Quotes of the day

Right now, I think the U.S. and China are living in a state of mutually assured destruction. China has too much invested in U.S. dollars, and thus can't afford to have it tank. Meanwhile the U.S. has borrowed too much from China. We can't afford to have the Chinese exit.--Accrued Interest

Today he's telling Congress to quit it with the spending already, but as Karl Denninger points out, if Bernanke really didn't approve of all the spending, he could cut it with the quantitative easing and rate manipulation, and force the government to borrow at market prices. He doesn't have to play along.--Joe Weisenthal

The very idea that a judge's "life experiences" should influence judicial decisions is as absurd as it is dangerous. It is dangerous because citizens are supposed to obey the law, which means they must know what the law is in advance — and nobody can know in advance what the "life experiences" of whatever judge they might appear before will happen to be.--Thomas Sowell

New York City is jam-packed with automobiles (and trucks and vans and motorcycles), but I often get the sense that people who live there don't really get cars.--Matthew DeBord

Andrew [Madoff] recently "lamented" to an African-American friend, "I'm unemployed, I don't have any money, and I'm just trying to stay out of jail -- my name is mud," to which the friend replied, "Well, now you're just like every black man in America."--Richard Johnson