Quote of the Day

[don]

In these on-FIRE times, sometimes all that's needed is an appropriate quote.

For the sake of levity, perhaps my fellow iTulips agree.

Here's an entry for today:

“If you go all the way back to 1921, when farms were failing and Congress was leaning on the Fed to bail them out, the Fed always said ‘It’s not our business.’ It never regarded itself as an all-purpose agency.”:p>:p>
:p>:p>
Allan Meltzer, a professor of economics at Carnegie-Mellon University and author of a sweeping history of the Federal Reserve:p>:p>

(today's NYTimes)
:p>:p>

[don]

Re: Quote of the Day

The Dow Jones Company announced on September 18 that as of this Monday, September 22, 2008, Kraft Foods will replace ailing A.I.G. in the Dow Industrial Average with Kraft Foods. The company makes processed industrial products such as Cheez’it, Cheez Whiz and Oscar Meyer wieners, but is best known for the Macaroni and Cheese that Sam Kraft introduced in the Depression year of 1937. When milk and dairy products were rationed during World War II, these packaged meals were all that was available.



You can't make this shit up.