Friday, November 21, 2008

Economic Times... Past & Present

I remember a quote by former US President Calvin Coolidge that I like. And conducting an internet search to find the exact verbage, I found a site full of quotes by him. Interestingly, there are quotes that apply to the times even though they were uttered back when the US President count was at 30. For those who don't know, we are about to change to 44.

I will post these quotes and my comments follow each. Some speak for themselves.

"All growth depends upon activity. There is no development physically or intellectually without effort, and effort means work". -Calvin Coolidge

This is still true today.

"Economy is the method by which we prepare today to afford the improvements of tomorrow". -Calvin Coolidge

Today, it has reversed. Economy is the method by which we prepare tomorrow to afford the improvements of today. - Me

"Heroism is not only in the man, but in the occasion". -Calvin Coolidge

This is the occasion for us to rise and overcome the problems we are facing.

"I have found it advisable not to give too much heed to what people say when I am trying to accomplish something of consequence. Invariably they proclaim it can't be done. I deem that the very best time to make the effort". -Calvin Coolidge

Need I say more?! ;-)

"No enterprise can exist for itself alone. It ministers to some great need, it performs some great service, not for itself, but for others; or failing therein, it ceases to be profitable and ceases to exist". -Calvin Coolidge

Do something, not for your own existence, but for society as a whole.

"Industry, thrift and self-control are not sought because they create wealth, but because they create character". -Calvin Coolidge

"No person was ever honored for what he received. Honor has been the reward for what he gave". -Calvin Coolidge

"Duty is not collective; it is personal". -Calvin Coolidge

"If I had permitted my failures, or what seemed to me at the time a lack of success, to discourage me I cannot see any way in which I would ever have made progress". -Calvin Coolidge

This is a good time to introduce the quote I set out to find in the first place:

“Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan “press on” has solved and always will solve the problems of the human race”. -Calvin Coolidge

"The nation which forgets its defenders will be itself forgotten". -Calvin Coolidge


"The right thing to do never requires any subterfuge, it is always simple and direct". -Calvin Coolidge

"There is no dignity quite so impressive, and no independence quite so important, as living within your means". -Calvin Coolidge

By spending away the future for today's consumption -- among other things. We are going through a major re-alignment process in our economy. We are about to embark upon the biggest overhaul in our society in a generation or two. And Achieving Energy Independence will be one of those. By achieving this, there will be less transfer of payments overseas to buy an asset (OIL) that is then burned. That's almost like buying a house and then burning it down -- don't make too much sense. ;-)

"They criticize me for harping on the obvious; if all the folks in the United States would do the few simple things they know they ought to do, most of our big problems would take care of themselves". -Calvin Coolidge

"You can't know too much, but you can say too much". -Calvin Coolidge





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