Sunday, August 2, 2009

Sunday Quote


Sunday, August 2, 2009

"You have to distinguish between two things--the Swedish economy and the Swedish stock market. The Swedish economy is the sum of all the goods and services that are produced in this country every day . . .

"The Stock Exchange is something different. There is no economy and no production of goods and services. There are only fantasies in which people from one hour to the next decide that this or that company is worth so many billions, more or less. It doesn't have anything to do with reality or with the Swedish economy."

2 comments:

Corey Wilde said...

Just take out the word 'Swedish' and...

Joe Barone said...

You've got it! Considering that he died in 2004, he was a lot more prescient than I was.