Wednesday, February 8, 2012

Quotes from the Austere Front, 2012

"To some extent, yes. I am fully aware of this, and basically our mission and my wish is to have the Italian people value more and more some strong qualities they have in their genes and traditions -- that is, a strong entrepreneurial spirit and a sense of -- and a sense of solidarity in society."

-Mario Monti answering Margaret Warner's question about if he thinks budget cuts and austerity will force Italians to change their national character and culture 

"No one understands the need for security more than the business community, where one break in the supply chain can put an entire company at risk.  We will foster an all-of-nation approach to leverage the critical roles played by state, local, tribal and territorial governments, and private sector partners in strengthening supply chains; and we will enhance our coordination with the international community and international stakeholders who also have key supply chain roles and responsibilities."

-Janet Napolitano speaking at the National Press Club (after the Davos Economic Forum) on the Department of Homeland security's switch from sniffing out terrorism to business and "guarding" the economy's supply chain

"One minute we're being told to do one thing; then, they tell us something else. Then, they modify that with something different, and in the end, it's scrapped and replaced with something even more brutal."

Nikos Tassos, a carpet salesman in Marathon discussing the Greek austerity measures being forced on them by the IMF

“MF Global is in its strongest position ever.”

-Henri Steenkamp, MF Global CFO exactly one week before MF Global's customer money "vaporized" into thin air

"Bernanke is aware that the money supply must increase rapidly in order for there to be enough capital to service our debt.  Negative real interest rates and the continuous destruction of our currency is just business as usual in the United States.  And the sad truth is that gold’s best friend is the man in charge of our central bank."

-Michael Pento, founder of Pento Portfolio strategies to King World News

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