Karl Smith on Fire

First:

The Masonomic taxonomy is:

- The Chicago school says markets work so lets use markets
- The Cambridge School says markets fail so lets use government
- The George Mason School says markets fail so lets use markets

I have tried to push the notion that sometimes markets and government simultaneously fail, so lets get drunk.

Second:

Though, I do enjoy saying “If you are selling Treasuries then what are you buying? Ammunition and Water Purifiers?”

However, that line often doesn’t go over well with a certain class of business folks who are under the mistaken impression that all of them can simultaneously run to gold despite the fact that only 5 billion ounces have ever been mined in all of human history and over half of that is currently being used as jewelry.