Posted in the Barbourville Forum
#1 Jul 25, 2014
I just thought I would share this with those intelligent enough to appreciate it. It is more relevant today than ever before:
"As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth ... to provide men with buying power.... Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth.... The other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped."
- From "Beckoning Frontiers" by Marriner Stoddard Eccles, Chairman of the Federal Revserve (1934-1948)
#2 Jul 25, 2014
Very well quoted, Jack. Deciphered correctly, no truer words were ever spoken. Thank you for sharing.
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