Archive for March 11th, 2011

What you’re doing when you invest is deferring consumption and laying money out now to get more money back at a later time.  And there are really only two questions.  One is how much you’re going to get back, and the other is when.
    —    Warren Buffett
[Here, Buffett is talking about stocks and the economy, but he might just as well be talking about public education or infrastructure reinvestment or any government provided service.  Almost all such services – local, state or federal must all be paid for well in advance of them being required, used or productive.  It’s too late to pay for a fire department after your house has been burned down.  It’s too late to pay for road repair when you die because the ambulance taking you to the ER blew out an axle on a pot hole.  It’s too late to pay for other families’ children to get educated when they are robbing you because they are unemployed or too underemployed to feed themselves and their family.    —    KMAB]

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