Ambrose Bierce Quotes
Experience - the wisdom that enables us to recognise in an undesirable old acquaintance the folly that we have already embraced.
Bierce, Ambrose. The Devil's Dictionary. The Neale Publishing Company, 1911.
See {538783} for a similar statement.
Greenspan, and his huge staff of economists all completely missed predicting the Meltdown of 2008. They had the power to regulate many of the banks and other companies that got into trouble in the Great Recession. However, all the financiers and economists of the banks of America with their staffs, not only missed the predictions but recommended the disastrous course of activity that almost destroyed the nation’s economy. Only a handful of economists predicted the Meltdown. Those few were not connected with any of the banks or any of the government bank regulators which had become so much like each other as the result of the revolving door, that there was little difference in their thinking.
Ambrose Gwinnett Bierce was an American short story writer, journalist, poet, and Civil War veteran. His book The Devil's Dictionary was named as one of "The 100 Greatest Masterpieces of American Literature" by the American Revolution Bicentennial Administration. His story "An Occurrence at Owl Creek Bridge" has been described as "one of the most famous and frequently anthologized stories in American literature"; and his book Tales of Soldiers and Civilians (also published as In the Midst of Life) was named by the Grolier Club as one of the 100 most influential American books printed before 1900.
