There were actually a couple of good candidates this week for Quote of the Week, whihch isn't always the case. If you're not sick of Europe yet (and let's be honest, you are), I thought this quote out of Cyprus was pretty telling as to the current state of things in the global economy.
In a similar vein, I also enjoyed Barry Ritholtz's rhetorical question at the end of this post--in essence, if we'd had a time machine 5 years ago, would it have helped us avoid any of this mess we're in now? I'm honestly not sure that it would have, and that's a problem.
But this week's winner is a guy who's long overdue to be recognized in this space. Buried deep inside this long treatise from economist/blogger Mish Shedlock is a gem of a quote from Yogi Berra, the idiot-savant philosopher/baseball hall of famer. It's a miracle I've gone this long without featuring a Yogi quote, because he's awesome. And this time around, his musing is both insightful and topical
This week's QUOTE OF THE WEEK
"In theory, there is no difference between theory and practice. In practice, there is."
- Yogi Berra
Well said, Yogi. Well said.