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In regard to propaganda the early advocates of universal literacy and a free press envisaged only two possibilities: the propaganda might be true, or the propaganda might be false. They did not foresee what in fact has happened, above all in our Western capitalist democracies – the development of a vast mass communications industry, concerned in the main neither with the true nor the false, but with the unreal, the more or less totally irrelevant. In a word, they failed to take into account man’s almost infinite appetite for distractions.
Love is wise; hatred is foolish. In this world, which is getting more and more closely interconnected, we have to learn to tolerate each other, we have to learn to put up with the fact that some people say things that we don’t like. We can only live together in that way. But if we are to live together, and not die together, we must learn a kind of charity and a kind of tolerance, which is absolutely vital to the continuation of human life on this planet.
The chief obstacle to success lies in the stubborn fact that if the favorable prospects of a concern are clearly apparent they are almost always reflected already in the current price of the stock. Buying such an issue is like betting on a topheavy favorite in a horse race. The chances may be on your side, but the real odds are against you.