Once the S&P broke through that, it was kind of a herd mentality: One goes, they all go.

Americans are so enamored of equality, they would rather be equal in slavery than unequal in freedom.

If everyone is thinking alike, then somebody isn't thinking.

Sheep only need a single flock, but people need two: one to belong to and make them feel comfortable, and another to blame all of society’s problems on.

What kind of men, then, does our society need? What is the "social character" suited to twentieth century Capitalism? It needs men who co-operate smoothly in large groups; who want to consume more and more, and whose tasks are standardized and can easily be influenced and anticipated. It needs men who feel free and independent, not subject to any authority, or principle, or conscience - yet willing to be commanded, to do what is expected, to fit into the social machine without friction.

One thing we need to watch is that he doesn't keep the screws on too tight and go overboard with these hikes. Everybody was looking for some language that would suggest a pause near these levels.