The only function of economic forecasting is to make astrology look respectable. John Kenneth Galbraith Claude Rains was “shocked, shocked!” when he learned that there was gambling at Rick’s in the classic film Casablanca. It appears that certain elites in our society are using the Claude Rains’ gambit. The phrase [...]

An interesting battle is shaping up between what I call the “Eggs” and the “Idiots.” The significance of the terms and which team you are on will become clear shortly. American Thinker discussed the intelligence of President Obama and concluded: As far as Barack Obama being smart as a whip [...]

From Consent of the Governed: I have two articles of interest to share with you – especially if you have some sort of nest egg. First off - Congress and Obama want your 401 (k)s and IRAs It’s in the works kids…. you’ve been saving and investing for years and now [...]

The economic condition of the country continues to decline toward its rendezvous with an, as yet, unknowable catastrophe. Speculation regarding this outcome is natural because self-interest, if not self-preservation, is at stake. Here is but one possibility. It is not a prediction, but a look at a series of not [...]

Just after posting the “Alan Greenspan – Hypocrite” piece, I came across a post that I believe puts Greenspan’s morality in context. Indeed, it puts most politician’s into perspective. How many times have we elected someone who goes into Washington as a “good man” and then changes to become just [...]

There was good response to yesterday’s quiz, both on-line and off-line. The following quotes were presented: The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. Deficit spending is simply a scheme for the confiscation of wealth. … the [...]

People in general are optimistic. Successful people in any occupation usually exhibit this characteristic. It is one of the attributes that lead to their success. One must be careful, however. Noble people assume that promises and commitments will be met. Unfortunately, that is likely to be untrue, at least in [...]

Hat tip to John Cooper a reader who suggested an improvement to the recent Our Patrick Henry Moment is Here post. My original piece was constrained by size limitations, but Mr. Coopers comments would be a worth addition. Obviously socialism can be attacked on many grounds. I chose the economic [...]

Obama’s election was supposed to transform America, at least in his mind. This country’s first Socialist President strode into office confident he would remake this country. Unfortunately for him and fortunately for the country, the timing of his election was twenty if not fifty years too late. Socialism failed in [...]

It was a lazy afternoon.  At least it was until I came across a blog by Mish. There was little in the post that I didn’t know or suspect, but this quote triggered a reaction: “It hides the economic substance of what’s really happening—an unlimited taxpayer bailout.” William Black, a [...]

The Constitution, once the operating system of the government, can fit in your pocket. Legislation used to be short and to the point. Now it is so larded down with special interest favors that one is apt to injure one’s back just by lifting it. The length of legislation has [...]

How do we solve our immense problem? No, not the economic problem, THE GOVERNMENT PROBLEM. Solve the government problem properly and there will be no more economic crises. NONE! PERIOD! Ron Holland defines part of the problem thusly: The Washington federal government can never pay off the massive $100 trillion [...]

This may be a good measure of the decadent morality and ethics of the US, by region. It may also reflect the ingrained dependency encouraged in these areas. After all, if you are going to make a living off government programs, you should be proficient at your job. Very interesting. [...]

Too many Americans are ignorant of the past and consequently ignorant of the present and future. They take for granted our prosperity and way of life without ever thinking about or understanding how it was achieved. To them, the present is what it is. It was always that way and always [...]

The mathematics of getting out of the hole we are in are impossible as pointed out many times in posts here. Now, Karl Denninger bluntly deals with the numbers. The issue of Social Security dominates the first part of his post. However, that is a relatively small part of the [...]

“The more you observe politics, the more you’ve got to admit that each party is worse than the other.” Will Rogers U.S. politicians and their character are under assault by the public. Finally!!! Regardless of how disposed you might be toward one party or the other, it is unlikely that [...]

Another Valuable Part of our Past is Gone. Coach John Wooden died yesterday. John Wooden, arguably (and this comes from a Duke fan and graduate) the best college basketball coach of all time, left us four months short of 100 years of age. His impact on the game of basketball, both [...]

Interview With Jim Rogers: The CPI Is A Lie And Inflation Is Going To Increase A Personal Look at HyperinflationDeflation? Where?Quote of the Day

The “green shoots” phrase seems to have worn out its welcome. Unfortunately, at least for too many gullible Americans, a recovery is believed to be underway. Few beliefs are more nonsensical than this one. Financially, none are more dangerous. We are not coming out of a recession, we are entering [...]

Obamacare on Life Support by  Maggie Piggot 05/24/2010 Obamacare is turning out to be a series of broken promises. It’s been the law of the land for less than two months, and already the President and Congress have reneged on vows made to the American people. For example, the nonpartisan [...]

Why the Left Ignores the Call for a Second Holocaust is an interesting read that goes beyond the Left and the Holocaust, providing lessons perhaps for our near-term future: … the West certainly is like ancient Rome. If you want to call us an “empire,” fine. But remember why the [...]

Our government has become quite Orwellian in its use of terminology and its outright untruths. This behavior did not start with Obama. The chutzpah of government officials to believe that they can blatantly contradict the truth and not expect people to get upset amazes me. It is a reflection on [...]

The article below is long and worth reading. It captures much of what many Americans now feel about their country. It is well-referenced with historical quotes that indicate the fears and prescience of our ancestors. Much of the knowledge that preceded us has been lost, seemingly displaced by the mass [...]

Here is a post from Jesse’s Cafe Americain that just hit the spot. It seemed to describe so well what our world has become. Although directed at traders, it fits too many of us in other occupations. Trading in Hubris: Pride, Overreach, and the Inevitable Blowback and Consequences The hubris associated with [...]