Jim’s Quote of the Day:

"Thus saith the LORD; Cursed be the man that trusteth in man, and maketh flesh his arm, and whose heart departeth from the LORD. For he shall be like the heath in the desert, and shall not see when good cometh; but shall inhabit the parched places in the wilderness, in a salt land and not inhabited. Blessed is the man that trusteth in the LORD, and whose hope the LORD is. For he shall be as a tree planted by the waters, and that spreadeth out her roots by the river, and shall not see when heat cometh, but …




Jim’s Quote of the Day:

"Everyone carries a part of society on his shoulders; no one is relieved of his share of responsibility by others. And no one can find a safe way out for himself if society is sweeping toward destruction. Therefore everyone, in his own interests, must thrust himself vigorously into the intellectual battle. No one can stand aside with unconcern; the interests of everyone hang on the result. Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us." – Ludwig von Mises, Socialism: An Economic and Sociological Analysis, …




Jim’s Quote of the Day:

Here we live in a country that has a fabulous constitution and all these guarantees, a contract between the citizens and the government – nobody knows what’s in it. It’s one of the best kept secrets. And so, if you don’t know what your rights are, how can you stand up for them? And furthermore, if you don’t know what is in that document, how can you care if someone is shredding it?” – Frank Zappa (1940 – 1993), as quoted by Spin Magazine, July 1991




Jim’s Quote of the Day:

“The bulls will buy stocks believing that we have another bull market on our hands. After having lost 50% of their money since 2007, they’ll lose another 20% – 30% when this rally collapses. The bears, meanwhile, are convinced that there is worse to come. They think the stimulus spending programs will cause inflation. So they’re buying gold and commodity stocks sure that when inflation comes, it will cause mining and oil stocks to soar. Maybe it will eventually. But the first big move will probably be down. They, too, will lose big. That could be the Big Surprise of …
















Jim’s Quote of the Day:

“Icelanders discovered that trading bits of paper isn’t a productive enterprise. A handful of guys, who fancied themselves as financial experts, were taking out tens of billions of dollars in short term loans from abroad. They were then re-lending this money to themselves and their friends to buy assets, such as soccer teams, cars, homes, etc. Since the entire world’s assets were rising; thanks to people of like mentality paying crazy prices for everything, the Icelanders appeared to be making money. One non-Icelandic fund manager said that its like, “You have a dog and I have a cat. We agree …




Jim’s Quote of the Day:

"The wavelike movement affecting the economic system, the recurrence of periods of boom which are followed by periods of depression, is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion. There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved." – Ludwig von Mises, Human …













Jim’s Quote of the Day:

"Those, who have the command of the arms in a country are masters of the state, and have it in their power to make what revolutions they please. [Thus,] there is no end to observations on the difference between the measures likely to be pursued by a minister backed by a standing army, and those of a court awed by the fear of an armed people." – Aristotle 384–322 BC