Jim’s Quote of the Day:

“What we as a nation have done recently is eat the seeds and kill off the game which is necessary to regenerate surplus in the future. We have consumed our future surplus. This is essentially why the Coming Depression will not end in 2009 or 2012–we as a nation have consumed our future surplus via stupendous deficits and the stupendous interest payments which must be paid out of future surpluses.” – Charles Hugh Smith

























Jim’s Quote of the Day:

“The typical individual is addicted to low quality leisure. He watches prime time television. He reads very little. He does not subscribe to economic newsletters or spend much time on financial web sites. He does not think about the distant future, which he defines as anything beyond this month’s paycheck.” – Dr. Gary North







Jim’s Quote of the Day:

"There was no court in Holland which would enforce payment. The question was raised in Amsterdam, but the judges unanimously refused to interfere, on the ground that debts contracted in gambling were no debts in law. Thus the matter rested. To find a remedy was beyond the power of the government. Those who were unlucky enough to have had stores of tulips on hand at the time of the sudden reaction were left to bear their ruin as philosophically as they could; those who had made profits were allowed to keep them; but the commerce of the country suffered a …