Jim’s Quote of the Day:

"It is certain that free societies would have no easy time in a future dark age. The rapid return to universal penury will be accomplished by violence and cruelties of a kind now forgotten. The force of law will be scant or nil., either because of the collapse or disappearance of the machinery of state, or because of difficulties of communications and transport. It may be possible only to delegate authority to local powers who will maintain it by force alone." – Roberto Vacca, The Coming Dark Age






















Jim’s Quote of the Day:

“Long term prices of houses simply cannot rise above people’s means to pay for them. That is a simple economic fact. Here is another simple economic fact: Family incomes are falling. The negative savings rate and rising foreclosures are more proof of stress in the system.” – Mike “Mish” Shedlock, Mish’s Global Economic Trend Analysis, April 2006, as quoted at SafeHaven.com




Jim’s Quote of the Day:

“So, we can say that, yes, the Dow has been in a bull market since October 2002 in dollar terms, but it has been in a bear market in gold terms. This is an important point to understand. In case we should experience continuous monetary inflation, which could lift, over time, all asset prices such as stocks, real estate, and commodities, some asset classes will increase more in value than others. This means that some asset classes while rising in value could deflate against other asset classes, such as happened with the Dow against gold since year 2000. – Marc …