A man on his owns knows that he is best advised to leave his dumbbell neighbors alone. But let him join a political party, and he fantasizes that he has the right and the power to tell everyone on the block what to do.

People are upset. They know something is wrong. But they don't know what. The real explanation is too complicated. They won't sit still for it. So, they look for scapegoats - the rich...the banks...the Chinese.

You don't get what you want from investing, you get what you deserve.

You can forget about recovery. There is no recovery - and there's not going to be any recovery. Recovery is an impossibility.

None of the problems that caused the crises in Europe and America have been resolved. They have been delayed and expanded by more debt and more money printing and will lead to more and worse crises.

Printing up extra money - with no backing - used to be the sort of thing only counterfeiters did. Now it is done by the central bankers and Treasury Secretaries themselves. They don't apologize for it. They don't hang their heads and contemplate blowing their brains out. Instead, they're proud of it... announcing that they 'saved civilization,' or some such claptrap.

The US is headed for ruin and revolution. The revolution will almost certainly be put down, violently. But the ruin cannot be stopped.