When everyone is a contrarian, nobody is a contrarian

Taxation is the price we pay for failing to build a civilized society. The higher the tax level, the greater the failure.

For those of us in the financial world, Black Friday has a strong negative connotation, referring to a stock market catastrophe.

Contrary to what President Obama said in his inaugural address, going on Medicare and food stamps does not strengthen us. Just ask people who are fourth-generation welfare recipients.

When everyone is a contrarian, nobody is a contrarian

The fundamental flaw in Social Security and Medicare is that they violate the 'welfare principle' in economics. The welfare principle forms the fundamental basis of all charitable work in churches and other private organizations: assist those who need help, and equally important, don't assist individuals who can take care of themselves.

In the early 1980s, I burned my Social Security card at the New Orleans Investment Conference in protest of the state pension system.