One suggestion my wife and I have used in our personal finance courses we teach at college is simply writing down all expenditures and seeing where the money goes. That alone will cause heads of households to think twice about x, y or z expenditure, and to consider carefully whether they really need something or not.

Gold is as steady as a rock, a standardbearer by which all currencies can be accurately measured.

In short, my vision of a responsible free society is one in which we discourage evil, but do not prohibit it. We make our children and students aware of the consequences of drug abuse and other forms of irresponsible behavior. But after all our persuading, if they still want to use harmful drugs, that is their privilege. In a free society, individuals must have the right to do right or wrong, as long as they don't threaten or infringe upon the rights or property of others. They must also suffer the consequences of their actions, as it is from consequences that they learn to choose properly

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

Back in 1960, the paper dollar and the silver dollar both were the same value. They circulated next to each other. Today? The paper dollar has lost 95% of its value, while the silver dollar is worth $34, and produced a 2-3 times rise in real value. Since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.

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.

We shall never change our political leaders until we change the people who elect them.