You're worth what you're worth

There is simply no way to sustain an economy based on consumer credit.

Confidence by itself, unless it has a valid basis, can get us into trouble.

In a speech at the just-concluded G20 summit in London, President Obama urged Americans not to let their fears crimp their spending. It would be unwise, he argued, for Americans to let the fear of job loss, lack of savings, unpaid bills, credit card debt or student loans deter them from making major purchases. According to the president, 'we must spend now as an investment for the future'....instead of saving for the future, we must spend for the future.

The real story of Detroit [...] can be summed up in seven words. Private enterprise built it, government destroyed it.

Once the government runs out of foreign and private sector bidders for new Treasurys, the Federal Reserve will be the only buyer, and the hyper-inflation cat will be completely out of the bag.

It is production that creates purchasing power, not the printing press!