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

Minimum wage laws make it illegal for a worker to accept a job that pays less, even if the worker needs that job.

You don't drive an economy by consuming - the consumer is not the engine, the consumer is the caboose.

Perhaps the most important reason to be skeptical of government inflation numbers is that the government, like a fox campaigning to guard a hen house, has many reasons to be disingenuous. As the world's largest debtor, the Federal Government is inflation's primary beneficiary.

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

The primary factor that enables our government to peddle economic snake oil is the dollar's unique role as the world's reserve currency, and our creditors' willingness to preserve its status. By buying up dollars and loaning them back to us through Treasury debt, productive countries give American politicians cart blanche to play Santa Claus.

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