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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 
Great Quotes 2008   print

 

December 31, 2008

"There is an apocryphal story about a disgraced rock star who ended up in bankruptcy court. When asked what happened to his fortune of several million dollars, he responded: ‘some went in drugs and alcohol. I gambled some of it away, some went on women and the rest I probably wasted!’ Financial markets have ‘wasted’ a staggering amount of money that ironically probably did not ‘exist’ in the first place."

Satyajit Das

"Stimulus plans also raise the chance of a Great Depression because of the deficits they cause. When the government sucks more than $400 billion out of the U.S. economy in two months, it should not be surprised when the credit crunch worsens for the private sector."

Martin Hutchinson

"Recently, President-elected Barack Obama announced his intention to implement a New Deal-style stimulus and public works program. What he somehow forgot to mention is that the United States is wholly dependent on the willingness of foreign creditors to supply the funds. But a weakening dollar makes continued foreign purchase of U.S. Treasurys a much more difficult decision."

Pete Schiff

"Detroit and Michigan have followed classic liberal policies of treating businesses as prey, rather than as assets. They have helped kill the goose that lays the golden eggs. So have the unions. So have managements that have gone along to get along."

Thomas Sowell

"Every election is a sort of advance auction sale of stolen goods."

H.L. Mencken

December 30, 2008

"Over the third calendar quarter of 2008, total US ‘non-financial’ credit increased by $US 2.348 TRILLION. US federal government borrowing accounted for $US 2.079 TRILLION or 88.5 percent of that total! US credit expansion, such as it is, is now almost entirely government driven. If anything is crystal clear, it should be that the pace at which the US government is creating new credit is TOTALLY unsustainable. With the US Dollar literally not worth saving and US Treasury debt paper literally not worth holding, the disastrous experiment with credit based paper has all but run its course."

Bill Buckler

"When did Americans turn into savages to the point where they will murder an innocent man in their desperate pursuit of a bargain at Wal-Mart? On the same day, two men shot each other to death in a Toys R Us after their women got into a fight. Why does anyone carry a gun when you go toy shopping?

James Quinn

"As a very important source of strength and security, cherish public credit. One method of preserving it is to use it as sparingly as possible."

George Washington

"By preventing the market’s destruction process from operating, the government makes the recession almost certainly deeper and without doubt horribly artificially prolonged."

Martin Hutchinson

"Money could never have originated as paper."

James Cook

December 24, 2008

"Our country is now permitting government leaders to pick the winners in our economic system. Their history of picking winners is not comforting. Government chose ethanol as the winner in the alternative fuels business. It requires more than a gallon of fuel to produce a gallon of ethanol. The windfall profits for farmers gave them incentive to grow only corn. This led to rising prices for other commodities, higher feed costs which led to higher meat costs, and a frenzy of ethanol plant construction. Now that oil is $43 per barrel, ethanol makes no financial sense. Ethanol plants are closing by the hundreds."

James Quinn

"I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."

Thomas Jefferson

"Markets placed great faith in the volume of money available to support asset prices and assist in alleviating shortages of liquidity. The perceived abundance of liquidity was, in reality, merely an illusion created by high levels of debt and leverage as well as the structure of global capital flows. As the financial system deleverages, it is becoming clear, unsurprisingly, that available capital is more limited than previously estimated."

Satyajit Das

"Congress is behaving like a bank gone wild, handing out money to almost anyone that asks for it with few strings and no sense attached."

Cal Thomas

"By prolonging the life of incompetent banks and overstuffed union contracts, the government is making matters worse and increasing the probability of serious trouble."

Martin Hutchinson

December 23, 2008

"Hank Paulson has dished out $180 billion to the largest 30 banks in the country in an effort to keep them solvent. It has now become quite clear that the largest banks in the country, with the ‘smartest’ MBAs, took excessive risk, created and then bought their own toxic derivatives, and lied to the public and their shareholders about their true financial position."

James Quinn

"Just like now nobody talks any more in terms of millions, so in the not so distant future no one will be talking any more in terms of billions. Trillions will be the order of the day."

Krassimir Petrov

"These are going to be shocking times. Gold and silver prices are going to skyrocket amidst the worsening crisis."

Greg McCoach

"Government can always find new ways to spend our money. That’s because it’s not government’s money. Does government ever ask if the public approves of such pork barrel spending? Does it ever ask us if we have enough money? No, government tells us how much of our money it intends to let us keep. Instead, shouldn’t we be telling government how much of our money we will allow government to spend?

Cal Thomas

"The more unawareness and apathy among voters the better the chances of politicians who promise something for nothing."

James Cook

December 22, 2008

"It’s clear now that in removing economic necessity from people’s lives (which is what welfare does), we risk sinking into barbarism."

Martin Durkin

"There is an overwhelming consensus that government must do something to save us. Whenever I see Republicans, Democrats, supply-siders, and Keynesians all agree about something, I know it will be a calamity."

James Quinn

"Throughout history, all successful monetary systems have, in one way or another, been tied either to gold, silver, or some other real asset of intrinsic value. If money has been only a piece of paper or a piece of copper, the system has always collapsed."

Dr. Krassimir Petrov

"Operating under the assumption that our largest financial institutions are ‘too big to fail’, in the span of a few weeks we went from pledging to spend $1 trillion to $3 trillion – a commitment which then grew to $5 trillion before ballooning to a staggering $8.5 trillion. At the rate we are going, we will be dealing with double digits – in trillions – before the end of the year."

Olivier Garret

"Yes, we did produce a near-perfect republic. But will they keep it? Or will they, in the enjoyment of plenty, lose the memory of freedom? Material abundance without character is the path of destruction.""

Thomas Jefferson

December 19, 2008

"As crisis after crisis torments the American people, each gives ample opportunity to reiterate what we have been sharing all along: do not look to your oppressor, the government, for solutions to the very problems it created."

Christine Smith

"How did we get from the nobility of Martin Luther King, to the sordid, gun-toting, rantings of the gangster rappers? Does the Left imagine that this represents liberation? Larry Elder and others have no doubt what’s to blame. The story goes back to Lyndon Johnson’s War on Poverty, which had people going door to door, encouraging people to get on welfare. Now, I understand, nearly 70 percent of today’s black children are born out of wedlock."

Martin Durkin

"Who wins from bailouts, regulations, and inflation? Not the middle class, the taxpayers, nor the businesses we love. It is the state, the bureaucrats, the mega-bankers, and the entire crew of parasitical state-connected interest groups."

Lew Rockwell

"President-elect Obama and the American people have a choice: embrace financial sanity and safety and soundness by deflating the last, biggest speculative bubble using the time-tested mechanism of insolvency. Or we can muddle along for the next decade or more, using the Paulson/Geither model of financial rescue for the AIG CDS Ponzi scheme and embrace the Japanese model of economic stagnation."

Chris Whalen

"Bernanke’s gonna keep printing money ‘til they run out of trees."

Jim Rogers

"When the government tries to make people more equal, it makes them more unequal."

James Cook

December 18, 2008

"The Welfare State has been an unremitting disaster, beyond any hope of reform. It is not that the welfare state isn’t functioning properly, it is that the welfare state is in essence degrading."

Martin Durkin

"Prophets who in their heart know themselves to be false cannot prevail against those filled with the power of sincere conviction. Nothing can corrupt ideas. Neither by money nor by other rewards can one hire men for the fight against ideas…. What is needed to stop the trend towards socialism and despotism is common sense and moral courage."

Ludwig von Mises

"We have a responsibility,’ said George W. Bush in 2003, ‘that when somebody hurts, government has got to move.’ Given a sufficiently elastic notion of what constitutes hurting, compassionate conservatism can be an activism indistinguishable from liberalism."

George Will

"There are $50 trillion of credit default swaps still outstanding. The hundreds of billions in taxpayer funds that have been poured into AIG have been used to pay out CDSs [Credit default swaps]. According to the brilliant bank analyst, Chris Whalen, at least $15 trillion of these CDSs will need to be paid out. All the Central Banks in the world cannot create that much paper out of then air."

James Quinn

December 17, 2008

"Britain has, I think, the highest crime rate of any industrialised country in the world. It is twice as high as the US. The violent crime rate is higher in London than New York. Britain has the highest rate of drug abuse, the highest teenage pregnancy rate and the highest rate of sexually transmitted disease in the modern industrial world. What the hell happened?"

Martin Durkin

"People on the left want the right to impose their idea of what is good for society on others – a right that they vehemently deny to those whose idea of what is good for society differs from their own. The essence of bigotry is refusing to others the rights that you demand for yourself. Such bigotry is inherently incompatible with freedom, even though many on the left would be shocked to be considered opposed to freedom."

Thomas Sowell

"In 1887, President Cleveland vetoed the Texas Seed Bill, which appropriated $10,000 to purchase seed grain for drought-stricken farmers. Cleveland said: ‘I can find no warrant for such an appropriation in the Constitution.’"

George Will

"Spread a rumor that a Quron got flushed down the can at Gitmo, and there’ll be rioting throughout the Muslim world. Publish some dull cartoons in a minor Danish newspaper, and there’ll be protests around the planet. But slaughter the young pregnant wife of a rabbi in Mumbai in the name of Allah, and that’s just business as usual."

Mark Steyn

December 16, 2008

"Unions that have monopolies on the labor in the industries they organize have driven off shore every industry except autos, airlines, health care and government services. Health care, airlines and autos are all bankrupt or passing the cost to consumers for the excess compensation; the only industries which could not leave by definition. Now they want to expand their reach to Wal-Mart and others who have remained competitive, and they expect Obama and the Democratic Party to pass laws which will make their organizing activities subject to thugs and fraught with peril for those that dare to cross the bullies. The elite poster child of this effort will be Wal-Mart. Everyday low prices will disappear for everybody so a few unionized employees can be OVERPAID."

Ty Andros

"The welfare state has bred a generation of obnoxious, drug-addled criminals and ne’er-do-wells. It has also, incidentally, burdened what was once the world’s biggest, most dynamic economy with the dead weight of an obstructive and vastly expensive state machine."

Martin Durkin

"My preliminary look at the Weimar experience suggests potentially ominous parallels. If the Fed embarks on the road of monetising Treasury debt the longer term inflation outlook becomes more frightening."

Rob Lee

"The former frat boys who populate Wall Street today understand economics about as well as the pinko professors whose courses they snored through."

Ann Coulter

"Bureaucracy by its nature resists change and nullifies progress."

James Cook

December 15, 2008

"Energy production, which was such a hot button campaign issue, is now set to go back to the DARK ages. Off shore drilling, sensible clean coal technologies and nuclear power are all set for further reversals and in their place windmills and solar power will be the ANNOINTED courses of action. Rolling blackouts and power shortages will begin to appear in the coming years as GREEN energy FAILS to produce the required needs of a growing populous. And trillions of Dollars will continue to be sent OFF SHORE rather than support practical and affordable domestic oil, clean coal, natural gas and nuclear industries."

Ty Andros

"As broad money growth accelerates, inflation will increase. When heavy dollar selling….leads to dumping of dollar-based assets held by foreign investors, the Fed will….have to monetize accelerating Treasury debt….I am moving ahead in time the possible onset of hyperinflation into 2009."

John Williams

"The Welfare State, pioneered in Britain of course, has corrupted this country to its core. It has transformed the country caricatured by Noel Coward and others – essentially pretty decent, self-reliant, and plucky – into a country which is thuggish, selfish, mindless, dispirited and lost."

Martin Durkin

"If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and never will be."

Thomas Jefferson

December 12, 2008

"The difference between death and taxes is death doesn’t get worse every time Congress meets."

Will Rogers

"Did you ever notice that when you put the words ‘the’ and ‘IRS’ together, it spells ‘THEIRS?’"

Unknown

"With direct intervention as a lender in the commercial paper market, and with heavy jawboning of banks to lend to credit-worthy customers, the Fed is pursuing increasingly desperate approaches to stimulate both commercial and consumer lending."

John Williams

"The bigger evil effects of welfare have been enormously underestimated, even by commentators who regard themselves as more pro-capitalist in their sympathies. Welfare is the basic cause of the deleterious cultural changes we have witnessed in the West over the past 60 years."

Martin Durkin

"As we have assured readers for years, no major bank will be allowed to fail. Instead, after $8.5 Trillion in commitments by the U..S. and other governments, we now find ourselves about one third of the way through the crisis. We anticipate that the final bill worldwide will be between $20 and $40 trillion. Wow!"

Monty Guild

"You can’t discern your arrogance in the present; only in the past."

James Cook

December 11, 2008

"The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government – lest it come to dominate our lives and interests."

Patrick Henry

"Our best protection against bigger government in Washington is better government in the states."

Dwight D. Eisenhower

"Near-term CPI reporting likely will see two fairly strong, seasonally-adjusted monthly contractions in October and November, thanks to the recent collapse in gasoline prices, but that should be about the extent of the oil induced ‘deflation.’ As these particularly large declines are absorbed by the CPI, annual inflation will not come close to turning negative."

John Williams

"Private equity firms face their unfolding DEMISE because they overpaid for the businesses they bought and collapsing revenues will not support the borrowing costs: these are classic MAL-investments in the Von Mises definition. Hundreds of private equity portfolio companies will undergo the convulsion of chapter 11 reorganization SOON. Good companies acquired at inflated prices and loaded up with debt at the top of the credit cycle, now dead men walking, are awaiting their demise as cash flow and profit retreats to unimagined levels, but debt servicing REMAINS."

Ty Andros

"I suspect that the loathing of [Sarah] Palin by so much of the opinion elite is driven not by contempt for her brainpower but by fear of her political potential. She is cheerful and charismatic, an unabashed and likable conservative who generates extraordinary grassroots enthusiasm. Tens of thousands of voters showed up at her campaign rallies, and even now, when she appears on TV, record-breaking numbers of viewers tune in."

Jeff Jacoby

December 10, 2008

"We citizens must be more skeptical about well-meaning politicians. We must look past their flowery words to understand what they really may be up to: ‘The urge to save humanity is almost always a false front for the urge to rule."

H.L. Mencken

"One of the greatest delusions in the world is the hope that the evils in this world are to be cured by legislation."

Thomas Reed

"Whatever limited U.S. fiscal and monetary discipline existed is gone. The U.S. is moving quickly to debase its currency in a manner unprecedented for the world’s reserve currency."

John Williams

"I have never missed a mortgage payment or borrowed more than I can repay but I am asked to subsidize those that have done so. The world now punishes those who have prudence and rewards those that have practiced irresponsibility. What’s wrong with this picture?

Ty Andros

"In the 1950s almost all children in Britain were brought up by their natural parents. Today, only around half the children in Britain are brought up by their natural parents. Half!

Martin Durkin

"The U.S. is now the world’s largest debtor nation and this will only get worse in the coming years. Currency is a trust item, and when trust erodes, the currency melts down."

Joseph Schachter

December 9, 2008

"Government is an association of men who do violence to the rest of us."

Leo Tolstoy

"The government is good at one thing: It knows how to break your legs, then hand you a crutch and say, ‘See, if it weren’t for the government you wouldn’t be able to walk.’"

Harry Browne

"We have enjoyed such unparalleled freedoms and prosperity that we have been lulled into the false notion that they will continue in perpetuity, even as we betray, to ever-greater extremes, our founding principles. But traditionalists understand that there is a tipping point beyond which this incessant socialist piggybacking on our capitalistic economic system and these ever-deepening encroachments on our scheme of government (for example, through judicial activism) will finally bring us to our knees."

David Limbaugh

"Recessions are designed to cull the weak from the herd, and a huge swath of the Chinese economy is ripe for the culling. If the world were all about economics, culling is what the Chinese would do. But the world is more complex than that. A culling would lead to massive unemployment. Many Chinese employees live on Third World wages; indeed, the vast majority of Chinese have incomes of less than $1,000 a year. To them, unemployment doesn’t mean problems with their 401k. It means malnutrition and desperation - neither of which is unknown in 20th century Chinese history, including the Communist period. The Chinese government is rightly worried about the social and political consequences of rational economic policies: They might work in the long run, but only if you live that long."

George Friedman

"The debasing of the U.S. currency is underway."

Joseph Schachter

"How is it that otherwise intelligent people can buy into the fallacy that government does a better job than free enterprise and free markets?

James Cook

December 8, 2008

"In the 1930s, it was the intellectuals who pooh-poohed the dangers from the rise of Hitler and urged Western disarmament. It would be no feat to fill a big book with all the things on which intellectuals were grossly mistaken, just in the 20th century – far more so than ordinary people. History fully vindicates the late William F. Buckley’s view that he would rather be ruled by people represented by the first 100 names in the Boston phone book than by the faculty of Harvard."

Thomas Sowell

"Slowly, remorselessly, government metastasized to the point where it now seems entirely normal for Peggy Joseph of Sarasota, Fla., to vote for Obama because ‘I won’t have to worry about putting gas in my car. I won’t have to worry about paying my mortgage.’"

Mark Steyn

"We have health care problems in the U.S. but it’s not because ours is a free market system of health care delivery. Well over 50 percent of all health care expenditures are made by government. Where government spends, government regulates. It’s truly amazing the Americans who are dissatisfied with the current level of socialized medicine in the U.S. are asking for more of what created the problem in the first place."

Walter Williams

"The greater the power, the more dangerous the abuse."

Edmund Burke

"Government is inherently incompetent, and no matter what task it is assigned, it will do it in the most expensive and inefficient way possible."

Charley Reese

"In terms of underlying fundamentals for the U.S. dollar, little has changed: they remain abysmal and are deteriorating. Accordingly, as the global financial system begins to stabilize, heavy selling of the U.S. dollar should resume, with the long-term outlook for the dollar remaining for a massive sell-off, and with flight from the dollar eventually evolving into a flight to safety outside the dollar."

John Williams

December 4, 2008

"Tragically, many black politicians and a civil rights industry have a vested interest in portraying the poor socioeconomic outcomes for many blacks as problems rooted in racial discrimination. One of the reasons they are able to get away with such deception is because there are so many guild-ridden white people. Led by guilt, college administrators, employers and others in leadership positions, in the name of diversity, buy into nonsense such as lowering standards, racial preferences and acceptance of behavior standards they wouldn’t accept from whites. Maybe the election of a black president will help white people over their guilt feelings so they can stop acting like fools in their relationships with black people."

Walter Williams

""Whilst the velocity of money has been quite stable in the past several years and perhaps even fallen most recently, this will not always be the case. As spring surely follows winter, it can be relied upon that velocity will accelerate the future. Once it does, it will combine with this huge increase in the monetary base to boost liquidity and elevate price inflation."

Ronald Solberg

"Right now the Fed is pursuing a pro-inflation strategy by lowering interest rates and showering the banking system with liquidity. They’re not even considering inflation."

Anna Schwartz

"How can investors take cover if concerns over government solvency spread? For the early part of any credit-related decline in bond prices, there are obvious hedges, such as credit default swaps, short Treasury bond futures positions and inverse Treasury ETFs. But ultimately a U.S. debt default would have cataclysmic consequences for the financial economy, bankrupting the entire system. So the ultimate safe haven is in the precious metals, which would rapidly regain monetary status in such a scenario."

Paul Amery

"The most politically painless way to hand out goodies, without taking responsibility for their costs, is to pass a law saying that somebody else must provide those goodies at their expense, while the politicians take credit for generosity and compassion."

Thomas Sowell

"A patriot must always be ready to defend his country – against his government."

Edward Abbey

December 3, 2008

"Wielding his enormous authority, Paulson is desperately throwing our money at banks in a futile attempt to convince them to lend. Instead, those banks are either hoarding the cash or acquiring more assets. In other words: Paulson is helping the banks that were ‘too big to fail’ grow even bigger with taxpayer backing. Swell."

Michelle Malkin

"The blame for our current financial mess rests with government, with the major player being the Federal Reserve Board keeping interest rates, artificially low and the congressional and White House market interference in the name of more home ownership. In the clamor for more regulation over our financial institutions, has anybody bothered to ask whether people in government know what they’re doing?"

Walter Williams

"The collision course between Obama’s leftist ideology and the reality of the markets could not be more striking. The president-elect is surrounded by economic advisors who want to raise capital gains taxes, as much because of their ideology as for any practical benefit."

Dick Morris & Eileen McGann

"[During the 1930s] New York Times Moscow correspondent Walter Duranty won a Pulitzer Prize for telling the intelligentsia what they wanted to hear – that claims of starvation in the Ukraine were false. After British journalist Malcolm Muggeridge reported from the Ukraine on the massive deaths from starvation there, he was ostracized after returning to England and unable to find a job. More than half a century later, when the archives of the Soviet Union were finally opened up under Mikhail Gorbachev, it turned out that about six million people had died in that famine – about the same number as the people killed in Hitler’s Holocaust."

Thomas Sowell

"Welcome to Wall Street, Mr. Obama. What you’re seeing is a 915 point down-Dow salute. You say you’re going to raise taxes and spread the wealth from the rich to the Poor? You’re going to be a modern Robin Hood? I don’t think the markets are going to like your plan. In fact, I’m damn sure they don’t. You see, the markets aren’t concerned with racial progress. The markets are interested in possible future prosperity, and they don’t give a hoot about a new president who talks about distributing the wealth, assuming that there is any wealth."

Richard Russell

"If you went back to the end of the 19th century and suggested to, say, William McKinley that one day Americans would find themselves choosing between a candidate promising to guarantee your mortgage and a candidate promising to give ‘tax cuts’ to millions of people who pay no taxes he would scoff at you for concocting some patently absurd H.G. Wells dystopian fantasy."

Mark Steyn

December 2, 2008

"This bailout [auto companies] is about taxpayer money being handed to a rotting business-union partnership that engaged voluntarily in agreements they can’t honor. Let them go bankrupt and work it out among themselves like everyone else."

David Harsanyi

Members of Congress who let themselves be bullied into switching their votes on the bailout should be experiencing the biggest case of buyers’ remorse in U.S. history. They fell for what Nobel Prize-winning economist F. A. Hayek called ‘the fatal conceit’ – the disastrous ideas that a federal bureaucrat has the knowledge to do a better job than the private market in organizing and directing an economy. They gave unchecked power to a single government official without a clue."

Michelle Malkin

"In the absence of government interference, it is unlikely that a lender would extend a mortgage to a person with a poor credit history, making no down payment, and providing no verifiable employment history. But under the pressure of the government’s Community Reinvestment Act and Fannie Mae and Freddie Mac buying up or guaranteeing such mortgages, a lender will."

Walter Williams

"The abundance, which so many people take for granted without understanding its source, allows them to believe that a new president can ‘stimulate’ us out of recession. But we cannot raise wages or create jobs or eliminate poverty by executive order. We can do so by freeing people to save and invest and accumulate capital. We can’t make medical care universal and inexpensive by legislative fiat. But we can approach that goal by permitting a free market in medicine to work."

John Stossel

"Ambition without intellect; that is an awkward combination."

James Cook

November 26, 2008

"With the financial panic continuing, the markets are not close to being in balance. Recent U.S. dollar strength and gold weakness have been heavily influenced by forced liquidations, position squaring, etc. by troubled entities. At such time as the markets return to some level of stability, heavy dollar selling and gold buying likely will resume. As the dollar tumbles, anew, that should add some upside pressure to oil prices, irrespective of slowing global demand."

John Williams

"The regulators in many cases actively required banks to make bad loans. Here’s the Boston Federal Reserve, warning banks in its jurisdiction that failure to make enough loans to minority customers could result in fine up to 1% of the bank’s net worth. In advising banks to loosen credit standards, it continued that ‘even the most determined lending institution will have difficulty cultivating business from minority customers if its underwriting standards contain unreasonable measures of creditworthiness…Special care should be taken to ensure that standards are appropriate to the economic culture of lower-income consumers."

Adrian Day

"The capital invested in keeping the hulk of the Detroit Three operating pretty much as they are, unprofitably, will not be available to those whose startups could morph into the Microsofts and FedExes of the future. We don’t know who today’s Bill Gateses and Fred Smiths are, but markets sure have a better chance of finding them than the federal government."

Michael Barone

"The infatuated chattering classes now demand ‘action’ on the economy. They use positive words like ‘bold steps.’ The insufferable New York Times suggests the choice is ‘between a big-bang strategy of pressing aggressively on multiple fronts versus a more pragmatic, step-by-step approach…’ There is endless talk about how FDR ended the Great Depression and how Obama will apply similar ‘stimulus.’ FDR’s ‘bold’ moves didn’t end the Depression. They prolonged it by discouraging capital investment. Hoover and Roosevelt turned what might have been a brief downturn into 10 years of double-digit unemployment."

John Stossel

"High-speed rail proposals are high-cost, high-risk megaprojects that promise little or no congestion relief, energy savings, or other environmental benefits. Taxpayers and politicians should be wary of any transportation projects that cannot be paid for out of user fees."

Randal O’Toole

 

November 25, 2008

"The current surge in the base is a direct result of the ongoing, extraordinary actions taken by the Federal Reserve and the U.S. Treasury aimed at preventing a collapse of the U.S. financial system. The higher monetary base growth will result in sharp spikes to domestic money supply growth and will intensify inflationary pressures in the year ahead, irrespective of wild gyrations and sell-offs in oil and of strength in the U.S. dollar, that otherwise should prove very short-lived going forward."

John Williams

"To turn a free nation into a welfare state, the government must gain total control of what the nation uses as a medium of exchange, a money. They must then discourage savings by convincing the people that they are not required to save since the state will ‘provide.’"

Bill Buckler

"We are on a one way ride into hell, with our freedoms taken and the bills sent to you and me. Every Dollar, Euro, Pound, Aussie and Canadian Dollar that is borrowed or printed will go to save corporate, banking and government elites who have conducted themselves in a completely irresponsible manner ‘morally and fiscally’ and created businesses which consume more than they produce."

Ty Andros

"The U.S. Constitution is not only older than France’s, Germany’s, Italy’s or Spain’s constitution, it’s older than all of them put together."

Mark Steyn

"The religious right is much more likely to stop being ‘right’ than stop being religious. And secular conservatives and libertarians who passionately believe in limited government should be very grateful indeed that most of today’s religious conservatives believe in it, too."

Jonah Goldberg

"Suffering may be necessary."

James Cook

November 24, 2008

"It was political meddling by liberals that led Fannie Mae and Freddie Mac to encourage subprime mortgage loans in the first place. Were it not for the pressure in the Clinton Administration to expand home ownership to poor people and minorities, Freddie and Fannie would not have relaxed their down payment policies and would not have been willing to guarantee mortgages without proof that the borrowers had sufficient income to repay the debts."

Dick Morris

"A state monopoly of money guarantees the eventual destruction of that money as a viable tool of exchange and therefore as a viable means of saving."

Bill Buckler

"What is really incredible is that within the media, you still have this interventionist mind set that is so powerful, that the people who have gotten it right are dismissed and the people who have gotten it wrong continue to come back and offer the same diagnoses…So everything is being blamed on a lack of government intervention and the prescriptions are more government interventions. It is just incredible how the people who have gotten it right are dismissed right now."

Kevin Duffy

"Americans should, as always, be thankful this Thanksgiving, but they should also understand just how rare in human history their blessings are."

Mark Steyn

"We [Republicans] have governed as lighter versions of liberal Democrats. We went to Washington to be fiscal conservatives and we became profligate spenders and big-government bureaucrats."

Greg Mueller

November 21, 2008

"Rampant corruption, all-pervasive bureaucracy, complex regulations, an arbitrary judiciary, and a belligerent foreign policy do not make for an investment-conducive environment. But what scares investors most is the Kremlin’s looting of the private sector. Once the Kremlin targets a company as undesirable there is not much that can be done. Undue resistance and protestations by the owners can easily culminate in jail time. Earlier this year, media magnate Rupert Murdoch pointedly addressed this point: ‘We have great growing business there [in Russia] but…the more I read about investments in Russia, the less I like the feel of it. The more successful we’d be, the more vulnerable we’d be to have it stolen from us, so there we sell now.’"

Vasko Kohlmayer

"The US Treasury said on November 3 that fourth quarter borrowing needs will probably grow to $US 550 Billion from an earlier estimate of $US 142 Billion. Annualise that quarterly figure! The Treasury’s present rate of sales of notes and bonds would raise less than one-fifth of the $US 1.95 TRILLION the US government may need to borrow in fiscal 2009. The Treasury has also sold $US 755 Billion in bills this year outside of its regularly scheduled sales to support bank lending programs. This is madness."

Bill Buckler

"Government stimulus bills are based on the idea that feeding new money into the economy will increase demand, and thus production. But where does government get this money? Congress doesn’t have its own stash. Every dollar it injects into the economy must first be taxed or borrowed out of the economy. No new spending power is created. It’s merely redistributed from one group of people to another."

Brian Riedl

"In terms of all of this so-called cash that is sitting on the sidelines, we don’t think there is a lot of cash. We think there is a lot of leverage, but there is really not as much as cash as everybody thinks."

Kevin Duffy

"Be governed by your likes rather than your dislikes."

James Cook

S

November 20, 2008

"Many people have become concerned with the growing power of foreign sovereign wealth funds in major American businesses. Will these funds use their influence and power to alter the financial policies and lending practices of America’s leading banks and investment houses? But now the danger comes not just from abroad but from government intervention at home. The sovereign wealth fund that might be most influential in distorting our private capitalist system is the United States Treasury and the Federal Reserve Board."

Dick Morris

"How can these class-warfare demagogues sleep at night saying the rich don’t pay their fair share when 2006 official figures show the top 1 percent of income earners pay 40 percent of the income taxes; the top 5 percent pay 60 percent; the top 10 percent pay 71 percent; the top 25 percent, 86 percent; and the top 50 percent, 97 percent?

David Limbaugh

"American communism was launched well before the Great Depression, not only in a time absent of economic catastrophe, but in one of the most prosperous economic decades in all of American history: the 1920s. American communists were railing against the evils of American capitalism long before the economic severity of the 1930s – i.e., well before one could even attempt to link the Great Depression to the alleged ills of free markets. The Great Depression was simply a tool for later exploitation by American communists once their organization was up and running."

Dr. Paul Kengor

"When oil drops from $147 to $70 a barrel, it is reasonable to expect Russia and Venezuela to be hit badly, even if those countries had been well run. However, given the spectacular refusal by both the Putin/Medvedev team in Russia and Hugo Chavez in Venezuela to recognize the validity of economic laws, it is not surprising that those countries have run into big trouble, which is likely to get bigger."

Martin Hutchinson

"A massive rush at jewellery shops [Dubai] has led to a shortage of gold at some outlets."

Sunita Menon

"Messrs. Bernanke and Paulson will continue to do whatever they have to do to prevent a functional collapse of the U.S. financial services industry, at any cost. The eventual cost to the U.S. financial and economic system will be much higher inflation."

John Williams

November 19, 2008

"Whether spending on welfare or make-work, there is no free lunch. By substituting the judgment of bureaucrats and political interests for the private knowledge of millions of entrepreneurs seeking the most productive use of labor and capital, government misallocates scarce resources that would be better spent increasing private-sector productivity – and along with it private incomes. The difference is that when politicians make a mistake, they get more funding; when businesses make a mistake, they go bankrupt – or should."

Jason Lewis

"The cost of the government keeping the Big Three afloat would surely be more mandates for politically correct ‘green’ cars. Holman Jenkins of The Wall Street Journal has pointed out the damage of already-existing mandates: ‘The Detroit Three have been effectively required to build small cars in high-wage, UAW factories, though it means losing money on every car.’ If the Big Three have been inefficient until now, just wait until the Sierra Club is in charge."

Rich Lowry

"I think the U.S. is going to default entirely within the next nine to 10 months. Here’s the situation. The U.S. is bankrupt. As anybody who looks at our debts and obligations should be aware, sooner or later we’re going to have to declare bankruptcy."

Bob Moriarity

"The continual Fed action to flood the markets with money will lead to an era of hyper-inflation, the likes of which no living American has ever seen."

Gerald Celente

"The government just grows and grows, remorselessly. Every two years, the voters walk out of their town halls and school gyms and tell the exit pollsters that three-quarters of them are ‘moderates’ or ‘conservatives’ (i.e., the center and the right) and barely 20 percent are ‘liberals.’ And then, regardless of how the vote went, big government just resumes its inexorable growth."

Mark Steyn

"With fiat currencies headed for a predestined tragedy of Shakespearean proportions, it doesn’t take a genius to see how physical gold demand could rise. Gold bars and coins are already flying from the vaults. Faith in the yellow metal will only wax further as faith in paper wanes."

Justice Little

November 18, 2008

"On average, GM pays $81.18 an hour in wages and benefits to its U.S. hourly workers."

Cal Thomas

"Personally if I were the Chairman of the People’s Bank of China and Treasuries had lost me the kind of money they have in the last five years I’d probably declare war on the US, but fortunately central bankers are a phlegmatic and tolerant lot!"

Martin Hutchinson

"During the 1930s, some of the leading intellectuals in America condemned our economic system and pointed to the centrally planned Soviet economy as a model – all this at a time when literally millions of people were starving to death in the Soviet Union, from a famine in a country with some of the richest farmland in Europe and historically a large exported of food."

Thomas Sowell

"The US authorities will not hesitate to debase their currency in an attempt to salvage the financial system. In the fullness of time, this will be wildly inflationary and should propel gold and silver prices that would be viewed by many of today’s context as surreal."

John Embry

"The Fed has added as much to the monetary base in 6 weeks as it has added in any prior 10 year period going back to the early 1980s."

Silveraxis.com

"You find out how much you love someone when they are suffering."

James Cook

November 14, 2008

"The Fed cannot print enough money to paper over the $531.2 trillion in derivatives and credit swaps, the trillions in the overbuilt commercial real estate market ready to collapse, the multi-trillions in leveraged buyouts going bust, and other exotic financial instruments that have turned toxic. Yesterday’s lowering of interest rates and the continual Fed action to flood the markets with money will lead to an era of hyper-inflation, the likes of which no living American has ever seen. We continue to forecast gold $2000. And once again, we urge you to take precautionary measures in view of a worsening global market meltdown."

Greg McCoach

"We have taken the entire banking system, Fannie Mae and Freddie Mac and AIG, out of the hands of the fools on Wall Street who were running them and handed control over to the fools in Washington."

Bob Moriarty

"The probability is high that these ETFs will fail or the banks or financial entities that back them will fail.

Struthers Report

"Half of the $50 billion the auto industry wants is for health care for its current and retired employees. This is the result of increasing UAW demands, strikes and threats of strikes unless health care and pension benefits were regularly increased."

Cal Thomas

"The most brilliant people will still carry the prejudices of their mentors."

James Cook

November 13, 2008

"In the industrial countries of the West the planning scheme is more popular because even the most fanatical statolatrists shrink from directly nationalizing the intricate apparatus of modern manufacturing. Yet, the ‘planning scheme’ is just as destructive of freedom as the ‘nationalization scheme’ and both lead on to the authoritarian state."

Ludwig von Mises

"This is it! The Kondratieff winter is now underway in earnest and nothing can stop it. The huge credit expansion initiated by the ‘Maestro,’ the past Federal Reserve Chairman, Alan Greenspan, has now reversed. The ensuing credit contraction will be devastating. It will take down creditor and debtor alike and will result in a destructive and frightening deflationary depression."

Ian Gordon

"Please remember, all these billions of dollars that the government is throwing at entities – all this money represents additional DEBT. How the US dollar will hold up against this building-tower of debt is the question. Ultimately, the trillions of newly-created dollars could lead to hyper-inflation. Then why isn’t gold reflecting the chances of hyper-inflation?

Richard Russell


"The greatest mistake one can make is to think a deflation is coming because houses and stock prices have collapsed. We are entering one of the greatest inflationary periods in our history."

Kenneth Gerbino

"Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive."

Doug Casey

November 12, 2008

"Democratic societies rarely vote to ‘go left.’ Yet oddly enough that’s where they’ve all gone. In its assumptions about the size of the state and the role of government, almost every advanced nation is more left than it was, and getting lefter."

Mark Steyn

"When push comes to shove, the U.S. government will do just what the Argentine government is doing… place its dead hands around the throat of the $17 trillion now resting in U.S. retirement accounts."

Doug Casey

"Farm subsidies cost every taxpayer $550 per year, they also raise food prices by paying farmers not to grow certain crops. Other crops are subsidized and exported, destroying the livelihoods of poor farmers in the Third World."

John Stossel

"Can one be sane and at the same time hold that ours is an unregulated laissez-faire economy? Better yet, tell me what a businessman, or for that matter you, can do that does not involve some kind of government regulation."

Walter Williams

November 11, 2008

"If it were really possible to substitute credit expansion (cheap money) for the accumulation of capital goods by saving, there would not be any poverty in the world."

Ludwig von Mises

"Let no one tell you that this election was a failure of conservatism – it was the product of failed Republican leadership. Conservatism gave way to ‘compassionate’ big-government Republicanism, which failed big time."

Laura Ingraham

"At best, the government will succeed at what it’s trying to do, i.e., stave off a depression, by sacrificing the dollar and allowing a fairly high level of inflation. If we’re lucky, it won’t turn into hyperinflation."

Casey Research

"Call up any coin dealer and ask about his inventory of gold coins. He’ll tell you he has none. Why? What’s happening? I think this is the first stirring of distrust in fiat money. The little cloud, now no bigger than a fist, is growing. The little dark cloud is distrust in fiat money. And it’s growing."

Richard Russell

"Evil is the root of all fear."

James Cook

November 10, 2008

"The U.S. Dollar, which now seems to be defying gravity, will eventually crater to its intrinsic value (which is zero) before all this is over."

Greg McCoach

"The massive give-aways to prop up Wall Street are going to add further downward pressure to a currency that was already in a free fall."

Laurence Roulston

"Obama is oriented toward statism, the very cause of most, if not all, of that which now plagues the global economy."

David Galland

"America is bankrupt. American government bonds are extremely overvalued. They are the world’s last bubble. America is in debt for over $13 trillion and adds over $1 trillion debt each year."

Jim Rogers

November 7, 2008

"Politicians have immense power to do harm to the economy. But they have very little power to do good."

Walt Williams

"Most change in America doesn’t come from politicians. It comes from people inventing things and creating. The telephone, the telegraph, the computer, all those things didn’t come from government. Our world is going to get better and better, as long as we keep the politicians from screwing it up."

David Boaz

"A fiat money system inevitably reaches a level of excess that cannot be sustained."

James Cook

November 6, 2008

"We currently stand on Occam’s razor, staring into a deflationary abyss on one side and incipient inflation on the other."

Ronald Solberg

"If we need heroes in our lives, we shouldn’t go looking for them among professional politicians, for God’s sake."

Gene Healy

"Despite the repeated failure of central planning, the political class acts as if politicians can direct our lives. When there are problems, politicians will solve them. They’re going to give us prosperity and cheap health care, fix education lower gas prices, stop global warming and make us energy ‘independent.’"

John Stossel

November 5, 2008

"Credit expansion is not a nostrum to make people happy. The boom it engenders must inevitably lead to a debacle and unhappiness."

Ludwig von Mises

"Deregulation was only a minor cause of the housing bubble and subsequent debacle; the true cause was excessive money supply creation by the Fed, which is not a private sector free-market entity but an agency of government. It is these lessons, that over-easy money will bring long-term disaster and that government has been primarily responsible for this as for so many previous crises, which must be taught to the American people."

Martin Hutchinson

"Contrary to popular belief, rail transit does not save energy. Many light-rail operations use more energy per passenger mile than the average sport utility vehicle, and almost none uses less than a fuel-efficient car such as a Toyota Prius. People who respond to high fuel prices by taking transit are not saving energy; they are merely imposinng their energy costs on someone else."

Randal O’Toole

"Sometime in the future the world will challenge the worth of all fiat money. Fiat money is money because a government decrees by fiat that ‘this is money.’ Is that logical? Every fiat issue of money has been destroyed going back in history."

Richard Russell

November 4, 2008

"Government bailouts are inflationary in nature. The Fed’s actions, which are being parroted around the world, will create massive amounts of additional liquidity. They are meant to encourage yet more borrowing and credit expansion… when, in fact, exactly the opposite is needed to resolve the situation. Governments everywhere are attempting to put out the raging fires with liberal doses of gasoline. The result will be predictable: currency depreciation."

Casey Research

"In the next five years individuals will need some way to defend against price inflation. Holding tangible goods is the rational alternative to money, and gold is the most practical choice… what is true of gold is, to some extent, true of silver. Historically, it has been the second monetary metal. However, there are industrial uses as well as decorative and monetary uses for silver, all of which affect demand and therefore price."

John Pugsley

"It’s now getting to the point that the Fed has no other option than hyperinflation."

Graham Summers

"Innovators are scarce because people can assimilate only so much innovation."

James Cook

October 31, 2008

"The best way to help the poor is to slash taxes and allow savings, investment, and creation of jobs to proceed unhampered."

Murray N. Rothbard

"In a world dependent on international trade and commerce, and staggering under a heavy load of international debt, no policy is more destructive than protectionism. It cuts off markets, eliminates trade, causes unemployment in the export industries all over the world, depresses the prices of export commodities, especially farm products of the United States. It is the crowning folly of government intervention."

Hans F. Sennholz

"Radical special interest groups prove that you can protest your way to irrelevance."

James Cook

October 30, 2008

"Government planning always involves compulsion."

Henry Hazlitt

"The modern campus is deeply obsessed by race and gender, and not much else."

John Leo

"The policies advocated by the welfare school remove the incentive to saving on the part of private citizens."

Ludwig von Mises

October 29, 2008

"For a conservative, the hazards of speaking on a college campus are more extensive than you might think. Once the security guards are in place – as they inevitably must be – a risk of getting pied or physically attacked or having one’s speech shut down by raucous protesters is actually a lesser problem than others one regularly encounters at these events. Far greater is the problem caused by the generally hostile environment a conservative normally encounters on any campus. This includes destruction of flyers advertising one’s event, failure of the campus newspaper to publicize it and failure of professors to recommend or even require student attendance as they regularly do for radical speakers. Equally troublesome for a visiting conservative is the pervasive leftist mindset of a community that is constantly brow-beaten by leftist propaganda and is the subject of relentless intimidation by leftist bigots who will call anyone who disagrees with them a racist or a sexist or an Islamophobe at the drop of a hat.""

David Horowitz

"Money is colour-blind, race-blind, sex-blind, degree-blind and couldn’t care less who brought you up or in what circumstances."

Felix Dennis

"It does not matter if a new idea is good or bad, it will be resisted."

James Cook

October 24, 2008

"Throughout all of recorded business history rising prices have been associated with prosperity. And for the same length of time, falling prices have been associated with hard times."

Bob Hoye

"I think we should underscore the fact that perverse regulation, rather than de-regulation is a root cause of the crisis. Contrary to the myth that the housing bubble and sub-prime lending were driven by greed in a climate of deregulation, the impetus to sub-prime lending came from federal mandates, like the Community Investment act, which imposed penalties on banks for not lending to underprivileged borrowers."

James Davidson

"Meltdown? What’s wrong with a meltdown? Why shouldn’t bankers fear to lend? Why shouldn’t prices go to what willing buyers and sellers will accept? Why should Wall Street be bailed out? Why shouldn’t investors take the losses they deserve? Why shouldn’t house prices fall rapidly? Why shouldn’t the mistakes of the past five years be corrected quickly, in other words?"

Daily Reckoning

"When push comes to shove, the U.S. authorities will not hesitate to debase their currency in an attempt to salvage the financial system. In the fullness of time, this will be wildly inflationary and should propel gold and silver prices that would be viewed by many in today’s context as surreal."

John Embry

October 23, 2008

"Senator Biden’s "experience" has been a long history of being on the wrong side of issue after issue in foreign policy. He was one of those Senators who voted to pull the plug on financial aid to South Vietnam, which was still defending itself from Communist invaders after the pull out of American troops."

Thomas Sowell

"No warning can save a people determined to grow rich suddenly."

Samuel Lloyd

"The ultimate cost of systemic salvation remains inflation, driven by excessive monetary creation, irrespective of the short-term collapse in oil prices."

John Williams

"Voters face a choice between a Republican Party whose image has been destroyed by its Wall Street allies and a Democratic nominee whose spiritual advisor is Rev. Jeremiah Wright. Whose financial backer is Rezko. The man who provided the money for his first real job was William Ayers. And, now it appears, that the object of his financial largesse and the organization for which he was Illinois general counsel was ACORN, massively implicated in voter fraud."

Dick Morris

"The day after the most-recent debate I bumped into two Obama supporters in St Johnsbury, Vt. They said isn’t it great that he’s on course to win. Well, they were cute chicks, and I know as obvious pick-up line when I hear one, so I stopped to chat. God Almighty, it was reverse Viagra: After 10 minutes of Babes for Barack, I never want to meet a female woman of the opposite sex for the rest of my life."

Mark Steyn

October 22, 2008

"Sarah Palin’s record is on the record, while whole years of Barack Obama’s life are engulfed in fog, and he has had to explain away one after another of the astounding and vile people he has not merely "associated" with but has political alliances with, and to whom he has directed the taxpayers’ money and other money."

Thomas Sowell

"By "redistributing wealth", as Obama wants the government to do, he’s actually reducing overall wealth in the economy by taking away capital from those who can invest it efficiently in direct job creation."

Linda Chavez

"ACORN is tied at the hip with not only the Democratic Party, but Barack Obama. Obama recently gave ACORN over $800,000 from his campaign to go along with the hundreds of thousands he steered their way through his William Ayer’s connections."

Dave Weinbaum

"At the debate we were offered the curious spectacle of two candidates both of whom essentially take the same line on this stuff – Wall Street greed, special interests, lobbyists, the usual populist boilerplate. And yet for a pair of guys who both believe in big government solutions, everything they said seemed small and tinny. Epic events swirled all around, but the two men fighting to lead the global superpower could only joust with cardboard swords: Why, Obama was such a bold leader on this issue only two years ago he "sent a letter" to somebody or other. Why, long before Obama sent his letter McCain "issued a statement." Rarely has the gulf between interesting times and the paper work of "big government" yawned so widely."

Mark Steyn

October 21, 2008

"There is no question that if one were to ask whether we Americans are moving towards more liberty or more government control over our lives, the answer would unambiguously be the latter – more government control over our lives. We might have reached a point where the trend is irreversible and that is a true tragedy for if liberty is lost in America, it will be lost for all times and all places."

Walter Williams

"There are only two questions about government. How much do you want? How much can you stand?"

James Cook

October 20, 2008

"Americans demand that Congress spend trillions of dollars on farm subsidies, business bailouts, education subsidies, Social Security, Medicare and prescription drugs and other elements of a welfare state. The problem is that Congress produces nothing. Whatever Congress wishes to give, it has to first take other people’s money. Thus, at the root of the welfare state is the immorality of intimidation, threats and coercion backed up with the threat of violence by the agents of the U.S. Congress. In order for Congress to do what some Americans deem as good, it must first do evil. It must do that which if done privately would mean a jail sentence; namely, take the property of one American to give to another."

Walter Williams

"Capitalism gave the world what it needed, a higher standard of living for a steadily increasing number of people."

Ludwig von Mises

October 17, 2008

"The greatest dangers to liberty lurk in the insidious encroachment by men of zeal, well meaning but without understanding."

Louis Brandeis

 

"The freedom of individuals from compulsion or coercion never was, and is not now, the normal state of human affairs. The normal state for the ordinary person is tyranny, arbitrary control and abuse mainly by their own government. While imperfect in its execution, the founders of our nation sought to make an exception to this ugly part of mankind’s history. Unfortunately, at the urging of the American people, we are unwittingly in the process of returning to mankind’s normal state of affairs."

Walter Williams

"Government fosters negative political and social beliefs."

James Cook

October 16, 2008

"The Enron and WorldCom debacle is a drop in the bucket compared to the financial mess that Congress has created through Fannie Mae and Freddie Mac, in the name of ‘affordable housing.’"

Walter Williams

"Failure here is not an option for Messrs. Paulson and Bernanke, they will spend whatever money they need to create, twist any arm that needs to be twisted, bend on any knee, and intervene in or manipulate any market or statistic necessary, in order to save the system. There is a cost to the nation here, and that is in higher inflation."

John Williams

"New taxes are so unpopular that most ‘social’ handout schemes are originally enacted without enough increased taxation to pay for them. The result is chronic government deficits, paid for by the issuance of additional paper money."

Henry Hazlitt

October 15, 2008

"The financial collapse of Fannie Mae and Freddie Mac is not a failure of the free market because lending institutions in a free market would not have taken on the high-risk loans. They were forced to be the heavy hand of government."

Walter Williams

"Currently, the top 5 percent is paying 57 percent of all income taxes."

David Limbaugh

"Without struggle there is no victory."

James Cook

October 13, 2008

"Stephen Moore reported in December 2007 that the top 1 percent of income earners pay about 37 percent of all income taxes. That is more than they were paying before the Bush tax cuts and way more than they would have paid had the Bush tax cuts not been enacted."

David Limbaugh

"The various markets are about as volatile and dangerous as they can get. With extraordinary crosscurrents from the solvency crisis and various governmental and global central bank interventions in the markets and marketplace, volatility likely will continue, sometimes in directions that may seem irrational. The gold and currency markets, in particular, remain subject to jawboning and both covert and overt central bank intervention, aimed at discouraging investors from seeking safety in gold or outside the greenback."

John Williams

"In a strong economy, Obama’s tax hikes would raise questions. In a weak economy, they portend a catastrophe. It would be like bleeding a sick patient, the medicine of two hundred years ago, depriving him of blood even as he needs more not less circulating through his arteries."

Dick Morris & Eileen McGann

"Even with a coherent and quickly trotted out financial bailout, the US economy will suffer a recession. The severity could potentially be mitigated by a timely, insightful plan, however the magnitude of the dead weight losses resulting from years of excessive reliance upon debt creation, loan pushing, borrowers’ fraud, rating agency and regulatory incompetence, and mis-guided monetary policy under Chairman Greenspan suggest that the length and depth of the incipient recession will be long and deep."

Ron Solberg

October 10, 2008

"When the history of this debacle is written, Washington’s failure to supervise and rein in Fannie and Freddie will be seen as the original sin."

John Fund

"Obama and Biden talk incessantly about unifying us yet employ divisive class-envy tactics to demonize and alienate major producers in this country. They have to know, unless they are self-brainwashed into sheer functional incompetence, that they are lying and dividing the people they’ve promised to bring together."

David Limbaugh

"So, yes, our recent financial turmoil does suggest failure – a failure to truly practice capitalism and a failure to accept and believe in the value, appropriateness and morality of a limited government and maximum personal responsibility."

Larry Elder

"Government is no more than taxpayers hiring the most inefficient organization to do the job."

James Cook

October 9, 2008

"Barack Obama has what can only be described as a Messianic vision of his own powers. It is beyond hubris; it verges on delusional."

Linda Chavez

"Like Roosevelt, Obama would be full of clever ideas to solve the nation’s economic problems; like Roosevelt’s, his ideas would mostly be half-baked leftist panaceas that did more harm than good, prolonging the downturn and leading the nation a substantial distance further towards the nightmare of the leviathan state. His rhetoric is so good, however, that the electorate would not notice his economic failures and would happily re-elect him as they did Roosevelt in 1936."

Martin Hutchinson

"Over the longer term, U.S. equities, bonds and the greenback should suffer terribly, while gold and silver prices should boom."

John Williams

"Fannie Mae revealed it overstated earnings by $10.6 billion and that it didn’t really know what was going on. Tlhe Bush administration pushed for reforms, but those efforts were rebuffed by Congress, with Democrats Barney Frank and Christopher Dodd taking point, because Fannie and Freddie have spent millions in campaign contributions."

Jonah Goldberg

October 8, 2008

"Obama will only come clean about his liberalism when he thinks he is in safe territory, as he did at the San Francisco fundraiser where he trashed small-town Americans, thinking his words wouldn’t reach those he was belittling. Nor is Obama upfront about the liberal nature of his policy proposals, choosing instead to mask their liberalism and even disguise them as conservative."

David Limbaugh

"The mass immigration we’re experiencing by the uneducated and unskilled is having a disastrous impact on the most vulnerable of our fellow citizens: the unemployed, partially employed, the elderly still working, African American males, recent legal immigrants, young people entering the job market, and all working-class or lower-middle class Americans with no more than a high school education."

Jamie Glazov

"It is obvious that increasing capital gains taxes by a minimum of one-third and possibly doubling them, both of which Obama has proposed during his campaign, would send a clear signal to investors to keep their money under the mattress. Who would buy stock now knowing that the tax on any profits he or she will make is going to go up sharply if Obama becomes president."

Dick Morris & Eileen McGann

"The current financial crisis stems in large part from the fact that people who shouldn’t have been buying a home, or who bought more home than they could afford, now can’t pay their bills. Their bad mortgages are mixed up with the good mortgages. And thanks in part to new accounting rules set up after Enron, the bad mortgages have contaminated the whole pile, reducing the value of even stable mortgages."

Jonah Goldberg

October 7, 2008

"Endless reports and many books have been written documenting Barack Obama’s discipleship in the thug tactics of Saul Alinsky’s ‘Rules for Radicals.’ For Obama, community organizing was not an innocuous vehicle for assisting the needy. It was and is a cynically dangerous vehicle for the politics of extortion and intimidation and the usurpation of power by socialists, whose ideology and methods more closely resemble those of Josef Stalin than those of Mother Teresa."

David Limbaugh

"The government forced banks to prove they weren’t ‘redlining’ – i.e., discriminating against minorities – by approving loans to minorities and various left-wing ‘community group’ shakedown artists whether they were bad risks or not. (A young Barack Obama got his start with exactly these sorts of groups.)"

Jonah Goldberg

"In 1930, before Franklin Delano Roosevelt’s New Deal, taxpayers paid about 12 percent of their income to all three levels of government – state, local and federal. Today we pay approximately 40 percent."

Larry Elder

"Those who resist gold ownership the longest will suffer the greatest loss."

James Cook

October 6, 2008

"It is now common knowledge that his pastor for twenty years, Reverend Jeremiah Wright, called on God to ‘damn America’ and that one of Obama’s early political allies, convicted terrorist William Ayers, expressed regret that he was unable to ‘do enough’ when it came to ‘setting bombs.’ Before Messrs. Wright and Ayers, though, there was ‘Frank,’ the name Obama gives in his memoirs to a man he describes as a formative influence during his early years in Hawaii. It turns out this Frank was none other than Frank Marshall Davis….. Cliff Kincaid reports that during the 19 years Davis was under FBI surveillance, Obama’s mentor ‘spent much of his time’ photographing Hawaii’s shorelines and beachfronts – presumably not for their scenic value."

Frank J. Gaffney, Jr.

"When we strip away all the complexity, we discover that social planning largely led to this debacle. Government politicians and bureaucrats forced lending institutions to make un-creditworthy loans and helped create unnatural demand in the housing market by priming the pump on bad loans. This created an unnatural price bubble in real estate, which was securing these ill-advised loans. When the bubble inevitably burst, the mortgages secured by the artificially inflated real estate plummeted in value, which left us with an epidemic of grossly under-secured loans."

David Limbaugh

"Franklin Raines, the Clinton-appointed former head of Fannie Mae from 1998 to 2004, made it his top priority to make mortgages easier to get for people with poor credit, few assets and little money for a down payment."

Jonah Goldberg

"In 1980 there were fewer than 100 talk shows nationwide. Today there are more than 1,400 stations entirely devoted to talk formats. Liberals, not satisfied with their domination of academia, Hollywood and most of the mainstream media, want to kill talk radio, where liberals have been unable to dent conservatives’ dominance."

George Will

October 3, 2008

"And, guess what this liberal will be about? This liberal will be about socializing… uh, will be about, basically taking over and the government running all of your companies."

Rep. Maxine Waters

"The further left you go, the more insular you get. Americans on the left tend to talk only to one another; study only under left-wing teachers; and read only fellow leftists. That is why it is a shock to so many liberals when a Republican wins a national election – where do all these Republican voters come from?

Dennis Prager

"Many of our health care problems can be traced to increased government control and the reduction of market forces. Yet the liberal solution is full-blown nationalized health care. Never mind that it doesn’t work anywhere in the world and always leads to waiting lines and inferior health care. Never mind that the United States has the best health care in the history of the world, notwithstanding admittedly serious problems."

David Limbaugh

"The further that currencies are removed from gold the closer they are to requiring it."

James Cook

October 2, 2008

"Over the longer term, U.S. equities, bonds and the greenback should suffer terribly, while gold and silver prices should boom."

John Williams

"History has shown that liberal prescriptions don’t work, but when they fail, liberals invariably not only deny responsibility for their do-gooder manipulation but also insist on even more government intrusion. Think of it as ‘the hair of the dog’ remedy on steroids."

David Limbaugh

"We created the phony populist creed that everyone deserved to own a house. So lawmakers got the message to relax lending standards in service to ‘fairness.’ But Americans forgot that historically nearly four in 10 of us aren’t ever ready, or able, to sacrifice for a down payment, monthly mortgage bills, home maintenance and yearly taxes – and so should stick to renting."

Victor Davis Hanson

"The beautiful thing about our economic system is that bad decisions are punished in the marketplace."

Jonah Goldberg

October 1, 2008

"Free Market conservatives understand that many problems have been caused by government’s officious intermeddling in the private sector. The subprime mortgage crisis is no exception."

David Limbaugh

"Whatever is left of the economy after the current round of crisis interventions by the Fed could go down the drain if Obama is elected and carries out his plans for sharp increases in taxation."

Dick Morris & Eileen McGann

"In 1999, liberals were bragging about extending affirmative action to the financial sector. Los Angeles Times reporter Ron Brownstein hailed the Clinton administration’s affirmative action lending policies as one of the ‘hidden success stories’ of the Clinton administration, saying that ‘black and Latino homeownership has surged to the highest level ever recorded.’ Meanwhile, economists were screaming from the rooftops that the Democrats were forcing mortgage lenders to issue loans that would fail the moment the housing market slowed and deadbeat borrowers couldn’t get out of their loans by selling their houses. A decade later, the housing bubble burst and, as predicted, food-stamp-backed mortgages collapsed. Democrats set an affirmative action time-bomb and now it’s gone off."

Ann Coulter

"The proposed bailout of financial institutions enables the Fed to create hundreds of billions of dollars out of thin air. The cost is greater inflation – a stealth tax on us all."

Larry Elder

September 30, 2008

"Let’s be vigilant in not allowing our politicians to succumb to the siren song of those enemies of free enterprise who would exploit the current financial crisis to further their socialistic objectives for the health care industry and other key sectors of our economy."

Joseph A. Klein

"Why do liberals believe that if Obama loses it will be due to white racism? One reason is the liberal elite’s contempt for white Americans with less education – even if they are Democrats."

Dennis Prager

"Franklin Raines, CEO of the Federal National Mortgage Association (Fannie Mae) from 1999-2004, is the individual most responsible for the subprime mortgage crisis. It was on Mr. Raines’ watch that Fannie Mae went bankrupt. He was accused of manipulating earnings statements so he could be paid bonuses to which he was not entitled."

Jack Kelly

"In a market economy the effects of bad economic policy may take a lifetime to unfold."

James Cook

September 29, 2008

"Part of the problem is the ‘multicultural’ ideology that says all cultures are equally valid. It is hard even to know what that means, much less take it seriously as a guide to living in the real world."

Thomas Sowell

"It is not likely that the systemic solvency crisis is behind us, and it is too late to prevent a recession. The inflationary recession was well underway before the housing/mortgage crisis, and little can be done to stimulate economic activity, to contain inflation or to provide a long-term prop to equity values. The government, however, does have the ability to support depositor safety, to prevent a collapse of the related financial services industry and to prevent a deflation in the prices of goods and services. Indeed, the cost of systemic salvation is price inflation."

John Williams

"The real reason to own gold is that governments are in the process of debasing their currencies in order to alleviate the pain of souring economies that were built on a fundamentally flawed principal – that more easy money can solve the problems created by prior easy money."

Tim Iocono

"The Left is exulting in the near melt-down of our free market financial system. Socialists see the housing credit catastrophe – and the role of the federal government in trying to right what they consider to be the sinking capitalistic ship – as vindication of their belief that all key industries in our economy should be nationalized. The free market is dead, they proclaim. Long live central planning and control."

Joseph Klein

September 26, 2008

"Racism is about 18th on a list of problems that black America faces."

Shelby Steele

"We have a radical elite, an elite that believes in climate change, gay marriage, unrestricted abortions, and the United Nations. We have an elite that intends to make massive, liberal changes to every aspect of American life. This elite ruins almost everything it touches - from the schools, to the media, to the universities. Giving more power to the elites means watching the United States become more and more like Europe."

Laura Ingraham

"The credit crunch and foreclosure problems are failures of government policy. In fact, what we see now is a market correction to foolhardy government policy. Congress’ move to bailout lenders and borrowers who made poor decisions will simply create incentives for people to make unwise decisions in the future. English philosopher Herbert Spencer said, ‘The ultimate result of shielding men from the effects of folly is to fill the world with fools."

Walter Williams

"The economic policy that generally prevails is the one where half measures are employed."

James Cook

September 25, 2008

"Time and again, experience has shown that while private enterprise, carried on in an environment of open competition, delivers the best products and services at the best price, government intervention stifles initiative, subsidizes inefficiency, and raises costs."

Burton W. Folsom, Jr.

"The gold and currency markets, in particular, remain subject to jawboning and both covert and overt central bank intervention, aimed at discouraging investors from seeking safety in gold or outside the greenback."

John Williams

"This isn’t a failure of capitalism; the Fed isn’t a capitalist institution, and the United States hasn’t had a capitalist financial system since it abandoned the link to gold in 1933. It is instead a failure of government."

Martin Hutchinson

September 24, 2008

"The problems that plague the Venezuelan economy transcend Chavez and his misrule. Chavez himself is a consequence of the unsurprising failure of socialism and mercantilism that were implanted gradually in Venezuela."

Hugo J. Faria

"An honest examination of our economic history – going back long before the twentieth century – reveals that, more often than not, when government programs and individual enterprise have gone head to head, the private sector has achieved more progress at less cost with greater benefit to consumers and the economy at large."

Burton W. Folsom, Jr.

"The academic feminist left has scared the dickens out of mainstream men and women for so long, the liberal establishment is terrified to contradict feminists’ nigh-upon-theological conviction that female authenticity is measured by one’s blind loyalty to left-wing talking points. This is a version of the Marxist doctrine of ‘false consciousness,’ which holds that you aren’t an authentic member of the proletariat unless you agree with Marxism."

Jonah Goldberg

"After the $85 billion bailout announced recently for AIG, the Fed and the U.S. Treasury today began creating serious new money in the system, a process that eventually will end in a hyperinflation and complete debasement of the U.S. dollar."

John Williams

September 23, 2008

"When people leave it to others to stop the national government from taking unconstitutional actions that threaten liberty, they are free riding on other people’s efforts to preserve liberty. The difficulty, as with all public goods, is that everyone faces incentives to free ride. If most people free ride, liberty will perish. No one should be surprised, then, that officeholders at the highest levels of all three branches of the national government now behave with impunity in stretching the Constitution to suit their personal predilections or political objectives."

Charlotte Twight

"If government is so bad, why do we have so much of it?…the democratic system itself can be used to redistribute income from one group of voters to another. Once that process has taken place a large proportion of the electorate can pay nothing towards the costs of the state, but can vote for others to hand over money for their benefit, while a minority of the electorate pays a quite disproportionate share of the costs of the state."

David B. Smith

"Once we recognize that attitudes to borrowing in the US economy have been pathological for the last decade or more, the true culprit for our coming troubles becomes clear. The Federal Reserve, by expanding the money supply at a 4% faster annual rate than output for the 13 years since 1995, has made borrowing both excessively cheap and excessively easy to obtain."

Martin Hutchinson

"Government is socialism."

James Cook

September 22, 2008

"The creation of the world – said Plato – is the victory of persuasion over force… Civilization is the maintenance of social order, by its own inherent persuasiveness as embodying the nobler alternative. The recourse to force, however unavoidable, is a disclosure of the failure of civilization, either in the general society or in a remnant of individuals…"

Alfred North Whitehead

"The mortgages owned or guaranteed by Fannie and Freddie are over $5 trillion and thus are of an equivalent order of magnitude to the U.S. Treasury Securities outstanding. In other words, Fannie and Freddie’s obligations are equivalent to approximately 100% of the Treasury’s outstanding debt. What foreign investor in his right mind (and China alone owns over $1 trillion of U.S. Treasury Securities) would continue to view Treasury Securities (not to mention the U.S. Treasury has taken on an additional liability of $5 trillion – an amount equal to all the Treasury Securities already outstanding?"

Deepcaster

"It should be noted that people in the free market rarely bear false witness; integrity is the rule. The morning milk, phone calls, planes the airlines buy, autos by the millions – no one could list the instances – are as represented. We have daily, eloquent, enormous testimony that the Ten Commandments can be and are observed by fallible human beings. Contemporary politics is the most glaring of all exceptions."

Leonard E. Read

September 19, 2008

"The debt-based paper money of the Federal Reserve will not only be responsible for a deflationary collapse as it was in the 1930s, its continued excessive printing will be responsible for the hyperinflation that will succeed the present inflation now in motion around the world. Currently, inflation in Turkey is 12.1%, Vietnam is 28.3% (Vietnam was the world’s largest importer of gold in January as investors bought gold as a protection against inflation but since June 23rd, Vietnam has prohibited the importation of gold.) South Africa inflation is at 13% and as per the calculations of John Williams at ShadowStats.com, the rate of inflation in the US is 13.64%."

Darryl Schoon

"The U.S. government can pay its obligations only by further borrowing or further printing of money, either which means that a long-term disaster for the U.S. Dollar is ensured."

Deepcaster

"Capitalism corrects negative political and social beliefs."

James Cook

September 18, 2008

"In the economic sphere an act, an institution, a law produces not only one effect, but a series of effects. Of these effects, the first alone is immediate; it appears simultaneously with its cause; it is seen. The other effects emerge on subsequently; they are not seen; we are fortunate if we foresee them. There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen. Yet this difference is tremendous; for it almost always happens that when immediate consequence is favorable, the later consequences are disastrous, and vice versa. Whence it follows that the bad economist pursues a small present good that will be followed by a great evil to come, while the good economist pursues a great good to come, at the risk of a small present evil."

Frederic Bastiat

"The Fed will doubtless continue to inflate the money supply which should further weaken and likely destroy the U.S. Dollar in the long-term."

Deepcaster

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

Mark Skousen

September 17, 2008

"The Fed and the Treasury will do whatever is necessary to save any entity that might otherwise implode the system. They will create and spend any money needed, they will arm-twist anyone they have to, they will manipulate any market, financial statistic or news medium that will help contain the still-intensifying crisis. Failure here is not an acceptable option."

John Williams

"The tale of how the two GSE’s [Fannie & Freddie] got to this point is a long and sorry one. It is a story of quite staggering ineptitude on the part of company management, the financial regulators, the Federal Reserve, the US Treasury, and the US Congress."

Rob Lee

"Do not be deluded by Official or quasi-Official assurances that Taxpayer losses may be $200 billion at most. The fact is that the U.S. Government (i.e. U.S. Taxpayers) are on the hook to provide Fannie and Freddie with as much Equity Capital as needed to cover all future losses from mortgage defaults. In fact, those future losses are likely to be a minimum of ONE TRILLION Dollars."

Deepcaster quoting Patrick Heller

September 16, 2008

"Our government officials create too many laws and spend too much money. It’s all because they claim to have the best interests of the people at heart when in fact, knowingly or unknowingly, they do not."

Jack Crooks

"When the left tires of hurling whore insults, it turns conservative women in the public eye into nefarious creatures. Bill Maher called Laura Bush ‘Hitler’s dog.’ George Carlin attacked Barbara bush as ‘the silver douche bag.’ A Huffington Post website member wrote of Nancy Reagan: ‘Like her evil husband, she has lived far too long. Here’s hoping the hag suffers for several weeks, then croaks in the tub.’"

Michelle Malkin

"You don’t have to be rich to be skeptical when a candidate argues that the top 1 percent of taxpayers, who already pay 40 percent of federal income taxes, aren’t being taxes enough. Nor do you have to be an economist to wonder about the grasp of a nominee who tells 95 percent of the public that they can have something for nothing."

Jeff Jacoby

"Your kids either learn your philosophy or they learn someone else’s."

James Cook

September 15, 2008

"If the history of welfare teaches us anything, it teaches us that government money is as addictive as any narcotic."

Michael D. Tanner

"What both the left and the right overlook is our Founders’ wisdom about the limits and dangers of government."

Ed Crane

"The way to maximize production is to maximize the incentives to production. And the way to do that, as the modern world has discovered, is through the system known as capitalism – the system of private property, free markets, and free enterprise."

Henry Hazlitt

"It is impossible to maintain a free society when more and more people look to the state to provide what Americans used to provide for themselves."

Warren Pollock

September 12, 2008

"ACORN’s political arm endorsed Obama in February and has ramped up efforts to register voters across the country. In the meantime, completely ignored by the mainstream commentariat and clean-election crusaders, the Obama campaign admitted failing to report $800,000 in campaign payments to ACORN. They were disguised as payments to a front group called ‘Citizen Services, Inc.’ for ‘advance work.’"

Michelle Malkin

"If any behavior needs to be reined it, it should be the propensity of people to use the political system to take other people’s money."

Jeffrey A. Singer

"The private economy, not government, creates opportunity. Government should just deliver basic services well and then get out of the private sector’s way."

Steve Melanga

"Life is always directing us towards finding a simple faith."

James Cook

September 11, 2008

"The broad outlook remains the same: further intensification of the inflationary recession and a deepening systemic and banking solvency crisis."

John Williams

"Last month, a New Mexico TV station reported on the child rapists, drug offenders and forgery convicts on ACORN’s payroll. In July, Pennsylvania investigators asked the public for help in locating a fugitive named Luis R. Torres-Serrano, who is accused ‘of submitting more than 100 fraudulent voter registration forms he collected on behalf of the Association of Community Organizations for Reform Now to county election officials.’ Also in July, a massive, nearly $1 million embezzlement scheme by top ACORN officials was exposed."

Michelle Malkin

"His [Obama] dreamy certitude that ‘alternative’ fuels will quickly become real alternatives is an energy policy akin to an old vaudeville joke: ‘If we had some eggs, we could have ham and eggs, if we had some ham.’"

George Will

"The more self involved you are the more miserable you are."

James Cook

September 10, 2008

"Last week, Milwaukee’s top election official announced plans to seek criminal investigations of 37 ACRORN employees accused of offering gifts to sign up voters (including prepaid gas cards and restaurant cards) or falsifying driver’s license numbers, Social Security numbers or other information on voter registration cards."

Michelle Malkin

"According to a recent study by the Media Research Center, ‘NBC Nightly News’ has the most lopsided pro-Obama coverage among national TV news operations. The MRC found that pro-Obama reports outnumber anti-Obama reports by 10 to one on ‘NBC Nightly News’ – an amazing statistic. With that in mind, let’s take a look at how NBC News might look sometime soon. ‘Hi, I’m Brian Williams. Thank you for joining us tonight. Before we get to our lineup this evening, I should tell you that I am wearing the same kind of suit Sen. Obama had on yesterday, and I like it very much. The fabric is soft and has an air of authority. I want to thank the senator for his good taste."

Bill O’Reilly

"Over the longer term, U.S. equities, bonds and the greenback should suffer terribly, while gold and silver prices should boom."

John Williams

"In this year’s campaign, soggy with environmental messianism, deranged self-importance and delusional economics, the question is: Where is the derisive laughter?"

George Will

September 9, 2008

"When it comes to the liberals’ treatment of Sarah Palin, it’s business as usual – and then some. For the past three decades, these guardians of the sacred codes of political correctness have been lecturing us about the patronizing treatment of women, telling us that any whiff of disparaging or discriminatory innuendo is evidence of full-blown sexism and actionable in the court of public opinion. Yet when Sarah Palin comes along and injects her pretty conservative countenance into the public square, she and her family are immediately fair game for the liberal talking class… their mission is to destroy Sarah Palin, whom they recognize as a threat to their grandiose plans for the coming political order under Barack Obama."

David Limbaugh

"Obama’s community organizing days involved training grievance-mongers from the far-left ACORN (Association of Community Organizations for Reform Now). The ACORN mob is infamous for its bully tactics (which they dub ‘direct actions’); Obama supporters have recounted his role in organizing an ambush on a government planning meeting about a landfill project opposed by Chicago’s minority lobbies. With benefactors like Obama in office, ACORN has milked nearly four decades of government subsidies to prop up chapters that promote the welfare state and undermine the free market, as well as some that have been implicated in perpetuating illegal immigration and voter fraud. Since I last detailed ACORN’s illicit activities in this column in June (see "The ACORN Obama knows,’ June 19, 2008), the group continues to garner scrutiny from law enforcement."

Michelle Malkin

"Why is it reporters who were willing to pursue Bristol Palin, who isn’t on the ballot, somehow think it is unseemly to ask Sen. Obama tough questions about his drug use? Oh, that was a long time ago, they’ll argue. But a 1986 arrest for driving while impaired by Gov. Palin’s husband – not the candidate – is somehow worthy of extensive front-page coverage?"

Linda Chavez

"Cockroaches scatter when shocked by a flipped light switch. Grizzly bears attack when startled. And when caught napping by big news, the press corps floods the zone. Editors scream at underlings who missed the story. Networks fret they’ll be scooped. And all of a sudden, the norms and standards become a blur in the race to be first. In the case of Palin, the press vaulted over every principle and standard they’d established about what is and isn’t fair game, like O.J. Simpson leaping over luggage in the old Hertz commercials. It required the Jaws of Life to pry news of John Edwards’ affair out of the mainstream press. But when it came to the personal drama of Palin’s 17-year old daughter, the press clawed for morsels like they were golden tickets from Wonka Bars."

Jonah Goldberg

September 8, 2008

"The biggest story to emerge from the Republican National Convention was the media’s effort to destroy Gov. Sarah Palin. Members of the Fourth Estate behaved more like a Democratic fifth column this week than they did like honest reporters. Palin’s stunningly effective speech Wednesday night showed they will not easily take her down – but their malicious attacks on Gov. Palin’s family prove that they will stop at nothing to achieve their aim."

Linda Chavez

"Nobody is mocking community organizers in church basements and community centers across the country working to improve their neighbors’ lives. What deserves ridicule is the notion that Obama’s brief stint as a South Side rabble-rouser for tax-subsidized, partisan nonprofits qualifies as executive experience you can believe in. What deserves derision is ‘community organizing’ that relies on a community of homeless people and ex-cons to organize for the purpose of registering dead people to vote, shaking down corporations and using the race card as a bludgeon."

Michelle Malkin

"If you are a liberal darling, like Bill Clinton was for a decade and a half, you can exploit, abuse and sexually harass women and still be considered a champion of women’s rights."

David Limbaugh

"The Democratic nominee, who has been in steady retreat from his crowd-pleasing vows never to abandon conviction and principle, Thursday said nice and even grateful things about the war in Iraq. He conceded that John McCain’s advocacy of the surge was right and his own skepticism was wrong. ‘I think the surge has succeeded in ways that nobody anticipated,’ he told interviewer Bill O’Reilly of Fox News. ‘I’ve already conceded that it’s succeeded beyond our wildest dreams.’"

Wesley Pruden

September 5, 2008

"The Fed and the Administration will do whatever has to be done, create whatever money has to be created, in order to prevent a systemic collapse."

John Williams

"There never is a shortage of nonsensical political rhetoric, but really: Has there ever been solemn silliness comparable to today’s politicians tarting up their agendas as things designed for, and necessary to, ‘saving the planet,’ and promising edicts to ‘require’ entire industries to reorder themselves?"

George Will

"If you think the thing through, precedent to the global monetary crisis, the euro first had to stumble. Well, it now has. The next stage – and given the volatility of the situation, I don’t think we’ll have to wait long for it – will be the realization that there is no safe fiat currency. It is at that point that the massive hurricane, a crisis of confidence in the entire fiat system, will begin ravaging the global economy in earnest."

David Galland

"Without doubt there is no certainty."

James Cook

September 4, 2008

"Exxon Mobil does make $1,400 a second in profits – hear the sharp intakes of breath from liberals with pursed lips – but pays $4,000 a second in taxes and $15,000 a second in operating costs."

George Will

"When the trading herd wakes up to the fact that neither the U.S. dollar nor the euro, nor any other fiat currency, will protect them against the monetary storm that will soon begin tearing the roofs off their cozy offices, they’ll fall all over themselves in the rush for something that will: gold and other tangibles."

David Galland

"In the distance, I see a frightful storm brewing in the form of untethered government debt. I choose the words – ‘frightful storm’ – deliberately to avoid hyperbole. Unless we take steps to deal with it, the long-term fiscal situation of the federal government will be unimaginably more devastating to our economic prosperity than the subprime debacle and the record debauching of credit markets that we are now working so hard to correct."

Richard Fisher, CEO Dallas Fed.

"The United States..appears to be running the same type of fiscal policies that engendered hyperinflations in 20 countries over the past century."

Professor Kostlikoff

September 3, 2008

"Central energy planning and government-funded prizes are economic idiocy."

John Stossel

"There has been and will be resistance to the inevitable deep recession that is coming. The American consumer is not cutting back willingly. They are being dragged kicking and screaming towards the joys of frugality. The ‘material generation’ needs to dematerialize. My biggest concern is that our politician leaders and their cronies running our government will continue to try and reverse the normal capitalistic course of recession and expansion. Companies need to fail, housing needs to find its bottom based on supply, demand and price. Those who gambled must be allowed to lose and suffer the consequences. If the government attempts to shift the losses to those who lived lifestyles of thrift, an angry uprising will ensue. Government intervention in this natural process could lead to a decade long depression. Let’s hope that reasonable heads prevail."

James Quinn

"When we hear about rent control or gun control, we may think about rent or guns but the word that really matters is ‘control.’ That is what the political left is all about, as you can see by the incessant creation of new restrictions in places where they are strongly entrenched in power, such as San Francisco or New York."

Thomas Sowell

"The broad outlook remains the same: further intensification of the inflationary recession and a deepening systemic and banking solvency crisis. Near-term market recognition of these issues and growing global political tensions intensify the risks for unstable market conditions."

John Williams

September 2, 2008

"American presidents, through several administrations, have been publicly commenting moralistically on the internal affairs of other countries around the world. We have been criticizing friend and foe alike. Sometimes we have sounded like the world’s nanny. This has been more than a bad habit. Our nagging our friends and irritating our enemies has produced remarkably few benefits to anyone and much ill-will among countries whose cooperation we either have needed or will need."

Thomas Sowell

"McCain promises a $300-million prize to whoever develops a battery for an electric car. But the free market already provides plenty of incentive to invent a better battery. As George Mason University economist Donald Boudreaux writes, ‘Anyone who develops such a device will earn profits dwarfing $300 million simply by selling it on the market. There’s absolutely no need for any such taxpayer-funded prize.’"

John Stossel

"The leftist takeover of the liberal arts departments in nearly every American university has been an intellectual and moral calamity."

Dennis Prager

"Dominance and domineering are not the same. True dominance goes unnoticed."

James Cook

August 29, 2008

"Gold’s monetary value is not limited to protecting only against a failure in the U.S. dollar, but against any faltering fiat currency… a moniker that the euro deserves in spades. Not only is it backed by nothing, but it is also backed by no one."

David Galland

"Nothing is easier than for experts with that small band of knowledge to imagine that they are so much wiser than others. Central planning is only the most demonstrable failure of such thinking. The disasters from other kinds of social engineering involve much the same problem."

Thomas Sowell

"A far-left commentator working for NBC News put forth that Putin is not the villain in the Georgia action; America is because it encouraged Georgia to join NATO thereby annoying Russia. Once again, it was the United States that caused the violent confrontation. NATO was set up to protect democratic countries like, well, Georgia. But in the creepy world the far left inhabits, whatever happens is inevitably America’s fault."

Bill O’Reilly

"We look at religious zealots with disdain, but they are making mistakes in the name of God while the rest of us are just making mistakes."

James Cook

August 28, 2008

"Great things were expected from centrally planned economies. Their early failings were brushed aside as ‘the growing pains’ of ‘a new society.’ But, when centrally planned economies lagged behind free market economies for decade after decade, eventually even socialist and communist governments began to free their economies from many, if not most, of the government controls under central planning."

Thomas Sowell

"In a social democracy with a fiat currency, all roads ultimately lead to inflation."

Bill Fleckenstein

"The gathering storm has arrived. It will be long, painful and destructive. Those who prepared for the storm by not taking on excessive debt and living above their means, will ride it out unscathed. Those who built their house on sand by leveraging up and living the ‘good’ life, will see their house swept out to sea. The storm will pass and we will rebuild. Our country is resilient. The purging of this massive debt will result in the creative destruction that is the hallmark of American capitalism. New opportunities, new technologies and a new attitude will put us back on course."

James Quinn

"Jimmy Carter, saying that achieving energy independence was the ‘moral equivalent of war,’ called for ‘the most massive peacetime commitment of funds… to develop America’s own alternative.’ Then he wasted billions of our tax dollars on the utterly failed ‘synfuel’ program."

John Stossel

August 27, 2008

"In addition to the straight-up consequences of the government monetary prolificacy and businesses raising prices to try and stay afloat, there is something else feeding power to the storm… that the global fiat currency system will fail."

David Galland

"… we are in an economic environment where we have more to fear than fear itself…"

Lawrence Summers

"People suspect that the gold standard would disempower the nation-state as we know it, including its ability to wage endless wars. To me, this is the strongest case for reform. If we want freedom and peace, the gold standard is the topic that cannot and will not die."

Llewellyn Rockwell

"McCain and Obama talk constantly about how much they will ‘invest’ – with money taken from the taxpayers, of course – to achieve energy independence. ‘[W]e can provide loan guarantees and venture capital to those with the best plans to develop and sell biofuels on a commercial market,’ Obama said. What makes Obama think he’s qualified to pick the ‘best plans’? It’s the robust competition of the free market that reveals what’s best. Obama’s program would preempt the only good method we have for learning which form of energy is best."

John Stossel

August 26, 2008

"Obama has promised that ‘we will get 1 million 150-mile-per-gallon plug-in hybrids on our roads within six years.’ What a tranquilizing verb ‘get’ is. This senator, who has never run so much as a Dairy Queen, is going to get a huge, complex industry to produce, and is going to get a million consumers to buy, these cars. How? Almost certainly by federal financial incentives for both – billions of dollars of tax subsidies for automakers and billions more to bribe customers to buy cars they otherwise would spurn."

George Will

"It is common for ordinary parents, with no training in education, to homeschool their children and consistently produce better academic results than those of children educated by teachers with Master’s degrees and in schools spending upwards of $10,000 a year per student – which is to say, more than a million dollars to educate ten kids from K through 12. Nevertheless, we continue to take seriously the pretensions of educators who fail to educate, but who put on airs of having ‘professional’ expertise beyond the understanding of mere parents."

Thomas Sowell

"It is utterly shameful that Democratic House leaders have refused to schedule a vote on the U.S. – Colombia free trade deal. How can we treat Colombia so poorly and expect other countries to view us as a credible partner? If U.S. lawmakers understood how their rebuke of Colombia was hurting America’s image in the region, one hopes they would reconsider and approve the trade pact immediately."

Jaime Daremblum

"Too much money makes people stupid."

James Cook

August 25, 2008

"While McCain has complained about media favoritism toward Obama, most recently about NBC News’ tilted coverage, maybe he ought to encourage it. Resentment over the media love affair with Obama might be McCain’s most powerful weapon. The fawning coverage exaggerates even routine Obama events, and when he fails to meet giddy expectations, the excuse machine warps into overtime. That, in turn, creates another unappealing layer of media-imposed conventional wisdom."

Michael Goodwin

"Throughout his career, Obama has worked closely with a network of stone-cold socialists and full-blown communists striving for ‘economic justice.’"

Investors Business Daily

"No one is in a position to restrain the president, the congress, or the courts so long as the dollar is as printable as paper. Matters of fiscal policy become purely illusory. This is the most dishonest form of finance there is. It makes a mockery of elections, debates, budgets, and just about every other aspect of government."

Llewellyn Rockwell

"It must be understood that ending programs for the poor (via phase-out) is logically the last step in the process of desocialization, and there is a hideous glut of statism before we ever reach that point."

Barry Loberfield

August 21, 2008

"Medicaid was supposed to help the poor, but one of its most expensive roles is to serve as ‘inheritance insurance’ for the wealthy. One of the fastest-growing areas of legal practice involves helping the affluent qualify for Medicaid long-term care."

Dr. Jane M. Orient

"When John McCain looked into Vladimir Putin’s eyes, he saw ‘a K, a G, and a B.’ He is our Winston Churchill. We will need him soon."

Jack Kelly

"A rough measure of broad money in the world’s 20 largest economies is growing at near 20%, year-over-year, in dollar terms."

Grant’s Interest Rate Observer

"For hundreds of years, lawyers have been taught the sanctity and importance of the attorney-client privilege and the attorney work product protection as central to our adversary system of justice. Indeed the existence of that privilege and that protection helps to define the role of lawyers in society and the public’s perception of the fairness with which the legal system operates. At least in the context of investigations of organizations and their employees, all this is being irreparably destroyed by the government’s successful assault on centuries of tradition."

N. Richard Janis

August 20, 2008

"In Kenya’s recent civil unrest, Obama privately phoned the leader of the opposition Luo tribe, Raila Odinga, to voice his support. Odinga is so committed to communism he named his oldest son after Fidel Castro."

Investors Business Daily

"Statism is the disease that prescribes itself as the cure."

Barry Loberfield

"The wind venture, as Pickens himself acknowledges, depends on permanent federal subsidies."

Michelle Malkin

"A derivatives-related disaster whose full cost is not yet apparent is the collapse of Fannie Mae and Freddie Mac. Again, those institutions were based on a lie, that they were really private sector companies that could be relied upon to pursue profit in a rational fashion, without endangering the national solvency by their default. In practice, they leveraged more than would have been possible without the government’s quasi-guarantee, lobbied like crazy to ensure they were not properly regulated and collapsed thankfully into the arms of the taxpayer as soon as ill winds began to blow."

Martin Hutchinson

August 19, 2008

"A careful reading of Obama’s first memoir, ‘Dreams From My Father,’ reveals that his childhood mentor up to age 18 was a man he cryptically refers to as ‘Frank’ was none other than the late communist Frank Marshall Davis, who fled Chicago after the FBI and Congress opened investigations into his ‘subversive,’ ‘un-American activities.’ As Obama was preparing to head off to college, he sat at Davis’ feet in his Waikiki bungalow for nightly bull sessions. Davis plied his impressionable guest with liberal doses of whiskey and advice, including: Never trust the white establishment. ‘They’ll train you so good,’ he said, ‘you’ll start believing what they tell you about equal opportunity and the American way and all that sh**.’ After college, where he palled around with Marxist professors and took in socialist conferences ‘for inspiration,’ Obama followed in Davis’ footsteps, becoming a ‘community organizer’ in Chicago. His boss there was Gerald Kellman, whose identity Obama also tries to hide in his book. Turns out Kellman’s a disciple of the late Saul ‘The Red’ Alinsky, a hard-boiled Chicago socialist who wrote the ‘Rules for Radicals’ and agitated for social revolution in America. The Chicago-based Woods Fund provided Kellman with his original $25,000 to hire Obama. In turn, Obama would later serve on the Woods board with terrorist Bill Ayers of the Weather Underground. Ayers was one of Obama’s early political supporters. After three years agitating with marginal success for more welfare programs in South Side Chicago, Obama decided he would need to study law to ‘bring about real change’ on a large scale."

Investors Business Daily

"Even the mainstream press is shocked at the machinations of Ben Bernanke’s Federal Reserve, as it resorts to every means not only to print new money, but to force it into the banking system through bribes and trickery."

Llewellyn Rockwell

"Sophocles wrote, ‘There is a point beyond which even justice becomes unjust.’ Our current system of justice, at least insofar as it applies to investigations of corporations, other organizations, and their employees has already reached such a point."

N. Richard Janis

"Do not enumerate your fears every night, but fight them off with faith."

James Cook

August 18, 2008

"If you really want to help the poor, help the rich. They’re the ones who will invest, build more factories, create more jobs."

William E. Simon

"Foreign aid: the ‘transferring [of] money from poor people in rich countries to rich people in poor countries."

Lord Bauer

"Anyone who is serious about people being free to express themselves with their votes wants a secret ballot. The problem for labor unions is that workers in the private sector increasingly vote against being represented by unions. The proportion of workers in the private sector who are represented by unions has fallen below 10 percent. Since unions are losing the game under the current rules, their obvious answer is to change the rules."

Thomas Sowell

"We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent money system."

Robert H. Hemphill, Credit Manager Atlanta FED

August 15, 2008

"Politically, what matters to the left-wing base that Obama has been playing to for decades is sticking it to ‘the rich.’ What effect that has on the tax revenues received by the government is secondary, at best."

Thomas Sowell

"The levels of taxation advocated by liberals render those taxes a veiled form of theft. ‘Give me more than half of your honestly earned money or you will be arrested’ is legalized thievery."

Dennis Prager

"A committee led by Gerald Corrigan, former vice chairman of the Federal Reserve Bank of New York, produced a report this week that promises to revolutionize finance. It proposes to place severe limits on derivatives, bringing them under the ambit of regulators and protecting retail investors from their more egregious products."

Martin Hutchinson

"Humiliation brings humility."

James Cook

August 14, 2008

"Today, 70 cents of every [welfare] dollar goes, not to poor people, but to government bureaucrats and others who serve the poor."

Michael Tanner

"What’s most cruel about government intervention in the economy is not how it stops us from helping the poor, but how it stops the poor from helping themselves."

Barry Loberfeld

"Past and ongoing experience demonstrates the unreliability of wind and the miserably low operating capacity of wind power facilities here and around the world."

Michelle Malkin

"Surprisingly, The Washington Post’s editorial page editor, Fred Hiatt, put his finger precisely on the liberal mindset concerning Republican challenges to their Democratic rivals and their policies. Hiatt says it is ‘an article of faith among many Democratic believers … that Democratic policies are so obviously superior, and so much more in the interest of a majority of voters, that only some form of chicanery can explain Republican election victories. In this view of the world, Republican operatives … manipulate … issues … to deceive people to vote against their economic self-interest. Or they inflate security threats to frighten them into voting against their self-interest.’ Bingo and kudos."

David Limbaugh

August 13, 2008

"Obama doesn’t stop with socialized health care. He wants to socialize your entire human resources department from payrolls to pensions. His social-microengineering even extends to mandating all employers provide seven paid sick days per year to salary and hourly workers alike. You can see why Obama was ranked, hands-down, the most liberal member of the Senate by the National Journal."

Investors Business Daily

"When the government is the counterfeiter, the counterfeiting process not only can be ‘detected’, it proclaims itself openly as monetary statesmanship for the public weal. Monetary expansion then becomes a giant scheme of hidden taxation, the tax falling on fixed income groups, on those groups remote from government spending and subsidy, and on thrifty savers who are naïve enough and trusting enough to hold on to their money, to have faith in the value of the currency."

Murray N. Rothbard

"The tipping point has been reached. The biggest consumption party in the history of the world is now over and the hangover will be felt for years to come."

Kurt Kasum

"The bigger government gets and the more powerful the state becomes, the greater the threat to individual liberty and the greater the likelihood that evil will ensue. In the 20th century, the powerful state, not religion, was the greatest purveyor of evil in the world."

Dennis Prager

August 12, 2008

"It is no overstatement to say that the enforcement of the criminal law, at least insofar as it applies to investigations of organizations, amounts to a state-sponsored shakedown scheme in which business firms are extorted to pay penalties that are grossly out of proportion to any actual misconduct."

N. Richard Janis

"While the media are stunned that Obama is not resonating in line with their expectations, others wonder how he can resonate at all, given his McGovernesque, leftist agenda and his damning associations with America-hating preachers (Jeremiah Wright and Michael Pfleger), terrorists and radicals (William Ayers and Bernadine Dohrn) and a mentor (Frank Davis) who was a member of the Moscow-controlled Communist Party USA and who, according to Investor’s Business Daily, ‘fled Chicago after the FBI and Congress opened investigations into his ‘subversive,’ ‘un-American activities.’"

David Limbaugh

"The body likes habits."

James Cook

August 11, 2008

"The consumption binge is over. The great unwind of debt and leverage for most has started."

Kurt Kasun

"I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents."

James Madison

"It’s clear from a close reading of his [Obama] two books that he’s a firm believer in class envy. He assumes the economy is a fixed pie, whereby the successful only get rich at the expense of the poor. Following this discredited Marxist model, he believes government must step in and redistribute pieces of the pie. That requires massive transfers of wealth through government taxing and spending, a return to the entitlement days of old."

Investors Business Daily

August 8, 2008

"Government income redistribution programs produce the same result as theft. In fact, that’s what a thief does; he redistributes income. The difference between government and thievery is mostly a matter of legality."

Walter Williams

"Monetary expansion is a massive scheme of hidden redistribution."

Murray N. Rothbard

"If there is no dominance there will be no order."

James Cook

August 7, 2008

"Monetary inflation not only raises prices and destroys the value of the currency unit; it also acts as a giant system of expropriation."

Murray N. Rothbard

"Whether we want to own up to it or not, the welfare state has done what Jim Crow, gross discrimination and poverty could not have done. It has contributed to the breakdown of the black family structure and has helped establish a set of values alien to traditional values of high moral standards, hard work and achievement."

Walter Williams

"What happens when about half the nation becomes repulsed by Obama’s efforts to socialize medicine, use the tax code to redistribute wealth even more radically, retreat and surrender in Iraq despite the turning of the tide in that war and the consequences that would flow, negotiate with terrorists, and inject even more life into social liberalism?"

David Limbaugh

August 6, 2008

"In our self-obsessed, entitlement age, politicians send the message that if you’re breathing you should expect a government check. Few want to hear a message about personal responsibility and accountability. The Obama disciples want to hear more about what government will do for them, not what they can do for themselves in a free country that offers opportunity to those who will seize it. They want to punish ‘the rich,’ who they used to want to emulate, but now just envy. And so those few who are already paying more than half the taxes are told they aren’t paying enough."

Cal Thomas

"Politics is largely the process of taking credit and putting the blame on others – regardless of what the facts may be."

Thomas Sowell

"Before friendly audiences, Barack Obama speaks passionately about something called ‘economic justice’…. ‘Economic justice’ simply means punishing the successful and redistributing their wealth by government fiat. It’s a euphemism for socialism."

Investors Business Daily (IBD)

"Doubling the tax in invested capital and ratcheting up the top tax bracket to an effective 60%, will plunge the nation into a real depression. Not a recession or a downturn or a correction or a slowdown."

Dick Morris

August 5, 2008

"Capitalism is the greatest system ever created for alleviating general human misery, and yet it breeds ingratitude."

Jonah Goldberg

"Unlike every other person and institution in society, government obtains its revenue from coercion, from taxation."

Murray N. Rothbard

"The dollar, seen as a store of value, has never been more suspect. One of the most grievous mistakes in US history was made when Congress in 1913 turned over our money to the discipline of men (the Federal Reserve) rather than to the discipline of gold. The transfer was unconstitutional (in fact, the Constitution warns against fiat money). We will pay dearly for this circumvention of the Constitution. In fact, we are paying for it now via taxes and inflation."

Richard Russell

"Socialism is the triumph of people’s prejudices over their reason."

James Cook

August 4, 2008

"If you ever hear a government official come out and say that an institution is fine, you know it’s time to get your money out because history shows they’re likely lying. Look what happened with Fannie and Freddie. The government said everything was fine right up to the day the US Treasury dropped the biggest government bailout of all time on the American taxpayer. The bill for Fannie, Freddie and the bank failures could cost the taxpayer over $400 billion. (That’s your money, of course.)"

Richard Benson

"Government bailouts are like potato chips: You can’t stop with just one."

Thomas Sowell

"There is in government a living impulse to extend itself indefinitely; and there is in freedom a necessity to resist that impulse."

Garet Garrett

"Freddie and Fannie are hopelessly bust. They have $5 trillion in obligations and $80 billion in capital. To be sure, on an accounting basis they are probably not bust yet. That is because defaults and foreclosures are very lagged in this cycle relative to nonpayment."

Frank Veneroso

August 1, 2008

"I’m convinced that time is now upon that some Big Events are about to occur. These fast approaching events will not go unnoticed. They will affect all of us. They will not be limited to just some areas of our country. The world economy and political system will share in the chaos about to be unleashed."

Karl Kasun

"It was established pretty convincingly by Milton Friedman, and proved beyond all doubt in the inflationary episodes of the 1970s and 1980s that if you want to bring inflation under control, you must set interest rates at a margin above the current inflation level."

Martin Hutchinson

"Throughout history governments have been chronically short of revenue. The reason should be clear: unlike you and me, governments do not produce useful goods and services that they can sell on the market; governments, rather than producing and selling services, live parasitically off the market and off society."

Murray N. Rothbard

"Liberals have one solution for every economic issue; eat the seed corn."

James Cook

July 30, 2008

"Last week Richard Fisher, head of the Dallas Federal Reserve Bank, ‘speaking solely in [his] own capacity,’ alerts us that ‘the unfunded liabilities from Medicare and Social Security…comes to $99.2 trillion over the infinite horizon.’"

Kurt Kasun

"The GSEs are now trapped in a precarious riptide where they must swim incredibly hard to barely tread water. This is an extremely tenuous position for the conventional mortgage marketplace, not to mention the increasingly credit-starved U.S. Bubble economy."

Doug Noland

"The natural tendency of government, once in charge of money, is to inflate and to destroy the value of the currency."

Murray N. Rothbard

"In the market economy the worker sells his services as other people sell their commodities. The employer is not the employee’s lord. He is simply the buyer of services which he must purchase at their market price."

Ludwig von Mises

July 29, 2008

"The Producer and Consumer Price Indexes announced last week were significant in that they sounded the death-knell of Bernankeism. No longer will it be possible to inflate the money supply by pretending that inflation in the real economy is not a problem; other means will have to be found to perpetuate the shell-game."

Martin Hutchinson

"The United States financial system is as fragile as can be. You can almost smell it in the air … another financial shoe is likely to drop soon. The mess is going to lead to a great deal of commotion and send gold and silver to new highs … and well beyond."

Midas

"The distinctive principle of Western social philosophy is individualism."

Ludwig von Mises

"Most people won’t be loyal unless there is something in it for them."

James Cook

July 28, 2008

"If government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this ‘inflation’ of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy."

Murray N. Rothbard

"Chinese exports to the oil-exporting nations grew by 45% last year, and exports to the other BRIC nations – Brazil, Russia and India – grew by 60% last year over the year before, and in fact are still growing at that pace. So the developing world has taken on a life of its own, independent of what is happening to the U.S. economy."

Lawrence Roulston

"If people cannot limit government they will not for long be free."

Garet Garrett

"Western civilization is based upon the libertarian principle and all its achievements are the result of the actions of free men."

Ludwig von Mises

July 25, 2008

"Government is the natural enemy of freedom."

Garet Garrett

"Commenting of the Jackson flap at the execrable Huffington Post, Dan Sweeney fondly reminisced: A couple months ago I wrote a blog entry here at HuffPo that ended by calling for the public castration of Grover Norquist. The comments that the good readers of the Huffington Post left at that blog entry were strongly approving, especially of the final line."

Ben Johnson

"All government operation is wasteful, inefficient, and serves the bureaucrat rather than the consumer."

Murray N. Rothbard

"All almsgiving inevitably tends to pauperize the recipient."

Ludwig von Mises

"It would be remarkable if what we believe about the afterlife turned out to be true."

James Cook

July 24, 2008

"The one thing Sen. Obama remains consistent on is that he’s the candidate of change. Now we know that this means he intends to change his positions as often as he feels necessary to win more votes."

Linda Chavez

"Gold is market money, a commodity which must be supplied by being dug out of the ground and then processed; but government, on the contrary, supplies virtually costless paper money or bank checks out of thin air."

Murray N. Rothbard

"China is by far the largest consumer of every metal. There’s still a perception that the Chinese economy is dependent on exports to the United States, but the reality is that exports to the U.S. represented only 2.1% of the Chinese economy last year. So if the U.S. economy slows by a couple of percentage points from where it was last year, it will have no noticeable impact on the Chinese economy or on other parts of the world."

Lawrence Roulston

"An essential point in the social philosophy of interventionism is the existence of an inexhaustible fund which can be squeezed forever. The whole system of interventionism collapses when this fountain is drained off: The Santa Claus principle liquidates itself."

Ludwig von Mises

July 23, 2008

"Gold gives three signals: inverse performance to the dollar, an inflation call, and a warning if a financial crisis impends…It is once again signaling that there is stormy weather ahead on Wall Street, just as there is stormy weather on the plains."

Don Coxe

"Never was it [Capitalism] imposed on life as a system, or at all. It grew out of life, not all at once but gradually, and is therefore one of the great natural designs. When it was found and identified by such men as Adam Smith, who wrote its bible, and Karl Marx, who wrote its obituary too soon, it was already working."

Garet Garrett

"The US is the only nation in the world that can print the currency that its own debt is denominated in. That’s an unbelievable ‘gift.’ But the US has been doing too damn much printing and too much debt creating. The world recognizes this, and it’s systematically moving away from dollars."

Richard Russell

"The policies advocated by the welfare school remove the incentive to saving on the part of private citizens."

Ludwig von Mises

July 22, 2008

"We have borrowed so much money from abroad. Our trade deficits are now very big, and our industrial base and our infrastructure has been allowed to decay for so long, that we are now at a point that we can only survive as an economy thanks to the charity of the rest of the world. They have provided us with all the goods that we can no longer produce because we lack the industrial capacity. And they have to lend us the money because we don’t have savings anymore."

Peter Schiff

"In October 2004, UK Guardian columnist Charlie Brooker asked, ‘John Wilkes Booth, Lee Harvey Oswald, John Hinckley Jr. – where are you now that we need you?’ While protesting the War on Terror, some leftists carried signs proclaiming, ‘Bush is the disease. Death is the cure.’ Indeed, an entire film has been made – and favorably reviewed – imagining the assassination of President George W. Bush."

Ben Johnson

"To concede that there are social problems that cannot be corrected without the state is to give up the entire argument over the future of liberty itself."

Llewellyn Rockwell

"The Welfare State is merely a method for transforming the market economy step by step into socialism."

Ludwig von Mises

"All organizations tend to become incompetent."

James Cook

July 21, 2008

"The Left controls higher education more completely than any other aspect of American life. Not only is anti-Americanism rampant on the college campus, so too is a uniformity of opinion enforced with an iron hand."

Don Feder

"In the course of the twentieth century, supposedly sophisticated Europeans managed to create some of the most monstrous forms of government on earth – Communism, Fascism, Nazism – in peacetime, and to start the two World Wars, the bloodiest in all human history. In each of these wars, both the winners and the losers ended up far worse off than they were before these wars were started."

Thomas Sowell

"A group of Americans, retired teachers, recently went to France on a tour. Robert Whiting, an elderly gentleman of 83, arrived in Paris by plane. At French Customs, he took a few minutes to locate his passport in his carry on. ‘You have been to France before, monsieur?’ the customs officer asked sarcastically. Mr. Whiting admitted that he had been to France previously. ‘Then you should know enough to have your passport ready.’ The American said, ‘The last time I was here, I didn’t have to show it.’ ‘Impossible. Americans always have to show your passports on arrival in France!’ The American senior gave the Frenchman a long hard look. Then he quietly. Explained. ‘Well, when I came ashore at Omaha Beach on D-Day in ’44 to help liberate this country, I couldn’t find any Frenchmen to show it to.’ You could have heard a pin drop."

"Even if Obama means what he is saying as he moves to the center trying to win the general election, the fact is that he will be forced to move very far to the left should he become president, forced by the liberals in his own party."

Dick Morris & Eileen McGann

"The masses, in their capacity as consumers, ultimately determine everybody’s revenues and wealth."

Ludwig von Mises

July 18, 2008

"Those Americans who are pushing us toward the kinds of policies that Europeans impose on pharmaceutical companies show not the slightest interest in what the consequences of such laws have been. One consequence is that even European pharmaceutical companies do much of their research and development of new medications in the United States, in order to take advantage of American patent protections and freedom from price controls. There are the very policies that the European imitators want us to change. It is not a coincidence that such a high proportion of the major pharmaceutical drugs are developed in the United States. If we kill the goose that lays the golden egg, as the Europeans have done, both we and the Europeans – as well as the rest of the world – will be worse off, because there are few other places for such medications to be developed."

Thomas Sowell

"The earthquake [in China] brought into question the wisdom of constructing huge dams to provide electricity and water for rapid industrialization in a country where such powerful earthquakes are common. Building impressive dams, regardless of consequences, is a characteristic of Communist societies. When the U.S.S.R. collapsed, the outside world became aware of how ecologically destructive and economically inefficient the Soviets’ Big Dam policy in central Asia was. China seems determined to make similar mistakes."

Paul Johnson

"The great thing about gold is that it, and only it, is money supplied by the free market, by the people at work."

Murray N. Rothbard

"The wealth of the well-to-do of an industrial society is both the cause and effect of the masses’ well-being."

Ludwig von Mises

"Procrastinators are ideally suited to be government employees."

James Cook

July 17, 2008

"Increasing numbers of economists and historians have concluded that New Deal policies are what prolonged the Great Depression."

Thomas Sowell

"If significant down payments come to be required for GSE-related mortgages the effects will be felt immediately in neighborhoods all across the country – not to mention the acutely vulnerable consumption-based U.S. Bubble economy."

Doug Noland

"In 1970, one out of every 70 children born had a Mexican immigrant mother; today it’s one out of 10. No single foreign country has ever accounted for such a large share of births. Astonishingly, more than half of these mothers have not graduated high school."

Rich Lowry

"Fannie’s credit default swaps, a measure of credit worthiness on senior debt, have doubled since last month. You may recall that our legislators were recently considering Fannie and Freddie as the rescue vehicles for the housing foreclosure problem. Now it looks increasingly as if you and I will be the rescue vehicle for Fannie and Freddie."

Michael Berry

"There can be no economic justification for the government guaranteeing the great majority of the nation’s home mortgages, and the spurious ‘government sponsored enterprise’ structure of Fannie and Freddie merely hid the likely consequences of their default. Their senior employees have been paid like Wall Street for performing a function that was economically entirely unnecessary, and they have survived for more than 50 years simply through their ability to offer lucrative consulting contracts to ex-Congressmen and other politically well-connected people."

Martin Hutchinson

"If, as is generally the case, the heirs are not equal to the demands which life makes on an entrepreneur, the inherited wealth rapidly vanishes."

Ludwig von Mises

July 16, 2008

"In the course of human events it is necessary, now and again, to dissolve our political bands with the ninnies who keep abandoning our founding principles. It used to be self-evident that our government’s role was primarily to protect certain unalienable rights, such as life, liberty and the pursuit of happiness. It used to be that our government did the bidding of the people – that any power it derived was solely through the consent of the governed. It used to be our country believed in limited government – that government at its best was a necessary evil and should be aggressively restrained."

Tom Purcell

"Liberals complain that – as B. Hussein Obama put it – there’s ‘no way that allowing offshore drilling would lower gas prices right now. At best you are looking at five years or more down the road.’ This is as opposed to airplanes that run on woodchips, which should be up and running any moment now. Moreover, what was going on five years ago? Why didn’t anyone propose drilling back then?

Ann Coulter

"The state always poses a greater threat to society than whatever problem it purports to solve."

Llewellyn Rockwell

"Men are raised on high in order that they may fall more heavily."

Claudian

"Fortunes cannot grow; someone has to increase them."

Ludwig von Mises

July 15, 2008

"Jesse Jackson made himself a comfortable living in the racial-grievance industry. But this mindset of victimology has been enormously damaging and demoralizing to young black people who are led to think that no matter how hard they work, the deck is stacked against them. Jackson and his media enablers have spent two generations popularizing the warped idea that institutional racism is responsible for every major societal woe."

Laura Ingraham

"Now we find ourselves in the midst of another leg down with regard to the credibility of U.S. (and, increasingly, British) financial assets and economic structures overall. And while recent market tumult has not had the intensity of March’s acute de-leveraging, the ramifications of recent developments are more problematic. For one, the markets are now coming to grips with the reality that much of the massive apparatus of various types of Credit insurance is insolvent and has little chance of recovery. While the nature of these companies’ obligations may not require bankruptcy filings in the near-term, the market nonetheless recognizes that much of the future protection guaranteed by these companies/financial players has become worthless."

Doug Noland

"If the supply of goods were increasing, as it has been and if at the same time the quantity of money remained stable, prices would necessarily fall."

Kel Kelly

"Sell Everything…Nothing is Working."

Jim Cramer

"In capitalist enterprise there is no secure income and no security of wealth."

Ludwig von Mises

"A dogma will spread if it makes the believer feel superior to others."

James Cook

July 14, 2008

"Suddenly it is impossible that farmers should be trusted to conduct agriculture. As free and unrestrained individuals they ruin it and ruin themselves collectively. Where formerly there were six million farmers lying awake at night, each with his own problems, now for each kind of farmer… there is a bureau to stay awake for him, to do his thinking, to make his decisions…"

Garet Garrett 1934

"Liberals assure us that Reagan won landslide elections because Americans were mesmerized by his sunny disposition and corny jokes. If that’s true, why isn’t Al Roker president?"

Ann Coulter

"The cost of energy has become, almost overnight, the sole issue for everyone (and I mean everyone)."

Michael Berry

"Over the past 20 years, the US has transferred its wealth to foreign nations. In return, we received cheap goods, cheap oil, and a higher standard of living. Now, foreign nations are beginning to use the transferred wealth to improve their standards of living. They are competing with the US for basic commodities we assumed would always be available."

Richard Russell

"A wealthy man can preserve his wealth only by continuing to serve the consumers in the most efficient way."

Ludwig von Mises

July 11, 2008

"Record High Oil prices we are experiencing NOW will surely cause a hyperinflationary ripple effect for many months downstream, even if they begin to decline soon. Real U.S. Consumer Price Inflation is still nearly 12%, Real U.S. Unemployment nearly 14%, and Real Money Supply Inflation (M3) is still around 16% annualized according to the quite credible calculations of shadowstats.com."

Deepcaster

"Since the 1960s, a major goal of the left has been to weaken American national identity and replace it with other cultural, national, racial and ethnic identities (in effect, changing the motto of the United States from ‘From Many, One’ to ‘From One, Many’). It has pursued this goal through bilingual education, election ballots in multiple languages, numerical guidelines in American history textbooks concerning the percentage of space allotted to given minorities, opposition to declaring English America’s national language, and rendering the term ‘flag waving’ a pejorative that implies quasi-fascist sentiments."

Dennis Prager

"Treason permeates the Left. Its bastions – Hollywood, academia, the establishment media and the mainline churches – are nests of treason."

Don Feder

"The riches of successful entrepreneurs is not the cause of anybody’s poverty; it is the consequence of the fact that the consumers are better supplied than they would have been in the absence of the entrepreneur’s effort."

Ludwig von Mises

"The government should practice social Darwinism; everyone else should practice charity."

James Cook

July 10, 2008

"In effect, he [Obama] would legislate a 60 percent tax bracket for upper-income Americans, killing all initiative and innovation. He’d raise the top bracket to 40 percent. He’d apply FICA taxes to all income, not just that under $100,000 as at present. So add 40 percent plus FICA’s 12.5 percent plus Medicare’s 2 percent plus state and local taxes averaging, after deduction, at 5-6 percent, and you have a 6o percent bracket."

Dick Morris

"We are calibrating our investments toward a serious economic slowdown, but with high inflation…. Businesses and personal net worth will be devastated at the same time that costs run out of control."

David Galland

"Any report that details variations in wealth is greeted with the call for redistribution, an equalization of money and things – value –regardless of the cost. The line of thought runs in this direction: The United States is blessed by resources that are to be used for the benefit of all. Whenever one exceeds his allotted possession or enjoyment of those resources, he must share his excess equally with all others."

Jim Fedako

"Time magazine’s June 30 cover story is titled "The Great Wall of America: A billion-dollar barrier between the U.S. and Mexico. It’s reducing illegal immigration – but does America really need to wall itself off? This isn’t about walling ourselves off. This isn’t a Berlin Wall erected to keep people in. It is a fence designed to keep illegals out. Anyone who doesn’t understand the difference will not be persuaded by facts."

Cal Thomas

"Minimum wage rates, whether decreed and enforced by the government or by labor union pressure and violence, result in mass unemployment."

Ludwig von Mises

July 9, 2008

“The balance of probability [is] for a global downturn which combines the inflation of the 1970s with the severe recession and geopolitical danger of the 1930s. Not an appealing prospect.”

Martin Hutchinson

“The steep rise in prices - of housing, stocks and bonds, oil, gold, commodities, food prices, etc. that we have seen this decade - would be mathematically impossible without the increased supply of money circulating in the world economy.”

Kel Kelly

“If Carrot Top and Joey Buttafuoco were elected to Congress, it would improve the legislative branch’s reputation.”

Jonah Goldberg

“How do liberals propose we acquire the energy required for the economic activity and production that results in light appearing when they flick a switch? The larger enterprise involved in producing that little miracle eludes them.”

Ann Coulter

July 8, 2008

"We are living through the unthinkable… The list of casualties is very different. What has suffered most is the credibility of the most sophisticated financial systems in the world."

Mohamed El-Erian

"It has long been understood that politically connected people are moved to the front of the line for special medical procedures, which causes no small amount of envy among Canadians who might have to wait six months for an MRI and more than a year for knee or hip replacements."

William L. Anderson

"The Fed has assumed the onerous position of counter party on all the crap paper the banks have tendered."

Jim Sinclair

"Alarmists have been reduced to quoting other alarmists on the supposedly impending recession but that is still not the real thing. The definition of a ‘recession’ is very clear and straightforward: Two consecutive quarters of negative growth. We have not yet had one consecutive quarter of negative growth."

Thomas Sowell

"The only means to raise wage rates permanently for all those eager to earn wages is to raise the productivity of labor by increasing the per-head quota of capital invested and improving the methods of production."

Ludwig von Mises

"Government is not using modern technology so much to modernize and improve services as it is to regulate, punish, collect taxes and keep an eye on us. They’d rather rule than serve."

James Cook

July 7, 2008

"Entrepreneurs do not simply do business the way everyone else does; instead, they find new resources or take existing resources and change them to create new goods or to enhance existing services. Over time, in a free-market setting, entrepreneurs lower real costs to customers."

William L. Anderson

"…we haven’t been through anything like what we are going through now. The United States has really been living in a fool’s paradise, or a phony economy, probably for more than twenty years. But our economy has been growing bigger and bigger. We have been able to convince the world to lend us money and to provide us with goods that we don’t produce and that we can’t afford to pay for with exports. And it has gotten to the point now where the problem is so big, especially since the real-estate bubble."

Peter Schiff

"Given the strong possibility of a Democratic House, a Democratic Senate, and a liberal Supreme Court for decades to come, given the number of Supreme Court appointments a Democratic president will be able to make, an Obama victory will move America more radically leftward than ever in its history."

Dennis Prager

"In the gun control decision, there were justices who read the history and meaning of the Second Amendment differently. What was most dangerous, however, was Justice Stephen Breyer’s opinion that it was up to judges to weigh and ‘balance’ the pros and cons of gun control laws. If we have Constitutional rights only when judges like the end results, we may as well not have a Constitution."

Thomas Sowell

"Assistance granted to the unemployed does not dispose of unemployment. It makes it easier for the unemployed to remain idle."

Ludwig von Mises

July 3, 2008

"Throughout history, two commodities have been able to outcompete all other goods and be chosen on the market as money – two precious metals, gold and silver."

Murray N. Rothbard

"Guns are a particularly thorny issue for Democrats, who have long been the party of gun control, and whose strong left wing detests firearms and looks down on the ‘gun nuts’ who enjoy them. Liberal Democrats have generally seen the Second Amendment as an embarrassing constitutional anachronism. And they nurse a singular loathing for the National Rifle Association."

Jeff Jacoby

"America has tried everything? When was minding its own business – nonintervention – tried?

Sheldon Richman

"From 6/24/08 Financial Times ‘Vietnam Halts Gold Imports as Trade Gap grow. Deficits triple in first half of year. Record demand for gold as inflation surges.’

Vietnam doesn’t want its people to protect themselves by buying gold. Besides, if the price of gold were to surge, that would show the world that inflation was raging in Vietnam. So ban the protector, kill the messenger, forbid the importation of gold. A hint of things to come?"

Richard Russell

"Unemployment doles can have no other effect than the perpetuation of unemployment."

Ludwig von Mises

July 2, 2008

"Politicians are also almost entirely ruled by popular fashion."

Martin Hutchinson

"The hurricane that’s just starting to hit the economy will both trigger and worsen problems in other areas. Starting with politics, because nearly everyone today believes the ridiculous notion that the government should guide the economy."

Doug Casey

"It is the typical Democratic strategy to babble meaningless slogans, as if they have a plan. Their plan is: the permanent twilight of the human race."

Ann Coulter

"Let me get this straight. A potential president of a putatively free country scolds companies for ‘obscene profits,’ failure to invest in competing products, and therefore irresponsible citizenship. Why? Is McCain running for national economic commissar?"

John Stossel

"The result of the governments’ and the unions’ meddling with the height of wage rates cannot be anything else than an incessant increase in the number of unemployed."

Ludwig von Mises

July 1, 2008

"We’re in a nasty environment. There is an inflation shock underway. This is going to be very negative for financial assets. We are going into tortoise mood and are retreating into our shell. Investors will do well if they can preserve their wealth."

Tim Bond

"Seven dollar gasoline is the least of our problems. Senator Obama has suggested, according to Canada’s National Post yesterday, that he will veto use of oil from Canada’s Oil Sands. Canada exports about 1.2 million barrels of oil to the US each day and produces about the same amount in the Alberta oil sands…"

Michael Berry

"Democrats have worked hard to ensure that Americans pay as much for gas as Europeans do. After a quarter-century of gas tax hikes, a ban on drilling for oil and a complete destruction of the nuclear power industry in America, I guess liberals can declare: Mission accomplished!"

Ann Coulter

"There prevails on a free labor market a tendency toward full employment."

Ludwig von Mises

"The person you were twenty or thirty years ago no longer exists and the passing of that person was nothing to fear."

James Cook

June 30, 2008

"The Fed cannot continue issuing US treasuries in exchange for something worse than junk and becoming the last counter-party to the world. But they will. The Fed is headed to being counter-party to the entire mountain of OTC derivatives that are still being created daily by the many YOUNG HORSEMEN OF THE FINANCIAL APOCALYPSE."

Jim Sinclair

"Government intervention in the economy – through taxes, regulation and, most importantly, currency inflation – causes distortions and misallocations of capital that must eventually be unwound. The distortions degrade the general standard of living, and the economy goes into a recession (call that an incomplete cleansing). Or it goes into a depression – wherein the entire sickly structure comes unglued."

Doug Casey

"It is not from the benevolence of the butcher, the brewer or the baker that we expect our dinner, but from their regard to their own interest."

Adam Smith

"It is the business of people to house themselves. And if and as they do it for themselves, they have free private enterprise without knowing it. They had it for more than one hundred years without ever thinking to give it a name."

Garet Garrett

"Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other."

Ludwig von Mises

June 27, 2008

"Is there another way? Of course there is. There is a way based on simple moral principles: Everyone keeps his own money. Everyone decides what to do with his own money. No income tax. No IRS. No government grants or assistance to anyone. All charity is voluntary. It’s called freedom. It’s a peaceful, harmonious way of life, one that Americans once believed in."

Jacob G. Hornberger

"We can always learn particular things from other countries, whether in Europe, in Asia or elsewhere. But imitating Europeans when they are not doing as well as Americans makes no sense."

Thomas Sowell

"The main reason progress in Iraq is not receiving more attention is that the progress is considerable and the big media are not paying attention because they don't like the new storyline. They prefer 'America defeated,' not 'America victorious' because defeat increases the likelihood of a Democratic electoral blowout in the fall.""

Cal Thomas

"Nothing is more calculated to make a demagogue popular than a constantly reiterated demand for heavy taxes on the rich. Capital levies and high income taxes on the larger incomes are extraordinarily popular with the masses, who do not have to pay them."

Ludwig von Mises

"Our life span is to eternity what a molecule is to the universe."

James Cook

June 26, 2008

"It’s hard to find a domestic policy that can be proven to be as successful as the Bush tax cuts – even by presumably Democratic standards. It’s simply a matter of fact that these tax cuts shifted the tax burden substantially to higher income earners and took millions of lower income workers off the tax rolls altogether. The economy took off and ran for at least five years after implementation, and the federal deficit shrank dramatically after the tax cuts were enacted. Yet calls to reverse these tax cuts abound."

Patrick Toomey

"In 25 years on Wall Street, I have never seen things this bad. We’ve had some tough times: the 1987 stock-market crash, the collapse of the once-all-powerful Drexel Burnham Lambert, the immolation of long term capital, the post-9/11 calamity, and the dot-com implosion. Every one of these events rocked the Street, causing pay cuts and layoffs and creating a sense of doom. But this time is different; it’s doom itself."

Jim Cramer

"Central banks from Beijing to Bangkok are losing their bets that a global slowdown would temper price increases. While export demand from the U.S. and Europe may have eased, it has been replaced by rising domestic consumption that has helped push inflation rates in Asia as high as 26 percent."

Bloomberg

"Taxes are necessary. But the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs."

Ludwig von Mises

June 25, 2008

"The elderly are using the federal government to dip into the pocketbooks of the young and the productive."

Jacob G. Hornberger

"High food prices are a manifestation of current worldwide price inflation. World governments have been printing money at very high rates this decade. While the United States has been expending the money supply by ‘only’ about 10-15 percent per year, many countries have printed money at rates exceeding 50 percent per year. This money, which had been previously contained mostly in world stock markets, has now also spread to commodity markets, from which the prices of food are derived. Since money is now being created faster than goods are being created, prices are rising."

Kel Kelly

"It is unquestionable that Bush has made this country safe by keeping Islamic lunatics pinned down fighting our troops in Iraq. In the past few years, our brave troops have killed more than 20,000 al-Qaida and other Islamic militants in Iraq alone. That’s 20,000 terrorists who will never board a plane headed for JFK – or a landmark building, for that matter."

Ann Coulter

"For all the clucking over ExxonMobil’s $10.9 billion in profits last quarter, little attention was paid to its total tax bill in the same period: more than $29 billion. So who’s the real ‘profiteer’ – Big Oil or Big Brother? And who is likelier to keep energy abundant – the profit-seeking entrepreneurs who pull it from the ground, or the politicians who demonize them when they succeed?"

Jeff Jacoby

"Progressive taxation of income and profits means that precisely those parts of the income which people would have saved and invested are taxed away."

Ludwig von Mises

June 24, 2008

"I’ve repeated over a number of years a lesson learned repeatedly throughout history: Inflationism is a ‘Road to Ruin.’ This road has become all to visible."

Doug Noland

"The underlying cause of any shortage is the lack of a free market, since genuine shortages cannot appear in a free market. Instead, while prices of goods would likely rise at the onset of reduced supplies, the goods in question would always be available at some price – and the higher the price, the more the supply would increase to meet demand which would then of course reduce the price."

Kel Kelly

"The average American worker toils from January 1st to the end of April, and has no legal claim to the fruits of his labor for that period. Federal, state and local governments, through the tax code, take what he produces. A small portion of the fruits of his labor is used to provide for the constitutional functions of government. Most of what’s taken, up to two-thirds, is given to some other American in the forms of farm and business subsidies, Social Security, Medicare, welfare and hundreds of other government handout programs. As in slavery, one person is being forcibly used to serve the purposes of another person."

Walter Williams

"Taxing profits is tantamount to taxing success."

Ludwig von Mises

"Human beings progress from lower to higher by way of error."

James Cook

June 23, 2008

"Legislatively enacted environmental barriers have actually resulted in a 25 percent decline in domestic production."

Noel Sheppard

"Entrepreneurial ability and energy are present almost everywhere. But in those countries that still languish in backwardness, the labyrinth intervention of the state and the absence of adequate institutions have kept that ability and energy from translating into full development."

Alvaro Vargas Llosa

"Liberals have only blind hatred for Bush – and for those brute American interrogators who do not supply extra helpings of bearnaise sauce to the little darlings at Guantanamo with sufficient alacrity."

Ann Coulter

"To finance ‘entitlement’ programs, the government threatens force against the taxpayers who provide the money. Why are people who favor compulsion called humanitarians, while those who favor freedom are stigmatized as greedy?"

John Stossel

"Whoever wishes peace among peoples must fight statism."

Ludwig von Mises

June 20, 2008

"All alike [government] are resolved to control the people’s way of living according to a plan, and all alike creating a dependent society."

Garet Garrett

"We’re paying roughly twice as much as we ought to for gasoline, thanks to the restrictions imposed by politicians. Unsatisfied with driving up oil prices, they’ve driven up food prices, too, by heavily subsidizing and mandating the use of corn-based ethanol."

Jack Kelly

"George Washington might have become our king, but chose not to. His governing idea was that government is our servant because we are inherently free. It is an idea too many in government today forget."

Dick Armey

"It is characteristic of current political thinking to welcome every suggestion which aims at enlarging the influence of government."

Ludwig von Mises

"From an economic standpoint, liberalism is a greater threat to America than communism ever was."

James Cook

June 19, 2008

"When I was a boy, the purpose of American history textbooks was to teach American history. Today, the purpose of most American history texts is to make minorities and females feel good about themselves. As a result, American kids today are deprived of the opportunity to feel good about being American (not to mention deprived of historical truth). They are encouraged to feel pride about all identities – African-American, Hispanic, Asian, female, gay – other than American."

Dennis Prager

"Victimhood and a ‘can’t do’ spirit is what the Democratic Party has mostly been about since the Great Depression."

Cal Thomas

"It’s nothing new for advocates of socialism, isolationism, appeasement, multiculturalism, defeatism and American non-exceptionalism to flex their muscles and gain power for a time. But expecting to effect such far-reaching and potentially devastating changes to this nation in the name of unity is breathtakingly arrogant."

David Limbaugh

"What kind of government forces people to make gasoline out of food, artificially boosts the price of corn to $6 a bushel, guarantees that inflated price as the ‘base’ for higher federal subsidies to corn farmers in the future, and then tries to hide its own depredations by excluding high food prices from its measure of ‘core’ inflation?"

Ernest S. Christian and Gary A. Robbins

"The worship of the state is the worship of force. There is no more dangerous menace to civilization than a government of incompetent, corrupt, or vile men. The worst evils which mankind ever had to endure were inflicted by bad governments. The state can be and has often been in the course of history the main source of mischief and disaster."

Ludwig von Mises

June 18, 2008

"At a time when formerly communist countries in central and eastern Europe have adopted flat-rate personal income taxes less than 20 percent, and are booming as a result, the United States clings to an outdated Marxian, growth-retarding, class-warfare, graduated income tax, and at least one presidential candidate wants to raise those rates even more."

Mark W. Hendrickson

"This man who is now supposedly going to ‘unite’ us has for years worked hand in glove, and contributed both his own money and the taxpayers’ money, to people who have sought to divide us in the most crude demagogic ways."

Thomas Sowell

"Entitlement? How can you be entitled to someone else’s money?

John Stossel

"When I was a boy, America was a freer society than it is today. If Americans had been told the extent and number of laws that would govern their speech and behavior within one generation, they would have been certain that they were being told about some dictatorship, not the Land of the Free. Today, people at work, to cite but one example, are far less free to speak naturally. Every word, gesture and look, even one’s illustrated calendar, is now monitored lest a fellow employee feel offended and bring charges of sexual harassment or creating a ‘hostile work environment’ or being racially, religiously or ethnically insensitive, or insensitive to another’s sexual orientation."

Dennis Prager

"The whole of mankind’s progress has had to be achieved against the resistance and opposition of the state and its power of coercion."

Ludwig von Mises

June 17, 2008

"With Iraqi deaths at an all-time low, Iraq is safer than Detroit – although the Middle Eastern food is still better in Detroit."

Ann Coulter

"When in England at a fairly large conference, Colin Powell was asked by the Archbishop of Canterbury if our plans for Iraq were just an example of empire building by George Bush. He answered by saving, ‘Over the years, the United States has sent many of its fine young men and women into great peril to fight for freedom beyond our borders. The only amount of land we have ever asked for in return is enough to bury those that did not return.’ You could have heard a pin drop."

"For most of the last 40 years, New York’s state-run betting parlors have actually lost money. Apparently, the house always wins – except when Uncle Sam is the bookie."

Jonah Goldberg

"The standard of living of the common man is highest in those countries which have the greatest number of wealthy entrepreneurs."

Ludwig von Mises

"The acid test of intelligence is whether the things you believe in turn out to be true."

James Cook

June 16, 2008

"How does Mr. Obama expect America to compete with China and India when we abandon the principle of individual merit and elevate skin color and sex above performance?"

Ward Connerly

"Guess what Bill Clinton’s campaign theme was in 1992? You are wrong if you guessed: ‘bringing dignity back to the White House.’ It was ‘change.’ In January 1992, James Carville told Steve Daley of The Chicago Tribune that it had gotten to the point that the press was complaining about Clinton’s ‘constant talk of change.’"

Ann Coulter

"Allow me to summarize the rules: We should vote for candidates irrespective of their race and/or gender. However, if the candidate is black and liberal, a vote against him or her is racist. If the candidate is female and liberal, a vote against her is sexist. If the candidate is conservative, regardless of race and/or gender, a vote against him or her is a matter of principle."

Pat Sajak

"The media have been crucial to Barack Obama’s whole candidacy. His only achievements of national significance in his entire career have been media achievements and rhetorical achievements."

Thomas Sowell

"Under capitalism the common man enjoys amenities which in ages gone by were unknown and therefore inaccessible even to the richest people."

Ludwig von Mises

June 13, 2008

"Judicial evidence is an archaic bourgeois detail. We execute [kill people] from revolutionary conviction."

Che Guevara

"The Iraqis have a democracy – a miracle on the order of flush toilets in that godforsaken region of the world. Despite its newness, Iraq’s democracy appears to be no more dysfunctional than one that would condemn a man who has kept the nation safe for seven years while deifying a man who has accomplished absolutely nothing in his entire life except to give speeches about ‘change.’"

Ann Coulter

"Half the American people do not vote, and after this marathon campaign, that number might well increase, owing to one of history’s rarely noted undercurrents: sheer boredom."

Bob Tyrrell

"The characteristic feature of modern capitalism is mass production of goods destined for consumption by the masses. The result is a tendency towards a continuous improvement in the average standard of living, a progressing enrichment of the many."

Ludwig von Mises

"The higher the wages the fewer the jobs; the lower the wages the more the jobs."

James Cook

June 12, 2008

"In aggregate, the map of the territory Republican won was mostly the land owned by the taxpaying citizens of this great country. Democrat territory mostly encompassed those citizens living on government-owned tenements and living off various forms of government welfare…"

Joseph Olson

"Government aid impedes success and creates dependence, while entrepreneurs create success and independence."

Cal Thomas

"Do the media even care whether Senator Obama knows what he is talking about? Or is the symbolism of ‘the first black President’ paramount, even if that means a President with cocky ignorance at a time of national danger?"

Thomas Sowell

"At 35 percent, the United States now has the second-highest corporate profits tax in the world – absolute insanity in a time of intense global competition when Congress should be doing everything in its power to help domestic employers compete against foreign companies."

Dr. Mark W. Hendrickson

"Reason and ideas determine the course of human affairs. What is needed to stop the trend toward socialism and despotism is common-sense and moral courage."

Ludwig von Mises

June 11, 2008

"Once a person becomes a government dependent, his moral standing to resist the expansion of government power is fatally compromised."

James Bovard

"Diplomacy without force is like music without instruments."

Frederick the Great

"There is something seriously wrong [with] the economic shallowness of politicians who believe that when oil companies prosper they should be penalized. Or who imagine that the way to bring gasoline prices down is to jack the oil industry’s taxes up. Or who actually think that earnings of 8.1 cents per dollar of sales – Big Oil’s profits over the past five years, exactly equivalent to the overall U.S. manufacturing average (excluding autos) – constitute a ‘windfall.’"

Jeff Jacoby

"Socialism [modern liberalism] is not in the least what it pretends to be. It is not the pioneer of a better and finer world, but the spoiler of what thousands of years of civilization have created. It does not build; it destroys. For destruction is the essence of it. It produces nothing, it only consumes what the social order based on private ownership in the means of production has created."

Ludwig von Mises

June 10, 2008

"What we want is a government so small that it doesn’t matter where it is, what it does, who’s in it, or how it got there."

Libertarian Alliance

"The most self-serving and deceptive of the lies told by the Democratic leadership is this: you can support the troops and not support the war. No you can’t. You can’t tell a 19-year old, who is risking his young life in Fallujah and who is surrounded by terrorists who want to kill him, that he shouldn’t be there in the first place; that he’s with the ‘bad guys’ – the aggressors, the occupiers, who have no moral right to be in Iraq. You can’t do that and not undermine his morale, encourage his enemies, deprive him of allies and put him in danger. And that is exactly what the Democrats have done – and all the Democrats have done – in five years of America’s war to deny the terrorists victory in Iraq. Such a party is unfit to lead this nation in war. To place it in a position to do so would be to invite a tragedy of epic proportions."

David Horowitz

"The true villain in our having to cough up $60, $70 or $80 to fill our gas tanks is the U.S. Congress caught in the grip of environmental extremists. But if reality is too difficult to swallow, we can continue to blame and support the congressional attack on oil executives, turn food into oil and think of other crackpot ‘solutions.’"

Walter Williams

"Socialist society is a society of officials."

Ludwig von Mises

"What auctions for a record price today will bring a record price tomorrow."

James Cook

June 9, 2008

"Criticism of government policy is essential to a democracy. But in the last five years the Democratic Party has crossed the line from criticism of war policy to fundamental sabotage of the war itself, a position no American party has taken until now."

David Horowitz

"Ironically, China, in conjunction with Cuba, is drilling for oil nearer to our coastline than U.S. oil companies are permitted."

Walter Williams

"Free markets are economically optimal, but partially free markets, with endless creation of fiat money and implicit government guarantees of the big boys, can produce perverse and dangerous results."

Martin Hutchinson

"Everything brought forward in favor of Socialism during the last hundred years, in thousands of writings and speeches, all the blood which has been spilt by the supporters of Socialism, cannot make socialism workable."

Ludwig von Mises

June 6, 2008

"The sheer number of government employees and welfare recipients effectively transforms the purpose of government from maintaining order to confiscating as much as possible from vulnerable taxpayers."

James Bovard

"Socialism is the renunciation of rational economy."

Ludwig von Mises

"Dishonesty expands in a crisis."

James Cook

June 5, 2008

The more government dependents, the more likely that democracy will become a conspiracy against self-reliance."

James Bovard

"If you own gold and silver, fear not. The Fed is years away from ever admitting a mistake, like printing too much money. Moreover, this is America. Congress will never call out for tight money. As long as the Chairman of the Fed still believes in the economic tooth fairy, rising inflation is guaranteed."

Richard Benson

"People frequently call socialism a religion. It is indeed the religion of self-deification."

Ludwig von Mises

June 4, 2008

"Not only has the number of government employees multiplied in recent decades, but the rise of government unions further stacks the political odds against private citizens."

James Bovard

"Lately terrorism’s television fans have had their own version of a writers strike. When there is no bad news to report, there are no reports, period. Even the Democrat presidential candidates mention Iraq as little possible, except perhaps to move the goalposts and falsely contend there is no political progress there."

David Forsmark

"Every socialist is a disguised dictator."

Ludwig von Mises

June 3, 2008

"A man who chooses between drinking a glass of milk and a glass of a solution of potassium cyanide does not choose between two beverages; he chooses between life and death. A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings."

Ludwig von Mises

""Not only has the number of government employees multiplied in recent decades, but the rise of government unions further stacks the political odds against private citizens."

James Bovard

"No one believes in miracle cures like those who make money selling them."

James Cook

June 2, 2008

"If we ever forget that we’re one nation under God, then we will be a nation gone under."

Ronald Reagan

"Neither economics nor property rights are too ‘complex’ to understand. But both get in the way of willful people who seek to deny other people the right to make their own decisions."

Thomas Sowell

"There are more than 20 million government employees in the United States – more than the total number of Americans employed in manufacturing."

James Bovard

"Socialism and democracy are irreconcilable."

Ludwig von Mises

May 30, 2008

"The Constitution tried to erect barriers to government power, of which property rights were one. But, once judges started saying that ‘the public interest’ over-rides property rights, that left politicians free to call whatever they wanted to do ‘the public interest.’"

Thomas Sowell

"If there is one clear basic function of government, it’s to protect citizens from criminals. When government failure becomes so apparent, as it is in the murder of a police officer, officials seek scapegoats and very often it’s the National Rifle Association and others who seek to protect our Second Amendment right to keep and bear arms. We hear calls for stricter gun control laws when what is really needed is more control over criminals."

Walter Williams

"The planner is a potential dictator who wants to deprive all other people of the power to plan and act according to their own plans. He aims at one thing only: the exclusive absolute preeminence of his own plan."

Ludwig von Mises

"If God conclusively proved himself to all of us, our behavior would worsen."

James Cook

May 29, 2008

"The key question for many voters is: How much is the candidate offering for my vote?"

James Bovard

"Government intervention into nearly every aspect of our lives is so common that people often lose sight of how things would operate absent the intervention."

William L. Anderson

"The modern theory of perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating."

Thomas Jefferson

"No arsenal, or no weapon in the arsenals of the world, is as formidable as the will and moral courage of free men and women."

Ronald Reagan

"To assign to everybody his proper place in society is the task of the consumers. Their buying and abstention from buying is instrumental in determining each individual’s social position."

Ludwig von Mises

May 28, 2008

"In his stubborn refusal to admit things have changed in Iraq, Obama is looking more and more like a throwback to the Vietnam protestors who actively promoted America’s defeat in order to prove they were right in their opposition to the Vietnam War. He may not be old enough to remember firsthand the shouts of ‘Ho, Ho, Ho Chi Minh,’ or the Viet Cong flags hoisted at anti-war rallies of that era. But the sentiment that the enemy must win in order for American policy to be thoroughly repudiated seems to hover just beneath the surface of his gloomy assessment of Iraq. Obama’s pessimism is simply old school anti-Americanism dressed up in patriotic rhetoric."

Linda Chavez

"Democrats keep producing candidates that look like they’re out of a Norman Rockwell painting but vote like Karl Marx – which is to say, they vote like the typical member of the Democratic Party."

Ann Coulter

"People have every right to indulge their emotions at their own expense. Unfortunately, through politics, those emotions arae expressed in laws and administrative decisions by people who pay no price at all for indulging either their own emotions or the emotions of the people who vote for them."

Thomas Sowell

"Under a socialist mode of production all personal incentives which selfishness provides under capitalism are removed, and a premium is put upon laziness and negligence. Whereas in a capitalist society selfishness incites everyone to the utmost diligence, in a socialist society it makes for inertia and laxity."

Ludwig von Mises

May 27, 2008

"The green left preaches pessimism: Ineluctable scarcities (of energy, food, animal habitat, humans’ living space) will require a perpetual regime of comprehensive rationing. The green left understands that the direct route to government control of almost everything is to stigmatize, as a planetary menace, something involved in almost everything – carbon."

George Will

"Most voters no longer seem concerned about leashing government. Instead, many if not most are primarily concerned with directing the sludge of government benefits in their direction."

James Bovard

"We cannot restore traditional American freedom unless we limit the government’s power to tax."

Frank Chodorov

"Capital is not a free gift of God or of nature. It is the outcome of a provident restriction of consumption on the part of man. It is created and increased by saving and maintained by the abstention from dissaving."

Ludwig von Mises

"The true test of honesty is to be able to differentiate between right and wrong when your self interest is at stake."

James Cook

May 23, 2008

"What Friedrich Hayek called the ‘fatal conceit’ – the idea that government can know the future’s possibilities and can and should control the future’s unfolding – is the left’s agenda. The left exists to enlarge the state’s supervision of life, narrowing individual choices in the name of collective goods. Hence the left’s hostility to markets. And to automobiles - people going wherever they want whenever they want."

George Will

"The more people expect from government, the more biased they become against limiting government power."

James Bovard

"A few days after the murder of [Police Sgt.] Liczbinski, Governor Rendell [Pennsylvania] told a news conference, attended by state elected officials and top law enforcement officials, ‘The time has come for politicians to decide. You have to decide whether you’re on their side – the men and women who wear blue – or whether you’re on the side of the gun lobby.’ Instead of saying ‘whether you’re on the side of the gun lobby,’ Rendell should have said ‘whether you’re on the side of the criminal and the courts, prosecutors, prisons and parole boards that cut soft deals with criminals and release them to prey upon police officers and law-abiding citizens.’"

Walt Williams

"The only source of the generation of additional capital goods is saving. If all the goods produced are consumed, no new capital comes into being."

Ludwig von Mises

"Big government means national suicide."

James Cook

May 22, 2008

"Anyone, no matter how good his record of paying taxes, can be snared by the power of the taxing authorities."

Gregory Bresiger

""Despite the political myth that government is protecting us from big businesses charging monopoly prices, the cold fact is that far more government actions have been taken against businesses that charge low prices than against businesses that charge high prices."

Thomas Sowell

"One of the Democrats’ paragons of regular guy-ness that year [2006] was Jon Tester of Montana, who wore cowboy boots and had a buzz cut. The crew cut absolutely transfixed liberals in places like Manhattan. Search ‘Jon Tester and crew cut’ on Google, and you’ll get more than 200,000 hits. Even this tonsorial affectation was a liberal fake-out, inasmuch as Tester has no military service. After campaigning throughout Montana in a pickup truck, Tester got to Washington and compiled a voting record more liberal than Chuck Schumer’s, according to the liberal Americans for Democratic Action (Tester: 95 percent; Schumer: 90 percent). Tester also has a 100 percent rating from the pro-abortion group NARAL. There’s your truck driving, gun-totin’ Democrat."

Ann Coulter

"The key ingredient of politics is the idea that all of society’s ills can be cured politically. It’s like a cookbook where the recipe for everything is to fry it. The fruit cocktail is fried."

P. J. O’Rourke

"According to government estimates, there is enough oil in areas accessible to America – 112 billion barrels – to power more than 60 million cars for 60 years. The Outer Continental Shelf alone contains an estimated 86 billion barrels of oil and 420 trillion cubic feet of natural gas. Had President Clinton not vetoed exploration in the Arctic National Wildlife Refuge (ANWR) in 1995, when oil was $19 a barrel, America would currently be receiving more than 1 million barrels a day domestically, all of it taken by better technology than existed more than 30 years ago."

Cal Thomas

"The state is the only institution entitled to apply coercion and compulsion and to inflict harm upon individuals. This tremendous power cannot be abandoned to the discretion of some men, however competent and clever they may deem themselves. It is necessary to restrict its application. This is the task of the laws."

Ludwig von Mises

May 21, 2008

"Americans are rightfully angry about higher energy and food prices but their anger should be directed toward the true villains – the Congress and the White House."

Walter Williams

"Once the notion of ‘a living Constitution’ became fashionable, the Constitution’s protection of property rights has been ‘interpreted’ virtually out of existence of judges."

Thomas Sowell

"Politics is not a bad profession. If you succeed, there are many rewards; if you disgrace yourself, you can always write a book."

Ronald Reagan

"It is untrue that some are poor because others are rich. If an order of society in which incomes were equal replaced the capitalist order, everyone would become poorer."

Ludwig von Mises

"Government aid programs have been endlessly expanded, and the government has sought to maximize the number of people willing to accept handouts….. Roughly half of all Americans are dependent on the government, either for handouts, pensions, or paychecks."

James Bovard

May 20, 2008

"Most of the great problems we face are caused by politicians creating solutions to problems they created in the first place."

Walter Williams

"It is beyond outrageous for liberals to complain about the practice of linking Democrats to the national party when their calculated strategy in race after race in the red states has been to run Democratic candidates who appear to be Americans. They’re not Americans. They’re liberals! I don’t care how much hay is sticking out of their straw hats."

Ann Coulter

"Well, I wish I had better news for you, but the barbarians are at the gates. We are besieged by pagans – savage, brutish worshippers of big government. Theirs is not even a golden calf. They’ve abandoned the Gold Standard. They worship the taxing and spending of a fiat god, all the more dangerous for being both false and imaginary."

P.J. O’Rourke

"The masses favor socialism because they trust the socialist propaganda of the intellectuals. The intellectuals, not the populace, are molding public opinion."

Ludwig von Mises

"It’s distressing to make a choice between two good people."

James Cook

May 19, 2008

"Dependency is the highest political good – at least for politicians. Since the 1930s, politicians have striven to leave no vote unbought."

James Bovard

"I believe that banking institutions are more dangerous to our liberties than standing armies. (Already they have raised up a monied aristocracy that has set the Government in defiance.) The issuing power should be taken from the banks restored to the people to whom it properly belongs."

Thomas Jefferson

"Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."

Ronald Reagan

"The financial history of the last century shows a steady increase in the amount of public indebtedness. Nobody believes that the states will eternally drag the burden of these interest payments. It is obvious that sooner or later all these debts will be liquidated in some way or other, but certainly not by payment of interest and principal according to the terms of the contract."

Ludwig von Mises

May 16, 2008

"It has been said that politics is the second oldest profession. I have learned that it bears a striking resemblance to the first."

Ronald Reagan

"Every restriction of trade creates vested interests that are from then on opposed to its removal."

Ludwig von Mises

"Do just once what others say you can’t do, and you will never pay attention to these limitations again."

James Cook

May 15, 2008

"All the perplexities, confusion, and distress in America arise, not from defects in the Constitution or confederation, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation."

John Adams

"If the people in this country knew how money works, they would be in the streets in revolution."

Henry Ford, Sr.

"Government cannot make man richer, but it can make him poorer."

Ludwig von Mises

May 14, 2008

"The nearest thing to eternal life we will ever see on this earth is a government program."

Ronald Reagan

"Whoever controls the volume of money in any country, is absolute master of all industry and commerce.

James A. Garfield

"A higher standard of living also brings about a higher standard of culture and civilization."

Ludwig von Mises

May 13, 2008

"Permit me to issue and control the money of a nation, and I care not who makes the laws."

Mayer Anselm Rothschild

"He who serves the public best, makes the highest profits."

Ludwig von Mises

"The favorite subject of mankind is the shortcomings of others."

James Cook

May 12, 2008

"Government is like a baby: An alimentary canal with a big appetite at one end and no sense of responsibility at the other."

Ronald Reagan

"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance."

James Madison

"Profits are the driving force of the market economy. The greater the profits, the better the needs of the consumers are supplied."

Ludwig von Mises

"American democracy is capsizing as a result of the vast increase in the number of government dependents and government employees."

James Bovard

May 9,2008

"The taxpayer: That’s someone who works for the federal government but doesn’t have to take the civil service examination."

Ronald Reagan

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks… will deprive the people of all property until their children wake up homeless on the continent their fathers conquered… "I sincerely, believe that banking institutions are more dangerous to our liberties than standing armies. The issuing power should be taken from the banks and restored to the people to whom it properly belongs."

Thomas Jefferson

"The elimination of profit, whatever methods may be resorted to for its execution, must transform society into a senseless jumble. It would create poverty for all."

Ludwig von Mises

"To write about business one should be in business, just as in writing about Tasmania one should visit Tasmania."

James Cook

May 8, 2008

"Big government accomplished at a stroke what the free market could never have done: They turned the food supply into a subsidiary of the energy industry. When you divert 28 percent of U.S. grain into fuel production, and when you artificially make its value as fuel higher than its value as food, why be surprised that you’ve suddenly got less to eat? Or, to be more precise, it’s not ‘you’ who’s got less to eat but those starving peasants in distant lands you claim to care so much about."

Mark Steyn

"The Federal Reserve Banking is nothing but a banking fraud and an unlawful crime against Civilization. Why? Because they ‘create’ the money made ‘out of nothing’, and our Uncle Sap Government issues their ‘Federal Reserve Notes’ and stamps our Government approval with NO obligation whatever from these Federal Reserve Banks or National Banks. Etc.

H. L. Birum, Sr.

"I had never thought the Federal Bank System would prove such a failure. The country is in a state of irretrievable bankruptcy."

Senator Carter Glass

"There is no reason why capitalists and entrepreneurs should be ashamed of earning profits."

Ludwig von Mises

May 7, 2008

"You cannot strengthen the weak by weakening the strong. You cannot help small men be tearing down big men. You cannot help the poor by destroying the rich. You cannot lift the wage earner by pulling down the wage payer. You cannot keep out of trouble by spending more than your income. You cannot further the brotherhood of man by inciting class hatreds. You cannot establish security on borrowed money. You cannot build character and courage by taking away a man’s initiative and independence. You cannot help men permanently by doing for them what they could and should do themselves."

Abraham Lincoln

"When millions of people are going hungry, it’s a crime against humanity that food should be diverted to biofuels."

Palaniappan Chidambaram

"I have wondered at times about what the Ten Commandments would have looked like if Moses had run them through the U.S. Congress."

Ronald Reagan

"The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done."

Ludwig von Mises

May 6, 2008

"It is understandable that young people are so strongly attracted to Obama. Youth is another name for inexperience – and experience is what is most needed when dealing with skillful and charismatic demagogues."

Thomas Sowell

"We have stricken the (slave) shackles from four million human beings and brought all laborers to a common level, not so much by the elevation of former slaves as by practically reducing the whole working population, white and black, to a condition of serfdom. While boasting of our noble deeds, we are careful to conceal the ugly fact that by our iniquitous money system we have nationalized a system of oppression which though more refined, is no less cruel than the old system of chattel slavery."

Horace Greeley

"The epithet profiteer is the expression of an arbitrary judgment of value. There is no other standard available for the distinction between profiteering and earning fair profits than that provided by the censor’s personal envy and resentment."

Ludwig von Mises

"Repetition causes stress."

James Cook

May 5, 2008

"My agency in promoting the passage of the National Bank Act was the greatest financial mistake of my life. It has built up monopoly which affects every interest in the country. It should be repealed; but before that can be accomplished, the people will be arrayed on one side and the banks on the other, in a contest such as we have never seen before in this country."

Salmon P. Chase

"Of the four wars in my lifetime, none came about because the U.S. was too strong."

Ronald Reagan

"A fine is a tax for doing something wrong. A tax is a fine for doing something right."

Unknown

"Society is best served when the means of production are in the possession of those who know how to use them best."

Ludwig von Mises

May 2, 2008

"There is a long history of monetary experience. It tells us that government is at heart a counterfeiter and therefore cannot be trusted to control money, and that this is true of both autocratic and popular government."

Garet Garrett – 1948

"Obama’s pitch to fawning audiences is so hopelessly idealistic and his promises so painfully unrealistic that it’s amazing he’s taken as seriously as he it."

David Limbaugh

"The truth is that the characteristic feature of capitalism was and is mass production for the needs of the masses."

Ludwig von Mises

"In business a little paranoia is good."

James Cook

May 1, 2008

"What’s scarier than Obama’s far-fetched promises is that people – in droves – believe them."

David Limbaugh

"The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the Colonies their money, which created unemployment and dissatisfaction."

Benjamin Franklin

"Fabian socialist George Bernard Shaw included the working class among the ‘detestable’ people who ‘have no right to live.’ He added: ‘I should despair if I did not know that they will all die presently, and that there is no need on earth why they should be replaced by people like themselves."

Thomas Sowell

"Americans achieved a living standard that is the envy of the world. It is the direct result of the large degree of economic freedom we have enjoyed. Unleashing the lawyers to ‘protect’ us will kill many, many dreams."

John Stossel

"Neither the entrepreneurs nor the farmers nor the capitalists determine what has to be produced. The consumers do that."

Ludwig von Mises

April 30, 2008

"People try to live within their income so they can afford to pay taxes to a government that can’t live within its income."

Robert Half

"Yes, some Americans (2 percent of those who had mortgages) suffered foreclosures, and some jobs disappeared (80,000 last month). But the lawyer and other anti-business hysterics in politics and the media never acknowledge that corporate America built those homes in the first place. It was corporate America that made homeowners’ dreams possible by giving mortgages to the 98 percent of homeowners who haven’t defaulted. It was also corporate America that created 25 million jobs over the past 15 years."

John Stossel

"We live in a unique world of unregulated Credit. Excess has evolved to the point of being endemic to an apparatus that operates without any mechanism for adjustment or self-correction. There is, of course, no gold reserve system to restrain domestic monetary expansions."

Doug Noland

"If history could prove and teach us anything, it would be that private ownership of the means of production is a necessary requisite of civilization and material well-being…Only nations committed to the principle of private property have risen above penury and produced science, art and literature."

Ludwig von Mises

April 29, 2008

"If two parties, instead of being a bank and an individual, were an individual and an individual, they could not inflate the circulating medium by a loan transaction, for the simple reason that the lender could not lend what he didn’t have, as banks can do… Only commercial banks and trust companies can lend money which they manufacture by lending it."

Irving Fisher

"Karl Marx said, ‘The working class is revolutionary or it is nothing.’ In other words, they mattered only in so far as they were willing to carry out the Marxist agenda."

Thomas Sowell

"The trouble with our liberal friends is not that they’re ignorant; it’s just that they know so much that isn’t so."

Ronald Reagan

"Private property creates for the individual a sphere in which he is free of the state. It sets limits to the operation of the authoritarian will."

Ludwig von Mises

"People say preposterous things when explaining their motives."

James Cook

April 28, 2008

"A virtuous circle is turning into a potentially vicious one – not only must China, et al, balk at throwing good money after bad with their newly earned dollars, they must be sorely tempted to shift their Accumulated Reserves into hard assets that better retain their value."

Stuart Hill

"You don’t pay taxes. They take taxes."

Chris Rock

"Today, the liberal and Democratic world’s only concern with regard to Iraq, where America is engaged in the greatest current battle against organized evil, is how soon America can withdraw."

Dennis Prager

"The ultimate source of the determination of prices is the value judgments of the consumers."

Ludwig von Mises

April 25, 2008

"Nothing keeps a company honest and efficient like the threat of other companies coming along and taking its business away."

John Stossel

"We must care for each other more, and tax each other less."

Bill Archer

"I recall asking the late eminent liberal historian Arthur Schlesinger, in a public forum in Los Angeles in the late 1970s, if he would say that America was, all things considered, a better, i.e., more moral, society than Soviet society. He said he would not."

Dennis Prager

"Some think that they will exercise power for the general good, but that is what all those with power have believed. Power is evil in itself, regardless of who exercises it."

Ludwig von Mises

"Subsidies have changed the way the nation behaves."

James Cook

April 24, 2008

"The most terrifying words in the English language are: I’m from the government and I’m here to help."

Ronald Reagan

"The enemies who confront us are religious barbarians, armed with the technologies of modern warfare but guided by morals that are medieval and grotesque. Their stated goal is the obliteration of America and the conquest of the West."

David Horowitz and Ben Johnson

"Congress can raise taxes because it can persuade a sizable fraction of the populace that somebody else will pay."

Milton Friedman

"Market competition polices companies – and it does so far better than regulation and lawyers ever will. If GM offers shoddy or overpriced cars, competitors will clean GM’s clock."

John Stossel

"The riches of the rich are not the cause of the poverty of anybody; the process that makes some people rich is, on the contrary, the corollary of the process that improves many peoples’ want satisfaction. The entrepreneurs, the capitalists and the technologists prosper as far as they succeed in best supplying the consumers."

April 23, 2008

"Vietnam occurred and Democrats and liberals (in academia, labor and the media) abandoned that war and abandoned millions of Asians to totaliterianism and death, defamed America’s military, became anti-war instead of anti-evil, became anti-anti-Communist instead of anti-Communist, and embraced isolationism, a doctrine I and others previously had always associated with conservatives and the Republican Party. This change was perfectly exemplified in 1972, when the Democratic presidential nominee George McGovern ran on the platform ‘Come home, America.’ This in turn led to the liberal embrace of the immoral doctrine of moral equivalence. As I was taught at Columbia, where I studied international relations, America was equally responsible for the Cold War, and there was little moral difference between the U.S. and the U.S.S.R. They were essentially two superpowers, each looking out for its imperialist self-interest. I will never forget when the professor of my graduate seminar in advanced Communist Studies, Zbigniew Brzezinski, chided me for using the word ‘totalitarian’ to describe the Soviet Union."

Dennis Prager

"I’m against a system that doesn’t require a losing plaintiff to pay the winning defendant’s legal expenses – a system used by most of the world because it weeds out frivolous litigation."

John Stossel

"Obama is also part of a long tradition on the left of being for the working class in the abstract, or as people potentially useful for the purposes of the left, but having disdain or contempt for them as human beings."

Thomas Sowell

"The mixing of politics and business not only is detrimental to politics, as is frequently observed, but even much more so to business."

Ludwig von Mises

April 22, 2008

"Wal-Mart has become the whipping boy for political demagogues, unions and anti-traders. I suggest that they have the wrong target…. Wal-Mart exists and prospers because tens of millions of Americans find Wal-Mart to be a suitable source of goods and services. Clinton, Obama, unions and anti-traders should direct their outrage and condemnation at the tens of millions of Americans who shop at Wal-Mart and keep it in business."

Walt Williams

"I have no problem with lawyers representing people who are truly harmed by corporations. I’m against a system that can encourage lawyers to enrich themselves by manufacturing grievances and allows them to force even innocent companies to surrender big bucks in settlements because the cost of litigation is so great."

John Stossel

"I cannot lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents."

James Madison

"The characteristic mark of this age of dictators, wars and revolutions is its anticapitalistic bias. Most governments and political parties are eager to restrict the sphere of private initiative and free enterprise."

Ludwig von Mises

"People hate what they fear."

James Cook

April 21, 2008

"Here’s my strategy on the Cold War: We win, they lose."

Ronald Reagan

"The object of war is to break an enemy’s will and destroy his capacity to fight. Therefore, a nation divided in wartime is a nation that invites its own defeat. Yet that is precisely how Americans are facing the global war that radical Islamists have declared on them."

David Horowitz and Ben Johnson

"What at first was plunder assumed the softer name of revenue."

Thomas Paine

However inconsistent Obama’s words, his behavior has been remarkably consistent over the years. He has sought out and joined with the radical, anti-Western left, whether Jeremiah Wright, William Ayers of the terrorist Weatherman underground or pro-Palestinian and anti-Israeli Rashid Khalidi."

Thomas Sowell

"There is an inherent tendency in all governmental power to recognize no restraints on its operation and to extend the sphere of its dominion as much as possible."

April 18, 2008

"Democrats have an explanation for their defection from a war they originally supported: the president is to blame. But this is a claim that will not stand up to even the most cursory inspection. Between the invasion of Iraq in March 2003, which the Democrats supported, and their attacks on the legitimacy of the war, which began in June, three months later, no event transpired on the battlefield and no change took place in the administration’s war policy that would explain their defection. What changed was the internal politics of the Democratic Party, and this was a direct result of the antiwar campaign organized by the Left."

David Horowitz and Ben Johnson

"My conclusion is that silver is being increasingly viewed as a monetary metal."

Richard Russell

"Slate columnist Mickey Kaus has been waiting for Obama to ‘pivot’ to the center as Clinton did in 1992. But it may be that America’s most reliably liberal senator doesn’t think he has to. He isn’t a unifier. He’s a counter-revolutionary."

Jonah Goldberg

"The men who are to protect the community against violent aggression easily turn into the most dangerous aggressors. They transgress their mandate. They misuse their power for the oppression of those whom they were expected to defend against oppression. The main political problem is how to prevent the police power from becoming tyrannical. This is the meaning of all the struggles for liberty."

Ludwig von Mises

"The most productive people are the first to suffer from the erosion of freedom."

James Cook

April 17, 2008

"Then there’s Obama’s mysterious association with former Weather Underground terrorist William Ayers – whose group bombed the Capitol, the Pentagon and the State Department in the 1970s – which would have been enough to end any other presidential candidacy. So far, the mainstream media have shown no curiosity about the nature and extent of Obama’s relationship with Ayers, despite Ayers’ lack of repentance and defiant statements, ‘I don’t regret setting bombs’ and ‘I feel we didn’t do enough.’"

David Limbaugh

"Senator Obama is all talk – glib talk, exciting talk, confident talk, but still just talk."

Thomas Sowell

"The difference between death and taxes is death doesn’t get worse every time Congress meets."

Will Rogers

"The market performs miracles so routinely that we take it for granted. Supermarkets provide 30,000 choices at rock-bottom prices. We take it for granted that when we stick a piece of plastic in a wall, cash will come out; that when we give the same plastic to a stranger, he will rent us a car, and the next month, VISA will have the accounting correct to the penny. By contrast, ‘experts’ in government can’t even count the vote accurately."

John Stossel

"The planned economy is the most rigid system of enslavement history has ever known."

Ludwig von Mises

April 15, 2008

"Why is it so important to win an international popularity contest? If America is not popular in the world, what are the other nations going to do to us? Stop buying our products? Kick us out of the U.N.? Vote us off the island?

Mona Charen

"In all countries where inflation is been rapid, it has been observed that the decrease in the value of the money has occurred faster than the increase in its quantity."

Ludwig von Mises

"Be cautious with your bidding when the auctioneer is unknown to you."

James Cook

April 14, 2008

"It is indisputable that, given the state of things, bad economic times will be a forerunner to bad and worse economic policy."

Llewellyn Rockwell

"Regrettably, all the best efforts by the Federal Reserve and Washington politicians to sustain the U.S. Bubble Economy are doomed to failure."

Doug Noland

"No increase in the welfare of the members of a society can result from the availability of an additional quantity of money."

Ludwig von Mises

April 11, 2008

"All present-day governments are fanatically committed to an easy money policy."

Ludwig von Mises

"Relatives make the severest critics."

James Cook

April 10, 2008

"Democrats in general, I would submit, confuse change with improvement. They fail to weigh the costs and benefits of change, to consider its unintended consequences, or to worry about what we need to conserve and how we might go about doing that faithfully. They ask Americans to embrace change for its own sake, in the faith that history is governed by a law of progress, which guarantees that change is almost always an improvement."

Charles R. Kesler

"For members of the political class, the crucial question is always: how can we push out the frontier, how can we augment the government’s dominion and plunder, with net gain to ourselves, the exploiters who live not by honest production and voluntary exchange, but by fleecing those who do so?

Robert Higgs

"If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit."

Ludwig von Mises

April 9, 2008

"The state is the most destructive institution human beings have ever devised – a fire that, at best, can be controlled for only a short time before it o’erleaps its improvised confinements and spreads its flames far and wide."

Robert Higgs

"Depression is the aftermath of credit expansion."

Ludwig von Mises

April 8, 2008

"We heard that South Korea would no longer accept U.S. Treasury bonds because the yields were so low. My immediate thought was, ‘Good excuse, but the real reason was probably that South Korea no longer wanted U.S. paper.’"

Richard Russell

"Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive."

C. S. Lewis

"If it were really possible to substitute credit expansion (cheap money) for the accumulation of capital goods by saving, there would not be any poverty in the world."

Ludwig von Mises

"Stupidity is failing to learn from experience."

James Cook

April 4, 2008

"Politicians in general – black, white, and brown – have avoided talking about illegitimacy, even though it now threatens not just the black community but increasingly Hispanics and poor whites as well. Nearly half of Hispanic babies are being born to single mothers today – a big increase in just the last few years – and one in four white babies are born out of wedlock."

Linda Chavez

"The top leader in the ethanol hoax is Archer Daniels Midland (ADM), the country’s largest producer of ethanol. Ethanol producers and the farm lobby have pressured farm state congressmen into believing that it would be political suicide if they didn’t support subsidized ethanol production. That’s the stick. Campaign contributions play the role of the carrot."

Walter Williams

"The valuation of the monetary unit depends not upon the wealth of the country, but upon the ratio between the quantity of money and the demand for it, so that even the richest country may have a bad currency and the poorest country a good one."

Ludwig von Mises

"Friendships wax and wane with the degree of mutual self interest."

James Cook

April 3, 2008

"It’s easy to understand how the public, looking for cheaper gasoline, can be taken in by the call for increased ethanol usage. But politicians, corn farmers and ethanol producers know they are running a cruel hoax on the American consumer. They are in it for the money."

Walter Williams

"Nearly seven in 10 black babies are born to single mothers today. These children will fail in school at higher rates than those born to two parents. They are more likely to become involved in criminal activity. Their poverty rates will be higher. And they are far more likely to repeat this pattern by giving birth to or fathering a child out of wedlock themselves."

Linda Chavez

"At least since the Supreme Court’s decision in University of California v. Bakke in 1978 – and obviously long before that, or there wouldn’t have been a case or controversy for the court to consider – it has been legal for the government to discriminate against whites on the basis of their race. Consequently, any white person 30 years old or younger has lived, since the day he was born, in an America where it is legal to discriminate against white people. In many cases it’s not just legal, but mandatory, for example, in education, in hiring and in Academy Award nominations."

Ann Coulter

"Where the free exchange of goods and services is unknown, money is not wanted."

Ludwig von Mises

April 2, 2008

"Obama avoided dealing in any meaningful way with the single most important issue facing the black community – the breakdown of the black family. And this issue, and the consequences, explains far more about the failure of blacks to thrive today than racism or lack of social spending."

Linda Chavez

"Conservative opposition to affirmative action and unbridled welfare is not based on greed, selfishness or racism but on a philosophical difference over how best to solve problems while preserving the dignity of all individual human beings."

David Limbaugh

"The governments alone are responsible for the spread of the superstitious awe with which the common man looks upon every bit of paper upon which the treasury or agencies which it controls have printed the magical words legal tender."

Ludwig von Mises

April 1, 2008

"People are being led to believe that things are under control, so instead of doing whatever is necessary to prepare for the worst, they are setting themselves up for an even bigger blindsiding than before."

Michael Panzer

"Government auditors spent the last five years examining all federal programs and found that 22 percent of them – costing taxpayers $123 billion per year – fail to show any positive impact on the populations they serve."

Cal Thomas

"Sincerity is everything. If you can fake that, you’ve got it made."

George Burns

"Fiat money is a money consisting of mere tokens which can neither be employed for any industrial purposes nor convey a claim against anybody."

Ludwig von Mises

"The longer things don’t change the more they change when they do."

James Cook

March 31, 2008

"The old baggage has been replaced with shinier suitcases, but the contents are the same as ever. Black America’s problems can be solved by spending more money on the same old Great Society programs. Any talk about black America’s problems that takes the eyes off that prize is a ‘distraction.’ And, yet again, white Americans can prove their commitment to racial justice by going along with more big government. My hope for something better proved too audacious in the end."

Jonah Goldberg

"Congress has enacted major ethanol subsidies, about $1.05 to $1.38 a gallon, which is no less than a tax on consumers. In fact, there’s a double tax – one in the form of ethanol subsidies and another in the form of handouts to corn farmers to the tune of $9.5 billion in 2005 alone."

Walt Williams

"The first woman on a presidential ticket got bounced from the Clinton campaign and denounced by MSNBC’s Keith Olbermann for her ‘insidious racism’ indistinguishable from ‘the vocabulary of David Duke.’ Oh, for cryin’ out loud. Enjoyable as it is to watch previously expert tossers of identity-politics hand grenades blow their own fingers off, if Geraldine Ferraro’s an ‘insidious racist’, who isn’t?"

Mark Steyn

"For two hundred years the governments have interfered with the market’s choice of the money medium. Even the most bigoted etatists do not venture to assert that this interference has proved beneficial."

Ludwig von Mises

March 28, 2008

"Ethanol is so costly that it wouldn’t make it in a free market."

Walter Williams

"There was the risk of a total meltdown at the beginning of last week. I don’t think most people have any idea how bad this chain could have been, and I am still not sure the Fed can maintain the solvency of the U.S. banking system."

James Melcher

"Only the naïve inflationists could believe that government could enrich mankind through fiat money."

Ludwig von Mises

"An optimist is wrong a lot more than a pessimist."

James Cook

March 27, 2008

"Because he was using his overbearing power against businesses, the anti-business left idolized him [Spitzer], just as they idolized Ralph Nader before him as some sort of secular saint because he attacked General Motors."

Thomas Sowell

"It is the real $US 9.2 trillion US economy which has to carry a debt load of $US 48.808 trillion. That debt load is 530 percent of the real non-credit US economy."

Bill Buckler

"Claude Castonguay, the father of the Quebec universal health-care system, later adopted by the whole of Canada. Castonguay recently pronounced his country’s system a failure, and now urges American-style competition and pushes for a greater role by the private sector."

Larry Elder

"The interests of the capitalists are scarcely ever represented in monetary policy."

Ludwig von Mises

March 26, 2008

"Ethanol is 20 to 30 percent less efficient than gasoline, making it more expensive per highway mile. It takes 450 pounds of corn to produce the ethanol to fill one SUV tank. That’s enough corn to feed one person for a year. Plus, it takes more than one gallon of fossil fuel – oil and natural gas – to produce one gallon of ethanol. After all, corn must be grown, fertilized, harvested and trucked to ethanol producers – all of which are fuel-using activities. And, it takes 1,700 gallons of water to produce one gallon of ethanol.:

Walter Williams

"Washington is a company town and a political machine that spends trillions of our tax dollars to mislead the public."

Richard Benson

"Many in the media refer to Eliot Spitzer as some moral hero who fell from grace. Spitzer was never a moral hero. He was an unscrupulous prosecutor who threw his power around to ruin people, even when he didn’t have any case with which to convict them of anything."

Thomas Sowell

"The present unraveling of the U.S. banking sector and the broader U.S. financial sectors is only beginning."

Bill Buckler

"A nation cannot prosper if its members are not fully aware of the fact that what alone can improve their conditions is more and better production. And this can only be brought about by increased saving and capital accumulation."

Ludwig von Mises

March 25, 2008

"Democratic partisans take at least some comfort in growing evidence of an impending recession. (What a cheerful party they are.) The hope is for a good deep recession that will drive the fearful American voters into the tender embrace of their presidential standard-bearer."

Tony Blankley

"The Fed is doing everything it can to stave off disaster, but frankly, it is not rich enough. With assets of about $800 billion, having instituted $400 billion of rescue programs in the last week plus unspecified intervention with Bear Stearns, it is pretty nearly tapped out. It does of course have available a further source of liquidity, the Federal printing press. With inflation already moving at a brisk trot, use of that source will replace an incipient recession with a deeper and highly inflationary recession."

Martin Hutchinson

"Ethanol contains water that distillation cannot remove. As such, it can cause major damage to automobile engines not specifically designed to burn ethanol. The water content of ethanol also risks pipeline corrosion and thus must be shipped by truck, rail car or barge. These shipping methods are far more expensive than pipelines."

Walter Williams

"The preservation and the further improvement of what is called ‘the American way of life’ and ‘an American standard of living’ depends on the maintenance and the further increase of the capital invested in American business."

Ludwig von Mises

"America is aggressively embracing socialistic schemes and ruining itself in the process."

James Cook

March 24, 2008

"It is our contention that the size of the politically motivated governmental spending, spending which has no ‘hard’ limiting factor or defined discipline, will continue apace and, in fact, significantly worsen due to compounding interest on government borrowing and the coming wave of irrevocable social commitments – on Social Security and Medicare. Against the backdrop of a global fiat monetary regime, the only limitation to government spending is that which the politicians believe will be politically unacceptable to a population. This is, generally speaking, no real limitation at all, given that the public is now apathetic about, and numb to, the real world implications of large numbers."

David Galland

"You can’t be with someone for 20 years, call him your mentor, and not know about his racist and anti-American views."

Thomas Sowell

"The U.S. has a shrinking manufacturing base and an expanding bureaucracy powered forward by a credit expansion which is drowning the U.S. under a mountain of unrepayable debts."

Bill Buckler

"Obama says that pretty much any inconvenient discussion of race is a distraction from what America really needs, a huge expansion of the welfare state."

Jonah Goldberg

"The average American worker enjoys amenities for which Croesus, Crassus, the Medici, and Louis XIV would have envied him."

Ludwig von Mises

March 21, 2008

"I believe in an evolving constitution…. A flexible constitution allows U.S. to consider not merely how the world was, but how it ought to be."

Elliot Spitzer

"So long as credit was expanding, market participants and central bankers could earnestly believe in any number of preposterous stories. Credit is in a vicious contraction and so is the biggest secular belief system in history."

Bob Hoye

"Within Marxism there is no place for free thought."

Ludwig von Mises

"With socialized medicine the trick is not to die while waiting for treatment."

James Cook

March 19, 2008

"In a real free market, a company succeeds only by making things consumers want to buy and keeping costs low enough that the market price yields a profit. Sadly, in our mixed economy, success can be achieved another way: by lobbying the government for advantages over one’s competitors."

John Stossel

"It is now highly likely that whosoever wins the presidency, we are facing eight more years of unsecured borders and the addition of many millions more illegal immigrants into our already unstable body politic. ‘Alea lacta est.’ (The die is cast.)

Tony Blankley

"Marx and Engels never tried to refute their opponents with argument. They insulted, ridiculed, derided, slandered, and traduced them, and in the use of these methods their followers are not less expert. Their polemic is directed never against the argument of the opponent, but always against his person."

Ludwig von Mises

March 18, 2008

"In addition to his own personal contributions to the intellectual diversity of American life, William F. Buckley’s pioneering opened the way for many others to add greatly to our intellectual diversity, the only kind of ‘diversity’ that liberals seem to dislike, especially on our college campuses."

Thomas Sowell

"There is no moral argument that justifies using the coercive powers of government to force one person to bear the expense of taking care of another."

Walter Williams

"The fundamental law of the market is: the customer is always right."

Ludwig von Mises

"Conspiracy implies secrecy which means that conspiracies can rarely exist."

James Cook

March 17, 2008

"What we are witnessing is essentially the breakdown of our modern-day banking system, a complex of leveraged lending so hard to understand that Federal Reserve Chairman Ben Bernanke required a face-to-face refresher course from hedge fund managers in mid-August."

Bill Gross

"In our view, however, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal."

Warren Buffett

"Within the market society each serves all his fellow citizens and each is served by them. It is a system of mutual exchange of services and commodities, a mutual giving, and receiving."

Ludwig von Mises

March 14, 2008

"All inflation is the result of increasing the quantity of money and credit; and the cure is simply to halt the increase."

Henry Hazlitt

"A great deal of what people in less capitalistic countries consider luxury is a common good in the more capitalistically developed countries."

Ludwig von Mises

"People aren’t dumb, they’re inexperienced."

James Cook

March 13, 2008

"All inflation is government made."

Henry Hazlitt

"Behind the wonderful-sounding political ‘solutions’ to our problems is the notion that businesses are just ripping us off with arbitrarily set prices, and that the government can make them stop. It makes a nice story and it can get votes for politicians who play the role of saviors. But it makes little economic sense. Why do so many businesses have losses, and even go bankrupt, if they can set their prices wherever they want to?"

Thomas Sowell

"Every innovation makes its appearance as a ‘luxury’ of the few well-to-do. After industry has become aware of it, the luxury then becomes a ‘necessity’ for all."

March 11, 2008

"The economy is far too complex for any president – no matter how smart – to manage. How can politicians and bureaucrats possibly know what hundreds of millions of individuals know, want and aspire to? How can government employees fathom what trade-offs to make in a world of scarce resources? They can’t. That’s why free people are more prosperous than unfree people. Presidential candidates should promise to keep their hands off the economy."

John Stossel

"Luxury is the roadmaker of progress."

Ludwig von Mises

"People love you less when you’re ill."

James Cook

March 7, 2008

"We will all have to pay a cost for political restrictions and political cleverness, since there is no free lunch. In fact, free lunches are a big part of the reason for once-prosperous regions declining into rust belts."

"When the radical chic composer Leonard Bernstein complained about the smearing of the word ‘liberal,’ Buckley replied: ‘Lenny does not realize that one of the reasons the ‘L’ word is discredited is that it was handled by such as Leonard Bernstein.’ The composer was so unnerved by this remark that, just to cheer himself up, he invited several extra Black Panthers to his next cocktail party."

Ann Coulter

"Liberty is always freedom from the government."

Ludwig von Mises

"Self interest feeds more people than self sacrifice."

James Cook

March 6, 2008

"While American auto makers are laying off workers by the thousands, Japanese auto makers like Toyota and Honda are hiring thousands of American workers. But they are not hiring them in the rust belts. They are avoiding the rust belts, just as domestic businesses are avoiding the high costs that have been piled on over the years by both unions and governments in the rust belt regions."

Thomas Sowell

"Capitalism is the most reliable source of modern progress precisely because when it functions at its best it combines the realism of acquisition (or greed) with the idealism of serving the public."

Paul Johnson

"Most of what Africa needs, the West cannot give: rule of law, private property rights, fewer economic restrictions, independent judiciary and limited government. The one important thing we can do to help is to lower our trade barriers."

Walter Williams

"All that Lenin learned about business from the tales of his comrades who occasionally sat in business offices was that it required a lot of scribbling, recording, and ciphering. Thus, he declares that ‘accounting and control’ are the chief things necessary for the organizing and correct functioning of society… Here we have the philosophy of the filing clerk in its full glory."

Ludwig von Mises

March 5, 2008

"When asked if he had ‘referred to Jesse Jackson as an ignoramus,’ Buckley said, ‘If I didn’t, I should have.’"

Ann Coulter

"It is better that a man should tyrannize over his bank balance than over his fellow-citizens."

John Maynard Keynes

"The danger is not that a particular class is unfit to govern. Every class is unfit to govern."

Lord Acton

"Nothing links men more closely together than a community of language, and nothing segregates them more effectively than a difference of language."

Ludwig von Mises

March 4, 2008

"The worst thing the West can do to Africa is to give more foreign aid. For the most part, foreign aid is government to government. As such, it provides the financial resources that enable Africa’s grossly corrupt and incompetent regimes to buy military equipment, pay off cronies and continue to oppress their people. It also provides resources for the leaders to live lavishly and set up ‘retirement’ accounts in foreign banks."

Walter Williams

"When politicians today say that they are going to ‘bring down the cost of medical care’ or make housing ‘affordable,’ what are they talking about other than price controls?"

Thomas Sowell

"What transformed the world of horse-drawn carriages, sailing ships, and windmills step by step into a world of airplanes and electronics was the laissez-faire principle."

Ludwig von Mises

"Never become angered at what someone reports to you until you have seen proof."

James Cook

March 3, 2008

"Americans are so enamored by equality they would rather be equal in slavery than unequal in freedom."

Alexis de Tocqueville

"Laissez faire, laissez passer does not mean: let the evils last. On the contrary, it means: do not interfere with the operation of the market because such interference must necessarily restrict output and make people poorer. It means furthermore: do not abolish or cripple the capitalist system which, in spite of all obstacles put in its way by governments and politicians, has raised the standard of living of the masses in an unprecedented way."

Ludwig von Mises

February 29, 2008

"Time magazine once called Che the ‘brain’ of the Cuban Revolution, and saluted his ‘icy calculation, vast competence, high intelligence, and … perceptive sense of humor.’ A better description comes from journalist Humberto Fontova, who observes in ‘Exposing The Real Che Guevara’ that Che was for Castro what Heinrich Himmler was for Hitler and Lavrenty Beria for Stalin – ‘the snarling enforcer.’ Fittingly, a massive drawing of Che adorns the headquarters of Cuba’s secret policy in Havana. That this sadistic thug’s face also adorns the office of a US presidential candidate’s supporters [Obama] is appalling and disgraceful. That the candidate couldn’t bring himself to say so is even worse."

Jeff Jacoby

"Laissez faire means: Let the common man choose and act; do not force him to yield to a dictator."

Ludwig von Mises

"What you think to be crucially important seldom turns out to be."

James Cook

February 28, 2008

"Imagine the transformative effects in the region, and indeed in the entire Muslim world, of achieving a secure and stable Iraq, friendly to the United States and victorious over al-Qaeda. Are the Democrats so intent on denying George Bush retroactive vindication for a war they insist is his that they would deny their own country a now-achievable victory?"

Charles Krauthammer

"The Fed is powerless to prevent the unwinding of the long credit cycle that has been building, with spurts and pauses, for 75 years. A classic debt deflation is upon us. There is no avoiding the consequences; economic activity will shrink, incomes and employment will fall, and asset values will deflate for the next several years. Recovery will begin only when asset prices, especially for houses, have been restores to an adequate degree of affordability."

Makund Sheorey

"Laissez faire does not mean: let soulless mechanical forces operate. It means: let individuals choose how they want to cooperate in the social division of labor and let them determine what the entrepreneurs should produce. Planning means: let the government alone choose and enforce its rulings by the apparatus of coercion and compulsion."

Ludwig von Mises

February 27, 2008

"Despite all the progress, military and political, the Democrats remain unwavering in their commitment to withdrawal on an artificial timetable that inherently jeopardizes our ‘very real chance that Iraq will emerge as a secure and stable state."

Charles Krauthammer

"Just because Obama is given to lofty oratory and inspires hope with platitudes doesn’t mean he’s an empty vessel. I’d fear an Obama presidency much less if he were just an empty vessel. We underestimate him at our peril. He is plenty smart and quite capable. And he does have an agenda that, sadly for us, is substance-rich. His generalities-laden, silver-tongued optimism conceals a hard-core leftist blueprint for this country that would make Dennis Kucinich look like Milton Friedman."

David Lumbaugh

"If one rejects laissez faire on account of man’s fallibility and moral weakness, one must for the same reason also reject every kind of government action."

Ludwig von Mises

February 26, 2008

"The fresh, young face of Obama represents change, yes. But he also represents something very familiar; liberalism. Government as a permanent, inefficient, out-of-control crutch."

Kathryn Lopez

"The essence of Keynesianism is its complete failure to conceive the role that saving and capital accumulation play in the improvement of economic conditions."

Ludwig von Mises

"No matter how bad it is, people will say it is worse."

James Cook

February 22, 2008

"The U.S. is the great enemy of mankind! Against those hyenas there is no option but extermination. We will bring the war to the imperialist enemies’ very home, to his places of work and recreation. The imperialist enemy must feel like a hunted animal wherever he moves. Thus we’ll destroy him! We must keep our hatred against them (the U.S.) alive and fan it to paroxysms!"

Ernesto "Che" Guevara

"Keynes did not teach us how to perform the ‘miracle… of turning a stone into bread,’ but the not at all miraculous procedure of eating the seed corn."

Ludwig von Mises

"Be much less reactive to what you are told than what you experience."

James Cook

                                               February 21, 2008

"America’s ‘friend’ in the War on Terror, Saudi Arabia, banned Valentine’s Day. The Commission on the Promotion of Virtue and the Prevention of Vice, otherwise known as the Religious Police, even banned the color red on February 14th because of its association with the holiday."

Deborah Weiss

"The Republican party established and will continue to uphold the gold standard and will oppose any measure which will undermine the government’s credit or impair the integrity of our national currency. Relief by currency inflation is unsound in principle and dishonest in results."

Republican National Platform, 1932 (quote courtesy of James Dines)

"The unprecedented success of Keynesianism is due to the fact that it provides an apparent justification for the ‘deficit spending’ policies of contemporary governments. It is the pseudo-philosophy of those who can think of nothing else than to dissipate the capital accumulated by previous generations."

Ludwig von Mises

February 20, 2008

"Money itself is not wealth. If money was actual wealth, then the government could just print up a million dollars for everyone and wipe poverty off the face of the earth. Money is just a substitute for wealth, a store of value for it. True wealth is the goods and services that we have produced. It can never be created with a printing press."

Nelson Hultberg

"It is the typical policy of apres nous le deluge. Lord Keynes, the champion of this policy, says: ‘In the long run we are all dead.’ But unfortunately nearly all of us outlive the short run. We are destined to spend decades paying for the easy money orgy of a few years."

Ludwig von Mises

February 19, 2008

"It’s looking like a grim pick of the daisy petals for conservatives: McCain. Clinton. Obama. He loves us not. She loves us not. He wants to waft us upward on a great uniting bipartisan marshmallow of ‘hope’ and ‘change’ so he can implement down-the-line by-the-book highly partisan hopeless unchanged liberal policies."

Mark Steyn

"Gold has been battling against the doubters and know-nothings for the last eight years. The great mass of Americans still prefer fiat paper currency to real money. But that will change somewhere ahead. When that changes, we’ll call it the third phase of one of the greatest bull markets in history. We’re not there yet, not by a long shot. Meanwhile, gold continues its silent war against ‘printed wealth.’"

Richard Russell

"A dictum of Lord Keynes: ‘In the long run we are all dead.’ I do not question the truth of this statement; I even consider it as the only correct declaration of the neo-British Cambridge school."

Ludwig von Mises

"Never be afraid to think the unthinkable, just in case."

James Cook

                                             February 18, 2008

"Gold is money and nothing else."

J.P. Morgan

"The combination of a sinking economy and crippling levels of debt ensure that the injection of truly excess liquidity lies ahead."

John Embry

"Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."

Ronald Reagan

"All judgments of value are personal and subjective. There are no judgments of value other than those asserting, I prefer, I like better, I wish."

Ludwig von Mises

February 15, 2008

"The wise and correct course to follow in taxation is not to destroy those who have already secured success but to create conditions under which every one will have a better chance to be more successful."

Calvin Coolidge

"If capitalism worked as the socialists think an economic system ought to work, and provided a constant equality of living conditions for all, regardless of whether a man was able or not, resourceful or not, diligent or not, thrifty or not, if capitalism put no premium on resourcefulness and effort and no penalty on idleness or vice, it would produce only an equality of destitution."

Henry Hazlitt

"It is indeed one of the principal drawbacks of every kind of interventionism that it is so difficult to reverse the process."

Ludwig von Mises

"Never accept what people claim to be their reasons: look further."

James Cook

February 14, 2008

"If either Hillary Clinton or Barack Obama becomes president, government will grow even larger and become more intrusive."

Cal Thomas

"Government exists to protect us from each other. Where government has gone beyond its limits is in deciding to protect us from ourselves."

Ronald Reagan

"State interference in economic life, which calls itself ‘economic policy,’ has done nothing but destroy economic life."

Ludwig von Mises

February 13, 2008

"The government has brought on the housing problem, partly by these very low interest rates, which encouraged many people to go way out on a limb. They’ve brought it on by highly restrictive building policies, which have caused housing prices to skyrocket artificially. And they’ve brought it on by the Community Reinvestment Act, which presumes that politicians are better able to tell investors where to put their money than the investors themselves are. When you put all that together, you get something like what you have."

Thomas Sowell

"This government never furthered any enterprise but by the alacrity with which it got out of the way."

Henry David Thoreau

"The increasing tendency under capitalism is that penalties are imposed roughly in proportion to error and neglect and rewards granted roughly in proportion to effort, ability, and foresight. It is precisely this system of graduated rewards and penalties, in which each tends to receive in proportion to the market value he helps to produce, that incites each of us constantly to put forth his greatest effort to maximize the value of his own production and thus (whether intentionally or not) help to maximize that of the whole community."

Henry Hazlitt

"Every step that leads away from private ownership of the means of production and the use of money is a step away from rational economic activity."

Ludwig von Mises

February 12, 2008

"Government does not solve problems; it subsidizes them."

Ronald Reagan

"Too many Republicans negotiate with Democrats over the size of new programs and budget increases, rather than reducing the cost and size of the nanny state."

Cal Thomas

"But for the inefficiency of the law-givers and the laxity, carelessness, and corruption of many of the functionaries, the last vestiges of the market economy would have long since disappeared."

Ludwig von Mises

"God doesn’t make exceptions."

James Cook

February 11, 2008

"One reason the socialistic mind-set resonates favorably with many is due to the shift in the last half-century from promoting hard work, self-sufficiency, marriage, personal responsibility and accountability and living within one’s means, to a mentality that I am entitled to the fruits of other people’s labor. That used to be called robbery before government started doing it more than a century ago through the income tax."

Cal Thomas

"The market will deliver the goods if government doesn’t impose crippling regulations and tax away everyone’s capital to fund its coercive utopian schemes."

John Stossel

"Institutions that are subject not to the disciplines of the market but to the imperfect controls of a large government bureaucracy become corrupt, and that corruption, which is proportionate to the resources controlled, represents pure loss of output to the economy as a whole."

Martin Hutchinson

"On the unhampered market there prevails an irresistible tendency to employ every factor of production for the best possible satisfaction of the most urgent needs of the consumers. If the government interfered with this process, it can only impair satisfaction; it can never improve it."

Ludwig von Mises

February 8, 2008

"Government always finds a need for whatever money it gets."

Ronald Reagan

"Capitalism will continue to eliminate mass poverty in more and more places and to an increasingly marked extent if it is merely permitted to do so."

Henry Hazlitt

"The middle-of-the-road policy is not an economic system that can last. It is a method for the realization of socialism by installments."

Ludwig von Mises

"Lenin lived an error."

James Cook

February 7, 2008

"Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States."

Ronald Reagan

"The State, by relieving idleness, improvidence, or misconduct from the punishment, and depriving abstinence and foresight of the reward, which have been provided for them by nature, may indeed destroy wealth, but most certainly will aggravate poverty."

Nassau Senior

"The capitalist system has lifted mankind out of mass poverty. It is this system that in the last century, in the last generation, even in the last decade, has acceleratively been changing the face of the world, and has provided the masses of mankind with amenities that even kings did not possess or imagine a few generations ago."

Henry Hazlitt

"Interventionism cannot be considered as an economic system destined to stay. It is a method for the transformation of capitalism into socialism by a series of successive steps."

Ludwig von Mises

February 6, 2008

"Government relief tends constantly to get out of hand. And even when it is kept within reasonable bounds it tends to reduce the incentives to work and to save both of those who receive it and of those who are forced to pay it. It may be said, in fact, that practically every measure that governments take with the ostensible object of '‘helping the poor’ has the long-run effect of doing the opposite."

Henry Hazlitt

"It requires a long train of reasoning to show that the capital on which the miracles of civilization depend is the slow and painful creation of the economy and enterprise of the few, and of the industry of the many, and is destroyed, or driven away, or prevented from arising, by any causes which diminish or render insecure the profits of the capitalist."

Nassau Senior

"Economic interventionism is a self-defeating policy. The individual measures that it applies do not achieve the results sought. They bring about a state of affairs, which – from the viewpoint of its advocates themselves – is much more undesirable than the previous state they intended to alter."

Ludwig von Mises

February 5, 2008

"In an interview with The New York Times, Sen. Clinton said as president she would inject government more into the economy and rely less on market forces. She specifically mentioned income inequality and economic excesses, such as executive-pay packages, which she termed ‘offensive’ and ‘wrong.’

Cal Thomas

"Socialism and interventionism. Both have in common the goal of subordinating the individual unconditionally to the state."

Ludwig von Mises

"Relief, or redistribution of income, voluntary or coerced, is never the true solution of poverty, but at best a makeshift, which may mask the disease and mitigate the pain, but provides no basic cure."

Henry Hazlitt

"Welfare corrupts the lower class much faster than the middle class."

James Cook

February 4, 2008

"I find it rather ironic that Wall Street is so fervidly lambasting the Fed. For twenty years now the Fed has basically done everything that Wall Street requested and more."

Doug Noland

"You are much surer that you are doing good when you pay money to those who work, as a recompense of their labor, than when you give money merely in charity."

Samuel Johnson

 

"No matter whether it is their intention or not, almost anything that the rich can legally do tends to help the poor. The spending of the rich gives employment to the poor. But the saving of the rich, and their investment of these savings in the means of production, gives just as much employment, and in addition makes that employment constantly more productive and more highly paid, while it also constantly increases and cheapens the production of necessities and amenities for the masses."

Henry Hazlitt

"If all interventionist laws were really to be observed they would soon lead to absurdity."

Ludwig von Mises

February 1, 2008

"What this economy needs is more freedom for the individual and less manipulation by over-taxing, over-spending and over-regulating government."

Cal Thomas

"The essence of the interventionist policy is to take from one group to give to another. It is confiscation and distribution."

Ludwig von Mises

"Both fact and logic seem to me to support the view that savings invested in privately owned economic tools of production amount to an act of charity. And further, I believe it to be – as a type – the greatest economic charity of all."

F. A. Harper

"Since humans are never perfect their political and economic systems will always be imperfect."

James Cook

January 31, 2008

"Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society, which he has in view. But the study of his own advantage naturally, or rather necessarily leads him to prefer that employment which is most advantageous to the society."

Adam Smith

"In the market society the proprietors of capital and land can enjoy their property only by employing it for the satisfaction of other people’s wants. They must serve the consumers in order to have any advantage from what is their own. The very fact that they own means of production forces them to submit to the wishes of the public. Ownership is an asset only for those who know how to employ it in the best possible way for the benefit of the consumers. It is a social function."

Ludwig von Mises

"Contrary to age-old prejudices, the wealth of the rich is not the cause of the poverty of the poor, but helps to alleviate that poverty."

Henry Hazlitt

January 30, 2008

"The fuel of economic growth is the creation of new wealth, not the redistribution of existing wealth. Rebating some of last year’s taxes or expanding welfare-like benefits won’t encourage anyone to be more productive. Permanently lowering tax rates – letting Americans keep more of the money they earn, this year and every year – will."

Jeff Jacoby

"The U.S. political debate is moving in a negative direction as ‘fairness’ and income redistribution replace growth as the policy lodestar and proposals for tax increases proliferate."

Paul Gigot

"The sad truth is that one of the reasons people have to go on relief in the first place is that they have been as incompetent or heedless in spending money as in earning it. The worst thing one can give a spendthrift, a drunkard, a drug addict, or a compulsive gambler is cash."

Henry Hazlitt

"What governments call international monetary cooperation is concerted action for the sake of credit expansion."

Ludwig von Mises

January 29, 2008

"Even when the left and the right aren’t sure if there is a recession, they can always get together on a plan to give away money – especially in an election year."

Debra J. Saunders

"The lower-class individual lives from moment to moment. If he has any awareness of a future, it is of something fixed, fated, beyond his control: things happen to him, he does not make them happen. Impulse governs his behavior, either because he cannot discipline himself to sacrifice a present for a future satisfaction or because he has no sense of the future. He is therefore radically improvident: whatever he cannot consume immediately he considers valueless. His bodily needs (especially for sex) and his taste for ‘action’ take precedence over everything else – and certainly over any work routine."

Edward C. Banfield

"If there is to be no loss whatever of dignity or self-respect in getting and staying on relief, then there can be no gain in dignity or self-respect in making some sacrifices to keep off."

Henry Hazlitt

"No international authority can preserve peace if economic wars continue. In our age of international division of labor, free trade is the prerequisite for any amicable arrangement between nations."

Ludwig von Mises

"Taxes are a penalty on progress."

James Cook

January 28, 2008

"As the world gets freer, it gets richer."

John Gwartney

"Economic freedom leads to good things, while government coercion leads to poverty and oppression."

John Stossel

"The more ‘adequate’ we make relief, the more people we are going to find willing to get on it and stay on it indefinitely. The more we try to make sure that everybody really in need of relief gets it, the more certain we can be that we are also giving it to people who neither need nor deserve it."

Henry Hazlitt

"Public opinion always wants ‘easy money,’ that is, low interest rates."

Ludwig von Mises

January 25, 2008

"Although we are at peace and without a Cold War, our government is currently spending at a higher rate than the peak 30%-of-GDP rate of World War I, and nearing the record 50%-of-GDP rate of World War II! There is a broad consensus that government spending must be cut."

R. J. Rodgers

"Government-to-government foreign aid promotes statism, dirigisme, socialism, dependence, pauperization, inefficiency and waste. It prolongs the poverty it is designed to cure. Voluntary private investment in private enterprise, on the other hand, promotes capitalism, production, independence and self-reliance."

Henry Hazlitt

"The educated classes are possessed by the idea that in the social domain anything can be accomplished if only one applies enough force and is sufficiently resolute."

Ludwig von Mises

"The test of good writing is to simplify complex subjects."

James Cook

January 24, 2008

"No ordinary misfortune, no ordinary misgovernment, will do so much to make a nation wretched as the constant effort of every man to better himself will do to make a nation prosperous. It has often been found that profuse expenditures, heavy taxation, absurd commercial restrictions, corrupt tribunals, disastrous wars, seditions, persecutions, conflagrations, inundations, have not been able to destroy capital so fast as the exertions of private citizens have been able to create it."

Thomas Babington Macaulay

"There is a profound contrast between the effects of foreign aid and of voluntary private investment: Foreign aid goes from government to government. It is therefore almost inevitably statist and socialistic."

Henry Hazlitt

"Almost all the fathers of socialism were members of the upper middle class or of the professions."

Ludwig von Mises

January 23, 2008

"If you have government health care, you not only annex a huge chunk of the economy, you also destroy a huge chunk of individual liberty. You fundamentally change the relationship between the citizen and the state into something closer to that of junkie and pusher, and you make it very difficult ever to change back."

Mark Steyn

"In 1913, the 16th Amendment legalized a federal income tax with a levy of 1% of GDP. Today, the American Dream is being eroded by the ever-increasing burden of federal, state, and local taxes, which consume a whopping 35% of our national output."

T. J. Rodgers

"Competition always tends to bring about the most economical and efficient method of production. Those who are most successful in this competition will acquire more capital to increase their production still further; those who are least successful will be forced out of the field. So capitalist production tends constantly to be drawn into the hands of the most efficient."

Henry Hazlitt

"The first socialists were the intellectuals; they and not the masses are the backbone of Socialism."

Ludwig von Mises

January 22, 2008

"Taxing the rich to fund poorly managed government programs is simply a self-destructive decision: It does nothing more than move money and investment decisions away from proven moneymakers (read: job producers) to Washington amateurs. In both cases, American’s lose."

T.J. Rodgers

"We are so accustomed to the miracle of private enterprise that we habitually take it for granted. But how does private industry solve the incredibly complex problem of turning out tens of thousands of different goods and services in the proportions in which they are wanted by the public?.… It solves these problems through the institutions of private property, competition, the free market, and the existence of money – through the interrelations of supply and demand, costs and prices, profits and losses."

Henry Hazlitt

"Many ‘progressive’ professors have for some time served in one of the various alphabetical government agencies…They compiled statistics and wrote memoranda which their superiors, either politicians or former managers of corporations, filed without reading. The professors did not instill a scientific spirit into the bureaus. But the bureaus gave them the mentality of authoritarianism. They distrust the populace and consider the State (with a capital S) as the God-sent guardian of the wretched underlings. Only the Government is impartial and unbiased. Whoever opposes any expansion of governmental powers is by this token unmasked as an enemy of the commonweal."

Ludwig von Mises

"The best possible way to learn about the world is to run your own business."

James Cook

January 18, 2008

"The Mortgage Finance Bubble is a bust, Wall Street finance is imploding, and foreign financial institutions are keen to cut and run from the business of providing U.S. Credit. Countrywide’s mortgage problems will be absorbed – along with so many other risks – by our own highly vulnerable domestic banking system. Worse yet, the economy is quickly succumbing to recessionary forces. With a high degree of confidence we can proclaim that the Mortgage Crisis has now evolved into a Corporate Debt Crisis – and this crisis will not be resolved anytime soon – by rates, by helicopters, or by bailouts."

Doug Noland

"Another false remedy for poverty is the progressive income tax, as well as a very heavy burden of capital gains taxes, inheritance taxes, and corporate income taxes. All of these have the effect of discouraging production, investment, and capital accumulation. To that extent they must prolong rather than cure poverty."

Henry Hazlitt

"There are people to whom monetary calculation is repulsive. They do not want to be roused from their daydreams by the voice of critical reason. Reality sickens them, they long for a realm of unlimited opportunity. They are disgusted by the meanness of a social order in which everything is nicely reckoned in dollars and pennies."

Ludwig von Mises

"Guilt is a powerful force for good."

James Cook

January 17, 2008

"New taxes are so unpopular that most ‘social’ handout schemes are originally enacted without enough increased taxation to pay for them. The result is chronic government deficits, paid for by the issuance of additional paper money."

Henry Hazlitt

"American authors or scientists are prone to consider the wealthy businessman as a barbarian, as a man exclusively intent upon making money."

Ludwig von Mises

January 16, 2008

"The mounting burden of taxation not only undermines individual incentives to increased work and earnings, but in a score of ways discourages capital accumulation and distorts, unbalances, and shrinks production."

Henry Hazlitt

"It is certain that many intellectuals envy the higher income of prosperous businessmen and that these feelings drive them toward socialism. They believe that the authorities of a socialist commonwealth would pay them higher salaries than those that they earn under capitalism."

Ludwig von Mises

January 15, 2008

"When any welfare scheme is being proposed, its political sponsors always dwell on what a generous and compassionate government should pay to Paul; they neglect to mention that this additional money must be seized from Peter."

Henry Hazlitt

"The intellectual leaders of the peoples have produced and propagated the fallacies which are on the point of destroying liberty and Western civilization."

Ludwig von Mises

"Muscles make the athlete."

James Cook

January 14, 2008

"Socialists will often talk as if some form of superbly equalized destitution were preferable to ‘maldistributed’ plenty. A national income that is rapidly growing in absolute terms for practically everyone will be deplored because it is making the rich richer."

Henry Hazlitt

"Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties."

Ludwig von Mises

January 11, 2008

"There are two distinct classes of men. Those who pay taxes and those who receive and live upon taxes."

Thomas Paine

"The collapse of values and the risks of the credit squeeze are the worst since the Great Depression. We are going to put the economy’s resilience to a severe test."

Mort Zuckerman

"No emergency can justify a return to inflation. Inflation can provide neither the weapons a nation needs to defend its independence nor the capital goods required for any project. It does not cure unsatisfactory conditions. It merely helps the rulers who policies brought about the catastrophe to exculpate themselves."

Ludwig von Mises

"It’s much easier to adjust to new circumstances when there is no other option."

James Cook

January 10, 2008

"The envious are not satisfied with equality; they secretly yearn for superiority and revenge. In the French Revolution of 1848, a woman coal-heaver is said to have remarked to a richly dressed lady: ‘Yes, madam, everything’s going to be equal now; I shall go in silks and you’ll carry coal.’"

Henry Hazlitt

"Man’s envy is at its most intense where all are almost equal; his calls for redistribution are loudest when there is virtually nothing to redistribute."

Helmut Schoeck

"The economy is clearly transitioning to much slower growth, sharply tighter lending standards, a declining housing market, and pressure on consumer spending. People and companies are trying to cope with the debt accumulated during several years of profligate lending and spending. The real danger from a credit crunch is that everyone, from banks to corporations to households, may retrench simultaneously."

Mort Zuckerman

"Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism."

Ludwig von Mises

January 9, 2008

"None of the candidates looks truly inspiring at this point. I wouldn’t buy a used car from most of them, nor a brand new car from some of them. John Edwards is the easiest to peg. He looks just like the phony that he is. His talk about poor children going to bed hungry may rouse the far left in his party but in fact the lowest-income people are even more obese than the rest of us, not that the facts make the slightest difference to Senator Edwards."

Thomas Sowell

"In sum, there is no way to have a cleaning of balance sheet excesses without running enormous risks with the economy. So policy makers feel little option other than to keep easing regardless of future consequences."

Bank Credit Analyst

"Columbia University won’t allow U.S. military recruiters on campus because ‘Don’t ask, don’t tell’ discriminates against homosexuals, but it will invite Mahmoud Ahmadinejad, whose government beheads you if they think you’re bebottoming."

Mark Steyn

"Inflation has always been an important resource of policies of war and revolution and why we also find it in the service of socialism."

Ludwig von Mises

January 8, 2008

"Apparently the only people who are supposed to be responsible are the taxpayers – and they are increasingly made responsible for other people’s irresponsibility."

Thomas Sowell

"The problem for the Fed is that monetary policy may be no match for the deep structural contradictions that plague the financial system. We are dealing here with a whole new set of credit instruments that are little understood and therefore extremely difficult to price."

Mort Zuckerman

"The envious are more likely to be mollified by seeing others deprived of some advantage than by gaining it for themselves. It is not what they lack that chiefly troubles them, but what others have."

Henry Hazlitt

"The advocates of public control cannot do without inflation. They need it in order to finance their policy of reckless spending and of lavishly subsidizing and bribing the voters."

Ludwig von Mises

"Once you have something negative written about you in the press you generally take the side of those who are being written about."

James Cook

January 7, 2008

"The grade schools no longer teach American history as any kind of coherent narrative. ‘Paint me warts and all,’ Oliver Cromwell instructed his portraitist. But in public education, American children paint only the warts – slavery, the ill-treatment of Native Americans, the pollution of the environment, more slavery… There are attempts to put a positive spin on things – the Iroquois stewardship of the environment, Rosa Parks’ courage on the bus – but cumulatively, heroism comes to be defined as opposition to that towering Mount Wartmore of dead white males."

Mark Steyn

"Every year we now have to hear whining from dolts who are offended not only by a baby laying in a manger, but also by images of decorated trees and a jolly old man in a beard. Call me a theocrat, but I have had enough of this politically correct bilge."

Bill O’Reilly

"The authorities are caught in a trap: they can’t let the system implode, and the only solution is to encourage more excesses that will cause greater problems later on."

Bank Credit Analyst

"What is now seriously in question is the capacity of our financial system to provide enough credit to support the scale of investment that has maintained our long economic expansion. Coming at a time of soaring oil prices, we may have a simultaneous decline in consumer spending, residential investment, and business investment. The economy was strong in the third quarter but clearly dropping off by the end. We may be at the finish of not just the long-term borrowing bubble but the long-term spending bubble."

Mart Zuckerman

"Inflation is essentially antidemocratic."

Ludwig von Mises

January 4, 2008

"There can be little doubt that many egalitarians are motivated at least partly by envy."

Henry Hazlitt

"Credit expansion and inflationary increase of the quantity of money frustrate the ‘common man’s’ attempts to save and to accumulate reserves for less propitious days."

Ludwig von Mises

"People judge you on what you are, not why you are what you are."

James Cook

January 3, 2008

"Once the premise is accepted that poverty is never the fault of the poor but the fault of ‘society’, or of ‘the capitalist system,’ then there is no definable limit to be set on relief, and the politicians who want to be elected or reelected will compete with each other in proposing new ‘welfare’ programs to fill some hitherto ‘unmet need.’"

Henry Hazlitt

"The same government that requires a taxpaying citizen to document every statement on his tax return decrees that questioning a welfare applicant demeans and humiliates him."

Ronald Reagan

"The pretended solicitude for the nation’s welfare, for the public in general, and for the poor ignorant masses in particular was a mere blind. The governments wanted inflation and credit expansion, they wanted booms and easy money."

Ludwig von Mises

January 2, 2008

"The Bible tells us that not a sparrow falls but that God knows about it. Congressional Republicans seem to have decided that the federal government should follow the same rule. Nothing should happen in America without Congress getting involved."

David Boaz

"The tendency of welfare spending in the United States has been to increase at an exponential rate."

Henry Hazlitt

"Inflation and credit expansion, the preferred methods of present day government openhandedness, do not add anything to the amount of resources available. They make some people more prosperous, but only to the extent that they make others poorer."

Ludwig von Mises

"Inflation makes the wealthiest people richer and the masses poorer."

James Cook