We shall never change our political leaders until we change the people who elect them.
The triumph of persuasion over force is the sign of a civilized society.
Taxation is the price we pay for failing to build a civilized society. The higher the tax level, the greater the failure. A centrally planned totalitarian state represents a complete defeat for the civilized world, while a totally voluntary society represents its ultimate success.
Balance in life is the key, as Aristotle taught us. Nobody likes a naive Pollyanna, but neither do we like to be around people who are constantly complaining and finding fault.
YouTube offers the best solution by running an ad before showing the video, but also offering a 'skip ad' button that you can click after five seconds to go directly to the video if you are not interested in the ad. Now, that's what I call consumer sovereignty!
Remember, gold and silver always have had value and never have gone to zero. Can you say the same for stocks and bonds?
Life is full of joys and sorrows, much of it our own making. Sadly, the West has voted time and time again for bigger government, more inflation, higher taxes and excessive regulation - all policies that have kept us from Adam Smith's vision of an opulent society.
For those of us in the financial world, Black Friday has a strong negative connotation, referring to a stock market catastrophe.
Since the 1970s, I've been a big fan of attending conferences as a great way to learn, network, socialize and enjoy a new environment. It's always refreshing to get out and see a whole new world.
If you subscribe to any online service, whether it be AOL, Google, Yahoo, or the Huffington Post, have you noticed that you are forced to watch a seemingly endless ad before the video story appears about a news item that caught your eye? AOL and the Huffington Post are especially annoying.
I find it ironic how New York City Mayor Mike Bloomberg is so focused on such small issues as drink sizes, while ignoring the massive infrastructure challenges in New York - lousy roads, third-world airports, traffic jams, etc.
Fraud is common when you give away billions. Fraud related to Hurricane Katrina spending is estimated to top $2 billion. In addition, debit cards provided to hurricane victims were used to pay for Caribbean vacations, NFL tickets, Dom Perignon champagne, 'Girls Gone Wild' videos, and at least one sex change operation.
In the early 1980s, I wrote a book called 'The Complete Guide to Financial Privacy.' If I would write that book today, it would be a pamphlet. There is precious little privacy left.
In my book, 'The Big Three in Economics,' I found that the press has frequently and prematurely written the obituary of Adam Smith and his free-market philosophy, only to see a new and more vibrant global marketplace reemerge after being savagely attacked by Keynesians, Marxists, and assorted socialists.
Bitcoin is not an actual physical coin, and if computers are shut down, you can't buy or sell them. That's why nothing will ever replace gold and silver coins themselves, and all investors should have them at home or in a safe deposit box.
Who uses funds more productively - private citizens or the government? I dare say that Warren Buffett can use his surplus funds more effectively in private business and creating jobs than the government can.
Contrary to what President Obama said in his inaugural address, going on Medicare and food stamps does not strengthen us. Just ask people who are fourth-generation welfare recipients.
In the early 1980s, I burned my Social Security card at the New Orleans Investment Conference in protest of the state pension system.
Our society does not give nearly enough credit to business leaders who create jobs, behave ethically and provide products and services that enhance our lives.
I've felt for some time that economics needs to be taught differently by economists who actually have had experience making a payroll or investing on Wall Street. When economics is taught by pure academics, watch out.
