Quote of the day

If a loose monetary policy and rapid asset price inflation were the route to economic prosperity, Argentina would be the richest country in the world by now.

Albert Edwards
Co-Head, Global Cross Asset Strategy
Societe Generale

Quote of the day

The big lie of capitalism is that everyone can be rich. That is just not so. Capitalism can only allow a small percentage of people to become rich. If everyone were rich, who would dispose of the trash, fix the sewers, or any of the thousands of other tasteless and dreary jobs our society requires. Capitalism cannot function unless the vast majority of people are INTENTIONALLY kept poor in order to keep them working. Capitalism depends on an imposed wealth differential. When you complain that you are being taxed into poverty, you are so very close to the truth. Thaty is the point of taxes; to keep you poor, to prevent you from acquiring enough wealth that you can put down your tools, kick back, and refuse to do as you are told by the self-appointed leaders of the world, who see all humans as intended by the gods to build monuments to the greatness of the enslavers.

-- ???

Quote of the day

"Bull markets are born on pessimism, grow on skepticism, mature on  optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to  sell." 

-- Sir John Templeton