Poster of The Day: New Health Care Reform Plan Explained...

Quote of the Day: Health Care Wisdom

"It is amazing that people who think we cannot afford to pay for doctors, hospitals, and medication somehow think that we can afford to pay for doctors, hospitals, medication and a government bureaucracy to administer it."

Thomas Sowell

Quote of The Day: How Long To Get Back to 5% Unemployment?

"At a rate of 250,000 new jobs a month, it would take about 8 years to roll unemployment back to the 5% rate that prevailed at the end of 2007."


- Reuters

Quote of The Day: The Fed Is Concerned About A Japanese-Style Economy...

“The Fed outlook was so extreme they have to be worried about a Japanese-style no-growth deflationary environment. ”

Harvard Professor, Niall Ferguson

"The Fed has made it clear they intend to be accommodative and proactive, and now I can assume that 'short' rates will remain effectively zero for three years, rather than a year and a half."

Christopher Molumphy, Chief Investment Officer, Franklin Templeton Fixed Income.

Quote of The Day: Higher Taxes Ahead...

“One way or another, whether we end up with a Republican or a Democrat as the next president, it would appear that taxes are going up, because the tax issue is not going away.”

- Stanley Smiley, Senior VP of Advanced Planning at Cetera Financial Group, which has $82.5 billion under advisement.

Quote of The Day: Fear and Greed...

"Be fearful when others are greedy. Be greedy when others are fearful."

- Warren Buffett

Quote of the Day: A Fundamental Economic & Political Fallacy...

A fundamental fallacy is the notion that politicians can "grow the economy" by taking money out of the private sector and spending it wherever it is politically expedient to spend it -- so long as they call spending "investment."

~Thomas Sowell - Economist

Quote of The Day: Why France's Biggest Banks Are In Deep Trouble

This scary statistic from a BNP Paribas bank executive who declined to be named...

"The total debt of the three big U.S. banks (Bank of America, JP Morgan and Citigroup) is $5.86 trillion, or 39% of U.S. GDP, while the debts of BNP Paribas, Crédit Agricole and Société Générale (France's three biggest banks) come to €4.7 trillion, or 250% of French GDP."

Quote of The Day: Japan-Like Economic Growth Ahead?

“It's pretty amazing that the Fed will (keep rates) exceptionally low until 2013,” said Jason Rogan, director of U.S. government trading at Guggenheim Partners LLC, a New York-based brokerage for institutional investors. “They are telling you that we are in a stage of Japanese-like economic growth.”

Quote of the Day: "The Folly of Short-Termism"

"The central issue facing the U.S. is whether we turn away from unsustainable budget and trade deficits toward an economy that grows at historic rates with low inflation. More redistribution now won't do that. More investment and productivity growth now will, and it will also provide more resources to pay for a greater share of future health-care costs at lower tax rates."

~Allan H. Meltzer

Mr. Meltzer, a professor of public policy at the Tepper School, Carnegie Mellon University and a visiting scholar at the American Enterprise Institute, is the author of "A History of the Federal Reserve" (University of Chicago Press, 2003 and 2009).

Quote of The Day: On Ignorance

"Ignorance isn't bliss.

It's expensive."

Quote of The Day: A Nation of Makers or A Nation of Takers?

"More Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining and utilities combined. We have moved decisively from a nation of makers to a nation of takers. Nearly half of the $2.2 trillion cost of state and local governments is the $1 trillion-a-year tab for pay and benefits of state and local employees."


- Stephen Moore, Wall Street Journal

Quote of The Day: Mark Arbeter, S&P’s Chief Technician Warns...

“Despite the hoopla over the DJIA crossing 12,000 and S&P 500 breaching 1,300 this week, we see mounting cracks in the dam. Many indices in the U.S., as well as globally have failed to follow the DJIA and S&P 500 over the last week, and we see this as a major warning that a pullback or correction is near.”

“In addition to the non-confirmations by many indices, we are also seeing plenty of divergences with respect to market internal data. At the same time, price momentum is overbought on a daily and weekly basis, and market sentiment is tilted very heavily toward the bullish camp. This, to us, all adds up to a 5% to 10% decline in the major indices over the next month or two.”

Quote of The Day: Markets & Politicians

"Markets don't lie. Politicians do."

Quotes of The Day: Keynes & Friedman on Inflation...

"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens." 
- John Maynard Keynes

"Inflation is taxation without legislation."
 - Milton Friedman

Quote of The Day: Sir Winston Churchill on Optimism...

“The pessimist sees difficulty in every opportunity.” 

“The optimist sees opportunity in every difficulty.”  

 - Sir Winston Churchill

Quote of The Day: Bill Gates on Pessimism...

“Pessimism is so often wrong because people assume a world where there is no change or innovation. They simply extrapolate from what is going on today, failing to recognize the new developments and insights that might alter current trends.” 


- Bill Gates

Quote of The Day: De Tocqueville on The American Republic...

"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."

- Alexis De Tocqueville

Quote of The Day: John Adams on The National Debt...

"There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt."

-John Adams, US President

 

Quote of The Day: Courtesy of John Galt & Ayn Rand

"When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see money flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and pull than by work - you may know that your society is doomed."


- John Galt, Atlas Shrugged