“The Federal Reserve has been the greatest source of instability.” — Milton Friedman “Every recession in the United States has been caused by the Federal Reserve.” — Paul Krugman In 1974, the last time that we battled double-digit-percentage inflation, Harry Browne wrote a book entitled, “You Can Profit from a Monetary Crisis.” It became a […]
“There is a Scotsman inside every man.” — Adam Smith There’s more to a Scotsman than being a thrifty penny-pincher. They are also famous for shrewdly pursing their own self-interest. As economist Wesley Mitchell, the founder of the prestigious National Bureau of Economic Research (NBER), stated, a Scotsman is “a person who was intent primarily […]
“Pride proceedeth the fall.” — Proverbs 16:18 In the beginning of the new millennium, the 21st century, he was the toast of the town. He took a sleepy corporation and made it the most valuable company in the world, with a stock valuation exceeding $600 billion. The stock increased at annual rate of 21% during […]
Special Announcement: I’m happy to announce some new big-name speakers at this year’s FreedomFest. See below. “Peter Drucker contributed as much to the triumph of a free society as any other individual.” — Jim Collins, author, “From Good to Great.” When I teach business at Chapman University, I always ask my students if they know who Peter […]
“The impact of the rate of inflation on the price of gold is like tracking the footprints of an animal.” — Julian M. Snyder (“Maxims on Wall Street,” p. 154) Jay Martin invited me to be a keynote speaker for the first time at the annual Vancouver Resource Investment Conference this week. It was a pain going […]
“You can never change the politicians until you change the people who elect them.” — H. L. (Bill) Richardson For the past 40 years, I’ve been teaching sound free-market economics at several major colleges and universities around the country, including Columbia Business School and now Chapman University. I’m amazed how much impact a professor can […]
“Out of small things proceeds that which is great.” When you struggle with a personal problem or challenge, whom do you turn to? You may confide in a friend, a colleague, a parent or perhaps even a wise old uncle or aunt. Here’s my story. In the late 1990s, I started writing a history of […]
“If greatness is measured by achievement, Orrin Hatch was the greatest U.S. senator of modern times.” — William Doyle, author, “Titan of the Senate” Senator Orrin Hatch was a personal friend of mine for 35 years. When he died last week at age 88, it was the end of a chapter in my life. The members of the […]
I hope when I get old I don’t sit around thinking about it But I probably will Just sitting back trying to recapture a little of the gloria. –Bruce Springsteen, “Glory Days” The flamboyant and legendary financial guru Jim Dines (1931-2022) died last week. He was 91 years old. He was a long-time friend, financial writer, technical analyst […]
“If you’re not healthy, you’re not wealthy.” — R. E. McMaster (“Maxims of Wall Street,” p. 143) “Do not go gentle into that good night, Old age should burn and rave at close of day; Rage, rage against the dying of the light.” — Dylan Thomas (1914-1953) Surveys show that some of our greatest fears […]
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