“When plunder has become a way of life for a group of people living together in society, they create for themselves in the course of time a legal system that authorizes it, and a moral code that glorifies it.” – Fredrick Bastiat
by Michael Boldin
“Guns, national ID cards, and weed might be just the early stages of a quickly growing movement to nullify other federal laws seen as outside the scope of their constitutionally-delegated powers. In states around the country this year, bills have been proposed to defy or nullify federal laws on health care, use of national guard troops overseas, legal tender laws, cap and trade, and even the process of collecting federal income taxes.” more…
by Glenn Greenwald
“As we well know from the last eight years, the authoritarians among us in both parties will, by definition, reflexively justify this conduct by insisting that the assassination targets are Terrorists and therefore deserve death. What they actually mean, however, is that the U.S. Government has accused them of being Terrorists, which (except in the mind of an authoritarian) is not the same thing as being a Terrorist.” more…
by Gary North
“The U.S. government has a nasty surprise for tens of millions of retirees: a now-empty piggy bank. Two of them, actually: Social Security and Medicare.
“Most old people don’t want to think about all this. It’s too painful. It threatens their retirement plans. People don’t like to re-structure their lives away from their lifetime dream. But, at some point, tens of millions of retired Americans will have to do this. Better sooner than later.” more…
by Tex Norton
“I suggest the answer is the gradual brain-washing that has taken place over the decades that promotes government as being the know-all, be-all for society. Somehow if an individual gains enough support to get elected to an office, that person is instantly transformed into a superior being; a much more knowledgeable person than just prior to that election. Doesn’t make much sense, does it? Yet that is exactly the status we seem to confer on elected officials. Somehow they are no-longer fallible humans once elected. Nonsense. I could even make the argument that they have become less knowledgeable because of their stupidity to allow themselves to become an elected official in the first place. Have you noticed that the really intelligent people you personally know wouldn’t even consider running for an elective office? Why do you suppose that is? Do they know something you should?” more…
- The Bain Report
- Zero failed banks this week.
- Bill Bonner – Go Tell it to the Spartans: Drop Dead
Politics and Such
- John Dingell, the 40+ year incumbent of MI-15 has a challenger, Robert Steele, a cardiologist from Superior Township.
- The National Animal Identification System is dead.
- Hillary Clinton as a Supreme Court Justice?
- Glen Beck interview with Deb Medina.
- Another “food safety” bill is afoot. Thanks John McCain!
- Iran’s nuclear program is progressing.
- More on the Euro. Turns out each Euro Zone country prints its own. Also turns out the German Euro’s are outranking the PIGS (Portugal, Italy, Greece, Spain) Euro’s in esteem, though not value, yet.
- Life expectancy calculator.
- Continuous chest compression CPR from the Mayo Clinic (video 2:19). I’ll spare you the bold, courier, red font “this could save someone’s life”, but seriously, it could.
- The Pit, aka the home of Lobos Basketball, was featured on CBS sports. At 21-3, they are currently sitting #1 in the Mountain West, and #15 in the country. Go Lobos!
And now the numbers…
DOW Jones Industrials – 10,099.14 (+86.91/0.87%)
S&P 500 – 1,075.51 (+9.32/0.87%)
VIX – 22.73 (-3.38/-12.95%)
CSI 300 (China) – 3,251.278 (+98.191/3.11%)
BSE 500 (India) – 6,463.99 (+149.26/2.36%)
MICEX (Russia) – 1,304.86 (-50.78/-3.75%)
BOVESPA (Brazil) – 65,854.969 (+3,092.27/4.93%)
RICI – 3,058.60 (+117.62/4.00%)
Gold/oz – 1,090.00 (+37.20/3.53%)
Silver/oz – 15.447 (+0.617/4.16%)
Copper/lb – 310.20 (+24.45/8.56%)
Oil/bbl (Brent) – 72.90 (+3.31/4.76%)
Wheat/bu (CBT) – 501.25 (+28.00/5.92%)
Corn/bu – 373.25 (+21.75/6.19%)
EUR-USD – 1.3632 (-0.0046/-0.34%)
USD-JPY – 89.96 (+0.71/0.80%)
USD-BRL – 1.8544 (-0.025/-1.33%)
3 Month Treasury – 0.09 (UNCHG)
2 Year Treasury – 0.83 (+0.07/9.21%)
10 Year Treasury – 3.69 (+0.12/3.36%)
30 Year Treasury – 4.65 (+0.13/2.88%)
U.S. Public Debt (official) – 12,349,324,464,284.30 (+2,896,994,260.30/0.02%)
Baltic Dry Index (BDIY:IND) – 2,571.00 (-144.00/-5.30%)
Wow. It’s been quite the busy week. Barely paid attention to the news.
I heard Obama is going to speak at the University of Michigan commencement this May. And they’re granting him an honorary degree. That’ll sit well next to the Nobel Peace Prize and Constitutional Law Degree. Funny the guy wins a peace prize for being a war monger and has a degree in Constitutional Law, but continually demonstrates that he knows nothing about the Constitution. And so it goes…
My daughter is teething. Yikes… She can scream. I don’t think the pesky tooth has popped out yet. Meanwhile, she’s eating avocado and loving it. Along with rice cereal and peas. Yummy!
Not much else. Have a great weekend!