Week in Review

Quote of the week

“Today, we believe, despite becoming net buyers of gold for the first year since 1988, central banks are ‘pawning’ that gold at the Bank for International Settlements (BIS) — the central bankers’ central bank — and helping to depress the price.” – Addison Wiggin & Ian Mathias

The Founders’ Vision Versus Ours

by Walter Williams

“The celebration of our founders’ 1776 revolt against King George III and the English Parliament is over. Let’s reflect how the founders might judge today’s Americans and how today’s Americans might judge them.” more…

The Myth of the Social Security “Trust Fund”

by Robert P. Murphy

“The time of reckoning is already upon us: Social Security is right now in deficit, sucking funds out of the general pool. Americans should brace for further tax hikes — in the name of ‘saving Social Security’ — and anyone under 40 should have no illusions about retirement benefits.” more…

Nullification Should Be Taken Seriously, Not Caricatured

by Art Carden

“The weeks surrounding Independence Day are always a good time to assess the American experiment in liberty. For all of our successes, there remains a lot of discontent across the political spectrum. The federal government is fighting the states over the issue of medical marijuana, for example, and we’re also preparing to add to the Supreme Court a justice who apparently thinks that “Congress shall make no law…abridging the freedom of speech” with respect to speech means that ‘Congress shall weigh the costs and benefits of making a law’ before passing a law ‘abridging the freedom of speech.’ What option do the people and the states have if they disagree and wish to hold fast to the “Congress shall make no law” principle? Or what if they think the Federal government is overstepping its constitutional bounds?” more…

Regulars

Politics and Such

  • In a draft of Declaration of Independence Jefferson originally used the word “subject” instead of “citizen”. Or so say researchers at the Library of Congress.
  • New York Times article on oil industry subsidies.
  • Copyright being used as a weapon in US Senate campaign in Nevada.
  • Nullification: Thomas Woods interviews with a zombie. (video: 8:18). Relevant, intelligent, and humorous. Highly recommended.
  • Rhode Island police arrest illegal immigrants, but unlike with Arizona, Boy Blunder’s administration isn’t suing them. Here’s some scathing commentary on that.
  • Greek unions strike ahead of pension vote. A preview of what may be coming to a city or state near you?
  • GM to sell steering unit to Chinese.
  • Federal courts on gay marriage and the tenth amendment. Nice…
  • List of candidates for federal office that support the Downsize DC agenda.

Miscellany

And now the numbers…

DOW Jones Industrials – 10,198.03 (+511.55/5.28%)
S&P 500 – 1,077.96 (+55.38/5.42%)
VIX – 24.98 (-5.14/-17.07%)
CSI 300 (China) – 2,647.104 (+112.999/4.46%)
BSE 500 (India) – 7,163.46 (+139.88/1.99%)
MICEX (Russia) – 1,324.17 (+36.12/2.80%)
BOVESPA (Brazil) – 63,476.32 (+2,046.531/3.33%)
RICI – 3,003.67 (+105.74/3.65%)
Gold/oz – 1,209.80 (+2.10/0.17%)
Silver/oz – 18.073 (+0.354/2.00%)
Copper/lb – 305.35 (+13.75/4.72%)
Oil/bbl (Brent) – 75.42 (+3.77/5.26%)
Wheat/bu (CBT) – 538.00 (+35.00/6.96%)
Corn/bu – 395.25 (+10.75/2.80%)
EUR-USD – 1.2641 (+0.0075/0.60%)
USD-JPY – 88.621 (+0.871/0.99%)
USD-BRL – 1.7554 (-0.0167/-0.94%)
3 Month Treasury – 0.15 (-0.01/-6.25%)
2 Year Treasury – 0.62 (UNCHG)
10 Year Treasury – 3.05 (+0.07/2.35%)
30 Year Treasury – 4.04 (+0.10/2.54%)
3 Month LIBOR – 0.53 (UNCHG)
U.S. Public Debt (official) – 13,192,234,850,314.20 (+13,917,494,098.50/0.11%)
Baltic Dry Index (BDIY:IND) – 1,902.00 (-378.00/-16.58%)

Interesting week.

Made some phone calls for Rick Olson tonight. He’s running in the Michigan 55th House District and is facing several primary challengers.

Also spent a lot of time with Baby Girl this week. The path toward walking continues. There have been “no hands” transfers between pieces of furniture.

Cooked some good food, including a rack of lamb, which came from a very delicious lamb that was raised by a friend of mine.

Work has been quite productive as well. We’re getting ready to release a major revision of our software, which will include the project I have been working on for over six months now. Finally!

As for the weekend: Baby Girl’s swimming lessons start again tomorrow. I’ve also got to get some work done. Then I’ll be spending some time dropping off yard signs for Rick. Actually, if you happen to live in the 55th district and you want one, we could make that happen. Wife and I are also going to go see The Last Airbender tomorrow evening. Anyway, after all of that, hopefully there’ll be time for a little reading… We shall see.

Have a great weekend!

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