Week In Review

Quote of the Week

“All loans, in the eyes of honest borrowers, must eventually be repaid. All credit is debt. Proposals for an increased volume of credit, therefore, are merely another name for proposals for an increased burden of debt. They would seem considerably less inviting if they were habitually referred to by the second name instead of by the first.” – Henry Hazlitt, Economics in One Lesson

ACLU Of Nevada Declares Support For Individual’s Right To Keep And Bear Arms

“In a surprising break from the national office of the American Civil Liberties Union (ACLU), the Nevada state office recently declared its support for an individual’s Right to Keep and Bear Arms, apparently making it the first state affiliate to break with the national ACLU’s position on the Second Amendment.” more…

American Fascism in the Ascendant

“The only way out of this trap is not to attempt the impossible, not to grant government such powers, not to ask it to solve our problems, and instead to assume the responsibility for solving our own problems. The stark choice is between slavery and freedom. And fascism means slavery. The present course is slavery and will bring more slavery, without satisfactory solutions to any of our problems. And the amazing thing is that the moment we abandon fascism and powerful government, we will discover that the problems that government is now exacerbating and making worse will suddenly become tractable and manageable.” more…

Economy Forces Strippers to Jockey for Pole Position

“So how high can gold go? My usual answer is to first demand an estimate of, ‘How low can the dollar can go?’, which is the same as asking ‘How low WILL the dollar go?’, which is the easiest question on the whole mid-term exam; the answer is that it can, and will, go to zero.”

“How do I know that the dollar will go to zero value? Because it is a fiat currency, and all of the other thousands of fiat currencies tried by different countries over the millennia have ALL gone to zero! All!” more…

Packers have contacted multiple teams about Favre

“An idea once even more unthinkable than a Brett Favre comeback is now under consideration.”

“The Green Bay Packers have spoken to multiple teams to see what they would be willing to offer for Favre.” more…

Honorable Exit From Empire

“The raison d’être for NATO was the Red Army on the Elbe. It disappeared two decades ago. The Chinese army left North Korea 50 years ago. Yet NATO endures and the U.S. Army stands on the DMZ. Why?”

“Because, if all U.S. troops were brought home from Europe and Korea, 10,000 rice bowls would be broken. They are the rice bowls of politicians, diplomats, generals, journalists and think tanks who would all have to find another line of work.”

“And that is why the Empire will endure until disaster befalls it, as it did all the others.” more…

And now the numbers

DOW Jones Industrials – 11,370.69 (-125.88 )
Wilshire 5000 – 12,837.10 (- 6.41)
CSI 300 (China) – 2,939.20 (+123.74)
BSE 500 (India) – 5,508.25 (+304.27)
MICEX (Russia) – 1,487.10 (-135.99)
BOVESPA (Brazil) – 57,199.14 (-2,788.96)
Gold/oz – 936.90 (-21.10)
Silver/oz – 17.375 (-0.825)
Copper/lb – 3.605 (-0.064)
Oil/bbl (Brent) – 124.52 (- 5.67)
Wheat/bu (CBT) – 8.11 (+ 0.07)
Corn/bu – 5.965 (- 0.32)
Rough Rice – 16.72 (- 1.08 )
Dollar/Euro – 1.5715 (-0.0129)
Yuan/Dollar – 6.815 (+0.0031)
Yen/Dollar – 107.87 (+0.905)
Dollar/Real – 0.6375 (+0.0066)
3 Month Treasury – 1.73 (+ 0.26)
2 Year Treasury – 2.70 (+ 0.06)
10 Year Treasury – 4.10 (+ 0.02)
30 Year Treasury – 4.69 (+ 0.04)
Fed Target Rate – 2.00 (UNCHG)
U.S. Public Debt – 9,540,161,111,017.01 (+22,209,828,267.69)

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