Quote of the week
“[D]espite all the high-minded rationalizations it hides behind, collectivism is the ‘philosophy’ of every cockroach and sewer rat: “If I want it, I must need it, and if I need it, I have a right to it, and if I have a right to it, it doesn’t matter what I have to do to get it.” The fact that such an inherently animalistic, short-sighted, anti-human viewpoint is now painted by some as compassionate and progressive’ does not make it any more sane, or any less dangerous.” – Larken Rose
“The so-called Reagan revolution is proof that wanting smaller government isn’t the same as getting it. By the end of his presidency, every bad thing – that is to say everything – about our federal government had increased radically.” – by Karen Kwiatkowski
by Anthony Gregory
“How can a modern national election be just, even if all the votes are counted? How can one man rule 300 million Americans, most of whom did not vote for him, just because a majority of those who did vote considered him the lesser of evils? It would be insane to subject nearly half the nation to Obama’s rule, or McCain’s rule, no less than it has been an injustice that from sea to shining sea we have all been ruled by Bush for eight years, and Clinton for eight years before that.
“What’s more, when we are talking about mass democracy, we are not even talking about true democracy. The two choices presented, unlike the zillions of choices available in the marketplace, were picked by establishment handlers and have been vetted to ensure they will continue business as usual. Meanwhile, the illusion of democracy tricks the populace into thinking the state is an extension of themselves, only bolstering the state’s capacity to commit oppression. Far from being a check on despotism, elections provide democratic states the social legitimacy to conduct all manners of mayhem.” more…
by Ludwig von Mises
“Many advocates of interventionism are bewildered when one tells them that in recommending interventionism they themselves are fostering anti-democratic and dictatorial tendencies and the establishment of totalitarian socialism. They protest that they are sincere believers and opposed to tyranny and socialism. What they aim at is only the improvement of the conditions of the poor. They say that they are driven by considerations of social justice, and favour a fairer distribution of income precisely because they are intent upon preserving capitalism and its political corollary or superstructure, viz., democratic government.”
This tract, which was written some time ago is a brief history and critique of 20th century totalitarian regimes. Perhaps it is also a warning, one that we would do well to heed. If you don’t have time for the whole thing, which isn’t even that long, I would suggest just chapter 1 and 2, or if you are really in a hurry just chapter 2. Read more here.
by Larken Rose
“If, for example, you support any of the collectivist redistribution plans and programs pitched by both
major parties, then I simply ask that you drop the charade, set aside the euphemisms and obfuscations, and do it openly and honestly. If you believe that there is someone somewhere whose
supposed ‘need’ entitles him to what my time and effort have produced, with or without my consent, then pick up a gun, come to my house, and take it from me yourself. Don’t hide such destructive
evil behind elections, legislation, and political rhetoric. Do it openly and honestly, or don’t do it at all. If you give your vote to ANY collectivist, you are just as guilty of robbing me, and robbing a couple hundred million other people, as if you had done it yourself. But in addition to being a thief, you’d also be a fraud and a coward, because you lie (maybe even to yourself) about what it is you advocate, and don’t have the spine to go do it yourself.” more…
by Manuel Alvarez Jr
“[N]obody asked about the change, so by the time the executioner’s guns went silent the people’s guns had been taken away. By the time everyone was equal, they were equally poor, hungry, and oppressed. By the time everyone received their free education it was worth nothing. By the time the press noticed, it was too late, because they were now working for him. By the time the change was finally implemented Cuba had been knocked down a couple of notches to Third-World status. By the time the change was over more than a million people had taken to boats, rafts, and inner tubes. You can call those who made it ashore anywhere else in the world the most fortunate Cubans.” more…
“It is both historic and meaningful that the United States has elected its first African-American president. We applaud and celebrate this. We think the significance of this event transcends mere symbolism. Otherwise, the election was what all other elections have been… ‘a tale told by an idiot, full of sound and fury, signifying nothing.'” more…
In the news
- House Democrats contemplate abolishing 401(k) tax breaks. As a friend of mine put it, “so starts the dismantling.” More here.
- Rainforest Fungus Naturally Synthesizes Diesel
- Massachusetts voters approved a ballot initiative to decriminalize possession of small amounts of marijuana. Meanwhile Michigan voters approved a medical marijuana proposal.
And now the numbers
DOW Jones Industrials – 8,943.81 (-381.20/-4.09%)
Wilshire 5000 – 9,358.30 (-410.34/-4.20%)
CSI 300 (China) – 1,677.83 (+14.17/0.85%)
BSE 500 (India) – 3,690.22 (+120.15/3.37%)
MICEX (Russia) – 725.93 (-6.03/-0.82%)
BOVESPA (Brazil) – 36,665.11 (-591.73/-1.59%)
Gold/oz – 734.20 (+16.00/2.23%)
Silver/oz – 9.963 (+0.233/2.39%)
Copper/lb – 1.697 (-0.132/-7.22%)
Oil/bbl (Brent) – 57.35 (-8.25/-12.58%)
Wheat/bu (CBT) – 5.21 (-0.1525/-2.84%)
Corn/bu – 3.755 (-0.26/-6.48%)
Dollar/Euro – 1.2714 (-0.0018/-0.14%)
Yuan/Dollar – 6.8208 (-0.0142/-0.21%)
Yen/Dollar – 98.21 (-0.255/-0.26%)
Dollar/Real – 0.4667 (+0.0037/0.80%)
3 Month Treasury – 0.28 (-0.10/-26.32%)
2 Year Treasury – 1.32 (-0.24/-15.38%)
10 Year Treasury – 3.79 (-0.17/-4.29%)
30 Year Treasury – 4.27 (-0.06/-1.39%)
Fed Target Rate – 1.00 (UNCHG)
U.S. Public Debt – 10,624,730,227,798.19 (+93837194020.00/0.89%)
Sorry for the delay in the newsletter. We were in Celeveland for the Broncos game and I just got home. As for the game, it was great! The Broncos pulled off a come from behind victory in the fourth quarter, scoring three touchdowns. Culter had 441 yards passing on the night. The offense looked good. The defense is still rather inept, but they may have played better than in weeks past.
Anyway, the game was fun though Celeveland itself is sort of ho-hum. There are a lot of early 20th century government buildings, which are pretty. Celveland is also home to a Federal Reserve Bank, which we walked by and bemoaned. It is a regal looking building I must say…
Then there’s the election. Sort of disappointing. I had hoped third party candidates would get more votes, but it looks like everyone is for the most part tied up in the same old Demican Republicrat trap. I am happy, however that the Republuicans have more than 40 seats in the Senate. It will be bad enough without the Democrats having a supermajority in the Senate. I say hold onto your wallets for the next couple years at least.
Meanwhile we have lots of work to do with respect to educating the populace about the merits of constitutionally limited government, which truly could be a thing of the past if we do not act soon. It’s also not too early to start thinking about finding qualified constitutionalists to run for state and federal representative in the elections in two-years. In fact that person could be you!
So that’s it for now. I hope everyone is enjoying their weekend!