Quote of the week
“[T]he assault weapons ban would apply only to the sale of such firearms to those who the state has classified as ‘civilians’ (supposedly a designation for citizens who have not been issued fine hats and uniforms by the state). Statists and authoritarians everywhere should be pleased that the ban would not prohibit the sale of semi-automatic weapons to the state (to keep we helpless civilians ‘safe’ and so forth). – Justin Kapacinskas
by Llewellyn H. Rockwell, Jr.
“Intellectual failure is at the root of the problem. Note how the administration invokes economic theory in its defense of its policy of wholesale national looting. In this case, bad economic theory works as a cover for acts of despotism. In the end, this is how the theoretical errors of J.M. Keynes end up having utility for governments.” more…
by Ron Paul
“The Federal Reserve controls the flow of money and credit in our economy because Congress has abdicated its responsibility over the nation’s currency. This process therefore occurs centrally, and almost completely outside the system of checks and balances. Because of legal tender laws, people are left with no real choice, except to build their lives and futures around this monopoly currency, vulnerable to powerful central bankers.” more…
by Dave Gonigam
“[Y]ou can’t use [the word fascism] to describe policy made in Washington, D.C. without basically shutting off all discussion. Use it to describe Bush administration policies, and you’re tagged as a terrorist sympathizer. Use it to describe Obama administration policies, and you’re tagged as a militia nut. So I’ve never bothered with the word. But it does capture the essence of matters in recent years, and especially at this moment. It provides the sort of clarity that ‘socialism’ does not when so many private parties with clout and connections stand to make fortunes.” more…
In the news…
- The Chicago mayor wants a camera on every corner…
- Obama wants to halve the deficit by 2013. Funny how they always plan for the defecit to go down AFTER they’ve left office. Seems to me Bush was going to reduce it by half in 2010. Does anybody actually believe this stuff?
- The legal challenges over Obama’s citeznship continue….
- A $410 billion spending bill is in the works… Heh, it just never ends.
- In case you missed the state of the union address. Here’s a transcript.
- A $1.75 trillion deficit is forecasted… This, of course, does not take into account the fact that all social security and Medicare surpluses are spent and not written as liabilities. IF they were, the deficit would be much higher, and that “surplus” we saw in 2000 would be exposed for the lie it was too. Here’s some information, from the Social Security Administration itself, about how social security receipts are folded into the budgeting process. CFOs and CEOs have been jailed for less dubious accounting practices.
- Did you want to be able to choose the color our your baby’s eyes? Designer babies are on the way… There’s some potential good here, for example the elimination of congenital diseases, but it seems kinda creepy at the same time. In any case, the cat’s out of the bag.
- The United States government has taken a 36% stake in Citigroup.
- IEEE discussion of some recent developments in patent law. This is especially relevant to the patentability of business processes and software.
- Howard Davidowitz says rampant consumerism is over.
And now the numbers…
DOW Jones Industrials – 7,062.93 (-302.74/-4.11%)
Wilshire 5000 – 7,473.97 (-328.23/-4.21%)
CSI 300 (China) – 2,140.49 (-203.83/-8.69%)
BSE 500 (India) – 3,232.11 (-1.86/-0.06%)
MICEX (Russia) – 666.05 (+34.39/5.44%)
BOVESPA (Brazil) – 38,183.31 (-531.33/-1.37%)
Gold/oz – 945.50 (-56.70/-5.66%)
Silver/oz – 13.105 (-1.385/-9.56%)
Copper/lb – 1.535 (+0.102/7.12%)
Oil/bbl (Brent) – 45.84 (+3.95/9.43%)
Wheat/bu (CBT) – 5.215 (-0.09/-1.70%)
Corn/bu – 3.59 (+0.0875/2.50%)
Dollar/Euro – 1.267 (-0.0161/-1.25%)
Yuan/Dollar – 6.8347 (+0.002/0.03%)
Yen/Dollar – 97.625 (+4.40/4.72%)
Dollar/Real – 0.419 (+0.0009/0.22%)
3 Month Treasury – 0.25 (-0.02/-7.41%)
2 Year Treasury – 0.97 (+0.03/3.19%)
10 Year Treasury – 3.01 (+0.22/7.89%)
30 Year Treasury – 3.71 (+0.14/3.92%)
Fed Target Rate – 0.25 (UNCHG)
U.S. Public Debt – 10,881,159,722,022.40 (+79,137,739,897.70/0.73%)
Baltic Dry Index (BDIY:IND) – 1950.00 (-149.00/-7.10%)
I came to a conclusion about Barack Obama and many of his supporters this week. The basicness of it is that his supporters project all of their hopes and ideas about what “change” we need onto him and his empty rhetoric. When they hear him, they actually hear themselves. Now of course not all of his supporters are deluded, and this is certainly not a phenomena unique to Obama either, however I think the more eloquent a person is the better they can elicit this type of response. Anyway, we’ll call that the random thought #1 of the week.
Folks that live in Washtenaw county or nearby are invited to a breakfast meeting Saturday March 7th at 8AM in Saline at the City Limits Diner. A few of us that are involved in the Campaign for Liberty are planning on making this a regular thing. We’re figuring on the first and third Saturdays of every month. If we can get a regular attendance I hope to make this a forum that we can use to get to know our local and county officials. For now the only plan is to visit.
I have a new blog layout! It’s perty.
One thing about the state of the union address: I know that was last week, but bear with me. The President said that he inherited an economic crisis. Fine. As President he did, but as soon as he said that Nancy freaking Pelosi jumped out of her chair and started to clap her little head off. Pathetic. As I recall she’s been in charge of Congress for the last two years. She could have acted to avert this. She could have cut budgets, reined in Fannie and Freddie, woken up the SEC, demanded Fed transparency, or even acted to abolish the Fed. That she did nothing to prevent this mess means that she is just as responsible for it as George Bush is. Arguably she is more responsible for it, as Congress holds the purse strings, and she was in charge of Congress.
The fact of the matter is that neither her pea brain nor the pea brains of the rest of the folks in Congress, except Ron Paul and maybe a very few others, even had the theory upon which a prediction of this current mess could be based. No one saw it coming. So when Obama says he inherited it and Pelosi gets up like Ozzy Osborne and starts bobbing her head and clapping in response, know this, they are both either totally incompetent and incapable of logic or totally corrupt and care for nothing but their power. Either way their credibility is nil. They should be treated accordingly.
Finally, can anyone tell me how a person who is classified as an enemy combatant and captured overseas can be tried in the US court system legitimately? If such a trial requires conviction by a jury of one’s peers, who would such a person’s peers be? We’ll call that random thought #2.
Have a great weekend!