Quote of the week
“With a gold standard, governments and people must live within their means. This is deeply unpopular with politicians, who must bribe populations with bright new shiny things to get elected. Gold makes it harder to bribe your people and win an election.” – Dan Denning
by Paul Craig Roberts
“This April 15 is the 94th year that Americans have had to file an income tax. For most Americans, the day is a non-event. The federal and state governments have already collected the taxes due by withholding from each paycheck over the course of the calendar year. Most Americans never saw the money and have no real idea that they earned it.” more…
by Glenn Harlan Reynolds
“So who’s behind the Tax Day tea parties? Ordinary folks who are using the power of the Internet to organize. For a number of years, techno-geeks have been organizing “flash crowds” — groups of people, coordinated by text or cellphone, who converge on a particular location and then do something silly, like the pillow fights that popped up in 50 cities earlier this month. This is part of a general phenomenon dubbed “Smart Mobs” by Howard Rheingold, author of a book by the same title, in which modern communications and social-networking technologies allow quick coordination among large numbers of people who don’t know each other.” more…
This comes from the WSJ so we can take it with a grain of salt, however the always daft Paul Krugman thinks we’re all Republican stooges. The truth probably lies somewhere in between. In any case the Campaing for Liberty made a very strong showing in Lansing.
by Justin Raimondo
“The antiwar movement has largely collapsed in the face of Barack Obama’s victory: the massive antiwar marches that were a feature of the Bush years are a thing of the past. Those ostensibly antiwar organizations that did so much to agitate against the Iraq War have now fallen into line behind their commander in chief and are simply awaiting orders.” more…
In the news…
- Texas governor backs 10th Amendment resolution.
- MIT has developed gardener robots.
- More on wiretapping. As noted before the Obama Administration is continuing the Bush Administration’s policies.
- Although I was not able to make it, the Lansing Tea Party was a success. Here’s a lot more on all of that.
- Have a peek at the DHS report on right-wing extremism.
- The Michigan unemployment rate is at 12.6%, and that doesn’t count the droves of folks who have fled… Michigan should be the poster child for the vile effects of modern liberalism.
- Obama wants to “invest” in a national high speed rail network.
- Here’s a retrospective on the Digital Millennium Copyright Act (DMCA).
- Ron Paul on Obama’s speech about the economy.
- Could letters of marque and reprisal work for the piracy problem?
My Two Cents…
It has been an interesting week. Another rape, err tax day, come and gone. But this time there were some surprises. Looks like some folks have had enough. So they had Tea Parties. Sadly I had a meeting and couldn’t make it to Lansing, but that’s not going to stop me from offering up my opinion on the whole matter. more…
And now the numbers…
DOW Jones Industrials – 8,131.33 (+47.95/0.59%)
Wilshire 5000 – 8,889.56 (+145.01/1.66%)
CSI 300 (China) – 2,650.691 (+55.161/2.13%)
BSE 500 (India) – 4,037.84 (+106.42/2.71%)
MICEX (Russia) – 932.90 (+5.52/0.60%)
BOVESPA (Brazil) – 45,778.281 (+239.571/0.53%)
Gold/oz – 869.40 (-11.60/-1.32%)
Silver/oz – 11.825 (-0.505/-4.10%)
Copper/lb – 2.1975 (+0.1265/6.11%)
Oil/bbl (Brent) – 53.35 (-0.71/-1.31%)
Wheat/bu (CBT) – 5.3475 (+0.1275/2.44%)
Corn/bu – 3.7625 (-0.14/-3.59%)
Dollar/Euro – 1.3049 (-0.0148/-1.12%)
Yuan/Dollar – 6.8277 (-0.0014/-0.02%)
Yen/Dollar – 99.145 (-1.105/-1.10%)
Dollar/Real – 0.4571 (-0.0044/-0.95%)
3 Month Treasury – 0.13 (-0.05/-27.78%)
2 Year Treasury – 0.96 (+0.01/1.05%)
10 Year Treasury – 2.95 (+0.03/1.03%)
30 Year Treasury – 3.80 (+0.05/1.33%)
Fed Target Rate – 0.25 (UNCHG)
U.S. Public Debt – 11,183,899,252,728.00 (+14,432,872,719.70/0.13%)
Baltic Dry Index (BDIY:IND) – 1682.00 (+204.00/13.80%)
So I did some writing this week! Wow! Spring has inspired me.
Meanwhile school is almost out for the summer. I’m hoping to work on my artificial economy stuff a lot, maybe get some resulting worth publishing. That would be cool… There’s still lots of work to do on that though.
My wife is getting bigger and our daughter is swishing around a lot. Apparently getting kicked in the bladder from the inside is a painful experience. I suppose I’ll never know about that though…
I’ve been thinking about the numbers I’m tracking a bit too. My plan is to drop the Wilshire 5000. I have to go to a special website to get it and I’m getting lazy. I will replace it with the S&P 500. I am also going to start tracking the VIX, which is a measure of volatility in the S&P. I think I am also going to drop the CSI 300 for the Shanghai Composite. CNBC reports that in the mornings when I watch and they don’t report the CSI.
On the commodity side of things I’ll be tracking the Rogers Index. No other changes in commodities. On the currency front, the Yuan is going. I’m also going to change my Dollar/Real to Real/Dollar because that is how it is typically quoted. The Real is the Brazilian currency in case you didn’t already know… I may add one or two more currencies. Not sure. The Singapore Dollar is of interest to me, as is the Australian Dollar, but we’ll see.
The Fed target rate is going to be dropped. It hardly ever changes, but rest assured I’ll let you know when it does. Everything else stays. At least that’s the story as it see it right now.
I hope to make all of these changes the first week of May. So there’s still time to make suggestions!!!
Alright, it’s really gotten late on me tonight. I think I’m going to have a glass of wine. Have a great weekend!