Week in review

Quote of the week

“The only difference between the economic policies of the Democrats and Republicans in Washington, D.C., is Democrats want to tax-and-spend America into socialism for the benefit of the Welfare State, while Republicans want to borrow-and-spend America into socialism for the benefit of the Warfare State. Neither party wants to confine Washington, D.C., to the prescribed limits of the U.S. Constitution. And neither party in Washington, D.C., is willing to recognize the constitutional authority and autonomy of the States United.” – Chuck Baldwin

“The Great Default is coming. Count on it.” – Gary North

Economists’ Pro-Fed Petition Discredits Its Signers

by Robert Higgins

“A passel of bigwig economists has signed a petition urging Congress and the executive branch ‘to reaffirm their support for and defend the independence of the Federal Reserve System as a foundation of U.S. economic stability.’ In support of this defense of the Fed against those now challenging the secrecy of its undertakings and, in some cases, its very existence, these economists offer three arguments.” more…

Green Baptists Preach Salvation by Breaking Car Windows

by Tyler A. Watts

“Who could possibly claim that buying up drivable used cars at prices far in excess of their market value, for the express purpose of destroying them, will be beneficial for the economy or the planet? You guessed it: a combination of economy-saving politicians and earth-saving green activists are peddling the wonders of a new government program popularly known as ‘Cash for Clunkers.’ The Consumer Assistance Recycle and Save Act of 2009 has the two ostensible goals of jump-starting the stalled automobile industry and combating global warming (or climate change, or whatever they’re calling it these days) by replacing old, gas-guzzling smog machines with new, more fuel-efficient, cleaner cars.” more…

A Primary Care Provider’s Dilemma: The Decision to Opt Out of Medicare

by Dr. Alan Dappen

“We often are asked in our practice, ‘Why don’t you accept Medicare?’ The immediate answer is simple: we cannot afford to. We opted out of Medicare because the service won’t pay for phone consultations, won’t pay for email consultations, barely pays for an office visit, and does not pay nearly enough to cover a house call.” more…

Ginsburg’s Remark Stirs an Old Debate: Abortion, Eugenics and the Meaning of Margaret Sanger

by Carl M. Cannon

“There is a disquieting reason Ruth Bader Ginsburg’s defenders have been denying, however implausibly, the clear meaning of the Supreme Court justice’s recent remarks about the history of abortion law, and that reason is this: Historically, eugenics has always been a significant component of the intellectual underpinnings – and political impetus – of the movement to legalize abortion.” more…

In the news…

  • Comics.
  • Deployment revoked for an army reservist who questioned Obama’s citizenship.
  • ATF declares Tennesse Firearms Freedom Act null and void. Montana‘s too.
  • Despite stimulus state budgets are still strained. California appears to be sorting things out though.
  • HR1600 would dub Michael Jackson a “global humanitarian”.
  • China will use forex reserves to begin buying up the world’s natural resources.
  • Adam Kokesh will run as a Republican in New Mexico’s third district. You can donate to his campaign here.
  • First nuclear reactor in a decade could be online in 2012.
  • Monkey controls prosthetics with thought.
  • Prenatal screening could eliminate genetic defects.
  • Michigan GOP attempts to balance budget without tax increases.
  • Detroit’s government schools are near bankruptcy.
  • Senate Democrats refuse to eat their own healthcare plan dog food.
  • You’re (Probably) a Federal Criminal.
  • HR1207 has 276 co-sponsors. S604 has 17.
  • The state to state reciprocity bill for concealed carry failed in the Senate.

Videos

  • Daily Show clip on a brilliant investor. Just stick with it till the end. It’s hilarious. But don’t fast forward because I don’t think it’ll be very funny if you do.
  • Peter Schiff for Senate.

And now the numbers…

DOW Jones Industrials – 9,093.24 (+349.30/3.99%)
S&P 500 – 979.26 (+38.88/4.13%)
VIX – 23.09 (-1.25/-5.14%)
CSI 300 (China) – 3,667.556 (+147.747/4.20%)
BSE 500 (India) – 5,825.06 (+243.28/4.36%)
MICEX (Russia) – 1026.95 (+60.77/6.29%)
BOVESPA (Brazil) – 54,457.289 (+2,384.801/4.58%)
RICI – 2905.12 (+78.01/2.76%)
Gold/oz – 955.90 (+18.40/1.96%)
Silver/oz – 13.875 (+0.472/3.52%)
Copper/lb – 252.20 (+9.90/4.09%)
Oil/bbl (Brent) – 70.32 (+4.94/7.56%)
Wheat/bu (CBT) – 516.25 (-25.50/-4.71%)
Corn/bu – 327.25 (-4.25/-1.28%)
EUR-USD – 1.4202 (+0.01/0.71%)
USD-JPY – 94.792 (+0.597/0.63%)
USD-BRL – 1.8958 (-0.0303/-1.57%)
3 Month Treasury – 0.18 (+0.02/12.50%)
2 Year Treasury – 0.99 (UNCHG)
10 Year Treasury – 3.66 (+0.02/0.55%)
30 Year Treasury – 4.54 (UNCHG)
U.S. Public Debt (official) – 11,605,521,079,842.099 (+7,103,136,673.90/0.06%)
Baltic Dry Index (BDIY:IND) – 3345.00 (-197.00/-5.56%)

So Obama had a press conference about healthcare. Yeah, everyone knows that… And then there was the question about the police and his friend in Cambridge and that unleashed a firestorm of news about race in America. Now, if I was an evil genius, I might have foreseen that outcome and planted the question, and supplied the “embrassing” precaned answer to distract everyone from the debate over healthcare. If I was an uber-evil super genius I might have orchestrated the call to the Cambride police over the fake breakin. Just saying…

It could be that Rahm Emanuel is out-roving Karl Rove.

Best not to take our eyes off the healthcare ball, which could lead to the socialization of over 10% of the economy in the long run.

I suppose that’s the insight for the week. Not too much else going on. Dinner at Macaroni Grill, worked all week, reading book four of the Wheel of Time. The weather is nice, low 80s. The Campaign for Liberty Hog Roast this weekend in Washtenaw County. If you’re in the area and receiving this you’re probably already going, but just in case you’re not planning to go, you should.

Have a great weekend!

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