Quote of the week
“To recap then, more than half the population is opposing massive, unconstitutional government intervention in health care only because profit-making health insurers told us to. And Obama supporters are supposed to rat out their friends and family for opposing this unprecedented Socialist power grab. Witness the Democrats’ version of America.” – The Patriot Post
by Gary North
“For the first time since 1914, there is a public debate in Congress over the Federal Reserve’s power. Never before has a majority of the House of Representatives called for what should always have existed: Congressional scrutiny over the FED’s money. Bernanke says that Ron Paul’s bill to audit the Federal Reserve is a bill to audit Federal Reserve policy. Yet the bill says nothing about auditing policy. So, what is he talking about?” more…
by Paul A. Cleveland
“[I]t seems that people are basically unwilling to face a rather obvious economic truth: In this world there are only a few ways for each of us to obtain the things that we desire. We can produce the things ourselves starting from scratch, produce something valued by others and use that in trade for what we want, take the things from others by force or fraud, or receive them as gifts of charity. Only the first two of these are economic. Theft and charity cannot be universalized, because each can be achieved only by the prior production of others. It is this fact that led H.L. Mencken to note in his day that elections in America were nothing more than advanced auctions on stolen property.” more…
by Charles Hugh Smith
“There is a solution so simple and so radical that it is ‘impossible’ (and of course you’re reading it here): shut down insurance and all government entitlements, and return to the ‘golden era’ of the 1950s when everyone paid cash for healthcare. Here are the costs of childbirth as of 1952 at one of the finest hospitals on the West Coast, The Santa Monica Hospital:” more…
by Thomas Firey
“[T]he problem with a ‘systemic risk monitor:’ Such a monitor would have to know when everyone is wrong — including financial experts and government analysts. And the monitor would need the power to force everyone to act contrary to their beliefs and instead obey the monitor’s judgment — and not demand (successfully) that the monitor be replaced because his judgment is “clearly” flawed.” more…
by Peter Schiff
“The recently passed ‘cash for clunkers’ program (currently on-hold, as it ran out of funding in one week) is a perfect example of how government policy can make the economy worse. By incentivizing Americans to destroy fully paid-for cars so they can go deeper into debt buying brand new ones, the government weakens an already crippled economy. The last thing we want to do is subsidize Americans to go deeper into debt by buying more stuff. Don’t they realize that is precisely the behavior that got us into this mess?” more…
In the news…
- If you can’t argue the merits call your opponent a racist.
- Pelosi calls those angry about the healthcare boondoggle “astroturfers”.
- Government tax receipts are falling. Will the parasites ease up or sink in another set of fangs?
- A new microbe strain can make electricity.
- Iraq will impose restrictions on internet use for its citizens.
- Russian subs patrol off east coast.
- Maintaining Afghan army will require $20 billion. Afghanistan can’t pay.
- New York nurses oppose mandatory immunization.
- About half of US mortgages estimated to be under water by 2011.
- Unemployment has reversed course and now sits at 9.4%. Here’s some analysis.
- Sotomayor is confirmed to SCOTUS.
- Fannie Mae loses $14.8 billion, requests $10.7 billiion from Treasury.
- In case you wanted to snitch on your friends and collegaues for spreading falsehoods about Obamacare, you can do so here.
- Denial of service attack on a Georgian (the country) blogger takes out Twitter, hampers Facebook.
- Peter Schiff on his Senate run.
- Super fast robot hands dribble balls, throw balls, catch balls, twirl sticks, play baseball. Wow!
My two cents
“I showed up to the event about 20 mintues early and there was a line forming outside. I was probably about 20 or 30 people or so back. We were informed that the building was full and we were not going to be allowed in. I started talking to the folks around me, most of whom opposed HR3200 (aka the Healthcare Bill). From there we got onto other topics like the corrupt system of central banking that we are saddled with and which is well on its way to enslaving us.” more…
And now the numbers…
DOW Jones Industrials – 9,370.07 (+198.46/2.16%)
S&P 500 – 1,010.48 (+23.00/2.33%)
VIX – 24.76 (-1.16/-4.48%)
CSI 300 (China) – 3,555.095 (-179.527/-4.81%)
BSE 500 (India) – 5,759.16 (-181.22/-3.05%)
MICEX (Russia) – 1,115.41 (+62.11/5.90%)
BOVESPA (Brazil) – 56,329.512 (+1,563.793/2.86%)
RICI – 3,037.65 (+61.61/2.07%)
Gold/oz – 959.50 (+3.70/0.39%)
Silver/oz – 14.668 (+0.728/5.22%)
Copper/lb – 278.55 (+16.20/6.17%)
Oil/bbl (Brent) – 73.59 (+1.89/2.64%)
Wheat/bu (CBT) – 516.75 (-11.50/-2.18%)
Corn/bu – 326.50 (-23.00/-6.58%)
EUR-USD – 1.4183 (-0.0074/-0.52%)
USD-JPY – 97.57 (+2.888/3.05%)
USD-BRL – 1.8204 (-0.0447/-2.40%)
3 Month Treasury – 0.17 (-0.01/-5.56%)
2 Year Treasury – 1.30 (+0.19/17.12%)
10 Year Treasury – 3.85 (+0.37/10.63%)
30 Year Treasury – 4.60 (+0.30/6.98%)
U.S. Public Debt (official) – 11,660,142,454,204.00 (+78,940,662,921.90/0.68%)
Baltic Dry Index (BDIY:IND) – 2,772.00 (-578.00/-17.25%)
The Peter Schiff money bomb was today. He’s still about $50k from his goal of $750k for the day, so why not get over to his site and help out a bit?
I wrote a whole thing about my trip to John Dingell’s townhall dog and pony show on Thursday so I’m going to keep this kinda short. Plus it’s late and I want to get back to my book (The Lord of Chaos) and I bought a fifth of crown and its calling me… So.
I think I’m going shooting tomorrow. That’s exciting. What else? Not much I suppose. Enjoy your weekend and get out to one of those townhalls and meet some people and give your Represenative some well-deserved hell! Be the mob! Heh. And then get involved in a local race and let’s all work on throwing some of these clowns out of office in 2010.