Quote of the week
“Politicians constantly cause problems, blame the problems they create on the free market, use the problems they create to grab more power and money that they use to reward special interests, and then go on to create even bigger problems, repeating the same mistakes.” – Jim Babka, DownsizeDC.org
by Robert Higgs
“In the 20th century, especially during the past seventy years, Americans have placed their faith in government — increasingly the federal government. Since Franklin Delano Roosevelt assumed the presidency in 1933, voluntary relief has taken a back seat to government assistance. Eventually, hardly any source of distress remained unattended by a government program. Old age, unemployment, illness, poverty, physical disability, loss of spousal support, childrearing need, workplace injury, consumer misfortune, foolish investment, borrowing blunder, traffic accident, environmental hazard, and loss from flood, fire, or hurricane all became subject to government succor.” more…
by Rob Sandwell
“Let’s take away the word ‘health care’ and replace it with the word ‘pizza.’ “What if your government declared that everyone had a right to a pizza, and that those who could not afford a pizza would have their pizza paid for by those who could. Let’s say that further, the government set the cost on pizza so that private pizza providers couldn’t make unfair profits off of the sale of pizza, which is after all every man’s right. Let’s also add that the government set a limit on the amount of pizza that each man can have at any one time, so that we can make sure that there is enough pizza for everyone.” more…
by Bill Bonner
“Friedman’s work itself was flawed in the same way. The general principle was correct – that the government that governs the markets least governs best. But when he got into the mechanics of ‘monetarism,’ he got lost. He believed that if the Fed kept its eye on the money supply; the free market would take care of everything else. But the free market didn’t take of everything, at least not as people hoped. Economist Murray Rothbard explained why in 1971. You cannot expect the free market to function perfectly if you leave in the hands of the government the power to control money. Either markets are free or they aren’t, was Rothbard’s point. If they’re not free, you can’t blame freedom when they fail.” more…
by Gary Wolf
“Besides offering nearly all of its features for free, it scorns advertising, refuses investment, ignores design, and does not innovate. Ordinarily, a company that showed such complete disdain for the normal rules of business would be vulnerable to competition, but craigslist has no serious rivals. The glory of the site is its size and its price. But seen from another angle, craigslist is one of the strangest monopolies in history, where customers are locked in by fees set at zero and where the ambiance of neglect is not a way to extract more profit but the expression of a worldview.” more…
by Guy Smith
“Teddy’s politics and positions have largely been an affront to those who lust for liberty. The media made great hay today of his support for 1960’s era civil rights legislation, though any decent human being would have as well. No, all Ted’s other legislation was designed to rob the average American of his wealth (Teddy’s money is sheltered in offshore trusts) restrict rights (Teddy was a slave to the gun control industry) and limit free choice in many fields (like where to purchase one’s health insurance).” more…
In the news…
- The Live Free or Die Rally was last weekend in New Hampshire.
- What do Facebook quizzes know about you?
- Organ regeneration, which has been accomplished for a tooth in a mouse, could be a reality in humans one day.
- DIY tobacco growing on the rise.
- National debt estimated to rise $9 trillion over next decade.
- Senate Majority Leader Harry Reid will see a tough 2010 election that may send him the way of Tom Daschle.
- Foreclosures haunt the suburbran “prime” market.
- The plan for mass vacination against H1N1 (swine flue) is coming together.
- Only one crime was solved by each 1,000 CCTV cameras in London last year.
- Court orders The Fed to disclose the recepients of emergency loan funds.
- First United States gaming, texting addiction center opens its doors.
- DOJ to investigate CIA.
- Being overweight correlated to brain mass loss in the elderly.
- Ben Bernanke has fallen victim to identity theft.
- E-Health system to help combat swine flu outbreak through massive information sharing.
- Depression linked with analytical thought, suggests that best therapies could be “thinking through” your problems.
- Boeing Dreamliner (787) to fly in 2009. First delivery expected Q4 2010.
- Ted Nugent on being free, courtesy of the Austin PBS.
- The Government Can – a song and video to the tune of Candy Man. Need a laugh? Watch this!
My two cents (on health insurance and such)
“By the time I turned 16 years old I had learned what is still probably one of the most important lessons of my life – the middle man always gets his cut. He might increase the price, he might dilute the quality, or he might lessen the quantity, but make no mistake he gets his. And that’s okay, he’s providing a service, connecting the person with the demand to the person with the supply. It’s a vital role, but it’s best to cut him out if possible.” more…
And now the numbers…
DOW Jones Industrials – 9,544.20 (+38.24/0.40%)
S&P 500 – 1,028.93 (+2.80/0.27%)
VIX – 24.76 (-0.25/-1.00%)
CSI 300 (China) – 3,046.781 (-156.843/-4.90%)
BSE 500 (India) – 6,094.67 (+272.15/4.67%)
MICEX (Russia) – 1,111.33 (+33.68/3.13%)
BOVESPA (Brazil) – 57,700.57 (-28.02/-0.05%)
RICI – 2,986.80 (+1.10/0.04%)
Gold/oz – 958.80 (+4.10/0.43%)
Silver/oz – 14.815 (+0.616/4.34%)
Copper/lb – 295.05 (+5.65/1.95%)
Oil/bbl (Brent) – 72.79 (-1.40/-1.89%)
Wheat/bu (CBT) – 495.25 (+8.00/1.64%)
Corn/bu – 329.00 (+2.75/0.84%)
EUR-USD – 1.4303 (-0.0023/-0.16%)
USD-JPY – 93.602 (-0.78/-0.83%)
USD-BRL – 1.8812 (+0.0512/2.80%)
3 Month Treasury – 0.14 (-0.02/-12.50%)
2 Year Treasury – 1.02 (-0.07/-6.42%)
10 Year Treasury – 3.45 (-0.11/-3.09%)
30 Year Treasury – 4.20 (-0.17/-3.89%)
U.S. Public Debt (official) – 11,725,477,836,090.80 (+4,649,280,710.60/0.04%)
Baltic Dry Index (BDIY:IND) – 2,421.00 (-47.00/-1.90%)
I wrote a “feature” today. Yay!
We’ve been growing basil this summer. Lots of it. I made pesto last night. Yummy stuff. The previous link is to the recipe.
Baby Erin is changing. She’s so cute. We took her to the store today. That was an adventure. There’s a lot of overhead in taking a baby around with you. That probably calls for leaving the house less often.
Please consider joining DownsizeDC. It’s free and being a member will give you a steady stream of information and tools related to fighting big government. I think their approach makes a lot of sense.
Wonder when the suckers rally is going to be end…
So it’s late and I’m getting a little tired. It was chilly today 62 degrees. Fall is almost upon us. Soak up the warm weekends while you can!