Quote of the week
“All you have to do win the Nobel Peace Prize is prolong/escalate a couple of wars?!? Seriously? The award is now officially meaningless.” – Adams Kokesh
“[W]e are dead sure that the people running America’s financial policies are jackasses.” – Bill Bonner
by Joh W. Truslow III
“Prior to 1913, Members of the Senate were chosen by state legislatures to be the agents of those governments in Washington, D.C., much like ambassadors today at the United Nations. The framers’ legislative design was subtle, but ingenious: While a Member of the House would represent the interests of the people as citizens, a Senator would represent the very different interests of the people’s sovereign state governments. This structure embodied the original meaning of the term ‘separation of powers.’ The legislature would domicile two distinct powers (the people and the states) to compete bill by bill for the direction and scope of the federal government.” more…
by James Howard Kunstler
“Something’s got to give in the remaining three months of 2009. My guess is that attention will shift overseas for a while. This will not be due, as many probably think, to a cynical effort by the government to divert attention from the financial fiasco, but because the intrinsic tensions in the Middle East are reaching the snapping point. Iran is being called out on its nuclear program. If, from the start, it had just maintained the need for electric generating power in the face of dwindling fossil fuel reserves, they might have gone unchallenged. As it happened, though, the elected leader of Iran made too many intemperate remarks about wiping other nations off the face of the earth, and this has only prompted the leaders of other nations to take his remarks at face value and presume that Iran’s nuclear program was devoted to armaments, not electric power generation.” more…
by Larken Rose
“Sorry for stating the bleeding obvious, but you can’t violate someone’s ‘rights’ unless you DO something to them. If you torture them, rob them, assault them, or murder them, you may very well be violating their ‘rights.’ In other words, a ‘right’ is a purely NEGATIVE concept: something that should NOT be forcibly interfered with by anyone else. ‘Rights’ aren’t a bunch of goodies that someone has to provide for you; they’re the things that no one should STOP you from doing yourself.” more…
by Laurence M. Vance
“The government’s War on Drugs, like its War on Poverty and its War on Terror, is a failure. It has clogged the judicial system, unnecessarily swelled prison populations, fostered violence, corrupted law enforcement, eroded civil liberties, and destroyed financial privacy. It has encouraged illegal searches and seizures, ruined countless lives, wasted hundreds of billions of taxpayer dollars, hindered legitimate pain treatment, and had no impact on the use or availability of most drugs in the United States.” more…
In the news…
- Montana Firearms law will go to court.
- Russia, China, France and the Arab world may (will?) buck the dollar for oil sales.
- 11% of Amerikans believe that the federal government should regulate the content of blogs.
- Obama is taking some heat over the weak and increasingly threatened status of the dollar.
- Gold is seeing new highs.
- After a rejection last year, Irish vote to back EU Lisbon Treaty.
- ACORN throws out Republican voter registrations.
- GOP takes Albuquerque.
- Have a look at recovery.org and find out about the boondoggles coming to your neighborhood!
- A post-mortem on “Cash 4 Clunkers”.
- Cyborg beetles.
- PATRIOT Act renewal bill passes Senate Judiciary Committee.
- Court rules that “first sale doctrine” applies to “licensed” software.
- Worldwide currency manipulation ensues over weakening dollar.
- California scales back its bond deal and raises rates.
- Geithner says its important for us to have a “strong dollar”, but talk is cheap.
- Al Gore says Obama’s Nobel Prize was well-deserved. Here’s some measured commentary on all of that.
- FTC imposes rules to regulate online speech. Newspapers and “traditional” journalists exempt.
- An 18th century definition of “general welfare”. You might be amazed.
And now the numbers…
DOW Jones Industrials – 9,864.94 (+377.27/3.98%)
S&P 500 – 1,071.49 (+46.28/4.51%)
VIX – 23.12 (-5.56/-19.39%)
CSI 300 (China) – 3,163.708 (+158.903/5.29%)
BSE 500 (India) – 6,436.07 (-120.22/-1.83%)
MICEX (Russia) – 1,308.14 (+132.31/11.25%)
BOVESPA (Brazil) – 6,4071.012 (+2,899.024/4.74%)
RICI – 2,997.21 (+118.17/4.10%)
Gold/oz – 1,048.60 (+44.30/4.41%)
Silver/oz – 17.69 (+1.46/9.00%)
Copper/lb – 283.80 (+15.65/5.84%)
Oil/bbl (Brent) – 70.00 (+1.93/2.84%)
Wheat/bu (CBT) – 468.00 (+26.75/6.06%)
Corn/bu – 362.25 (+28.75/8.62%)
EUR-USD – 1.4732 (+0.0156/1.07%)
USD-JPY – 89.785 (-0.02/-0.02%)
USD-BRL – 1.741 (-0.041/-2.30%)
3 Month Treasury – 0.06 (-0.03/-33.33%)
2 Year Treasury – 0.96 (+0.10/11.63%)
10 Year Treasury – 3.38 (+0.16/4.97%)
30 Year Treasury – 4.22 (+0.22/5.50%)
U.S. Public Debt (official) – 11,898,952,750,944.50 (-21,566,413,374.90/-0.18%)
Baltic Dry Index (BDIY:IND) – 2,695.00 (+338.00/14.34%)
Not much tonight. It’s sort of late actually.
I’ll say this though, TV season is back in full swing and I have fallen somewhat of a victim to it. I watch a few shows: Heroes, House, South Park, Smallville, Bleach, Broncos Football, and NFL Game Day Final. In any case this weeks South Park was absolutely freaking hilarious. Less commercials I suppose that’s about 6 or 7 hours or so a week.
Busy weekend on tap. Lots of reading to do. Looks like New England at Denver is going to be on CBS in the Detriot area. That’s nice… That’s Broncos two weeks in a row. My daughter and I are making a date of hanging out and watching Broncos football.
Definitely go back and read click on the last link of “in the news”. It’s short article. You’ll probably be surprised. It’s sort of scary to watch the meanings of words change over time. It allows for wild interpretations of historical documents. Those interpretations never seem to favor liberty though… Strange.
Like I said, not too much going on tonight and it’s late… Have a good weekend!