Quote of the week
“Congress has done it again… yet another unreadable, trillion-dollar piece of legislation is slithering its way through the House of Representatives. The House’s new health care reform bill, championed by Speaker Pelosi, emerged yesterday at 1,990 pages, with a CBO estimated cost of $1.05 trillion.” – Addison Wiggin & Ian Mathias
by Janet Albrechtsen
“We can only hope that world leaders will do nothing more than enjoy a pleasant bicycle ride around the charming streets of Copenhagen come December. For if they actually manage to wring out an agreement based on the current draft text of the Copenhagen climate-change treaty, the world is in for some nasty surprises. Draft text, you say? If you haven’t heard about it, that’s because none of our otherwise talkative political leaders have bothered to tell us what the drafters have already cobbled together for leaders to consider. And neither have the media.” more… [Yikes!]
by Investor’s Business Daily
“With less than two months to go before the big Copenhagen Conference on global warming, two major nations have said ‘no thanks’ to the no-growth agenda. For that reason alone, so should we.” more…
by Ron Paul
“It is imperative that the American people know what the Fed is up to, how much money it loans to banks and what types of agreements it enters into with foreign banks and governments. Just about all of this information is exempt from audit or oversight. The Fed’s actions directly affect the value of the dollar, which is coming under increasing pressure from our foreign creditors. If we do not wish to see a complete collapse of the dollar, the Fed needs to be subject to a strict audit of its actions, if not an outright abolition of its charter.” more…
by Sue A. Blevins
“When it comes to health care legislation, the devil is in the details. Despite what politicians and interest groups are saying, details in current bills compromise both patient choice and medical privacy.” more…
by Jeff Wright
“Many (if not most) people are fooled by the false comparisons of efficient and harmonious colonies operating analogous to ant and bee colonies. The analogy is completely false. Just a short study of ant or bee colonies reveals that they do not operate as top-down imposed organizations. Instead, they operate as distributive, cooperative arrangements between the individuals in the colony. They are successful because the individuals act in mutually cooperative ways with the other members, not in some top-down abstract order.” more…
by State Representative Susan Lynn
“There are clear limits to the power of the federal government and clear realms of power for the states. However, the simple and clear expression of purpose, to secure our natural rights, has evolved into the modern expectation that the national government has an obligation to ensure our life, to create our liberty, and fund our pursuit of happiness.
“The national government has become a complex system of programs whose purposes lie outside of the responsibilities of the enumerated powers and of securing our natural rights; programs that benefit some while others must pay.” more…
News and what not…
- Mandatory H1N1 vaccines for New York healthcare workers suspended, but not on principle.
- Indian/US military on joint training exercise.
- Everyone should know about the Bricker Amendment.
- The government will buy you a cell phone.
- NPR on the Faux News/White House tiff.
- Doctors on strike – maybe.
- EFF’s Digital Millennium Copyright Act take down Wall of Shame.
- Sequoia voting systems will release the source code for its new optical scan voting system.
- Report on bank(st)er protest in Chicago.
- Schwarzenegger vetoes in style.
- Would be Honduran dictator returned to power. Here’s some useful background on all of that.
- Here’s a version of the Bill of Rights that they are teaching at one government school. Wow!
- Here’s the obligatory “GDP expands 3.5%” article.
- US creating new military bases in Romania and Bulgaria.
And now the numbers…
DOW Jones Industrials – 9,712.73 (-259.45/-2.60%)
S&P 500 – 1,036.19 (-43.41/-4.02%)
VIX – 30.69 (+8.42/37.81%)
CSI 300 (China) – 3,280.372 (-132.88/-3.89%)
BSE 500 (India) – 6,142.43 (-404.32/-6.18%)
MICEX (Russia) – 1,237.18 (-127.91/-9.37%)
BOVESPA (Brazil) – 61,545.50 (-3,513.34/-5.40%)
RICI – 3,117.86 (-129.83/-4.00%)
Gold/oz – 1,040.40 (-16.00/-1.51%)
Silver/oz – 16.255 (-1.468/-8.28%)
Copper/lb – 295.55 (-7.90/-2.60%)
Oil/bbl (Brent) – 75.20 (-3.72/-4.71%)
Wheat/bu (CBT) – 494.25 (-53.50/-9.77%)
Corn/bu – 366.00 (-31.75/-7.98%)
EUR-USD – 1.4719 (-0.0289/-1.93%)
USD-JPY – 90.09 (-1.97/-2.14%)
USD-BRL – 1.7612 (+0.0439/2.56%)
3 Month Treasury – 0.04 (-0.01/-20.00%)
2 Year Treasury – 0.89 (-0.11/-11.00%)
10 Year Treasury – 3.38 (-0.11/-3.15%)
30 Year Treasury – 4.23 (-0.06/-1.40%)
U.S. Public Debt (official) – 11,868,457,477,911.90 (-28,350,766,658.40/-0.24%)
Baltic Dry Index (BDIY:IND) – 3,103.00 (+60.00/1.97%)
I have been thinking about including a new section, something like “The March of Folly”. Basically the section would be dedicated to highlighting the folly of our so-called leaders. Would anyone be interested? Have any suggestions as to the name of said section? Any feedback would be appreciated. In fact feedback is always appreciated.
Got a note tonight about how we may be seeing some inflation in agricultural products. Given all of the counterfeiting the Fed has been doing in the last year or so it makes sense.
Mainly because there was a Ron Paul editorial there (see above), I was looking at CNN this week. Anyway I saw this feature on their site. It’s called CNN News Pulse. It shows the most popular stories of the day. Wow! I just don’t know what to say. If those are really the most popular stories then we are surrounded by idiots, or rather we are idiots. How sad. People care more about balloon boy than the crooks who are turning them into serfs.
Okay, but remember what Samuel Adams said? “It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people’s minds.” That puts things in perspective a bit. Still I am embarrassed for my fellow Amerikans when I see that list of top stories. Of course you have to ask yourself what the rogues in CNN’s marketing department might be doing to drive people to these stories. Ahh, but that sounds conspiratorial so we’ll leave it at that.
Adam Kokesh is still running for Congress in New Mexico’s northern district. I’m not sure what the race looks like, whether he has a primary challenger, whether the first-term incumbent is vulnerable. Maybe someone out there knows… Anyway he could use your help – financial or otherwise.
The GDP number was put out this week. We grew 3.5% in Q3. Funny thing, on Wednesday the day before the GDP number printed there was a story on CNBC that said that Goldman Sach’s had revised its estimate down from 3.0% to 2.7%. The CNBC staff then said how good of a track record GS had on prediction recently. Wednesday stocks closed down. Then Thursday the number prints at 3.5%. Hmmmm. Goldman Sachs wouldn’t manipulate the market would it? Ahh, more conspiracy. Or, is it just a trivial application of logic to the real world? Poor old logic, too bad more people don’t call you their friend.
That’s it for tonight. Happy Halloween! It’s my daughter’s first Halloween! She’s going to be a scarecrow. How cool is that?