Week in review

Quote of the week

“Barack Obama jetted from Copenhagen to Oslo Thursday to accept his Nobel Peace Prize. We have duly noted how little Obama has done to deserve the Prize, but, to his credit, he followed suit in his acceptance speech. We would give Obama credit for what seemed like humility — ‘Compared to some of the giants of history who have received this prize … my accomplishments are slight’ — but then again, the Prize has been given to Jimmy Carter, Al Gore and terrorist Yasser Arafat. Are these the ‘giants of history’ Obama was referring to? Besides, we hope his accomplishments remain slight.” – The Patriot Post

A Note on the Supposed Independence of the Fed

by Jörg Guido Hülsmann

“The Fed has had one success, and we must acknowledge this: it has spread its budget widely enough throughout the economics profession (both by outright hiring and also through numerous conferences, scholarships and consultancies) that many macroeconomists have succumbed to its blandishments. If there is any ‘independence’ that is needed, it is intellectual independence from the Fed.” more…

Who Wants War?

by Ron Paul

“Eisenhower warned of the increasing power and influence of the military industrial complex and it seems his worst fears have come true. He believed in a strong national defense, as do I, but warned that the building up of permanent military and weapons industries could prove dangerous if their influence got out of hand. After all, if you make your money on war, peace does you no good. With trillions of dollars at stake, there is tremendous incentive to keep the decision makers fearful of every threat in the world, real or imagined, present or future, no matter how ridiculous and far-fetched. The Bush Doctrine demonstrates how very successful the war lobby was philosophically with the last administration. And they are succeeding just as well with this one, in spite of having the so-called ‘peace candidate’ in office.” more…

EPA Calls Greenhouse Gases a Public Threat

by Jeffrey Ball, Charles Forelle, and Ian Talley

“The Environmental Protection Agency said greenhouse gases are a danger to public health and welfare in a decision that could eventually lead to new emissions regulations.” more…


New and stuff

  • 79% of the people support an audit of the Federal Reserve
  • On a generic congressional ballot: 36% support Democrats, 23% Tea Party, 18% Republicans.
  • Copenhagen climate summit: 1,200 limos, 140 private planes and caviar wedges\
  • Israel will have a biometric database that holds the finger prints and facial scans of all of its citizens, err subjects
  • EFF’s report on Facebook’s new privacy settings.
  • A leaked document that could form the basis of any agreement to come out of Copenhagen has folks, especially developing nations, in a tizzy.
  • Gold supply is short.
  • Congressional Panel okays a bill that would attempt to force a playoff system into the NCAA Bowl Championship Series (BCS). No, this is not a joke.
  • The art work of Audrey Kawasaki.
  • The number of federal workers earning six-figure salaries has exploded during the recession.


  • Check out the ICON Personal aircraft.
  • Mobile Firefox is coming.
  • So is artificial meat. Pork actually. The video in the post (Daily Show out take) is much better than the self-righteous post itself. Seriously, how many people have an “ethical problem” with eating an animal?
  • Got super strength? Not quite yet, but soon.


  • Hide the decline (of global temperature). It’s a parody music video. Fun times!
  • Stephen Colbert on the Fed. Includes an interview with Vermont’s Senator Bernie Sanders.

And now the numbers…

DOW Jones Industrials – 10,471.50 (+82.60/0.80%)
S&P 500 – 1,106.41 (+0.43/0.04%)
VIX – 21.59 (+0.34/1.60%)
CSI 300 (China) – 3,575.02 (-68.471/-1.88%)
BSE 500 (India) – 6,714.66 (-5.60/-0.08%)
MICEX (Russia) – 1,301.33 (-41.25/-3.07%)
BOVESPA (Brazil) – 69,267.469 (+1,663.946/2.46%)
RICI – 3,114.00 (-92.22/-2.88%)
Gold/oz – 1,119.90 (-49.60/-4.24%)
Silver/oz – 17.09 (-1.43/-7.72%)
Copper/lb – 313.30 (-10.45/-3.23%)
Oil/bbl (Brent) – 71.88 (-5.64/-7.28%)
Wheat/bu (CBT) – 537.50 (-20.50/-3.67%)
Corn/bu – 404.50 (+16.00/4.12%)
EUR-USD – 1.4615 (-0.0243/-1.64%)
USD-JPY – 89.103 (-1.457/-1.61%)
USD-BRL – 1.7585 (+0.0269/1.55%)
3 Month Treasury – 0.02 (-0.02/-50.00%)
2 Year Treasury – 0.80 (-0.03/-3.61%)
10 Year Treasury – 3.55 (+0.08/2.31%)
30 Year Treasury – 4.50 (+0.11/2.51%)
U.S. Public Debt (official) – 12,092,672,900,402.30 (+5,311,225,387.50/0.04%)
Baltic Dry Index (BDIY:IND) – 3,579.00 (-528.00/-12.86%)

Busy week. School is almost out for the semester. But there is still a ways to go. Two more papers to write to be exact… Then only one year till graduation, and getting back to real life again.

Continuing on the personal stuff, my daughter is doing very good. She’s such a happy baby and she’s babbling and gooing and all kinds of stuff. She’s really found her voice. I think she’ll get to wear her Christmas dress tomorrow.

Well, nothing else for tonight. Have a nice weekend.

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