Quote of the week
“A Big Government Republican politician, Scott Brown, saw the massive public opposition to the healthcare bill, and decided to pander to it. He did this in spite of his own long history of supporting Big Government schemes, including the health insurance mandates inflicted on the people of Massachusetts by Republican Mitt Romney.” – Jim Babka, DownsizeDC.org
by James Wilson
“First there were Tea Parties. They were considered a passing fancy. Then, at Town Hall meetings Members of Congress returned to their districts during recess and got socked in the face. Constituents were angry. They hated the healthcare bill, and all the spending and borrowing. The politicians felt the PRESSURE, and the potential Republican defectors flip-flopped, renewing their opposition to the healthcare bill. But that wasn’t the end of it.” more…
by Mark Alexander
“On Wednesday, 27 January, Barack Hussein Obama will deliver his first ‘State of the Union’ speech as president, a self evaluation of his first year’s achievements.
“Sprinkled between his infamous ‘let me be clear’ or ‘make no mistake’ introduction to his lies, he will, characteristically, attempt to spin a plethora of failures into something including these phony fallback phrases: back from the brink; signs of recovery; restored our reputation; achieved some successes; more work yet to do; fiscal restraint; greed on Wall Street; affordable health care; relief for working families; job creation.” more…
by Dan O’Connor
“The presidency of Andrew Jackson (1829–1837) was one of the most controversial and transcendent periods in US history. The two major debates that reached their peak during his time in office concerned secession and the central bank (then the Second Bank of the United States). Although Jeffersonians and libertarians generally disagree with Jackson’s stance on secession, Jackson did follow in Jefferson’s footsteps by bringing down the Bank.” more…
by Ron Holland
“Although the historical government solution to unsustainable government debt loads has always been the destruction of the debts by currency depreciation and eventual hyperinflation, there is always an intermediate step used to buy more time for the politicians in power. This action, usually sidestepped and downplayed by the establishment historians paid to hide the real facts of history is wealth confiscation. Napoleon had it right when he stated, ‘History is a state of lies agreed upon.’
“The largest source of liquid private wealth remaining in the United States are the $15 trillion in private retirement funds and the ultimate ownership, control and future of these funds have already been compromised and exchanged for the favorable tax treatment of private retirement plans. Congress writes the laws, so they can tax, penalize, hold your funds hostage and although they’d never use the word, “confiscate” your assets at their discretion.” more…
- The Bain Report – Articles that Affect You and Your Family
- Bill Bonner – The Last Shall Be First
- Financial Sense Editorials – Dude, Is That Gold Bar for Real? – by Doug Hornig
- Five failed banks today. That makes nine on the year. Charter Bank of New Mexico is among the five.
Politics and Such
- US blocking Costa Rican sugar imports until they pass monopolistic intellectual property laws.
- Deb Medina is polling 12% in Texas gubernatorial race. Here’s a bit on her presence in the race.
- The “drug war” may be winding down in Latin America.
- Euro rupture could occur over debt crisis in Greece.
- San Diego police arrest a Jets fan for being a Jets fan. Includes video. Of course at the point he resisted the idiotic assault on his person, well then they could grab him for resisting arrest. Only in Amerika my friends. Only in Amerika.
- Supreme Court overturns laws that prohibit corporations and unions from contributing to political campaigns. Here’s some commentary from the 10th Amendment Center on that.
- The Day Obama Care Died (music video, 3:19)
- Nice graph of returns on various commodities over the last decade.
- Scott Brown on healthcare – after the election. (video, 0:31) The money quote: “it’s important to offer some sort of basic plan”.
“This is not the kind of Republican that makes a free-marketer proud. Rather Brown’s stances epitomize the neo-conservative worldview – big government at home, intervention abroad, wrapped in a do nothing cloak of social conservatism. Nonetheless, considering the circumstances, I’m elated to have him.” more…
And now the numbers…
DOW Jones Industrials – 10,172.98 (-436.67/-4.12%)
S&P 500 – 1,091.76 (-44.27/-3.90%)
VIX – 27.31 (+9.40/52.48%)
CSI 300 (China) – 3,366.197 (-116.541/-3.35%)
BSE 500 (India) – 6,730.91 (-274.36/-3.92%)
MICEX (Russia) – 1,410.38 (-42.29/-2.91%)
BOVESPA (Brazil) – 66,220.039 (-2,758.258/-4.00%)
RICI – 3,125.15 (-103.74/-3.21%)
Gold/oz – 1,092.00 (-38.50/-3.41%)
Silver/oz – 16.932 (-1.495/-8.11%)
Copper/lb – 334.70 (-1.90/-0.56%)
Oil/bbl (Brent) – 72.83 (-4.28/-5.55%)
Wheat/bu (CBT) – 498.50 (-13.50/-2.64%)
Corn/bu – 364.75 (-6.75/-1.82%)
EUR-USD – 1.4139 (-0.0248/-1.72%)
USD-JPY – 89.824 (-0.946/-1.04%)
USD-BRL – 1.8247 (+0.0524/2.96%)
3 Month Treasury – 0.04 (-0.01/-20.00%)
2 Year Treasury – 0.79 (-0.07/-8.14%)
10 Year Treasury – 3.61 (-0.06/-1.63%)
30 Year Treasury – 4.53 (-0.05/-1.09%)
U.S. Public Debt (official) – 12,300,163,248,044.70 (+41,618,219,129.50/0.34%)
Baltic Dry Index (BDIY:IND) – 3,204.00 (-95.00/-2.88%)
So how about the color? I think I like it. Actually I might just put the numbers in a table soon. I think that would make things easier to read.
I did wrote a piece earlier this week on Scott Brown. See My Two Cents above.
Nothing much going on this weekend. Lots of homework. Linear algebra and statistics. Fun stuff actually, but it looks like that’ll probably be a chunk of my time.
Actually, one very cool thing will happen this weekend. My daughter is going to have her first real food. If you can call rice cereal “real food”. In any case that should be fun. My wife is setting me up to be the camera man, since my sister got us this handy little video camera for Christmas.
I had to bathe my dogs today. It was thawing out a bit outside and they got ridiculously muddy. Who would have thought a doberman could have so much dirt in his fur. There must have been more dirt than hair.
Well that’s it for me tonight. Have a great weekend and soak up those championship games on Sunday!