Quote of the week
“Jeffersonians always warned that if they day ever came when the federal government became the sole arbiter of the limits of its own powers, it would soon declare that there were, in fact, no limits on its powers. This of course is what the anti-Jeffersonians wanted – and what has happened.” – Thomas J. DiLorenzo
by Thomas J. DiLorenzo
“After spending a lifetime in politics John C. Calhoun (U.S. Senator, Vice President of the United States, Secretary of War) wrote his brilliant treatise, A Disquisition on Government, which was published posthumously shortly after his death in 1850. In it Calhoun warned that it is an error to believe that a written constitution alone is ‘sufficient, of itself, without the aid of any organism except such as is necessary to separate its several departments, and render them independent of each other to counteract the tendency of the numerical majority to oppression and abuse of power’ (p. 26). The separation of powers is fine as far as it goes, in other words, but it would never be a sufficient defense against governmental tyranny, said Calhoun.” more… [Highly recommended.]
by Byron King
“What’s happening in Greece is a dress rehearsal for the tragic drama that’ll play out in the U.S. over the next generation or so. Too much government, too many obligations and not enough money to pay for it. To use a Greek concept, it’s destined. Something has to give, and my bet is that sooner or later, the U.S. dollar will go Greek on us.” more…
by The Daily Bell
“So there is one big question, a modest one to be sure. What’s going to happen to the world economy when Japan and Germany have no one to export to and China’s bubble finally begins to implode. The communists running the place have big plans to keep the shell game going by harrying their own billion-plus population into buying the goods it was previously exporting. But we are not sure how many singing Barbies the Chinese will ultimately want to buy for themselves, nor how many cars or summer homes they will wish to splurge on.” more…
by Justin Raimondo
“Too many conservatives, averred Paul, take a piecemeal approach to liberty: they don’t understand that freedom is indivisible, and that you can’t have constitutional and strictly limited government while engaging in endless wars.
“Beck, in his CPAC speech, likened the Republican party to a substance-abuser: the first thing you’re supposed to do, he said, is recognize that you have a problem. Beck would do well to follow his own advice: he should go on television and admit that he and his fellow ‘movement’ conservatives are addicted to war, and warmongering.” more…
by Eric Odom
“This post is going to be blunt… supporting third party efforts in 2010, in most cases, would be a complete disaster for the Tea Party Movement.
“If you follow tea party news, you’ve probably seen the announcement that a third party “tea party” officially formed in Nevada and has its own candidate going on the ticket against Harry Reid. But as it turns out, the people behind this effort are strangers within the tea party movement. In fact, we haven’t been able to find anyone who knows them!” more…
- The Bain Report – coming to you from Monroe, Michigan.
- Two failed banks this week. That’s 22 on the year.
- Bill Bonner – A Propensity to Screw Up
- Financial Sense Editorials – Gold, the IMF, and Dirty Jokes – by Jeff Clark
Politics and Such
- Man bulldozes his house prior to foreclosure.
- Ron Paul wins CPAC straw poll. The author of the article thinks it’s irrelevant. I suppose we shall see.
- The full gory details of the CPAC straw poll.
- Highlights from the “healthcare summit”. Chris Dodd says it’s ironic that the state provides you a lawyer when charged with a crime, but not a doctor. Idiot.
And now the numbers…
DOW Jones Industrials – 10,325.26 (-77.09/-0.74%)
S&P 500 – 1,104.49 (-4.68/-0.42%)
VIX – 19.50 (-0.52/-2.60%)
CSI 300 (China) – 3,281.666 (+30.388/0.93%)
BSE 500 (India) – 6,518.38 (+60.29/0.93%)
MICEX (Russia) – 1,323.72 (-30.03/-2.22%)
BOVESPA (Brazil) – 66,503.273 (-1,094.157/-1.62%)
RICI – 3,178.87 (-16.55/-0.52%)
Gold/oz – 1,118.90 (-3.20/-0.29%)
Silver/oz – 16.521 (+0.082/0.50%)
Copper/lb – 328.40 (-9.50/-2.81%)
Oil/bbl (Brent) – 77.59 (-0.60/-0.77%)
Wheat/bu (CBT) – 519.25 (+15.25/3.03%)
Corn/bu – 389.00 (+17.25/4.64%)
EUR-USD – 1.3632 (+0.0019/0.14%)
USD-JPY – 88.967 (-2.553/-2.79%)
USD-BRL – 1.8076 (+0.0048/0.27%)
3 Month Treasury – 0.11 (+0.02/22.22%)
2 Year Treasury – 0.81 (-0.11/-11.96%)
10 Year Treasury – 3.61 (-0.16/-4.24%)
30 Year Treasury – 4.56 (-0.14/-2.98%)
U.S. Public Debt (official) – 12,433,661,592,275.40 (+32,212,925,467.10/0.26%)
Baltic Dry Index (BDIY:IND) – 2,738.00 (+24.00/0.88%)
Here’s a good one:
So anyway, it’s been a thin week as far as reading news goes. I had a midterm today for which I was studying like crazy all week. And it was brutal. I think I was able to take a hard swing at all but two of the problems, but on the other hand I only answered two or three completely with confidence. Others had a similar experience.
It’s nice to be finished with that though.
My daughter is doing well. Despite my “busy week” we actually spent a lot of good time together this week. She’s really enjoying playing with her blocks. Well it’s more like she enjoys picking them up and jamming them in her mouth, but she seems to have a good time of it. And then I stack ’em up and she knocks ’em down.
It’s also funny, after she eats I take her to the bathroom sink to wash her hands and she just loves having the running water over them. It’s great. The toweling off, on the other hand, is rather unpleasant for her.
So now I’m on “spring break”, but there’s over a foot of snow sitting on the ground and it looks like it’ll snow all weekend. In any case it’s a week off of school. Mostly time to get caught up and to relax with wife and daughter. I’ve got an episode of Smallville on the DVR I’m going to watch right now.
Have a great weekend!