Quote of the week
“Watch money. Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion–when you see that in order to produce, you need to obtain permission from men who produce nothing–when you see that money is flowing to those who deal, not in goods, but in favors–when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you–when you see corruption being rewarded and honesty becoming a self-sacrifice–you may know that your society is doomed.” – Ayn Rand
“[T]he banks borrow from the Fed. But with such low interest rates the banks don’t lend the money to the private sector; they lend it back to the US Treasury. The public sector is flush but the private economy remains locked in irons.” – Bill Bonner
by Richard Eskow
“We can’t know exactly what’s hidden in the Federal Reserve’s shadow until we have that audit but, based on the intransigence of certain politicians, here’s an educated guess: an audit might well confirm that a lot of institutions really are too big to fail, and need to be broken up now.” more…
by Ivan Eland
“In response to the subway bombings in Russia, the metro subway system in Washington, D.C., increased its security—with transit police and bomb-sniffing canines conducting sweeps through subway stations and railroad yards. Yet the subway bombers in Russia are likely Chechens or other peoples in the North Caucuses seeking independence from Russia. Although the Chechen rebels have relied on funding from al-Qaeda and Doku Umarov, the Chechen insurgent leader, has several al-Qaeda emissaries on his staff, the Chechens are attacking Russia because the Russians continue a brutal suppression of Chechen aspirations for independence.” more…
by Don Stott
“America has a cancer which has been eating at it for 77 years. Literally. The cancer America has, is the same cancer that killed the Roman Empire, and others as well. The cancer is government growth, and all that goes with it. When FDR started his Social Security system, many warned against it, but no heed was paid. After all, it would only cost 1% of rich people’s paychecks, and the old would be secure. We were a rich nation, we should care for our elderly, and make their old age free from worry. When the first public housing was built in 1937, the minimum wage installed in 1938, or various forms of welfare instituted, a few shouted ‘fire,’ but were ignored. Republicans and Democrats both voted for all of FDR’s schemes. As years passed, wars fought, and more and more ‘programs’ approved, voted upon, and signed into law, they were just like an undetected cancer or a home being eaten from within by termites.” more…
by John Papola
“This shortfall, should it come as projected, will be the first time that benefits paid exceeds the taxes collected since 1983. I find the timing of this article troubling in that this information does put the recently passed Healthcare ‘Reform’ entitlement in stark context of our national bankruptcy. Had this projected shortfall been known in advance of the vote on healthcare (and perhaps it was, though certainly not touted), there may have been more prudence about committing to another bound-to-go-bust program.” more…
2010: A Race Odyssey — Disproving a Negative for Cash Prizes or, How the Civil Rights Movement Jumped the Shark
by Andrew Breitbart
“[T]he Democrats need a racist Tea Party moment. To stop it in its tracks. That’s why on Saturday they used the Congressional Black Caucus to try to manufacture the false appearance of one. And when they didn’t get it, they did what they always do: they lied.
“Haven’t we had enough? Are we going to allow the left to use its despicable acts of lies and intimidation to shut up legitimate dissent on a subject that has nothing to do with race? Are we going to allow the professional race hustlers like Jesse Jackson and Al Sharpton to continue their shakedown rackets?” more…
- Four failed banks this week.
- Bill Bonner – Down to the Sea Again
- Financial Sense Editorials – Bond Market: “It’s Safer to Lend to Buffett than Obama” – by Chris Wood
- The Bain Report.
Politics and such
- Michigan militia helps Bridgewater township with search and rescue efforts.
- Rick Olson, a candidate for Michigan State House, District 55 takes a principled stand and opposes a federal handout for an expansion of the Ann Arbor airport.
- The Jobs Bill, H.R.2847, aka the HIRE Act, which was signed into law recently, places a 30% tax on private transfers of capital to foreign banks that have not been approved by the United State government. And foreign banks only get approved if they’re going to do the Fed’s dirty work. Clearly banking privacy has not existed for some time, (think PATRIOT Act), but this is another hard blow against it. Some have called this a “capital control”, but this is just a step toward true capital controls. A rational assessment of this can be found here.
- The Tea Party Express is coming to a city near you.
- BigPharma is a big winner in the healthcare bill. Big government = corporate welfare. The two are inexorably connected.
- The Federal Reserve has finally revealed the role in played in buying up the assets of Bear Stearns two years ago.
- EFF joins “Digital Due Process” coalition. The idea is to stop the crazy electronic tracking and digital snooping.
- FDA approves implanted RFID chip for humans.
- That should go nice with your biometric worker bee card. Do you feel like a damn head of cattle yet?!?!
- Federal judge finds NSA wiretaps were illegal. Obama was against them before taking the White House, but his administration has since defended the use of such wiretaps.
- Congressman warns that overpopulation of Guam (the island) could cause it to capsize. Here is a sentence he has written defending his statement. This was just too funny to pass up…
- Global warming activist freezes to death in Antarctica.
- Bank robbery via tunnel in France.
- Video of AA-12 automatic shotgun. (Up to 32 rounds, low recoil, 175 meter capable mini-grenade rounds). I want one.
- Thinking about New Zealand? Here’s some information about some of the downsides.
- You can get your RFID experimentation kit, here, when they’re back in stock that is.
- Learn about City Year – aka the red jackets. Maybe this video will put it in perspective.
- Glenn Beck did a pretty nice 40 or so minute documentary on communism. On the other hand, if you already knew that Stalin, Mao, and Che were mass murderers then there’s not much need to watch… The irony is that, while everyone knows about the national socialist (a.k.a. Nazi) Hitler and his genocide, so many less know about Mao and Stalin. If you want to know about Mao read Born Red or Son of the Revolution. You’ll be stunned. In the end, fascism = totalitarianism = communism. There is no difference. You are a serf in either scenario. Just a head of cattle to be disposed of as the state sees fit. Step up get your microchip, shut-up, work as you’re told or die. That’s the reality of it.
And now the numbers…
DOW Jones Industrials – 10,927.07 (+76.71/0.71%)
S&P 500 – 1,178.10 (+11.51/0.99%)
VIX – 17.47 (-0.30/-1.69%)
CSI 300 (China) – 3,407.346 (+132.344/4.04%)
BSE 500 (India) – 6,980.19 (+49.04/0.71%)
MICEX (Russia) – 1,480.17 (+64.63/4.57%)
BOVESPA (Brazil) – 71,136.344 (+2,453.688/3.57%)
RICI – 3,241.70 (+114.59/3.66%)
Gold/oz – 1,126.10 (+20.70/1.87%)
Silver/oz – 17.89 (+0.984/5.82%)
Copper/lb – 358.40 (+18.10/5.32%)
Oil/bbl (Brent) – 84.01 (+4.72/5.95%)
Wheat/bu (CBT) – 468.50 (+3.75/0.81%)
Corn/bu – 344.50 (-11.75/-3.30%)
EUR-USD – 1.3504 (+0.0094/0.70%)
USD-JPY – 94.61 (+2.092/2.26%)
USD-BRL – 1.7646 (-0.0544/-2.99%)
3 Month Treasury – 0.16 (+0.03/23.08%)
2 Year Treasury – 1.10 (+0.06/5.77%)
10 Year Treasury – 3.94 (+0.09/2.34%)
30 Year Treasury – 4.81 (+0.06/1.26%)
3 Month LIBOR – 0.29 (UNCHG)
U.S. Public Debt (official) – 12,764,878,911,618.20 (+77,308,758,594.30/0.61%)
Baltic Dry Index (BDIY:IND) – 2,991.00 (-107.00/-3.45%)
Good new everyone… I got my change of program application accepted to move from Computer Science to Signal Processing in the Electrical Engineering Department. Yay!
A friend of mine sent me this about the Cattle Guard Retraining Act:
“A few months ago, President Obama received a report that there were over 100,000 cattle guards in Colorado. Because Colorado ranchers had protested his proposed changes in grazing policies, he ordered the Secretary of the Interior Salazar to fire half of the guards immediately.
“Before the Secretary Salazar could respond and presumably straighten him out, Vice-President Joe Biden, intervened with a request that before any guards were fired, they be given six months of retraining.”
It’s a joke (I hope)… laugh!
So I had planned to write this whole thing about communism this week, because I’m sick of people who espouse that vile ideology, but there’s no time. So maybe next week or at some later time. In any case I have made a personal vow to unscrupulously ridicule anyone who espouses such ideas, whether I meet them in person, online, or wherever.
One bit about the arrests of several militia members in Michigan, Indiana, and Ohio this last week, and regardless of whether these people really were plotting to kill police officers. (In fact that may or may not be true. We’ll see how it ends up in court.) In any case, what everyone should realize is that “the militia” is not a homogeneous group. There is no central command, there is no real coordination.
By and large, from what I have witnessed, these are regular people (albeit mostly rural) who organize locally, and who are interested in protecting and aiding their communities in the event of a natural or man made disaster. You should be happy to have people who are prepared to deal with emergency situations in your community. The police can not be everywhere at once. In fact, you yourself might consider coming up to some basic level of disaster preparedness.
To shift gears, we have breakfast in Saline tomorrow at 8AM at the City Limits Diner.
Plus I’m really tired so I’m going to wrap it up. Have a good night, a great weekend, and a happy Easter!