Quote of the week
“Washington is now the center of the universe. Thanks for voting.” -Gary Howard
by Shawn Macomber (Interview with Tom Woods)
“So they have their priorities, I have my priorities. Why shouldn’t we each pursue our own priorities rather than clawing at each other every four years to see who gets to impose a single view on the whole country? That’s the idea behind nullification. It’s fascinating to me how easily demonized this position is. There’s nothing in the apportionment of powers that has any necessary connection with racism or oppression… but when you challenge federal power a lot of people who support that power want to shout at you about lunch counters and have that be the end of it. These aren’t left/right issues, though. It should be a structural question: Do you want to live in an imperial society or a self-governing one?” more… [This is a nice (and short) read.]
by Lee Tien and Seth Schoen
“The White House recently released a draft of a troubling plan titled ‘National Strategy for Trusted Identities in Cyberspace’ (NSTIC). In previous iterations, the project was known as the ‘National Strategy for Secure Online Transactions’ and emphasized, reasonably, the private sector’s development of technologies to secure sensitive online transactions. But the recent shift to ‘Trusted Identities in Cyberspace’ reflects a radical — and concerning — expansion of the project’s scope.
“The draft NSTIC now calls for pervasive, authenticated digital IDs and makes scant mention of the unprecedented threat such a scheme would pose to privacy and free speech online. And while the draft NSTIC ‘does not advocate for the establishment of a national identification card’ (p. 6), it’s far from clear that it won’t take us dangerously far down that road. Because the draft NSTIC is vague about many basic points, the White House must proceed with caution and avoid rushing past the risks that lay ahead. Here are some of our concerns.” more…
by James Otteson
“Through more expedients than one cares to count, governments at all levels and many other institutions have conspired to sever the link between decisions and consequences, and thus to prevent the feedback from reality that is necessary to develop adult judgment. This is all done with the best of intentions: we wish to diminish the pain from bad consequences. But like so many good intentions, this one can, when taken too far, issue in unintended bad consequences. Those consequences may be unintended, but they are real; and a growing population of adults with juvenile worldviews and immature judgment is very real, and very worrisome, consequence.” more…
by John Derbyshire
“It is plain that no U.S. administration of any party is going to build a wall along our nation’s southern border. “Can’t be done,” our leaders tell us, shaking their heads in mock despair, while feeling under the desk for the envelopes full of benjamins being passed from cheap-labor lobbyists and race-grievance shills. ‘Too much border . . . mountainous terrain . . . impossible to patrol . . .’
“They are of course lying, but I can’t bring myself to care much any more. So far as buildings walls is concerned, a wall along the southern border would in any case be my second priority. If I had my druthers, and there was a 40-foot concrete wall to be built, I’d build it around Washington, D.C.” more…
- The Bain Report: Articles that Affect You and Your Family in Michigan and beyond
- Six failed banks this week, making 105 on the year.
- Amazon Best Seller List
- Bill Bonner – The State the Welfare State is In
- Kruiser Control (it’s an interview, not very good this week)
Politics and Such
- Americans are voting with their feet.
- Contra Washington Post, there is in fact going to be a (sales) tax on real estate sales. Well, I suppose it depends upon your definitions of “sales” and “tax”.
- This is an older (Feb 2010), but good piece on banking corruption in the United States. Specifically it’s related to the sweetheart deal the FDIC made with One West Bank for the bankrupt Indy Mac’s assets. Do you think Goldman Sach’s might be involved?
- Commercial property foreclosure crisis is coming.
- Moody’s downgrades Ireland.
- What does FRN$100 million look like out of FRN$3.5 trillion?
- Obama Bumper Sticker (BS) removal kit… satisfaction is not guaranteed because you’ve already proven you don’t make very good decisions. Too funny!
- Disintegration of the EuroZone and the EU? The Europeans appear unhappy with each other.
- The U.S. Government has an assassination list, which includes U.S. Citizens who are merely suspected of being terrorists. Citizen, subject, or serf? You decide…
- Kagan is approved by Senate Judiciary Committee.
- Only 8% of the folks on Obama’s cabinet have had a job in the private sector… ever.
- Oakland, California has legalized large scale marijuana farming. That’s nullification in action.
- Competing currencies taking hold in mid-Michigan (Flint area it looks to be).
- A number of Pentagon workers have been tied to child pornography.
- Some GOP Senators are trying to block the FCC on imposing “net neutrality”. No regulation without representation!
- A lymphoma vaccine is in the works.
- Giant “Optimus Prime” Transformer built out of junk. Pretty cool.
- Football is coming back… Here are AFC and NFC previews.
And now the numbers…
DOW Jones Industrials – 10,424.62 (+326.72/3.24%)
S&P 500 – 1,102.66 (+37.78/3.55%)
VIX – 23.47 (-2.78/-10.59%)
CSI 300 (China) – 2,793.076 (+176.948/6.76%)
BSE 500 (India) – 7,276.57 (+52.80/0.73%)
MICEX (Russia) – 1,380.86 (+53.31/4.02%)
BOVESPA (Brazil) – 66,322.992 (+3,983.722/6.39%)
RICI – 3,092.18 (+69.55/2.30%)
Gold/oz – 1,187.80 (-0.40/-0.03%)
Silver/oz – 18.101 (+0.313/1.76%)
Copper/lb – 318.50 (+25.55/8.72%)
Oil/bbl (Brent) – 77.45 (+2.08/2.76%)
Wheat/bu (CBT) – 596.25 (+9.00/1.53%)
Corn/bu – 384.50 (-22.75/-5.59%)
EUR-USD – 1.2909 (-0.0021/-0.16%)
USD-JPY – 87.464 (+0.891/1.03%)
USD-HKD – 7.7681 (-0.0071/-0.09%)
NZD-USD – 0.7273 (+0.0167/2.35%)
USD-BRL – 1.7738 (-0.0082/-0.46%)
3 Month Treasury – 0.15 (UNCHG)
2 Year Treasury – 0.58 (UNCHG)
10 Year Treasury – 2.99 (+0.07/2.40%)
30 Year Treasury – 4.01 (+0.07/1.78%)
3 Month LIBOR – 0.49 (-0.03/-5.77%)
U.S. Public Debt (official) – 13,249,153,625,870.40 (+8,925,104,375.50/0.07%)
Baltic Dry Index (BDIY:IND) – 1,826.00 (+106.00/6.16%)
What a nice week. Warm, but not too warm, except today.
Garden is growing well. Had walleye with lemon and fresh (from my garden) dill , sweet corn and zucchini from the farmer up the road for dinner tonight. Good stuff. Baby Girl was very interested in the corn.
Worked the Campaign for Liberty booth at the Ann Arbor Art Fair today. Met a few new people, visited with some folks I haven’t seen in a while. It was steamy though. Like 90 degrees and very high humidity. And that was at 9:30AM…
Campaign for Liberty was tasked for trash duty at 11AM today at the Art Fair and I made the rounds. We just had to go around the non-profit area and ask the various booths if they had any trash and if so they could put it in the bag I was carrying. No biggy.
It’s a nice chance to see all the booths. Turns out there’s two booths for socialists… And it’s because they don’t know how to get along. They all want to rape and pillage you in a different way, a way that makes them somehow makes them offensive to one another. Vermin… both factions.
The fun part was when I walked up to John Dingell’s booth… Of course he wasn’t there. He’s way too important to give two craps about his constituents . (FYI: John Dingellberry is the MI-15 U.S. “Representative”, and he’s like a 50+ year incumbent – a scumbag to be sure). Anyway, I walk up to the booth, and I’m like, “do you all have any trash?”. They say, “no”. I reply, “what about all that stuff on the table?” The booth worker looks at me and says “zinger”. Heh.
It’s funny at the Ann Arbor Art Fair the Republican Booth doesn’t have the word Republican written on it anywhere as far as I could tell. That tells you what kind of place we live in. I think their booth got vandalized last year actually.
So that’s the story for now. As it has been for the last several weeks Baby Girl is so very close to walking and is even taking her first hesitant steps. We bought her some magnet letters and numbers for the fridge and she’s enjoying that. And she’s also really into knocking down stacks of blocks. Funtimes.
It’s also my 5th Wedding Anniversary today. So that’s cool. And I’m off to go watch a movie with my wonderful wife.
And that’s about it. And it’s only 9:30. I’m actually going to get this thing out before midnight this week!
Have a great weekend!