Quote of the week
“Alas, that there should be so little logic in the midst of so much education!” – Theodore Dalrymple
by David Galland
“Having tried to appease his election-year friends by ramping up the size, scope, and cost of government – and even still failing to make a dent in unemployment – there’s no way he can now attempt to fulfill their aspirations by raising taxes even further on the capitalists, push through insane carbon legislation, pick a trade war with anyone, or even afford to push for a significant standdown in the U.S. military; the country couldn’t handle hundreds of thousands of newly unemployed and fight-ready soldiers returning to a jobless America.
“In short, the people who brought Prince O to power are increasingly dissatisfied with his reign – you can see that in the chart above, as well – and so can no longer be counted on to do his bidding come election time.” more…
by James Otteson
“[P]erhaps it is that, as General Petraeus suggested, Muslim outrage at burning Korans can lead to violent bloodshed, whereas New Yorkers’ outrage at a Ground Zero mosque will lead to little more than internalized hurt feelings.
“If that possibility is at work, consider what an incentive structure that establishes. It sounds a lot like ‘might makes right’: If you want people to start respecting your views, don’t try arguing or protesting; try threatening them with violence. Is that really a principle we want to let guide us?” more…
by Ted Koppel
“The goal of any organized terrorist attack is to goad a vastly more powerful enemy into an excessive response. And over the past nine years, the United States has blundered into the 9/11 snare with one overreaction after another. Bin Laden deserves to be the object of our hostility, national anguish and contempt, and he deserves to be taken seriously as a canny tactician. But much of what he has achieved we have done, and continue to do, to ourselves. Bin Laden does not deserve that we, even inadvertently, fulfill so many of his unimagined dreams.” more…
by Jason Sorens
“By now, virtually everyone knows about the corruption in Bell, California, a small city of 40,000 residents where the median household income is $40,000, and the city manager made more than $800,000 a year and the part-time city councillors around $100,000 a year, while raising property taxes and overcharging their residents for sewage services. The reason that Bell officials were exempt from state salary limits was that they had adopted an ordinance turning Bell into a ‘charter city,’ which enjoys a measure of home rule that other localities lack, including autonomy over setting the salaries of public officials.” more…
by Mr. Smashy
“A shotgun is a valuable tool that should be in every survival toolkit. In today’s environment the shotgun can be a bit of a question mark; it’s more powerful than a pistol but has less range than a rifle, and limited magazine capacity. It’s not always clear when or how to deploy the shotgun. Here are 6 good reasons every survivalist needs one.” more…
- A single failed bank this week. First one in three weeks.
- Amazon best sellers – (#1 Franzen, Freedom: A Novel; #2 Hawking, The Grand Design; #3 Larsson, The Girl Who Kicked the Hornet’s Nest)
- Bill Bonner – You say Obama; I say Ozawa! You say boom; I say ka-boom!
Politics and such
- Nevada gubernatorial candidate touts plan to sell “right to speed” on highways.
- Let’s ditch John Dingell.
- North Korea develops video game for Rupert Murdoch’s company, News Corporation. That’s the parent company of Fox News. Makes all of that jingoism on Fox News seems like a head fake doesn’t it?
- Guess what? You don’t own that software you bought.
- WikiLeaks to publish Iraq War documents.
- Koran’s burners website shut down by hosting company.
- 68% favor smaller government and lower taxes.
- Incandescent light bulb factory closes. Federally mandated fluorescents to be made in China.
- Obama’s new Asian carp czar is “ready to do battle”. Granted invasive species are a problem, and this one is particularly problematic.
- New York man arrested for firing his rifle into the air over a gang of 20 who were in his yard threatening his family.
- Despite the fact it is now a parking lot, the old Giants Stadium still carries FRN$110 million in debt.
- The Smoking Ruin Solution.
- China to build FRN$2 billion railway for Iran. The beginnings of the modern “silk road”? Perhaps.
- 7.1 earthquake hits New Zealand. There’s a nice little geology lesson in this rather short article too.
- Failure Friday – funny stuff, you should check it out… Gotta love the news cast toward the bottom. Doh!
And now the numbers…
DOW Jones Industrials – 10,462.77 (+14.84/0.14%)
S&P 500 – 1,109.55 (+5.04/0.46%)
VIX – 21.99 (+0.68/3.19%)
CSI 300 (China) – 2,932.554 (+12.349/0.42%)
BSE 500 (India) – 7,638.87 (+199.79/2.69%)
MICEX (Russia) – 1,433.82 (+23.66/1.68%)
BOVESPA (Brazil) – 66,806.789 (+128.172/0.19%)
RICI – 3,232.03 (+33.27/1.04%)
Gold/oz – 1,246.50 (-4.60/-0.37%)
Silver/oz – 19.845 (-0.104/-0.52%)
Copper/lb – 340.65 (-9.35/-2.67%)
Oil/bbl (Brent) – 78.16 (+1.49/1.94%)
Wheat/bu (CBT) – 736.75 (-4.50/-0.61%)
Corn/bu – 478.25 (+13.75/2.96%)
EUR-USD – 1.2679 (-0.0217/-1.68%)
USD-JPY – 84.146 (-0.165/-0.20%)
USD-HKD – 7.7686 (-0.0022/-0.03%)
NZD-USD – 0.7285 (+0.0078/1.08%)
USD-BRL – 1.7222 (-0.0106/-0.61%)
3 Month Treasury – 0.13 (+0.01/8.33%)
2 Year Treasury – 0.57 (+0.06/11.76%)
10 Year Treasury – 2.79 (+0.09/3.33%)
30 Year Treasury – 3.87 (+0.09/2.38%)
3 Month LIBOR – 0.29 (UNCHG)
U.S. Public Debt (official) – 13,444,496,046,138.50 (+2,438,679,109.20/0.02%)
Baltic Dry Index (BDIY:IND) – 2,995.00 (+119.00/4.14%)
Whew! Classes started. Company is getting ready for another release of its software. Lots to do. So little time. Turns out I’ve caught up on my news reading this week, mostly in the last two hours. Google Reader rocks. In any case, we’ve gone from a fairly thin newsletter about why you should own a shotgun to something more voluptuous.
Looks like we’ll be in ABQ in a few couple of weeks for about a week. Work calls me in, but we’ll stay a weekend and Little Wife and Baby Girl are coming, and of course they don’t have to work while they are there. That’s reserved for me. We’ll get to make our nephew’s first birthday party though. So that’s cool and rather unexpected actually. Still need to find a dog sitter.
It’s been a really good week. Solid exercise. Went for a one hour walk with Baby Girl today while on a conference call. Got more than 3 miles in methinks. Good stuff.
Not sure if I mentioned it before but we bought a pasta machine a couple weeks back. That rocks! Home made past, which consists simply of eggs, flour, salt, 15 minutes of kneading (read punching the dough), and 1 hour of waiting (doing something else), is so much yummier than the dried stuff you buy in the store. Ridiculously yummier. On the other hand I’m beginning to get on the primal living bandwagon…
And that’s about it for the week. Time for one more glass of wine, a stroll on Facebook, and bed.
Have a great weekend!