Week in review

Quote of the week

“‘Saving’ since the 1980s has not been about how much you have in the bank, but how much less you spend on something you’re already buying. ‘Investing’ during that same time has become an exercise in flipping stocks… rather than an effort to use capital to produce some ‘thing’ for a profit.” – Addison Wiggin

How Tea Party Organizes Without Leaders

by Jonathan Rauch

“[R]adical decentralization embodies and expresses tea partiers’ mistrust of overcentralized authority, which is the very problem they set out to solve. They worry that external co-option, internal corruption, and gradual calcification — the viruses they believe ruined Washington — might in time infect them. Decentralization, they say, is inherently resistant to all three diseases.” more… [This is a very good article and informative article.]

The Case for a ‘Repeal Amendment’

by Randy E. Barnett and William J. Howell

“On Sept. 17, 1787, the U.S. Constitution was signed. The celebration of Constitution Day this year takes on renewed significance as millions of Americans are objecting to a federal government that has bailed out or taken over banks, car companies and student loans while it prepares to take charge of the practice of medicine. Unfortunately, because there is no single cause for this growth of federal power, there is no single solution.” more… [Generally a good idea. How they can mention growth of government resulting from the policies of 1913 without decrying the establishment of The Federal Reserve is beyond reason. But it is the Wall St. Journal…]

Take a Second Look at Christine O’Donnell

by Keith Johnson

“Christine O’Donnell’s victory in the Delaware Republican primary may not be cause for celebration. A Christine O’Donnell in Washington may just mean one more vote for endless war in the Middle East.” more…

Video: Government Intervention, Left and Right

by The Southern Avengener

Wherein he explains how government interventions, both foreign and domestic, are damaging, and then considers the question: “what if we did nothing?” more… (5:32)

Patriotism as a Threat to Capitalism

by Kel Kelly

“Having learned that the government acts in ways detrimental to its citizens economically, and by causing wars, we should ask exactly why we support our politicians, why we support most of our military operations, and why we support our very national identity. In short, we should ask ourselves why we are patriotic.” more… [Stop after the first section.]

Regulars

Politics and such

  • A bill to tax fortune tellers in Romania fails. Bill would have held them liable for incorrect predictions.
  • Looks like the “missing oil” from the Gulf oil spill is sitting at the bottom of the ocean.
  • Obama renews the national emergency declared by George W. Bush September, 14 2001. Perpetual emergency…
  • John Dennis is running for Congress against Nancy Pelosi. Here’s a TV spot of his. Pretty funny.
  • O’Donnell wins in Delaware. Here’s an article with the establishment spin on the victory.
  • Sweden considers “cashless society”.
  • Americans doing with their credit cards what the U.S. government is doing with its? Charge it up with no intention to pay?

Michigan

  • A bill for Constitutional Amendment which would prohibit the legislature from voting on any piece of legislation until it has been out of committee for three days has been introduced. If passed, the measure would have to be approved by the people.

Miscellany

And now the numbers…

DOW Jones Industrials – 10,607.85 (+145.08/1.39%)
S&P 500 – 1,125.59 (+16.04/1.45%)
VIX – 22.01 (+0.02/0.09%)
CSI 300 (China) – 2,861.369 (-71.185/-2.43%)
BSE 500 (India) – 7,881.77 (+242.90/3.18%)
MICEX (Russia) – 1,417.65 (-16.17/-1.13%)
BOVESPA (Brazil) – 67,089.117 (+282.328/0.42%)
Nikkei 225 (Japan) – 9,626.09 (+386.92/4.19%)
RICI – 3,272.36 (+40.33/1.25%)
Gold/oz – 1,277.50 (+31.00/2.49%)
Silver/oz – 20.816 (+0.971/4.89%)
Copper/lb – 352.20 (+11.55/3.39%)
Oil/bbl (Brent) – 78.21 (+0.05/0.06%)
Wheat/bu (CBT) – 739.25 (+2.50/0.34%)
Corn/bu – 513.25 (+35.00/7.32%)
EUR-USD – 1.305 (+0.0371/2.93%)
USD-JPY – 85.855 (+1.709/2.03%)
USD-HKD – 7.7657 (-0.0029/-0.04%)
USD-BRL – 1.7214 (-0.0008/-0.05%)
NZD-USD – 0.7257 (-0.0028/-0.38%)
3 Month Treasury – 0.15 (+0.02/15.38%)
2 Year Treasury – 0.46 (-0.11/-19.30%)
10 Year Treasury – 2.74 (-0.05/-1.79%)
30 Year Treasury – 3.90 (+0.03/0.78%)
3 Month LIBOR – 0.29 (UNCHG)
U.S. Public Debt (official) – 13,464,896,653,374.10 (+20,400,607,235.60/0.15%)
Baltic Dry Index (BDIY:IND) – 2,676.00 (-319.00/-10.65%)

I couldn’t find a good article, so I’ll have to explain this on my own… The Japanese Central Bank is intervening on behalf of the Yen so as to make it go lower against the dollar. In case you had not noticed, the Yen is currently very strong in comparison to the dollar. As the thinking goes, this Yen strength depresses Japan’s export driven economy because it makes their products more expensive overseas. So their central bank is trying to make the Yen worth less by basically printing money, or the electronic equivalent of it.

Meanwhile at home, Baby Girl has been sick. Either because she actually had a cold, or because she’s getting more teeth. Probably both. Tough day yesterday… better today, but still not 100%. Probably tomorrow. Otherwise no swimming, which would be too bad because the new session starts tomorrow and we haven’t swam since August.

It’s been really cool here lately. Such nice evenings. The leaves are starting to turn orange. In about two or three weeks the most beautiful part of the year will have arrived. Maybe I’ll get some pictures out. Hopefully we’ll get to the arboretum this year too.

Otherwise breakfast tomorrow at the Classic Cup Cafe on Jackson Road in Ann Arbor at 8AM.

Have a great weekend!

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