Quote of the week
“Thanks to the collective foolishness of the American political class, and their stable of appointed monetary masters, the U.S. dollar is losing purchasing power almost daily. Thanks, political people and monetary masters! Appreciate your great work.” – Byron King
by Chris Martensen
“[F]ar too many people expect events to unfold in a more or less orderly manner, with plenty of time to adjust along the way. In other words, linearly. The world does not always cooperate, and my concern rests on the observation that we still face the convergence of multiple trends, each of which alone has the power to permanently transform our economic landscape and standards of living.
“Three such trends (out of the many I track) that will shape our immediate future are:
- Peak Oil
- Sovereign insolvency
- Currency debasement
“Individually, these worry me quite a bit; collectively, they have my full attention.” more…
by Simon Black
“With consumer spending on the decline in many parts of the world, manufacturers have little domestic demand for their products. Consequently, everyone is looking to export products overseas, and a weaker currency makes products seem cheaper and more attractive to foreign buyers.” more…
by Amy Fontinelle
“In 2001 and 2003, President Bush enacted a series of tax cuts that lowered income taxes for just about everyone – not only the rich. These tax cuts will expire on December 31, 2010. So far, although both Democrats and Republicans have come up with plans to renew the tax cuts (with some changes), Congress has not actually taken action. Here’s a look at what will happen if Congress allows the Bush tax cuts to expire. (Find out more in A Concise History Of Changes In U.S. Tax Law.)” more…
by Joseph Sobran
“Funny how you can exempt yourself from the crimes of Marxism by adding the prefix neo. A neo-Nazi isn’t usually regarded as a higher life form than a regular old Nazi, but a neo-Marxist is supposed to be unrelated to the folks who gave the world the gulag, the reeducation camp, and the vast boneyards of Siberia, China, and Cambodia.” more…
- The Bain Report
- Two failed banks this week
- Amazon Best Sellers: #1 Trickle Up Poverty – Michael Savage; #2 The Heroes of Olympus – Rick Riodan; #3 Earth – A Visitor’s Guide to the Human Race – Jon Stewart
- Failure Friday
Politics and Such
- “No Pressure“: Environmental propaganda from an eco-fascist group that doesn’t place much (any?) value on a human life. Video. Watch this. At least the first part.
- Obama is open to lowering the U.S. corporate tax rate.
- Reuters interviews Nassim Taleb. Here’s the money quote: “I’m using the money now to finance the destruction of the economic establishment.”
- Interesting review of “The Social Network“: Again the money quote: “[T]he distortions in the movie are not simply there to create a more engaging story; they are there to help construct a narrative of the revolution that helps to reassure the ancien regime that they were on the side of humanity.”
- How the war in Afghanistan depends upon the Khyber Pass. “Amateurs talk strategy. Professionals talk logistics.”
- Notes from the Casey Research Summit – mainly how Fiat Currencies Are Headed into Crisis.
- Please Sarah Palin, don’t run for President. You’re too stupid.
- For a cashless society: http://currencyofprogress.com/
- Cold Steel War Sword put to use on various items, including two whole pigs. The part from 4:30 to the end is probably the best. Watch it…
- Interactive education modules in scientific computing from UIUC.
And now the numbers…
DOW Jones Industrials – 11,006.48 (+176.80/1.63%)
S&P 500 – 1,165.15 (+18.91/1.65%)
VIX – 20.71 (-1.79/-7.96%)
CSI 300 (China) – 3,044.233 (+108.659/3.70%)
BSE 500 (India) – 8,139.84 (+4.61/0.06%)
MICEX (Russia) – 1,464.67 (+9.04/0.62%)
BOVESPA (Brazil) – 70,808.797 (+579.445/0.83%)
Nikkei 225 (Japan) – 9,588.88 (+184.65/1.96%)
RICI (Commodities) – 3,470.95 (+111.80/3.33%)
Gold/oz – 1,345.30 (+27.50/2.09%)
Silver/oz – 23.105 (+1.045/4.74%)
Copper/lb – 377.45 (+8.40/2.28%)
Oil/bbl (Brent) – 84.03 (+0.28/0.33%)
Wheat/bu (CBT) – 719.25 (+64.25/9.81%)
Corn/bu – 528.25 (+62.50/13.42%)
EUR-USD – 1.3939 (+0.0148/1.07%)
USD-JPY – 81.925 (-1.293/-1.55%)
USD-HKD – 7.7579 (+0.00/0.00%)
USD-BRL – 1.666 (-0.0238/-1.41%)
NZD-USD – 0.7557 (+0.0112/1.50%)
3 Month Treasury – 0.11 (-0.04/-26.67%)
2 Year Treasury – 0.34 (-0.07/-17.07%)
10 Year Treasury – 2.39 (-0.12/-4.78%)
30 Year Treasury – 3.75 (+0.04/1.08%)
3 Month LIBOR – 0.29 (UNCHG)
U.S. Public Debt (official) – 13,615,674,949,267.90 (+54,051,918,376.10/0.40%)
Baltic Dry Index (BDIY:IND) – 2,696.00 (+244.00/9.95%)
Whew! The last two weeks have been crazy. Since I got back from ABQ it’s been difficult to get back on track. From work schedules to homework… But it looks like things are going to get back into sync now. I’ve got a midterm Monday night, but I have Saturday and Monday to study, so that should all work out good. Just one class this semester, then one more next semester, and then that’s it. Finally. In any case, I’m learning some interesting stuff in this class. I’ll not burden you with the details… It’s just a lot of linear algebra.
Meanwhile, I made some red chile sauce from pods. I’m still trying to perfect the recipe. What I did was boil the pods with several cloves of garlic. When soft, transferred to blender and pureed, using the water from the boiling pot as required to give appropriate consistency – rather thick. Then I transferred that back into a pot and added some oregano and a bit of salt. It was quite tasty over scrambled eggs. I know I can do better though. Would appreciate suggestions. Incorporating pork is the obvious one. :)
Otherwise swimming with Baby Girl tomorrow. It’s really amazing how well she’s doing. I just love it when she grabs onto my pants looks at me and says “up”. Of course sometimes that’s just a ploy to get to something she couldn’t reach on her own, but at other times I get a big hug. Either way it’s great.
Not much else going on now. I’m scheming up some changes for the newsletter. Working with someone on a logo. I’m hoping to expand my readership a bit. If you’d like to help I’d definitely appreciate it. Anyone can get on the list by sending me an email at email@example.com and asking.
So that’s it for now. Have a great weekend!