Quote of the week
“[The] true aim of [the campaign finance reform] game is incumbent protection, and it has been from the beginning. But thanks to the First Amendment, incumbents can’t shut down all private campaign financing, or regulate it in many of the ways that have been tried over the years. So after each new ‘reform,’ private money — which is speech — finds new ways to try to influence election outcomes. The reformers real beef, then, is with the First Amendment. They won’t say it. But there it is. It’s time to end this nonsense.” – Roger Pilon
by Dan Denning
“This is a serious breakdown in one of the most basic elements of a functioning market: contract (doing what you said you’d do). People at every level appear to have cheated and lied during the housing boom. The borrowers who lied on their loan applications…the mortgage originators who made the loan without any documentation of work or income…the securitiser who packaged it up and sold it to investors…the ratings agency that rated the debt investment-grade…the insurance companies who sold default insurance against the bonds multiple times…and the government that encouraged home-ownership and subsidised the fraud with an implied guarantee on the bonds of Fannie Mae and Freddie Mac, the government-sponsored enterprises that bought a lot of the garbage bonds.” more…
“The perpetually optimistic pundits that occupy the positions of influence on CNBC and the other MSM networks try to paint a rosy picture of the American state of affairs day after day. They urge citizens to spend money they don’t have. They are sure that extending unemployment benefits to 99 weeks will improve the unemployment situation. They declare that Cash for Clunkers and the Home Buyer Tax Credit were successful government programs. They are sure that invading countries in the Middle East will make America safer. Nobel Prize winners in economics declare that the government should undertake another $8 to $10 trillion of money printing because the first $5 trillion wasn’t enough.” more… [This is as good of summary as I have seen of the arguments for and against the destruction of the U.S. empire. You must know where I stand at this point…]
by Cindy Sheehan
“I have observed that it was one thing to be anti-Bush, but to be anti-war in the age of Obama is not to be tolerated by many people. If you will also notice, the only people who seem to know about the raids are those of us already in the movement. There has been no huge outcry over this fresh outrage, either by the so-called movement or the corporate media.” more…
by Laura Rozen
“Pape and his team of researchers draw on data produced by a six-year study of suicide terrorist attacks around the world that was partially funded by the Defense Department’s Defense Threat Reduction Agency. They have compiled the terrorism statistics in a publicly available database comprising some 10,000 records on some 2,200 suicide terrorism attacks, dating back to the first suicide terrorism attack of modern times — the 1983 truck bombing of the U.S. Marine barracks in Beirut, Lebanon, which killed 241 U.S. Marines. ” more…
- The Bain Report
- Failure Friday (if you’re not reading this, you’re missing out…)
- Three failed banks this week.
- Amazon Best Sellers: #1 The Lost Hero by Rick Riodan; #2 Diary of a Wimpy Kid – The Ugly Truth by Jeff Kinney; #3 A Visitor’s Guide to the Human Race by Jon Stewart
Politics and Such
- Facebook billionaire backs marijuana legalization in California. Nullification in action. :)
- Alaska is exporting water to India and the Middle East. The original News Week article was just way to biased for me to include. I got sick of reading it after the first page.
- Plans for nuclear power plants are being mothballed.
- Judge has ordered military to stop enforcing “don’t ask don’t tell”.
- I Want Your Money – movie trailer.
- Russ Feingold is having some trouble in Wisconsin. If the McCain-Feingold Act – aka incumbent protection act – were still operative this would probably not have been possible.
- The majority want a government job.
- Peter Schiff will have a daily radio show.
- New Mexican recipes.
- Capturing excess kinetic energy from roadways using piezoelectric materials.
- CNN’s 100 best jobs in Amerika.
- Map of online communities – Facebook, etc…
- Tomato Garlic Mussels. I made this Thursday evening. It’s very good.
And now the numbers…
DOW Jones Industrials – 11,062.78 (+56.30/0.51%)
S&P 500 – 1,176.19 (+11.04/0.95%)
VIX – 19.03 (-1.68/-8.11%)
CSI 300 (China) – 3,327.683 (+283.45/9.31%)
BSE 500 (India) – 8,086.35 (-53.49/-0.66%)
MICEX (Russia) – 1,491.48 (+26.81/1.83%)
BOVESPA (Brazil) – 71,830.18 (+1,021.383/1.44%)
Nikkei 225 (Japan) – 9,500.25 (-88.63/-0.92%)
RICI (Commodities) – 3,475.09 (+4.14/0.12%)
Gold/oz – 1,372.00 (+26.70/1.98%)
Silver/oz – 24.288 (+1.183/5.12%)
Copper/lb – 383.90 (+6.45/1.71%)
Oil/bbl (Brent) – 82.45 (-1.58/-1.88%)
Wheat/bu (CBT) – 704.50 (-14.75/-2.05%)
Corn/bu – 563.00 (+34.75/6.58%)
EUR-USD – 1.3977 (+0.0038/0.27%)
USD-JPY – 81.452 (-0.473/-0.58%)
USD-HKD – 7.757 (-0.00/-0.01%)
USD-BRL – 1.6651 (-0.0009/-0.05%)
NZD-USD – 0.7562 (+0.0005/0.07%)
3 Month Treasury – 0.13 (+0.02/18.18%)
2 Year Treasury – 0.36 (+0.02/5.88%)
10 Year Treasury – 2.56 (+0.17/7.11%)
30 Year Treasury – 3.98 (+0.23/6.13%)
3 Month LIBOR – 0.29 (UNCHG)
U.S. Public Debt (official) – 13,606,947,094,101.90 (-8,727,855,166.00/-0.06%)
Baltic Dry Index (BDIY:IND) – 2,762.00 (+66.00/2.45%)
I picked up a new phrase this week – Free Shit Army (FSA). It basically describes the folks world wide who collect “free shit” (via threat of violence by various governments) from the producers of the world. You can read more about the FSA here. It’s a demographic worth monitoring… When you read about riots in Greece. That’s the FSA at work. Do you want your Obama Cash? Well, then you’re probably a member of the FSA. And on and on and on.
Gold and silver have really been on a tear. Silver is up over 20% in the last 5 weeks alone. Yikes!
Back to work full-time next week. The big upsides to that are less work for Little Wife and more money. Plus I get to be move involved in the company and I’m looking forward to that. Meanwhile school is about 1/3 over for the semester. Got at ‘A’ on my midterm. Learning about the singular value decomposition. Neat stuff.
Week in review will have an official logo soon! Also, if you’re on Facebook and haven’t “liked” it yet. You can get the Week in Review page here. Also if you’re getting this for the first time and would like to get it every week, please drop me an email at email@example.com and I will put you on my list. I send this once a week. That’s it. You won’t hear from me otherwise.
Breakfast tomorrow at Classic Cup Cafe in Ann Arbor at 8AM.
Have a great weekend!