Quote of the week
“The government’s secrets were downloaded by a private first class, burned, and smuggled out as a Lady GaGa CD. This evident incapacity to control secret documents should give pause to anyone who still believes the government can be trusted with maintaining the confidentiality of electronically transmitted medical records…or anything else, to be frank.” – Mark Eisner
by David Galland
“If there were some mega-computer capable of fairly allocating the financial pain based on the contribution each of us has made to this mess, and then assess taxes accordingly, I suspect the end result would leave past and present members of the Fed living in cardboard boxes, and 97% of past and present members of Congress shuffling in gutters looking for cigarette stubs… at least when they weren’t fighting over discarded clothes with executives of the big financial institutions, NGOs, and the Treasury Department.” more…
by Jack Shafer
“International scandals—such as the one precipitated by this week’s WikiLeaks cable dump—serve us by illustrating how our governments work. Better than any civics textbook, revisionist history, political speech, bumper sticker, or five-part investigative series, an international scandal unmasks presidents and kings, military commanders and buck privates, cabinet secretaries and diplomats, corporate leaders and bankers, and arms-makers and arms-merchants as the bunglers, liars, and double-dealers they are.” more…
by Wendy McElroy
“Citing the British model, Cleveland, Ohio, is taking a giant step toward a similar scheme of compulsory recycling. In 2011 some 25,000 households will be required to use recycling bins fitted with radio-frequency identification tags (RFIDs)—tiny computer chips that can remotely provide information such as the weight of the bin’s contents and that allow passing garbage trucks to verify their presence. If a household does not put its recycle bin out on the curb, an inspector could check its garbage for improperly discarded recyclables and fine the scofflaws $100. Moreover, if a bin is put out in a tardy manner or left out too long, the household could be fined. Cleveland plans to implement the system citywide within six years.” more…
Video 4:00. HIGHLY RECOMMENDED. Watch here. Feel like going out to buy more ammo?
- The Bain Report
- Second week running, no failed banks.
- Failure Friday is back! Yay! You want to laugh, so click…
- 57% of the Irish favor a default on bond obligations.
- Wikileaks plans to release an as yet unnamed bank’s “secret” documents. Looks like its BofA.
- Iran blames United States for death of nuclear scientist.
- Climate “researchers” suggest widespread rationing in developed world as a way to combat climate change.
- Own physical silver: video 3:21. Good stuff. “We are advocates of hard money, constitutional money.”
And now the numbers…
DOW Jones Industrials – 11,382.09 (+290.09/2.62%)
S&P 500 – 1,224.71 (+35.31/2.97%)
VIX – 18.01 (-4.21/-18.95%)
CSI 300 (China) – 3,158.156 (-36.697/-1.15%)
BSE 500 (India) – 7,873.36 (+321.25/4.25%)
MICEX (Russia) – 1,649.56 (+83.15/5.31%)
BOVESPA (Brazil) – 69,766.094 (+1,539.992/2.26%)
Nikkei 225 (Japan) – 10,178.32 (+138.76/1.38%)
RICI (Commodities) – 3,710.15 (+216.07/6.18%)
Gold/oz – 1,406.20 (+41.90/3.07%)
Silver/oz – 29.271 (+2.499/9.33%)
Copper/lb – 399.90 (+23.65/6.29%)
Oil/bbl (Brent) – 91.42 (+5.84/6.82%)
Wheat/bu (CBT) – 779.00 (+91.75/13.35%)
Corn/bu – 573.50 (+20.50/3.71%)
Rough Rice (CBOT) – 14.67 (+1.265/9.44%)
EUR-USD – 1.3415 (+0.0173/1.31%)
USD-JPY – 82.53 (-1.5745/-1.87%)
USD-HKD – 7.7647 (+0.0014/0.02%)
USD-BRL – 1.687 (-0.0409/-2.37%)
NZD-USD – 0.766 (+0.0161/2.15%)
3 Month Treasury – 0.13 (-0.02/-13.33%)
2 Year Treasury – 0.47 (-0.04/-7.84%)
10 Year Treasury – 3.01 (+0.14/4.88%)
30 Year Treasury – 4.31 (+0.10/2.38%)
3 Month LIBOR – 0.30 (+0.01/3.45%)
U.S. Public Debt (official) – 13,840,966,239,053.20 (+52,676,963,973.20/0.38%)
Baltic Dry Index (BDIY:IND) – 2,168.00 (-2.00/-0.09%)
Whew! Another busy week. I had some meetings in Cincinnati Tuesday and Wednesday, so Little Wife, Baby Girl, and I took the 4 hour drive from Ann Arbor down that way. I met, they played. The meetings were quite good though – primarily centered around what our company is going to be doing for the next 6-12 months. We ended up getting waylaid Wednesday night in Cincinnati by snow and the late hour. So we drove home Thursday.
Didn’t get much reading done over the course of the week either, or a whole lot of anything really. So I did a lot of catching up tonight. The video in the featured section really is quite good. I also saw this article about having an emergency fund, which suggests that some gold, federal reserve notes, silver, and other bartarable things would be worth having around.
Gold and silver are back on their tear again. Looks like maybe the last couple weeks really were a good buying opportunity. Most especially for silver.
Baby Girl hasn’t made any milestones this week really, but she is certainly as cute as ever. We’ve got a box of pinto beans that she likes to play in. She sits in them and throws them all over herself. Of course there’s more words and maybe some moves toward running. I can’t wait for our first 4-6 inch snowstorm. I suspect she’ll be surprised!
We’ve got our weekly liberty breakfast tomorrow at the Classic Cup Cafe on Jackson Road in Ann Arbor at 8AM. So be there or be nowhere… Yeah, that’s someone else’s line, I know. Anyway, as for me, I should be out tomorrow morning, but then it’s back home to play linear algebra and singular value decomposition. Cool stuff really…
Oh, one other thing. The Washtenaw County Republican Party had a convention to elect its executive committee Thursday and we got 100% of our slate elected. This was all due to a very energetic leader who I am quite proud to know. I’ll not name names, as that’s not my modus operandi here, but if you know him you know who I am talking about.
Have a great weekend!