Week in Review

Quote of the week

“Public sector unions buy up the Democratic Party machines at all relevant levels, lever them into power, harvest taxpayers money in pay and benefits, recycle a proportion through union dues into political donations, then begin the cycle all over again. The result is runaway parasitism, completely relentlessly statist predation with no limits except comprehensive financial collapse. That limit is now being reached, and the deranged leftist rage will be a wonder to behold.” – Anonymous

Public-sector Unions Bleed Taxpayers

by Michael Barone

“Public-sector unionism is a very different animal from private-sector unionism. It is not adversarial but collusive. Public-sector unions strive to elect their management, which in turn can extract money from taxpayers to increase wages and benefits — and can promise pensions that future taxpayers will have to fund.” more… [Public Employee Unions = Government Workers for Big Government = No Credibility]

The Transition to a Free Society

by Free Radical

“The first, most fundamental, and most necessary step in the transition to a free society is the demise of the modern `monster state.’ And the first, most fundamental, and most necessary step in this process is the demise of the monstrous American state, its erstwhile role as a beacon to the world having long ago given way to a superpower that brings not light but heat, pulling a shroud over its own people in the process. The monster will object that it only wants to keep its people warm and safe, of course, but as people elsewhere start kicking their shrouds off, it is increasingly clear that the status – as in statist – quo is changing and that neither suffocating domestic policies nor incendiary foreign ones will be tolerated much longer.” more… [Lots ‘o speculation here, but it’s interesting nonetheless.]

He Who Begins to Count Begins to Err

by Chris Mayer

“Today’s papers carry lots of angst over rising prices, commonly called inflation. `Global Price Fears Mount,’ reads one Wall Street Journal headline. `New Push at Fed to Set an Official Inflation Goal,’ reads another.

“Within these articles are a number of `facts.’ I want you to go through these and see if you can tell what the unifying fallacy is:” more…

Army of Fake Social Media Friends to Promote Propaganda

by Darlene Storm

“It’s recently been revealed that the U.S. government contracted HBGary Federal for the development of software which could create multiple fake social media profiles to manipulate and sway public opinion on controversial issues by promoting propaganda. It could also be used as surveillance to find public opinions with points of view the powers-that-be didn’t like. It could then potentially have their “fake” people run smear campaigns against those “real” people. As disturbing as this is, it’s not really new for U.S. intelligence or private intelligence firms to do the dirty work behind closed doors.” more…

Intervene in Libya? No way!

by Phil Giraldi

“A recent Rasmussen poll suggests that fully two-thirds of Americans want the United States to steer clear of any involvement in the unrest that is shaking the Arab world. But in spite of the overwhelming consensus revealed by the poll, there are reports that the Administration of President Barack Obama is exploring possible military options for intervention in Libya. One should deplore the bloodshed being orchestrated by the Qaddafi regime, but the judgment of the American people that any involvement in what has become Libya’s civil war is the wrong course to follow is correct. There are a number of reasons why that is true. First, any perception that Washington is taking sides will be exploited by both friends and foes alike in what are essentially highly volatile situations.” more…

Regulars

  • The Bain Report
  • Zero failed banks this week. Amazing…
  • Failure Friday
  • Amazon Best Sellers: #1 Heaven is for Real: A Little Boy’s Astounding Story of His Trip to Heaven and Back by Todd Burpo, Sonja Burpo, Colton Burpo, Lynn Vincent; #2 Unbroken: A World War II Story of Survival, Resilience, and Redemption by Laura Hillenbrand; #3 Peace from Broken Pieces: How to Get Through What You’re Going Through by Iyanla Vanzant

Other Stuff

And now the numbers…

DOW Jones Industrials – 12,130.45 (-260.80/-2.10%)
S&P 500 – 1,319.88 (-23.13/-1.72%)
VIX – 19.22 (+2.79/16.98%)
CSI 300 (China) – 3,197.617 (-14.259/-0.44%)
BSE 500 (India) – 6,811.91 (-216.24/-3.08%)
MICEX (Russia) – 1,747.72 (+57.61/3.41%)
BOVESPA (Brazil) – 66,902.531 (-1,164.289/-1.71%)
Nikkei 225 (Japan) – 10,526.76 (-316.04/-2.91%)
RICI (Commodities) – 4,164.20 (+112.14/2.77%)
Oil/bbl (Brent) – 112.43 (+9.91/9.67%)
Corn/bu – 722.00 (+1.75/0.24%)
Wheat/bu (CBT) – 811.25 (-44.50/-5.20%)
Rough Rice (CBOT) – 14.31 (-0.765/-5.07%)
Copper/lb – 445.50 (-4.10/-0.91%)
Gold/oz – 1,409.30 (+20.70/1.49%)
Silver/oz – 32.923 (+0.627/1.94%)
EUR-USD – 1.3754 (+0.0061/0.45%)
USD-JPY – 81.676 (-1.5075/-1.81%)
USD-BRL – 1.6684 (+0.0063/0.38%)
USD-HKD – 7.7934 (+0.0086/0.11%)
NZD-USD – 0.7516 (-0.01/-1.31%)
3 Month Treasury – 0.12 (+0.03/33.33%)
2 Year Treasury – 0.71 (-0.04/-5.33%)
10 Year Treasury – 3.41 (-0.17/-4.75%)
30 Year Treasury – 4.50 (-0.18/-3.85%)
3 Month LIBOR – 0.31 (UNCHG)
U.S. Public Debt (official) – 14,119,807,822,019.50 (-3,781,485,171.00/-0.03%)
Baltic Dry Index (BDIY:IND) – 1,242.00 (-59.00/-4.53%)

No time this week for extra musings, so I’ll just say – have a great weekend!

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