Week in Review

Quote of the Week

“He seems to have had a lot of time to talk to people. He talked to the Arab League. They had time to get together and vote on it. He talked to the UN. They had time to get together and vote on it, but he had utter disregard and contempt for the most important body in the United States that represents the people, the U.S. Congress. Utter contempt.” – Rand Paul

You Lie, Mr. President

by Justin Raimondo

“We all have our priorities: I have mine, and the President of the United States has his. As an indication of the latter, I note that Obama waited a whole week after deploying US forces before deigning to explain his actions to the American people. He has yet to go to Congress for authorization, although he made sure he cleared it with our pushy allies and the UN Security Council. Having received this double-dispensation, Congress is for him but an afterthought. This is the true meaning of `multilateralism’: world opinion matters, American opinion – not so much.” more… [This is pretty much a point by point refutation of Obama’s asinine speech from the other night. I can’t believe I actually watched it. Reading Obama’s words is bad enough, watching the delivery of them is just awful.]

The New Colonialism: Washington’s Pursuit of World Hegemony

by Paul Craig Roberts

“The al-Qaeda threat, a hoax as likely as not, has become Washington’s best excuse for intervening in the domestic affairs of other countries and for subverting American civil liberties.” more…

The Causes of The Mess We’re In

by Gonzalo Lira

“Had Greenspan not subsidized money, it would have been far too expensive for the Federal government to continue increasing its yearly deficits, and adding to the national debt. A fiscal day of reckoning would have happened a lot sooner—and therefore would have been a lot less painful. It would have been bad, sure—all days of reckoning are bad. But it wouldn’t have been mind-crunchingly destructive—as we all sense the coming crisis will be.” more…

What’s In Your Wallet?

by Silver Shield

“There is a lot of talk about the dollar losing it’s global reserve currency status and what is to replace it. A global reserve currency is a very privileged status that makes our paper fiat dollars the king of all currencies. The dollar represents the currency of the most powerful empire in the world. This dollar allows every nation access into the largest, deepest, and presumably safest markets in the world.” more…

Regulars

  • The Bain Report
  • Failure Friday
  • Zero failed banks this week.
  • Amazon Best Sellers: #1Heaven 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; #2The 17 Day Diet: A Doctor’s Plan Designed for Rapid Results by Dr. Mike Moreno; #3The Land of Painted Caves: A Novel (Earth’s Children) by Jean M. Auel

Other Stuff

And now the numbers…

DOW Jones Industrials – 12,376.72 (+156.13/1.28%)
S&P 500 – 1,332.41 (+18.61/1.42%)
VIX – 17.40 (-0.51/-2.85%)
CSI 300 (China) – 3,272.729 (-21.755/-0.66%)
BSE 500 (India) – 7,464.43 (+234.98/3.25%)
MICEX (Russia) – 1,843.43 (+35.97/1.99%)
BOVESPA (Brazil) – 69,268.289 (+1,502.351/2.22%)
Nikkei 225 (Japan) – 9,708.39 (+172.26/1.81%)
RICI (Commodities) – 4,294.11 (+50.99/1.20%)
Oil/bbl (Brent) – 118.70 (+3.11/2.69%)
Corn/bu – 736.00 (+46.50/6.74%)
Wheat/bu (CBT) – 759.50 (+26.25/3.58%)
Rough Rice (CBOT) – 13.81 (-0.485/-3.39%)
Copper/lb – 425.85 (-16.05/-3.63%)
Gold/oz – 1,428.90 (+1.30/0.09%)
Silver/oz – 37.732 (+0.683/1.84%)
EUR-USD – 1.4237 (+0.0149/1.06%)
USD-JPY – 84.0625 (+2.7197/3.34%)
USD-BRL – 1.607 (-0.055/-3.31%)
USD-HKD – 7.7783 (-0.0168/-0.22%)
NZD-USD – 0.7677 (+0.0143/1.90%)
3 Month Treasury – 0.06 (-0.02/-25.00%)
2 Year Treasury – 0.80 (+0.07/9.59%)
10 Year Treasury – 3.44 (UNCHG)
30 Year Treasury – 4.49 (-0.01/-0.22%)
3 Month LIBOR – 0.30 (-0.01/-3.23%)
U.S. Public Debt (official) – 14,270,114,530,800.40 (+60,042,681,947.30/0.42%)
Baltic Dry Index (BDIY:IND) – 1,520.00 (-65.00/-4.10%)

Well, since I’m very late on this and am also crazy busy, I’ll just say have a great weekend!

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