Week in Review

Quote of the week

“Smile. Take a deep breath. Don’t panic.” – Me

Fed Up With Freeloaders

by Patrick J. Buchanan

“Gates’ patience with the Europeans is, understandably, just about exhausted. Two decades after the Soviet Union disintegrated and the Red Army went home, America is still carrying 75 percent of the NATO burden for the defense of Europe.

“Only five of 28 members invest in defense the 2 percent of gross domestic product required by NATO rules. Major members like the Netherlands, Spain and Turkey refuse to fly air strikes in Libya. France and Britain have run so low on munitions in a war against a sandbox country on the African coast that they have had to borrow U.S. munitions. Germany and Poland are AWOL.” more…

The State or the People: Who Is Sovereign?

by John Tyner

“[T]he notion that the states were independent, sovereign nations is not foreign to me. It has always been my understanding that the U.S. Constitution was not an act of the states giving up their sovereignty to create a central government but rather one of delegating some of their authority to the federal government in order to smooth and strengthen economic and/or foreign relations. The reason they delegated the authority is not important; what is important is that the authority was delegated, not relinquished. What was foreign to me was what this reader said next: [T]he people of each state are the state’s true ruling sovereigns […] and all government was simply their delegated representatives, not appointed supreme sovereign rulers. Therefore, the People of a state could exercise their national sovereign authority, to overrule those delegates at any time—just like the King of England could overrule his ambassadors.more… [The later notion can be read about at length in a book entitled Inventing the People.]

Lawmaker Seeks More Transparency for SWAT Team Raids

by Ken Braun

“The part-time mayor of an upper middle class Maryland suburb of Washington, D.C. found himself and his mother-in-law handcuffed in his own home by a Prince George’s County SWAT team one July evening three years ago. His two black Labrador retrievers had been shot dead, the second one from behind as it fled the officers who had broken into the home in a ‘no knock’ raid as part of a drug investigation. Five months later, Berwyn Heights Mayor Cheye Calvo and his entire family had been cleared of all wrongdoing and suspicion, but the county police were still refusing to provide documentation to justify why they had violently entered the home of an innocent man.” more…

Feds vs Feds: Obama Sued for Unconstitutional War

by Jeff Matthews

“Dennis Kucinich, Walter B. Jones, John Conyers, Jr., Roscoe Bartlett, Michael E. Capuano, Dan Burton, Howard Koble, John J. Duncan, Jr., Timothy V. Johnson and Ron Paul are filing suit against Barack Obama and Robert Gates for violating the U.S. Constitution in connection with military actions and Libya.” more… [Rand Paul had this to say.]

Regulars

Other Stuff

And now the numbers…

DOW Jones Industrials – 12,004.36 (+52.45/0.44%)
S&P 500 – 1,271.50 (+0.52/0.04%)
VIX – 21.85 (+2.99/15.85%)
CSI 300 (China) – 2,892.157 (-69.775/-2.36%)
BSE 500 (India) – 7,010.89 (-140.93/-1.97%)
MICEX (Russia) – 1,645.82 (-38.14/-2.26%)
BOVESPA (Brazil) – 61,059.98 (-1,637.18/-2.61%)
Nikkei 225 (Japan) – 9,351.40 (-163.04/-1.71%)
RICI (Commodities) – 3,954.70 (-184.09/-4.45%)
Oil/bbl (Brent) – 113.21 (-5.57/-4.69%)
Corn/bu – 660.00 (-52.50/-7.37%)
Wheat/bu (CBT) – 708.00 (-51.25/-6.75%)
Rough Rice (CBOT) – 14.925 (+0.03/0.20%)
Copper/lb – 412.10 (+4.55/1.12%)
Gold/oz – 1,539.10 (+9.90/0.65%)
Silver/oz – 35.748 (-0.579/-1.59%)
EUR-USD – 1.4306 (-0.0041/-0.29%)
USD-JPY – 80.0455 (-0.2775/-0.35%)
USD-BRL – 1.5978 (+0.0007/0.04%)
NZD-USD – 0.8128 (-0.0086/-1.05%)
3 Month Treasury – 0.03 (-0.01/-25.00%)
2 Year Treasury – 0.37 (-0.03/-7.50%)
10 Year Treasury – 2.94 (-0.03/-1.01%)
30 Year Treasury – 4.20 (+0.02/0.48%)
3 Month LIBOR – 0.25 (UNCHG)
U.S. Public Debt (official) – 14,344,571,286,149.90 (-66,863,660.5996/-0.00%)
Baltic Dry Index (BDIY:IND) – 1,423.00 (+5.00/0.35%)

Sorry, no time to write this week! Have a great week!

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