Week in Review

Quote of the week

“By printing money the problems are not solved but they can be postponed and they become larger. … The next time we have a global economic crisis it will be much worse than 2008. Before this happens there will be money printing and war.” – Marc Faber

A Free-Market Sovereign Debt Manifesto

by Ron Holland

“Some economists and political experts believe the only way out of the deepening recession is for Greece to now withdraw from another empire, the European Union, and to repudiate the EU and sovereign debts, primarily to German banks. This would require the restoration of the independent Greek currency, the Drachma, and would likely create another short-term drop in the Greek economy as was previously created by the earlier EU austerity demands.” more…

How Statism Is a Sickness, and Not Just a Destructive Political System

by Scott Lazarowitz

“The irresponsible oinkers in Washington have raised the debt ceiling once again, and the Federal Reserve will go on to print more money and cause more price inflation that will lead to more impoverishment, crime and civil unrest. The criminal mob violence that some have predicted has begun at the Wisconsin State fair, and in England – those of the lower economic scale are committing wanton acts of violence because they can. That will be followed by an increasingly hungry and desperate middle class doing the same. Statism has caused the devolution of Western civilization.” more…

Surveillance Self-Defense

by The Electronic Frontier Foundation

“The Electronic Frontier Foundation (EFF) has created this Surveillance Self-Defense site to educate the American public about the law and technology of government surveillance in the United States, providing the information and tools necessary to evaluate the threat of surveillance and take appropriate steps to defend against it.” more…

The Easiest Way to Succeed as an Entrepreneur

by James Altucher

“I was the worst pizza delivery guy. Fraternity guys would chase after me as I was peeling out of their driveways after a delivery. Why? The sauce and cheese fell all to one side. I couldn’t help it. I also never got tips. Wende, my partner in our restaurant delivery business, always got tips. But she was beautiful, blonde, great smile, had personality, etc. And I secretly loved her. I couldn’t compete. I always hoped I would deliver to a frat party where all the girls were running around naked. But that never happened.” more…

Regulars

Other Stuff

And now the numbers…

DOW Jones Industrials – 11,269.02 (-175.59/-1.53%)
S&P 500 – 1,178.81 (-20.57/-1.72%)
VIX – 36.36 (+4.36/13.62%)
CSI 300 (China) – 2,875.365 (-22.052/-0.76%)
BSE 500 (India) – 6,629.50 (-159.17/-2.34%)
MICEX (Russia) – 1,470.56 (-116.44/-7.34%)
BOVESPA (Brazil) – 53,473.352 (+524.133/0.99%)
Nikkei 225 (Japan) – 8,963.72 (-336.16/-3.61%)
RICI (Commodities) – 3,816.94 (-10.83/-0.28%)
Oil/bbl (Brent) – 108.03 (-1.34/-1.23%)
Corn/bu – 714.50 (+11.50/1.64%)
Wheat/bu (CBT) – 732.25 (+9.25/1.28%)
Rough Rice (CBOT) – 17.13 (+0.835/5.12%)
Copper/lb – 403.35 (-8.35/-2.03%)
Gold/oz – 1,742.60 (+90.80/5.50%)
Silver/oz – 39.114 (+0.903/2.36%)
EUR-USD – 1.4248 (-0.0034/-0.24%)
USD-JPY – 76.715 (-1.685/-2.15%)
USD-BRL – 1.6117 (+0.0356/2.26%)
NZD-USD – 0.8322 (-0.0112/-1.33%)
3 Month Treasury – 0.01 (UNCHG)
2 Year Treasury – 0.19 (-0.10/-34.48%)
10 Year Treasury – 2.25 (-0.31/-12.11%)
30 Year Treasury – 3.73 (-0.12/-3.12%)
3 Month LIBOR – 0.29 (+0.02/7.41%)
U.S. Public Debt (official) – 14,587,911,305,996.00 (+22,941,138,286.60/0.16%)
Baltic Dry Index (BDIY:IND) – 1,287.00 (+19.00/1.50%)

 

 

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