Quote of the week
“A bankrupt government is suing on behalf of two bankrupt quasi-government firms… hoping to recover money from bankrupt banks that were already bailed out once by the aforesaid bankrupt government… and as a consequence may yet need to be bailed out again.” – Addison Wiggin on the FHFA lawsuits
“Who would be APPOSED [sic] to this plan? No one that I can think of. DeMarco would be able to say that the plan protects the taxpayers from future losses. Obama would say that he has created a new stimulus of $85 billion a year. Bernanke would love this plan. He would be `Forced’ into buying a new big amount of Treasuries. He would have his excuse for QE3 handed to him. That the Fed would be forced to absorb new risk of loss to rising interest rates is of no concern to the Fed. They are in so deep today, another $1 trillion of notional risk would not change the picture. Keep in mind that the Fed is very anxious to pull the next trigger.” more… [Backdoor QE3 would be pretty easy to pull off.]
by Eric Margolis
“China’s military is hard at work on satellites, long-range backscatter radar, submarines, and drones that can identify moving naval targets up to 3,000 km distance. These overlapping sensors will provide accurate, real-time targeting data for the DF-21D and other shorter-ranged sea, air and land-based anti-ship missiles.” more…
- Traveling with an old guitar could wind you up in some serious trouble.
- A hurricane is NOT economic stimulus. It’s a wealth destroying disaster.
- Shipping containers as a platform for hydroponic urban farming.
- Hurricane Irene tests the resilience of communications networks.
- Sugar Baby seeks Sugar Daddy. The world of high-end online prostitution.
- A painting of some Chase branch bank burning, whose creation caused quite a stir for the artist, is up for sale.
And now the numbers…
DOW Jones Industrials – 11,240.26 (-44.28/-0.39%)
S&P 500 – 1,173.97 (-2.83/-0.24%)
VIX – 33.92 (-1.67/-4.69%)
CSI 300 (China) – 2,803.854 (-97.362/-3.36%)
BSE 500 (India) – 653,808.00 (+647,615.97/10458.86%)
MICEX (Russia) – 1,515.89 (+57.05/3.91%)
BOVESPA (Brazil) – 56,531.62 (+3,180.83/5.96%)
Nikkei 225 (Japan) – 8,950.74 (+152.96/1.74%)
RICI (Commodities) – 3,958.80 (+23.92/0.61%)
Oil/bbl (Brent) – 112.33 (+1.25/1.13%)
Corn/bu – 760.00 (-7.00/-0.91%)
Wheat/bu (CBT) – 775.50 (-21.50/-2.70%)
Rough Rice (CBOT) – 18.225 (+0.915/5.29%)
Copper/lb – 412.45 (+0.80/0.19%)
Gold/oz – 1,876.90 (+50.20/2.75%)
Silver/oz – 43.069 (+1.809/4.38%)
EUR-USD – 1.4205 (-0.0287/-1.98%)
USD-JPY – 76.8018 (+0.1133/0.15%)
USD-BRL – 1.6411 (+0.0392/2.45%)
NZD-USD – 0.8481 (+0.0084/1.00%)
3 Month Treasury – 0.02 (+0.03/-300.00%)
2 Year Treasury – 0.20 (+0.01/5.26%)
10 Year Treasury – 1.99 (-0.20/-9.13%)
30 Year Treasury – 3.30 (-0.24/-6.78%)
3 Month LIBOR – 0.33 (+0.01/3.13%)
U.S. Public Debt (official) – 14,697,414,789,600.00 (+43,866,903,200.00/0.30%)
Baltic Dry Index (BDIY:IND) – 1,740.00 (+158.00/9.99%)
This week was pretty busy, I was working on the last feature for the newest release of Comet. In fact there is still some things left to do, which will have to wait until next week. Meanwhile, this weekend, I have been working on the technical aspects of a research proposal that is due Thursday.
On the home front, it appears that Baby Girl – she shall now be known as Little Bear – has begun to use her potty. In fact just this morning she sat down for #2. When it got put in the toilet and it was flushing, she says “bye bye poo poo”. I got a chuckle out of that.
Wonderful Wife and the New Baby are doing well. She’s due around Thanksgiving time.
We’ll be in Albuquerque soon, so if anyone wants to visit drop me an email. I won’t discuss our exact dates except privately.
I didn’t find too many good articles on my normal beat this week, mainly because I didn’t read too much. On the other hand, there are some really interesting things in the “Other Stuff” section. Particularly impressive is the hydroponic container farming.
Anyway, it looks like it’s back to work.
Have a nice weekend.