Week in Review

A Beginner’s Guide to the European Debt Crisis

by Gonalo Lira

“For ordinary, non-specialist people just tuning in to the horror-show which is the European crisis, the whole mess can seem daunting and almost hermetic—almost like a secret language, or a really complicated code.” more… [This is worth a read.]

Taking Executive Orders Too Far

by Ron Paul

“This may be news to the supposed constitutional scholar who is now our president, but if the political process seems inconvenient to the implementation of his agenda, that is not a flaw in the system. It was designed that way. The drafters of the Constitution intended the default action of government to be inaction. Hopefully, this means actions taken by the government are necessary and proper. If federal laws or executive actions can’t be agreed upon constitutionally- which is to say legally- such laws or actions should be rejected.” more…

Understanding the Price of Money

by Robert P. Murphy

“In a money economy, the money commodity is on one side of every transaction, and hence reduces the number of relevant prices. The direct exchange ratio between any two commodities can easily be computed from their respective money prices. The `price’ or purchasing power of money is the array of goods and services for which a unit of money can be exchanged.” more…


Other Stuff

And now the numbers…

DOW Jones Industrials – 12,153.68 (+170.44/1.42%)
S&P 500 – 1,263.85 (+10.62/0.85%)
VIX – 30.04 (-0.12/-0.40%)
CSI 300 (China) – 2,695.002 (-68.744/-2.49%)
BSE 500 (India) – 6,585.87 (-156.21/-2.32%)
MICEX (Russia) – 1,484.97 (-16.21/-1.08%)
BOVESPA (Brazil) – 58,546.97 (-122.95/-0.21%)
Nikkei 225 (Japan) – 8,514.47 (-286.93/-3.26%)
RICI (Commodities) – 3,754.70 (+10.33/0.28%)
Oil/bbl (Brent) – 114.16 (+2.19/1.96%)
Corn/bu – 647.75 (-8.00/-1.22%)
Wheat/bu (CBT) – 646.00 (+9.25/1.45%)
Rough Rice (CBOT) – 15.22 (-0.905/-5.61%)
Copper/lb – 348.30 (-8.15/-2.29%)
Gold/oz – 1,788.10 (+32.00/1.82%)
Silver/oz – 34.682 (+0.598/1.75%)
EUR-USD – 1.3807 (+0.0015/0.11%)
USD-JPY – 77.1213 (-1.1182/-1.43%)
USD-BRL – 1.7435 (-0.0083/-0.47%)
NZD-USD – 0.7894 (-0.0044/-0.55%)
3 Month Treasury – 0.00 (+0.01/-100.00%)
2 Year Treasury – 0.23 (+0.01/4.55%)
10 Year Treasury – 2.06 (+0.03/1.48%)
30 Year Treasury – 3.13 (+0.04/1.29%)
3 Month LIBOR – 0.46 (+0.02/4.55%)
U.S. Public Debt (official) – 14,973,303,402,600.00 (+74,794,200.00/0.00%)
Baltic Dry Index (BDIY:IND) – 1,835.00 (+51.00/2.86%)


Not too much going on around here. Thought I’d watch some football today, but that’s been largely a no go, although I can see that the Broncos are winning. Wonderful Wife has worked all weekend and Little Bear and I have been hanging out. Went to Cabella’s yesterday, looked at all of the fish, and shopped around. Mainly I needed a pair of gloves, you know, for shoveling the snow that is about to come. Today we’ve mainly watched TV: Peppa Pig, Harry Potter, Ponyo, and some football. She’s sleeping now. I’m headed back to watch football and read a bit. New baby is going to be here in just a couple of weeks!

Have a great week!

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