How you like DEM appers, Hans Brix??
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While the [[SPY]] and it’s brothers [[IWM]] and [[DIA]] continue to melt down this morning in a “Wiener Health Care Epiphany” paroxysm of joy, something odd is going on with my usually dour miners.
They are not doing the D-Wave downshuffle along with the greater market. Usually [[HUI]] and its components, Goldcorp Inc. (USA) [[GG]] , Agnico-Eagle Mines Limited (USA) [[AEM]] , Yamana Gold Inc. (USA) [[AUY]] , Hecla Mining Company [[HL]] , Gold Fields Limited (ADR) [[GFI]] , Kinross Gold Corporation (USA) [[KGC]] and Newmont Mining Corporation [[NEM]] (among others) are getting bashed with the best of them in a dollar up ( [[UUP]] is one metric) and market down environment.
Could it be that precious markets (and maybe the commodity markets in general) are sniffing out the gut-busting dollar explosion that will result in the fatal pillar of the Welfare State being added to our toxic soup should Obamacare gain some ground in today’s six hour tribute to Castro-style grand-standing?
I dunno, all I know is my babies — Silver Wheaton Corp. (USA) [[SLW]] , Eldorado Gold Corporation (USA) [[EGO]] , [[PAAS]] [[EXK]] , IAMGOLD Corporation (USA) [[IAG]] and Allied Nevada Gold Corp. [[ANV]] are showing some resiliancy here. Could be that the Hueys are just oversold and resting up for a new sell off, but this action is not compelling me to give up my sammitch-eating marathon as instituted.
Sure, [[DRR]] is probably a good bet here, as the Euro is a piece of dangling gypsy tchockes (sic) hanging off a sick old Romanian lady’s pleather purse right next to her Molotav-brand cigarette lighter. But if you think a billion plus in new entitlement spending — let’s call it WienerCare if it passes — is going to strengthen the dollar in this new decade, I have some Jimmy Carter brand dental floss ready for delivery to you upon your immediate call. Just pay shipping and handling.
Favourite (sic) pick o’ the day — Eldorado Gold Corporation (USA) [[EGO]] .
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That picture is Awesome.
There are people that make this country, and people who take from this country. Socialism increases the takers!
SOCIALISM: A great idea… until you run out of other people’s money.
I was just given the book “The Law” by Frederic Bastiat. Short volume you can read online if you like.
Victims of Lawful Plunder
Men naturally rebel against the injustice of which they are
victims. Thus, when plunder is organized by law for the profit of
those who make the law, all the plundered classes try somehow
to enter—by peaceful or revolutionary means—into the making
of laws. According to their degree of enlightenment, these plundered
classes may propose one of two entirely different purposes
when they attempt to attain political power: Either they
may wish to stop lawful plunder, or they may wish to share in it.
Woe to the nation when this latter purpose prevails among
the mass victims of lawful plunder when they, in turn, seize the
power to make laws!
Until that happens, the few practice lawful plunder upon
the many, a common practice where the right to participate in
the making of law is limited to a few persons. But then, participation
in the making of law becomes universal. And then, men
seek to balance their conflicting interests by universal plunder.
Instead of rooting out the injustices found in society, they make
these injustices general. As soon as the plundered classes gain
political power, they establish a system of reprisals against other
classes. They do not abolish legal plunder. (This objective would
demand more enlightenment than they possess.) Instead, they
emulate their evil predecessors by participating in this legal
plunder, even though it is against their own interests.
It is as if it were necessary, before a reign of justice appears,
for everyone to suffer a cruel retribution—some for their evilness,
and some for their lack of understanding.
Also–
Read the book “Whatever Happened to Penny Candy” to your kids guys and gals…I just did and wish some older members of my family would have sat me down and read it to me as a young lad.
Bastiat is a libertarian economists’ hero. You should read “The Broken Window Fallacy” to note one of his best and most famous responses to “Stimulus Bills.”
Hayek’s “Road to Serfdom” is another must read, and anything you can get From the Mises Institute at Mises.org is also great education.
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I have strong libertarian tendencies (yes, yes, I know I’m also a leftist bastard), but I still can’t reconciliate how unregulated, free markets often lead to their own demise, through the formation of monopolies, which then have a tremendous amount of power over everything. Any thoughts?
There’s no such thing as monopolies without state interference. If you can remember that, you will be on your first step down the freedom trail. Disruptive innovation is too strong a force to be corralled without the arm of the State setting regulatory barriers in the way of competition.
Been true since the beginning of time. In order to have true “Free” markets, you must have first, strong property rights, and second a strong rule of law where all competitors are treated equally.
What we have today in the US is approaching fascism because the large corps are in league w. gov’t to restrict competition.
Note how MSFT and GOOG finally “got with it” and started sending lobbyists to Washington very recently?
The game is rigged that way for one reason alone — Congress has allocated itself too much power in the private economy. Unfortunately, with our consent (read Jayhawk’s “The Law’ summary above to see why).
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Thanks, I’m a member of Mises, great organization. They put on a great conference out here in CO last year. You can watch these conferences on Youtube…The one was great-
Why You’ve Never Heard of the Great Depression of 1920
http://www.youtube.com/watch?v=czcUmnsprQI
LOL…Just watched the first part and I’m the guy in the audience right when the camera starts rolling in the dark blue shirt who talks briefly to the dude to my right.
I should join that group.
Colorado needs to get more conservative again…
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Yes sir. I live in the Springs, which is about as conservative as you can get in this country. But we have had massive CA migration into the state over the past several years and our politics have reflected it.
My comments above regarding Mises said the word “great” about twenty times…I guess I’m impressed,eh?
That’s you in the very beginning talking to the guy w. the long hair, light blue shirt and laptop?
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Yep!
The gist of the presentation-
Our approach to the financial crises in 1920-cut spending, cut taxes, no monetary intervention, no govt intervention…which caused a potential depression to be turned around within 12-18months
Yes, was watching it for about ten minutes when youtube inexplicably busted down on me.
Damn msft products.
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I like this one review from Amazon of The Law-
Every legislator should be forced to read Bastiat’s The Law once a month for their entire term and write a synopsis of how they have upheld the ideas contained within it. The tome should be taught in our school systems. It should be drilled into every citizen’s head from birth until death.”
When he was alive, Bastiat called the United States the one nation in the world that came close to applying law in a just manner. If he could visit us today, he would puke all over the steps of Congress. He would barf in the halls of the White House. He would upchuck in lobbyists offices all over Washington, D.C. When he was done throwing up, I do believe Bastiat would start a revolution.
and this one–
I read this book in 1980; at the time I was chairman of the democratic party in my county. I really began to do some serious soul searching. I finally concluded I was going to leave my party, as It no longer represented it’s founder Mr Thomas Jefferson. This small simple easy to read book totally changed my life That same year I met Jim Hansen, he was making his first run for congress from the state of Utah, I made a deal with him, I would vote for him if he would read The Law by Bastiat. He promised, and I did. I received a nice letter from Jim after he was elected. ” Never read a book that has so impressed me”. P.S. “Find Yourself another copy, Im keeping Yours”. Jim.
Best three dollars ever spent. Ron Steele Moab, Utah
I like FRG myself Jake,but yeah….YES WE CAN!
FRG has been beaten up badly this past week… it deserves a break today. Still consider it a “junior-junior” but worth the spin of the wheel, no question.
EXK showing similar rebound action.
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Look you, perma Obama bashers ! –
{Rant ON}
Iinsurance rates are going up drastically across the country, from 20% to 39%, and a reason quoted today from the insurance industry was that “because many people have lost their jobs and aren’t paying their premiums, and medical and pharmaceutical costs are rising, the insurance costs have to rise too.”
And just why have so many people lost their jobs, why are medical and pharmaceutical costs rising? Oh, I know, it’s because…Obama became the president a little more than a year ago, right? I mean he’s the cause of all of the troubles, isn’t he? It had nothing to do with the vicious, anti-humane, war-mongering, strictly pro-business, corporate welfare, bank favoring, Bush administration’s policies…would it? Or with the policies of any of the previous administrations, huh?
Nope. Now, with any chance of reasonable health care virtually demolished, and with the infantile, uncooperative, easily manipulated population just salivating at the opportunity to put morons and moral midgets like Sara (“Hey, why don’t we bomb Iran after lunch?”) Palin in office, the opportunity to really plunge the country into strife, dissolution, etc. under unlimited corporate and religiously deluded political control is gathering steam.
When human beings are too stupid and selfish to understand that finding a way of providing health care that would be fair, workable and beneficial to all requires cooperation and putting the interests of all above those of lobbyists, insurance companies, politicians and other criminals, then those people will surely get exactly what they want…and damn well deserve. Unfortunately, it’s the rest of the people that will suffer for it too.
And isn’t it just a bit funny that a country that makes such a huge business of perfecting never ending war and destruction of mostly innocent people…hasn’t figured out how to provide how to provide life-giving care for its citizenry?
But I guess that’s “Obama’s fault” too.
{Rant OFF)
yeah, the PM’s look like they’re digging in .. fab earnings fm NEM … could be the goto blue chip of the group
Bruce, go to the mirror, and repeat… slowly
“Socialism is NOT the answer”
Repeat as necessary.
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PS — the “morons and mental midgets” are ALREADY in office, and they seem to think socialism IS the answer.
If you vote with them, you’ve only yourself to blame when you can’t get a doctor’s appt in your senior years.
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I don’t get it. Socialist countries suck at a lot of things, but medicine isn’t one of them. Coming from an Eastern European socialist country myself, I can attest to the fact that medicine was on a quite advanced level. The problem isn’t the socialized medicine, it’s paying for it. Most bureaucracies spend more on themselves than on what they are supposed to govern, but there are notable exceptions, such as some of our Canadian provincial health systems which are quite well run and don’t cost more in total than private insurance would.
Besides, 99% of the stuff you bash applies more to fascism than socialism. Or do you agree with state control if it’s from a right-wing angle?
Fascism is socialism’s dolled up sister. In my book there is little difference. Each of them ends with the dominance of the State.
As for you pleas for the wonders of socialized medicine, none of it would be possible were it not for the robust — capitalist — US innovation system which constantly researches and delivers new drugs at incredibly high risk and cost to entreprenuers seeking large returns. Without it, progress grinds to a halt, and you have Eastern European ward hospitals, zero economic growth, and declining lifespans.
Ironic, no?
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“I can attest to the fact that medicine was on a quite advanced level.”
Are you referring to the East German Olympic swimmers who were engineered to look like Arnold?
The question, really is, where did the advancement come from?
Innovation changes all medicine as we do not hold back the advances cooked up here from the socialist systems that benefit from them over there.
It certainly begs the question, however… where will the advancements come from if the incentive system is destroyed?
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no socialism is not the answer and I disagree with much of what’s going down ….. however obama did not/can not ruin the country in one year … all this started way before he got there … and all this Obama trashing/bashing is more symptomatic of tough times and lets blame someone rather than ourselves
Bruce, no one would be “trashing” Obama if he were doing the right thing and concentrating on the economy (or at least letting the people in the private sector alone long enough to concentrate on the economy) rather than using this “crisis” (Rahm Emmanual’s word, remember?) to push the country in a permanent — and permanently economy crippling — leftward direction.
You don’t get out of a hole by digging further downward, even a child knows that.
His only other excuse, therefore, is the aggregation of power, and for that, he deserves bashing.
Two times.
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So what’s your solution? I’m really interested, because you’re a smart guy. I expect better than the usual “tax cuts balance the budget” Reaganomic Tea-party bullshit.
Spending needs to be cut drastically. I think the politicians have to be honest and say — “we fucked up massively, NO social security for you, but we have to pay off grandma here cause we don’t want her selling apples in the street.”
Same with Mediscam. Both are massively misinforming the market, especially the latter, which keeps the flow of real prices in the medical arena from being properly allocated. I know, as I’ve been funding companies that stay one step ahead of Mediscam for years now. It’s all about gaming the bureaucrats, and it’s massively wasteful,
You see, our problem is that gov’t is already the 60 some odd percent payor in our market. That forces prices on everyone else non-gummint supported to go UP.
You may say that’s a bad thing, but it’s better than the alternative, which is prices remaining flat and SUPPLY leaving the market.
That is the end we do not want under ANY circumstance, and that’s the guaranteed end under Obamacare.
If anything, we need to increase supply… we need MORE doctors, not less, and less bureaucracy and market disintermediation.
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Lots of green on my screen – yet SPY still getting hit
I bet we break higher
CAN 7 – RUS 3
Get ready for it UNCLE FUCKER. the first game was just a warm up
First our womens team and then the mens
I have little interest in women’s sports, but I acknowledge your dominance in hot chick ice dancing.
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Too bad, Canadian women rocked it yesterday! 1 Gold, 2 Silver, and 1 Bronze.
Yes, Canuckistanian maidens are uniformly comely, as a bonus. Even your bobsled babes, who were almost consistently uggos from every other country (including ours — shudder) were decent looking.
I’ve already mentioned your ice dancing princess, of course.
Funniest Canuckistanians are the short track speed skaters. They are all huge and have long hippy hair while everyone else in the field is tiny and Asian (even the US skaters).
Whatsupwitdat?
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Most of the short track speed skaters are a special brand of Canuckistinian – they’re mostly Quebecers. It must be the poutine.
Les Quebecois… 95% of the reason for the nickname “Canuckistan.”
Every time I hear that doofus announcer saying something in French first and then English, I have to laugh.
The best is the fact that your Natty Anthem is in ENGLISH. ROFL, tres apologiques, Monsieur Beret!
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Actually there is a French version , as well as a bilingual version of the national anthem.
Canadian women just scored by the way.
Go Canada!!
GIRL POWER!!!
Have not looked at the Canadian womenses hockey players yet…
Yes, I realize that there’s likely a French version of the Natty (how could there NOT be, monsieur?).
I just thought it was funny that they were only playing the English version for your (admittedly rare) gold medal turnouts.
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I believe they only play the instrumental. It’s the crowd that sings the English version.
Oh, and for the record, Canada, USA, and Germany are tied for 1st place for # of gold medals won so far (7 each).
GOOOOOOOAAAAAAAAALLLLLLLLLL!!!!!!!!!!!!!!
2-0!!
I love buggin’ ya 🙂
No fears. Women’s hockey is not going muss my hair much.
‘Sides, we already won the important game. 😉
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Bah, that was just a warm-up game, doesn’t count 😛
Besides, I don’t really care for men’s hockey (unless they win of course)
I’m more vested in how my sistah’s are doing.
Girl Power!!
GOOOOOOOOOOOOOLLLLLD!!!!!!!!!!!!!!!!!!!!
GO CANADA GO!!!
You like MON down heah or recommend more sammiches until furthur notice?
I like MON on a permanent (ie, very long term) basis, but never advise buying falling knives.
No real damaging news out there (EU reports GM crops down about 13k hectares, while worldwide GM seed usage up 9mm hecatares)… but you never know til you hear it…
FWIW, I’ve got support at $69.88, then $66.58 and then $63.48. I’d put stops under each (well, I wouldn’t, but I’ve been buying from $17).
ANDE looks quite good here, so it’s not the ags.
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Thnx …. was gunna add some @ $70 … I’ll watch it awhile longer for news.
$70 will likely be fine.
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Interesting day, China be buying dat IMF gold?
GS dismounted the bull yesterday, so perhaps we needed one of the biggest gold bugs out there to capitulate so this thing could rocket higher?
Very encouraging action today on these precious metals…Glad I held on for now.
SWC———->> 18-20 (within 12 months)
Indeed!
JJ ? Is that you??
😉
Nice moves today on SWC, will keep an eye on its untrustworthy ass.
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I too am a proponent of “girl power.”
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Rachel Flatt just got robbed…. let’s see if anyone goes ass down, as it looks like otherwise, “le fix is in.”
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Okay this Kim Yu-Nah chick from Korea is … pretty freaking good.
More than that, really.
Holy schiess, world record scores… by quite a bit.
________
She’s awesome
Wifey says: “This next little Japanese babe better have some Crouching Tiger, Hidden Dragon secret shit in her bag of tricks….”
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More graceful… if slightly flawed.
Next comes the WWF wrestler from Canuckistan.
Girl power, no doubt.
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Not sure if this’ll work, but I’ll give it a shot:
http://www.glitter-town.com/power-puff-girls-myspace-glitters/power-puff-girls-myspace-glitter-graphic-10.gif
(I’m the one in the middle)
And another medal for us!
Is NBC talking about how her mother just died on Sunday?
I want her gender tested.
Of COURSE they’re talking about the drama thing. Kermie was totally verkllempt.
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Don’t mess with my girl!!
You forgot the quotation marks.
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OK, I chuckled on that one 🙂
It’s the poutine!
My theory is that they need three commentators for these things because Scott Hamilton (we call him “Kermie” short for “Kermit the Frog”) – the ostensible “color guy” — is constantly verklempt and waving away the director’s attempt to get him to make comment.
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I’m watching it on CTV, we have good commentators 🙂
I know you’re not a fan of his, but I thought this was hilarious:
http://www.youtube.com/watch?v=bFbY4w2r2c4
From the Newsbot3000 …. Gold vs Base Metals:
http://pragcap.com/gold-vs-base-metals-through-the-eyes-of-the-five-ws