“You cannot imagine what sorrow and anger seize one's whole soul when a great idea, which one has long and piously revered, is picked up by some bunglers and dragged into the street, to more fools like themselves, and one suddenly meets it in the flea market, unrecognizable, dirty, askew, absurdly presented, without proportion, without harmony, a toy for stupid children.”Fyodor Dostoyevsky, The Possessed
06 August 2014
SP 500 and NDX Futures Daily Charts - The Possessed - 牢人
Stocks caught a bit of a bounce today, swayed here and there by the varying and shifting interpretations of 'just what the heck is going on' in the geopolitical arena.
The failure of stocks to rally despite the light selling volume is not a constructive sign. However, this lack of buying does not in and of itself serve to set up a major decline in the ten percent plus region.
But it does serve to remind one of the fragility, selectivity, and somewhat ephemeral nature of The Recovery™.
How remarkable it is, that there are those who argue fervently for austerity and tough love for others, and how the opposite camp argues just as vociferously and often mindlessly for 'stimulation' and easy money. And both for essentially the same unreformed system that is founded on systemic fraud and officially sanctioned injustice, well covered by a blanket of stealthy stone-walling and bold faced lies.
Is it a surprise that 'easy money' from the Fed is flowing only to the wealthiest few, to the Banks and the corporations that surround them, who use the funds to purchase other companies building even greater monopolies? Is it a surprise that they use it not to produce in the face of stagnant wages and slack demand, to buy back their stocks and pay outsized bonuses and dividends? Is it a surprise that this allows the moneyed interests to continue to provide the huge flow of money to the high priests of official corruption in Washington and London to promote the rights and the primacy of the new corporate godheads.
What a world. These days it is truly a 'burden to be educated,' not only in the sense of having enormous and often unpayable student debts, but to bear the burden of having to think for oneself. It is not easy to be unable to live comfortably, blinded to the lies by the sedation that comes from freedom from thought that a slavish devotion to one ideology or the other offers to those who are among the possessed.
Have a pleasant evening.
Posted by Jesse at 4:26 PM