"When a war breaks out, people say: 'It's too stupid; it can't last long.' But though a war may well be 'too stupid,' that doesn't prevent it from lasting. Foolishness has a knack of getting its way; as we should see if we were not always so much wrapped up in ourselves. In this respect our townsfolk were like everybody else, wrapped up in themselves; in other words they were exceptional humans: they did not believe in plagues.
A bubonic plague is not made to fit in a man's mind; therefore we tell ourselves that plagues are a mere bogey of the mind, a bad dream that will pass away. But it doesn't always pass away and, from one bad dream to another, it is men who pass away, and the exceptional first of all, because they haven't taken their precautions.
Our townsfolk were not more to blame than others; they forgot to be human, that was all, and thought that everything still was possible for them; which presupposed that plagues were impossible. They went on doing business, arranged for journeys, and formed views. How could they have given a thought to anything like a plague, which rules out any future, cancels journeys, silences the exchange of views. They fancied themselves free, and no one will ever be free so long as there are plagues."
Albert Camus, The Plague, 1947
"One should comfort the afflicted, but also one should afflict the comfortable, especially when they are comfortably, contentedly, even happily wrong."
John Kenneth Galbraith, Observer, 30 July 1989
"The foolish ask nothing better than not to have to understand anything, and they even used to get together and try not to understand, because the last thing of which a person is capable is to be malicious and foolish all by themselves. Without understanding, they form spontaneously into herds, not according to any particular affinities but in obedience to the petty ideology, which swallowed up the whole of their small lives, allotted them by birth or chance. They would far rather kill than have to think."
George Bernanos, Under the Sun of Satan, 1926
Wonderful how easily deluded we may become when it suits us.
As a reminded the December stock market option expiration is tomorrow.
Gold managed to hold its ground today as the Dollar drifted a little higher, taking on the 108 handle.
Silver, not so much. It tends to slump with the equity risk markets.
Stocks tried to bounce after the big slide yesterday, but alas, as the day wore on they gave it all back and finished once more in the red.
Speaking of dreams and delusions, Bitcoin has given up the 100k handle and finished quite a bit lower again today.
One of the more satisfying short positions for all its contrariness. And it did pair nicely with a NDX short. But in delusional markets awash with lawlessness one does not tarry long on the bearish side, unless it's the big one Elizabeth. Probably too soon, but we remain alert to the possibilities.
The markets are sliding into the end of the year which is a tough time to trade given the amount of portfolio jockeying and thin trading volumes that invite the goon squads to throw their weight around.
Do not be deceived, for God is not mocked. What men sow, so shall they reap.
We rationalize and delude ourselves. We choose what to believe, and the facts be damned. Not because we don't know better, but because we have become proud, and forgotten who we are, and think that we can, without consequences.
Have a pleasant evening.
