"The truly savage and frenetic part of New York, the terrible, cold, cruel part, is Wall Street. Rivers of gold flow there from all over the earth, and death comes with it. There, as nowhere else, you feel a total absence of the spirit: herds of men who cannot count past three, herds more who cannot get past six, scorn for pure science and demoniacal respect for the present.
And the terrible thing is that the crowd that fills this street believes that the world will always be the same, that it is their duty to keep that huge machine running, day and night, forever.
I was lucky enough to see with my own eyes the recent stock-market crash, where they lost several billion dollars, a rabble of dead money that went sliding off into the sea. Never as then, amid suicides, hysteria, and groups of fainting people, have I felt the sensation of real death, death without hope, death that is nothing but rottenness, for the spectacle was terrifying but devoid of greatness.
I felt something like a divine urge to bombard that whole canyon of shadow, where ambulances collected suicides whose hands were full of rings."
Federico Garcia Lorca, A Poet In New York, October 1929
"Whoever acquits the wicked, whoever condemns the just, are all an abomination to the Lord."
Proverbs 17:15
“The mob believes everything it is told, provided only that it be repeated over and over. Provided too that its passions, hatreds, fears are catered to. The grosser, the bigger, the cruder the lie, the more readily is it believed and followed. The mob has no memory; needless to pretend to any truth: the mob is radically incapable of perceiving it: the mob can never comprehend that its own interests are what is at stake.”
Alexandre Koyré, Réflexions sur le Mensonge, March 1943
"And Abraham said, ‘If they do not listen to Moses and the Prophets, they will not reform and repent, even if someone rises from the dead.’”
Luke 16:31
As you probably heard by now the Jobs Report came in shockingly low. Stunningly bad.
Treasury yields on the short end plummeted, and took the dollar with them.
Gold and silver rallied to the upside.
Initially stocks rallied on the expectations of a rate cut at the next Fed meeting later this month.
But then the wiseguys thought about it and decided to sell, sell, sell.
I mean, what good are rate cuts if the economy is imploding, which is what such a low reading implied.
And so we had some wide ranging highs and lows in several of the markets.
I believe that Donnie and his Merry Pranksters are going to crash the economy, among other things, including the ruin of many poor souls.
Try not to become one of them in your pride and your blindness.
Its like watching drunk grandpa driving the car while he shakes his fist, yelling at the other drivers, pedestrians, dogs, cats, and mailboxes.
But that is something for another day.
Need little, want less, love more. For those who abide in love abide in God and God in them.
Welcome to September.
Have a pleasant evening.
