"When we are the victims of an illusion we do not feel it to be an illusion but reality. It is the same with evil. Evil when we are in its power is not felt as evil but as a necessity, or duty. Once a certain group of people has been placed outside the ranks of those whose life has value, then nothing comes more naturally than murder. As soon as men know they that they can kill without fear of punishment or blame, they kill; or encourage killers with approving smiles." Simone Weil
US equities as represented by the SP 500 are in a cascading waterfall decline that may not reach a genuine bottom until it reaches 640. If the US dollar starts falling with stocks and Treasuries we may see a capital flight that sets up a decline that may not bottom until the SP reaches 444, with high volatility and sharp rallies along the way. The rally from the final bottom will be tentative and slowly expansive with a modest slope.
