19 February 2015

SP 500 and NDX Futures Daily Charts - The Silence of the Elite, The Nakedness of Kings

"Folly is a more dangerous enemy to the good than evil. One can protest against evil; it can be unmasked and, if need be, prevented by force. Evil always carries the seeds of its own destruction, as it makes people, at the least, uncomfortable. Against folly we have no defence. Neither protests nor force can touch it; reasoning is no use; facts that contradict personal prejudices can simply be disbelieved — indeed, the fool can counter by criticizing them, and if they are undeniable, they can be just pushed aside as trivial exceptions.

So the fool, as distinct from the scoundrel, is completely self-satisfied; in fact, he can easily become dangerous, as it does not take much to make him aggressive. A fool must therefore be treated more cautiously than a scoundrel; we shall never again try to convince a fool by reason, for it is both useless and dangerous."

Dietrich Bonhoeffer

"You have repeatedly confessed to-night, by direct avowal or ignorant statement, that you do not know the working class. But you are not to be blamed for this. How can you know anything about the working class? You do not live in the same locality with the working class. You herd with the capitalist class in another locality. And why not? It is the capitalist class that pays you, that feeds you, that puts the very clothes on your backs that you are wearing to-night. And in return you preach to your employers the brands of metaphysics that are especially acceptable to them; and the especially acceptable brands are acceptable because they do not menace the established order of society.

Be true to your salt and your hire; guard, with your preaching, the interests of your employers; but do not come down to the working class and serve as false leaders. You cannot honestly be in the two camps at once. The working class has done without you. Believe me, the working class will continue to do without you. And, furthermore, the working class can do better without you than with you."

Jack London, The Iron Heel
No warning will suffice to powerful fools who, driven mad by hubris and lust for power, weave the hangman's ropes of their own destruction.  They preach the necessity of hardness, and practice the circumvention of the law for themselves and their associates in injustice. 
But when the reckoning comes for them, as it eventually does, they always seem astonished, but unfortunately never to the point of speechlessness.  They will harangue fortune, and all those imaginary enemies who conspired to their downfall, to the bitter end.

The Western elite are in a denial, and a bubble of delusion, so profound that I am concerned that when reality intrudes their reaction will be mishandled, provocative, and likely to hasten a generational change that is already occurring and being fiercely resisted, slowly.

Have a pleasant evening.