"Evil when we are in its power is not felt as evil but as a necessity, or even a duty. As soon as we do evil, the evil appears as a sort of duty. Once a certain class of people has been placed by the authorities outside the ranks of those whose life has value, then nothing comes more naturally to men than murder. As soon as men know they that they can kill without fear of punishment or blame, they kill; or at least they encourage killers with approving smiles."
Simone Weil, 1947
07 February 2015
US Equities: Rich Valuations, Insiders Selling
Stocks seem to be rather fully valued in expectations of The Recovery™.
Happy days are here again.
For some.
Central Banker's Joke
Q. How many monetary policy errors does it take to destroy the world's greatest middle class?