"There is felt today very widely the inconsistency in this condition of political democracy and industrial absolutism.The people are beginning to doubt whether in the long run democracy and absolutism can coexist in the same community; beginning to doubt whether there is a justification for the great inequalities in the distribution of wealth, for the rapid creation of fortunes, more mysterious than the deeds of Aladdin’s lamp...Our government teaches the whole people by its example. If the government becomes the lawbreaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy."Louis D. Brandeis
Markets held on to some minor gains on light volumes.
It is interesting how blithely the financiers and their engineers at the Fed and their courtiers in the government are taking us into one of the worst earnings seasons since 2009 with equity and bond valuations at bubble levels.
Or just another cynical turn of the screws on the middle class?
Is there is a single Western financial asset market left with some level of price discovery and integrity?
Is it that they have no sense, or no shame? Are they sociopaths? Have they killed their conscience, and turned their very hearts to stone?
Is there anyone in a leadership position who cares about the legacy we are leaving for our grandchildren?
Or at least more than they worry about how much plunder they can pile into their own bunkers before the financial system implodes again?
Or at least more than they worry about how much plunder they can pile into their own bunkers before the financial system implodes again?
What are they thinking? Do they think that there will be no reckoning for their crimes? Ever?
I seriously wonder if there is not a kind of madness sweeping the privileged and the powerful, those who imagine themselves to be exceptional, to be above the law.
Have a pleasant evening.
