"The even larger problem is that there is a kind of chronic complacency that has been rotting American liberalism for years, a hubris that tells Democrats they need do nothing different, they need deliver nothing really to anyone – except their friends on the Google jet and those nice people at Goldman.
The rest of us are treated as though we have nowhere else to go and no role to play except to vote enthusiastically on the grounds that these Democrats are the 'last thing standing' between us and the end of the world.
It is a liberalism of the rich, it has failed the middle class, and now it has failed on its own terms of electability."
Thomas Frank, Liberals Put Trump In the White House
"Those powerful few who use public and private resources to twiddle the markets in the short term, and quite a few other data metrics as well, are giving their brethren who were caught offsides by last night's election a chance to square up and get ready. That's what they do.
They bought the SP 500 futures for stocks, and sold paper gold and silver for the metals.
And they wished to send all the rest of us a message— vote all you like, but we are still in control."
Jesse, Credibility Trap: Deny and Defy
“There are too many things we do not wish to know about ourselves.”
James Baldwin, The Fire Next Time
Audacious!
There was intraday commentary on the huge swing in gold from last night to this afternoon here.
There was also some commentary about the surprising sweep for Trump in the elections last night here.
The swing in the US dollar was equally impressive as you can see in the first chart below.
And of course, I have updated my tracking chart of the Imperial Presidents. lol
In keeping with custom, the new President should have roughly 100 days grace in his new position to show his hand. We should be watching his key appointments to the cabinet and agencies very, very carefully.
As you may recall, Obama tipped his hand back in 2008 in the first month or so, and did not even make it to 100 days before it was fairly clear what he was all about: serving Wall Street and the Banks.
In other words, if the plutocrats let this surprising election win of the presidency and both houses go to their head and do the wrong things in their selfish pride, there will be hell to pay.
I disliked both of the major party candidates almost equally, despite the ardent 'lesser of two evils' argument being promoted once again by the punditry of the status quo.
I chose a third way for myself strictly as an act of conscience. But I suspect quite a few people looked at the situation, and rather than picking the lesser of two evils, they settled this time for the newer.
Along with many other commentators, I have characterized last night's election surprise as Son of Brexit.
There will be more of this sort of dislocating change in the status quo coming. Keep an eye on Europe.
The woods decay, the woods decay and fall,As for gold and silver, I think we saw the impulse to treat them as safe havens fairly clearly last night, no matter what price shaping with the overnight trading that the pigmen may perform. In the short term they are surely able to foster confidence in their shenanigans with our markets and money.
The vapours weep their burthen to the ground,
Man comes and tills the field and lies beneath,
And after many a summer dies the swan.
Alfred Lord Tennyson, Tithonus
But as we saw clearly in the election surprises this year, after many a Summer dies the swan.
The delivery reports were a non-entity, and the warehouses were a bit of a snooze, with Hong Kong standing out a bit with another big slug of bullion going walkabout.
Have a pleasant evening.
Related: Thomas Frank, Donald Trump Is Moving To the White House and Liberals Put Him There
