09 February 2017

Stocks and Precious Metals Charts - Risk On - Snow Day - Crony Capitalism

“A true opium of the people is the belief in nothingness after death, the huge solace, the huge comfort of thinking that for our betrayals, our greed, our cowardice, our murders, we are not going to be judged.”

Czesław Miłosz

As you may have heard a winter storm swept across the northeastern US this morning. Luckily it came up the coast a little further east than expected, so we only received about six inches of heavy wet snow, which failed to drift in the high winds. Those further east got clobbered.  Even with a snowblower clearing it was tiring, though.

The continuing fraud and inequality is taking a toll on the economy and society. Yes, the pigmen are emboldened and elated, because they see themselves winning. Things have not blown up in their faces yet, and the bailouts which they received from their grateful servants in government has made them feel almost invincible.

About 11 tonnes of paper gold were dumped on the market early, as part of the risk on theme of the technical trade, and the perception management surrounding a number of odious IPOs coming to market.

It will not last.  And Trump and the GOP are going to own the next financial crisis and its aftermath.

Speaking of our entitled establishment, here is the usually hidden face of corporate conservatism on those decadent, lazy, and spoiled US workers.    At least the Wall Street Democrats know how to feel the common people's pain, or fake it convincingly from a distance, over cocktails and canapes in their exclusive enclaves.

But they did figure out a way to make the average US citizen pay more to die younger, and consider themselves exceptionally well-served.

And our enlightened ones wonder why the natives are restless, and change is in the wind.

Have a pleasant evening.