"Seek the Lord, all you humble of the land,
who have observed his law;
Seek justice, seek humility;
And perhaps you will be sheltered
on the day of the Lord’s justice.
This was the triumphal city, high and mighty,
Saying to herself, ‘I am the one, and none dare stand beside me.’
How desolate now has she become, a place fit only for wild beasts.
Those who pass by her scoff, and shake their heads at her ruin."
Zephaniah 2:3-15
“I'm not crazy about reality, but it's still the only place to get a decent meal.”
Groucho Marx
I have a feeling that we are going to be seeing some real fireworks in the precious metals before the end of the year.
But feelings really do not count in markets. But it is there, tempting my trading discipline. I know that you have never experienced that. lol.
Stocks bobbled a bit today. I also think we will be seeing a slide in stocks. But let's see how the earnings come out, and what the Fed does about their bloated balance sheet.
While I am not so sure yet about where gold and silver and stocks are going, here are three things that I am pretty sure about.
1. There is no sustainable recovery. Basic items like housing and healthcare are fast outstripping the growth in real wages. This is sustainable? There is, and for too long has been, a well-funded class war underway, and the middle class is losing.
2. Trump is a terrible president, and way over his head in the job. I do not refer so much to the social graces, of which he has none or at least sees no need to use them, but in terms of organizing and managing and leading a very large enterprise. From pitting underlings against each other to shooting from the hip and trying to get lucky he has some of the very management and strategy weaknesses that brought a certain German leader in the last century to his eventual downfall. Hopefully the span of his control over fanatical followers will not achieve the same critical mass.
3. The Democrats need to purge their ranks of the Clinton crowd who are hanging on to stubbornly to positions of power. It is just killing them, and failing to provide a fruitful and leverageable counterweight to the corporate Republicans who are pretty much beyond all hope. What the Democratic power brokers did to the Sanders grass roots movement and Occupy Wall Street is the real deplorable abuse of power and position that precludes any second or third chance for them. They are a disgraceful elite.
These three items will bear a heavy influence on what transpires between now and the midterm elections on a number of fronts and dimensions: social, economic, political.
Have a pleasant evening.
