01 June 2018

Stocks and Precious Metals Charts - Excelsior


"The greatest want of the world is the want of men — men who will not be bought or sold; men who in their inmost souls are true and honest; men who do not fear to call sin by its right name; men whose conscience is as true to duty as the needle to the pole; men who will stand for the right though the heavens fall."

Ellen G. White


"I have tired of hearing the argument from my friends about how we could not expect anything better from various folks given the perverse incentives.  I cannot accept that.  I know of several people who have failed to take advantage of their good government jobs when they moved to the private sector. They have done reasonably well, but they have not enriched themselves at the expense of everyone else. I know of even more who have prostituted themselves. The institutions may provide the opportunity, but it is the person who acts on it."

HBK


"And because of the increase in lawlessness, the love of the many will grow cold; but those who endure until the end shall be saved; and the good news of the kingdom of heaven will be proclaimed throughout the world, as a testimony to all the nations; and then the end will come."

Matthew 24:11-14


“Be not deceived, Wormwood, our cause is never more in jeopardy than when a human, no longer desiring but still intending to do our Enemy's [God's] will, looks round upon a universe in which every trace of Him seems to have vanished, and asks why he has been forsaken, and still obeys.”

C. S. Lewis, The Screwtape Letters

The Jobs Report came in Better-Than-Expected this morning. Trumpolini twittered enthusiastically about it an hour before its release, although he did not disclose any specific numbers.

The markets were in rally mode led by tech.

We may be building to a Blow off Top III.
RECORD 95,689,000 Americans ARE NOT IN THE LABOR FORCE: That is how the US official unemployment number can be so low. If we count age-eligible workers who stopped looking for work and no longer in Labor Dept jobs data base unemployment near 10%. AND of those counted as employed, large fraction unwillingly part-time. I have been a longtime critic of all BLS and BEA unreliable & misleading data. 2017+Q1 2018 show higher per capita income, but median essentially no gain. Reason: higher pay for supervisors & professionals, but not 90% underclass.

Many of us kept pointing out the fact unemployment was around 15% during the 0bama regime and the media conspicuously ignored it. NOW you bring it up, conspicuously ignoring the fact it is STILL better than during the 0bama regime. I was saying the same thing not only about entire Obama years employment data but long before then. Each new WH staff discovers labor mkt data can be shaped to give any POTUS à good report card. Even Fed uses that BLS number, aware it is misleading.

Dr. Harald Malmgren
Gold was lower in an almost cliche manner. Silver was a bit lower as well.

This was a week heavy with economic news. Next week will be a bit more normal.

There are quite a few significant risk factors that were tossed aside today.  But they are still very much there, merely hidden by the willful mispricing of risks, and the misrepresentations of them.

Be wary of those who set themselves as the paragons of the law, and adorn themselves with its details, applying them with harsh judgments and even harsher words.

They may outwardly gleam with righteousness, and scrupulous knowledge of the scriptures and precepts of religion, but inside they are empty, and lacking in love.  And this is how you will know them, and the emptiness of their words— there is little love in them.

Need little, want less, love more.   For whosoever abides in love abides in God, and God in them.

Have a pleasant weekend.