"You have attributed conditions to villainy that simply result from stupidity."
Robert Heinlein, Logic of Empire
The words, or perhaps more precisely 'bullish totems', for the day were green shoots and stabilizing.
As in the economy appears to be stabilizing, and green shoots are appearing.
In short, it appears as though the moneyed interests are committed towards attempting to take out the prior stock market highs, and perhaps set up another blow off top. Wax on, wax off.
Or at least extending this bubblation to allow a few more gig economy IPO pigs to hit the street, and still give them time to unload their positions, taking their profits from the first quarter V-shaped, parabolic rally.
Thank you, Fed.
Let's see if timing and events favor this, or not. I suspect that the interpretation of the news will definitely be leaning in their direction. But the news can only torture reality so far.
Speaking of cons and zombie valuations, Bitcoin jumped 23% today for some unknown reason. Did not some study just conclude that about 95% of the Bitcoin 'trades' are phony?
Gettin' paid.
According to a new book, Commander-in-Cheat by sportswriter Rick Reilly, Trumpolini does not cheat all that much at golf— he most often has his caddy do it for him. Shamelessly and relentlessly. Although he is so often inclined to aggressively kick his ball into the fairway for a better lie that his nickname amongst the caddies at Bedminster is Pelé.
He's a decent golfer. He doesn't need to cheat to play a very respectable game, especially for his age. And if he beats someone he apparently doesn't even take the money. It's all about the bragging, about looking better than the other guy, about proving to himself and everyone else that the rules do not apply for someone as special as him.
Gold and silver were largely unchanged today, as was the Dollar, le douleur du monde.
Non-farm payrolls number on Friday may be important in the narrative which the sell side of Wall Street has been formulating.
There will be a third indicative vote on the various plans for Brexit in the British Parliament tomorrow, Wednesday. Here is a brief video about the various choices which they have been considering.
Have a pleasant evening.
