"At dæmon, homini quum struit aliquid malum,
Pervertit illi primitus mentem suam."
But when the devil intends any evil against man, he first viciously corrupts their mind.
Euripides
"Nimirum insanus paucis videatur, eo quod
Maxima pars hominum morbo jactatur eodem."
He appears mad indeed but only to a few, because many are infected with the same disease.
Horace
"Though this be madness, yet there is a method in it."
Shakespeare, Hamlet, Act 2, Scene 2.
The retail sales number came in rather badly this morning.
There is no real recovery. Just a papering over of the rot endemic to oligarchy.
Gold and silver are struggling at overhead resistance.
Gold is much more interesting to watch here because of its nature as a safe haven.
And of course its central role in the changes in the monetary regime which have been called currency wars.
Stocks have reached the 38.2% fibonacci retracement level. They may keep on reaching for 50%.
It is reported that JP Morgan is holding $2.3 trillion in stock derivatives, or roughly 2/3rds of the entire market.
Let's see how this charade plays out. My general forecast is for pain.
When intelligent, verbally acute narcissists start succumbing to continuing pressure they typically become paranoid, and then violent. The mechanism for this is reasonably straightforward.
Their pathology is expressed in grandiose self-images and imagined and great exaggerated accomplishments. When they fail to achieve their lofty goals, they start blaming others. Their narcissism turns malignant.
After all, in their minds they are fabulously talented and have never failed or even made a serious mistake. So if there is failure, it cannot possibly be due to anything that they have done, but rather the failure of those who work for them. And so there is a great deal of staff turnover.
And if the failures continue, there must certainly be some group that is sabotaging their efforts, in an effort to make them look bad. Eventually their rage and words translate into acting out, and violence, most often against critics, potential critics and scapegoats.
There might be an epidemic of this sort of thing in the Beltway.
And then the darkness comes.
Have a pleasant evening.
