"The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil. Perhaps this is inherent. In a community where the primary concern is making money, one of the necessary rules is to live and let live. To speak out against madness may be to ruin those who have succumbed to it. So the wise in Wall Street are nearly always silent. The foolish thus have the field to themselves. None rebukes them."
John Kenneth Galbraith, The Great Crash of 1929
“Beware of false prophets, who come to you in sheep’s clothing, but underneath are ravenous wolves. By their fruits you will know them. Do people pick grapes from thornbushes, or figs from thistles? Just so, every good tree bears good fruit, and a rotten tree bears bad fruit. A good tree cannot bear bad fruit, nor can a rotten tree bear good fruit."
Matthew 7:15-18
"Fear not, little flock, for your Father's delight is to welcome you into His Kingdom."
Luke 12:32
Stocks pushed higher again today, buoyed by the billions in cheap liquidity that the Fed has been delivering to Wall Street.
The hope is that the higher stock prices will insulate and validate Trumpolini as his impeachment trial approaches. As for the rest of them it is greed, all the time, as always.
Gold is holding support at 1550. Let's see if it can continue to do so through the Non-Farm Payrolls report tomorrow.
Protect yourselves. And be cautious not only with your property, but more importantly, with your hearts and minds.
Have a pleasant evening.
