"You have lost your reason and taken the wrong path. You have taken lies for truth, and hideousness for beauty. I marvel at you who exchange heaven for hell on earth. I don't want to understand you.”
Anton Chekhov
“Thus did a handful of rapacious citizens come to control all that was worth controlling in America. Thus was the savage and stupid and entirely inappropriate and unnecessary and humorless American class system created. Honest, industrious, peaceful citizens were classed as bloodsuckers, if they asked to be paid a living wage.
And they saw that praise was reserved henceforth for those who devised means of getting paid enormously for committing crimes against which no laws had been passed. Thus the American dream turned belly up, turned green, bobbed to the scummy surface of cupidity unlimited, filled with gas, went bang in the noonday sun.”
Kurt Vonnegut, God Bless You, Mr. Rosewater
"We had come to the stage where for our people what was needed was a real democracy; and of all forms of tyranny the least attractive and the most vulgar is the tyranny of mere wealth, the tyranny of a plutocracy."
Theodore Roosevelt
Stocks took a good run higher, beginning in the overnight futures trade.
Happy visions of vaccines and more corporate-friendly stimulus had visions of easy money dancing in Wall Street's head.
But alas, the big sled dogs, the high cap tech, faltered once again.
There was a 'sector rotation' to the small caps as seen in the Russell 2000.
We see that M2 money supply is growing at a torrid 25% year-over-year pace.
The Dollar dumped.
Perhaps the rest of the world needs to read a weighty essay about Modern Monetary Theory.
And so the Fed continues to buy Treasuries, as if there was no tomorrow.
Nice.
Of course we are doing this 'rescue' all wrong again, propping up the corporate 'job creators' and barely giving a crumb or two to the consumers.
But who controls the well spring of the money supply creation in the Federal Reserve?
Uh huh. The same crew that owns most of the stock market, and the economic noose of financialization.
Smells like teen spirit. And a future rendezvous with destiny.
And there you have it.
Need little, want less, love more. For those who abide in love abide in God, and God in them.
Have a pleasant evening.
