"Our merchants and masters complain much of the bad effects of high wages in raising the price and lessening the sale of goods. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.”
Adam Smith, The Wealth of Nations
“Most of us are still too sane to piss in our own cistern, but we allow others to do so and we reward them for it. We reward them so well, in fact, that those who piss in our cistern are wealthier than the rest of us."
Wendell Berry
“Trickle-down theory - the less than elegant metaphor that if one feeds the horse enough oats, some will pass through to the road for the sparrows.”
John Kenneth Galbraith
"Fascism is capitalism plus murder."
Upton Sinclair
Stocks managed to bounce today, although they lacked the conviction to go out near the highs.
The Dollar fell, the VIX was lower.
But gold and silver were rallying. But they have yet to break out of their current consolidation patterns.
The big tickle this week is the quad witch option expiration on Friday.
Quadruple witching refers to the third Friday of every March, June, September and December. On these days, market index futures, market index options, stock options and stock futures expire, usually resulting in increased volatility.But we may see some pre-shenanigan shenanigans on Wednesday with the FOMC announcement.
Have a pleasant evening.
