"They [moneyed interests] are ruthlessly going forward to eliminate land, labour, entrepreneurial-managerial skills, and everything else the economists once told us were the chief elements of production. The only element of production they are concerned with is the one they can control: capital."
Carroll Quigley, The State of the Individual
"The money-masters of America become more aware of their danger, they draw together, they grow more class-conscious, more aggressive. The [first world] war has taught them the possibilities of propaganda; it has accustomed them to the idea of enormous campaigns which sway the minds of millions and make them pliable to any purpose."
Upton Sinclair, The Brass Check
"Always fight for progress and reform, never tolerate injustice or corruption, always fight demagogues of all parties, never belong to any party, always oppose privileged classes and public plunderers, never lack sympathy with the poor, always remain devoted to the public welfare, never be satisfied with merely printing news, always be drastically independent, never be afraid to attack wrong, whether by predatory plutocracy or predatory poverty.”
Joseph Pulitzer, Retirement address
“Abashed, the devil stood, and felt how awful goodness is, and saw Virtue in her shape how lovely: and pined his loss.”
John Milton, Paradise Lost
"Jim, lad, there be consequences an' then there be consequences. Devil take 'em all, says I, and pass aft the rum."
Robert Louis Stevenson, Treasure Island
The Jobs Report came in a little light this morning, despite a determined effort to adjust it upwards.
The solution was to pretend that it didn't, and focus on other, more pliable numbers like the short term unemployment rate.
Despite this stocks sold off rather hard, hitting deep into the Fibonacci retracements. I am still struggling a bit in placing them, given the distortions of the markets. More data may clarify them.
But again, the solution was to wait until the rest of the world went home for the evening, and the markets became quiet, and try to paint the tape positive.
M2 is running at 23% growth, year-over-year.
Distorting and distracting has become the method to their madness.
This is like a bad remake of the Dot.com bubble and crash, with lower morals and pervasive effects.
I see it coming. I do not know yet when it will arrive in force. But we are on our way, with a will to it.
The US markets will be closed on Monday for the Labor Day Holiday.
Have a pleasant weekend.
