"Easy is the descent into hell; The door to death and darkness stands open, day and night. But to retrace one's steps, to return once more to the pure clean air, and cheerfulness and life: That is our task, that is our true labour."
Vergil, Aeneid
“The point of modern propaganda isn't only to misinform or push an agenda. It is to exhaust your critical thinking, to annihilate truth.”
Garry Kasparov
"Everyone knows that plagues have a way of recurring throughout history, yet somehow we find it hard to believe in the ones that crash down on us out of the sky. There have always been plagues and wars, yet they always take us by surprise. When war breaks out people say it's stupid and won't last long. Stupidity has a knack of getting in the way, which we would see if not wrapped up in ourselves. In this our townsfolk were like everybody else— they did not believe in plagues."
Albert Camus, The Plague
Big tech was rocking an rolling higher with the SP 500 keeping up the pace, setting a new all time high.
The VIX held stubbornly where it had been.
The Dollar declined and Treasury yields were flat.
Gold and silver faded a bit along with oil.
The cybercurrencies (aka digital beanie babies) continued to march to tulip land.
And earnings season rears its head once again.
Some heads are rolling today at Credit Suisse, tied to the recent big losses due to hidden risks.
There will be an update on the impact to the bank this weekend.
There are more, but they are preferring to keep silent.
No one could see it coming.
Have a pleasant evening.
