Stocks and Precious Metals Charts - Our Modern Know-Nothings - History Repeating

 

“Explosive urban and industrial growth had thrust the [Massachusetts] Commonwealth into the forefront of the industrial states in the antebellum period, creating, in the process, wrenching social and economic dislocations.  The failure of the established parties to mount a significant response to the myriad issues and problems spawned in the matrix of modernization weakened partisan attachments and set the rank and file of the established parties on a quest for a political vehicle that would make a difference in their lives. 

In 1854, such a vehicle materialized in the form of an antiparty, antipolitician populist movement that promised to cleanse the statehouse of corrupt old parties and self-serving political careerists and turn the government over to the people so that they might right the wrongs that had for so long afflicted them.

Among the afflictions, it is true, were the many social problems associated with mass immigration; but there were other troubling and pervasive concerns endemic to an unharnessed, rapidly expanding urban, industrial order, including the tyrannical factory system, the decline in the status of labor, the widening gulf between rich and poor, and the deteriorating quality of urban life.” 

John R. Mulkern, The Know-Nothing Party In Massachusetts 

 

"I am not a Know-Nothing.  That is certain.  How could I be?  How can any one who abhors the oppression of negroes, be in favor of degrading classes of white people?  Our progress in degeneracy appears to me to be pretty rapid.  As a nation, we begin by declaring that 'all men are created equal.' We now practically read it 'all men are created equal, except negroes.'  

When the Know-Nothings get control, it will read 'all men are created equal, except negroes, and foreigners, and catholics.'  When it comes to this I should prefer emigrating to some country where they make no pretense of loving liberty-to Russia, for instance, where despotism can be taken pure, and without the base alloy of hypocrisy." 

Abraham Lincoln, August 24, 1855 

 

“Against foolishness we are defenseless.  Neither protests nor the use of force accomplish anything here; reasons fall on deaf ears; facts that contradict one’s prejudgment simply need not be believed – in such moments the foolish person even becomes critical – and when facts are irrefutable they are just pushed aside as inconsequential, as incidental.   In all this the foolish person, in contrast to the malicious one, is utterly self satisfied and, being easily irritated, becomes dangerous by going on the attack.” 

Dietrich Bonhoeffer, Prisoner for God: Letters and Papers from Prison

 

Some stocks were a little wobbly after their recent parabolic gains. 

We may see more signs of instability as the bubble proceeds to its natural conclusion.

Gold was up a bit, silver not so much.

The active months in the gold contract are now October and December.  For silver the most activity is now in December.

The Dollar was once again unchanged at 92.67.   Three days in a row.  How about that.

There will be a Non-Farm Payrolls report on Friday.

I am really getting antsy about the equity markets.  

I have pretty much stopped watching most network television, and am much more selective about the sites that I read on the internet.   I spend much more time reading and praying and working outside, and trying to help others.

It makes my thinking clearer, and my overall outlook generally more content.

As Fulton Sheen noted, "The most important problem in the world today is your soul, for that is what the struggle is about."

People can become addicted to all sorts of things.   And there are plenty of examples in history of how people became addicted to demagogues who wove a delusional cartoon fantasy for their followers.

Time to disconnect from the machine, and start thinking and feeling for something more worthwhile and genuine and lasting.  

As a test, change that channel, stop running to read those websites.  See how badly you miss your favorite source of emotional opiates when they are gone.   Be patient with yourself in your withdrawal.

But above all save yourselves, for in the end to lose yourself, to throw yourself away for what is essentially nothing, is the only real tragedy. 

Need little, want less, love more.  For those who abide in love abide in God, and God brings life to them.

Have a pleasant evening.