“They were careless people, Tom and Daisy — they smashed up things and creatures and then retreated back into their money or their vast carelessness, or whatever it was that kept them together, and let other people clean up the mess they had made.”
F. Scott Fitzgerald, The Great Gatsby
"It is not possible to found a lasting power upon injustice, perjury, and treachery. These may, perhaps, succeed at first, and limp along on hope for awhile with a flourishing appearance. But time betrays their weakness, and they eventually fall into ruin of their own designs."
Demosthenes
"Laws exist to protect society from the actions of aberrant personalities. It does not shock us when they wield a gun. Why then does it surprise us when they utilize a pen, a glib personal patina, a reckless disregard for others, and a persistent, amoral cunning?
Until there is reform and a restoration of justice there will be no sustained and genuine recovery."
Jesse, A Brief History of the Greatest Financial Fraud in History, 15 December 2008
"There are no necessary evils in government. Its evils exist only in its abuses. If it would confine itself to equal protection, and, as Heaven does its rains, shower its favors alike on the high and the low, the rich and the poor, it would be an unqualified blessing."
Andrew Jackson, Veto of the Second Bank of the United States
"Looking at the world as a whole, the drift for many decades has been not towards anarchy but towards the reimposition of slavery. We may be heading not for general breakdown but for an epoch as horribly stable as the slave empires of antiquity.
Few people have yet considered the kind of world-view, the kind of beliefs, and the social structure that would probably prevail in a state which was at once unconquerable and in a permanent state of cold war with its neighbors."
George Orwell
Stocks did another one day wash and rinse special.
It started with a rocket rally up from the relatively benign CPI data this morning, but fell apart and went deeply into the red by the market close.
The Dollar fell.
Gold and silver rallied, with a similar volatility to stocks.
VIX is in a fairly tight lower range.
Earnings season kicks off with the Banks on Friday.
It was in the high 80s here today. More like Summer than Spring.
Have a pleasant evening.
