28 August 2023

Stocks and Precious Metals Charts - A World on Fire - Non-Farm Payrolls on Friday

 

"Augustine began to write this book three years after Rome first collapsed and opened its gates to a barbarian invader. Alaric and his Goths sacked the city in 410.  Rome had been the inviolate mistress of the world for a thousand years.  The fall of the city that some had thought would stand forever demoralized what was left of the civilized world. Those who still took the pagan gods seriously  —  and it seems they were not a few —  looked about them for a scapegoat upon which to lay the guilt for this catastrophe.

The Christians had emerged from the catacombs and had been officially recognized by the convert Emperor Constantine.  Nevertheless Christianity remained the object of superstitious fear on the part of many, and it was inevitable that the bad luck that had befallen the Empire should be blamed on the Church.   St. Augustine took up his pen in 413 AD and set about proving the absurdity of such a charge.   This furnished him with the subject matter for the first ten books of The City of God."

Thomas Merton, Introduction, Augustine City of God, February 1994

“Pride is the beginning of sin.  It was pride that changed angels into devils; and it is humility that makes men angels.  There never has been, and never can be, and there never shall be any sin without pride.

What does love look like?  It has the hands to help others.  It has the feet to hasten to the poor and needy.  It has eyes to see misery and want.  It has the ears to hear the sighs and sorrows of men.

Do not grieve or complain that you were born in a time when you can no longer see God in the flesh.  He did not in fact take this privilege from you.  As He says: ‘Whatever you have done to the least of my brothers, you did to me.’   Believe, so that you may understand.

You have made us for yourself, O Lord, and our hearts are restless until they rest in you.” 

Augustine of Hippo

The big tickle this week is likely to be the Non-Farm Payrolls report for August on this Friday, September 1st.

Stocks wobbled around but managed to end up with modest gains as Treasury yields receded slightly.

The Dollar chopped around sideways, finishing nominally unchanged.

Gold and silver rallied, with gold holding on to some gain but silver finished unchanged.

The VIX has fallen back down to near the 50 DMA, which has been its lower bound lately.

It looks like Florida is in for a rough time.  Remember them in your prayers.   Let's hope that this is not the beginning of a cycle, a trend.

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

"There never has been, and never can be, and there never shall be any sin without pride."

And the same can often be said about the downfall of public figures, whose original misdeeds are compounded and most often eclipsed by their attempts to deny and erase them.

Pride goes before a destruction, and an arrogant spirit before a fall.

The madness serves none but itself.

Have a pleasant evening.