“Against such foolishness we are defenseless. 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. Never again will we try to persuade the foolish person with reasons, for it is senseless and dangerous.”
Dietrich Bonhoeffer, Letters and Papers from Prison, 1951
“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
And apparently our Banks and trading firms don't believe in risk anymore, either.
Stocks rallied on the usual nonsense including the worse than expected Empire State report.
The Dollar fell.
The VIX fell.
Gold and silver declined.
Why does the tension on the tape feel like we are setting up for a wash and rinse?
Oh yeah, this is an option expiration week.
The war in the Mideast is escalating, slowly but surely.
Have a pleasant evening.
