yet they are not ashamed,
and do not even know how to blush.
Therefore they will fall among the fallen;
at the time I visit them they shall be brought down,
says the Lord."
Jeremiah 6:15
"The difference between patriotism and nationalism is that the patriot is proud of his country for what it does, and the nationalist is proud of his country no matter what it does; the first attitude creates a feeling of responsibility, but the second a feeling of blind arrogance that leads to war."
Sydney J. Harris, Personal Prejudices, 1953
"Nemesis, the goddess of retribution and vengeance, the punisher of pride and hubris, waits impatiently for her meeting with us."
Chalmers Johnson, Nemesis: The Last Days of the American Republic, 2007
"Evil when we are in its power is not felt as evil, but as a necessity, or even a duty. Human beings are so made that the ones who do the crushing feel nothing; it is the person crushed who feels what is happening. As soon as men know that they can kill without fear of punishment or blame, they kill; or at least they encourage killers, with approving smiles."
Simone Weil, Gravity and Grace, 1947
“Religion used to be the opium of the people. To those suffering humiliation, pain, illness, and serfdom, religion promised the reward of an after life.
But now, we are witnessing a transformation: a true opium of the people is the belief in nothingness after death, the huge solace, the huge comfort of thinking that for our betrayals, our greed, our cowardice, our murders, we are not going to be judged.”
Czeslaw Milosz, Discreet Charm of Nihilism, NYRB Nov 1998
Trading is going to be very light this week, likely with an upward bias as we saw in the holiday trade last week, although we may very well see a back and forth action, as the wiseguys continue to reap the investment community and the real economy.
Gold is on the verge of breaking out. It needs to take out 2080 and go for a run.
The Dollar continues to slump.
VIX remains complacent. There is little provision being made for an exogenous black swan event, although the probability of one is elevated. Risk assets are priced for perfection.
Consequences are rarely expected, and those that most deserve them experience the most intense outrage at having received them.
This is hubris, and its willful blindness. It brings down the proud and the willful.
Be not deceived, for God is not mocked. As men sow, so shall they reap.
Have a pleasant evening.
