08 January 2024

Stocks and Precious Metals Charts - A Deadly Combination - The Madness Serves None But Itself

 

"You are a sinful nation,
     weighed down by your lawlessness,
     a race of wicked children who are corrupt.
You have forsaken the Lord,
     despised the Holy One of Israel,
     and turned your backs on him."

Isaiah 1:4

"He has shown you what is good, and what He asks from you.   The Lord requires you to act justly, to love kindness and mercy, and to walk humbly with your God."

Micah 6:8

"Let the wicked abandon their ways
     and those who are evil reform their thoughts.
Let them return to the Lord
     so that he may have mercy on them;
and to our God,
     for he is rich in forgiveness.
For my thoughts are not your thoughts,
     nor are your ways my ways, says the Lord.
As the heavens are higher than the earth,
     so are my ways higher than your ways
     and my thoughts above your thoughts."

Isaiah 55:7-9

"Beware the leaven of the Pharisees, which is a pious hypocrisy."

Luke 12:1

"Be quick to listen, slow to speak, and even slower to anger, for your anger does not serve the righteousness of God.   Put aside your corruption and its abundance of wickedness, and receive with humility His word in your hearts, for the salvation of your souls.  Do not just hear the word, deceiving yourselves, but keep it, and act on it."

James 1:19-22

Stocks were enjoying a rich fantasy life today, rallying higher without a care.

The Fed will soon be cutting rates, a lot. 

But there will not be a recession.  

The Fed will engineer a soft landing, thread the needle, make everything better, don't you know?

Gold and silver fell back some, as did the Dollar.

VIX fell.

Everything is coming up roses.  If we say it is.   

And if you say otherwise, we'll just ignore you, or shut you up.

We seem to be stiff-necked and reality-optional, deluded by our power, which is a deadly combination.

And so we mount aloft, without a second thought or care, higher and higher—defiant.

For who is like unto the beast.  Who is able to war with him.

The madness serves none but itself.

There will be a slug of inflation information out later this week.

Have a pleasant evening.


Maintaining disorderly markets and the mispricing of risk...