"The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated communist, but people for whom the distinction between fact and fiction, true and false, no longer exists.”
Hannah Arendt, The Origins of Totalitarianism
"Human beings are so made that the ones who do the crushing feel nothing; it is the person crushed who feels what is happening. Unless one has placed oneself on the side of the oppressed, to feel with them, one cannot understand. 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. Evil when we are in its power is not felt as evil, but as a necessity, or even a duty."
Simone Weil, Lectures on Philosophy
"It is, I am afraid, the first step in a process which, if followed to the end, will make us into devils. You see, one is beginning to wish that black was a little blacker. If we give that wish its head, later on we shall wish to see grey as black, and then to see white itself as black. Finally we shall insist on seeing everything -- God and our friends and ourselves included -- as bad, and not be able to stop doing it: we shall be fixed for ever in a universe of pure hatred.”
C.S. Lewis, Mere Christianity
"If today you hear his voice,
harden not your hearts."
Psalm 95:8
"Having thus become a mindless tool, the foolish person will also be capable of any evil and at the same time incapable of seeing that it is evil. This is where the danger of diabolical misuse lurks, for it is this that can once and for all destroy human beings.”
Dietrich Bonhoeffer, Letters and Papers From Prison
"Even now, says the Lord,
return to me with your whole heart,
with fasting, and weeping, and mourning.
Rend your hearts, not your garments,
and return to the Lord, your God. For gracious and merciful is he,
slow to anger, rich in kindness,
and relenting in punishment. Perhaps he will again relent
and leave behind him a blessing,
Offerings and libations
for the Lord, your God."
Joel 2:12-14
Happy Valentine's Day.
After the panic in Ratesville yesterday, stocks managed to shake off their fear of the Fed and bounce back again today.
Don't overthink this. Either the market is being driven to and fro by hapless idiots, or rather clever conmen.
Take your pick.
Gold was flat, silver bounced with equities.
VIX dropped.
The Dollar fell.
Did I mention that there will be a stock market option expiration on Friday?
Nuts.
Have a pleasant evening.
