22 August 2024

Stocks and Precious Metals Charts - A Carnival of Beasts

 

"Greed has poisoned men's souls, has barricaded the world with hate, has goose-stepped us into misery and bloodshed.  We have developed speed, but we have shut ourselves in.  Machinery that gives abundance has left us in want.  Our knowledge has made us cynical.  Our cleverness hard and unkind.  We think too much, and feel too little.  More than machinery, we need humanity.  More than cleverness, we need kindness and gentleness.  Without these qualities life will be violent, and all will be lost."

Charlie Chaplin, The Great Dictator, October 15, 1940

"The great failure that was made by so many was the assumption that as the leader of a great and educated nation, Hitler was rational, and would eventually make the most rational decisions.  So they believed his many assertions of his peaceful intents, and good wishes, even as he turned Europe into an abattoir.  Like the efficient market hypothesis, people were blinded to reality by a theory about the natural goodness and rationality of politicians."

Jesse, The Garden of Beasts: Die Nacht der Langen Messer, 26 September 2011

"The men who locked their wives out in the snow, because the snow of twenty-nine wasn't real snow.  If you didn't want it to be snow, you just paid some money."

F. Scott Fitzgerald, Babylon Revisited, February 1931

“When Fascism came into power, most people were unprepared, both theoretically and practically. They were unable to believe that man could exhibit such propensities for evil, such lust for power, such disregard for the rights of the weak, or such yearning for submission. Only a few had been aware of the rumbling of the volcano preceding the outbreak.”

Erich Fromm, Escape from Freedom, 1941

"Of course, there are many days in this age of anxiety when a human being feels awfully low and discouraged.  I myself find consolation at such moments by two means: trying to develop a sense of history, and renewing the quest for inner life.

I find that most true happiness comes from one’s inner life; from the disposition of the mind and soul.  Admittedly, a good inner life is difficult to achieve, especially in these trying times.  It takes reflection and contemplation.  And self-discipline.  One must be honest with oneself, and that’s not easy.  You have to have patience and understanding.  And, when you can, seek God.  But the reward of having an inner life, which no outside storm or evil turn of fortune can touch, is, it seems to me, a very great one."

William L. Shirer, author of Rise and Fall of the Third Reich, 1951

Power corrupts, but power attracts the corruptible.

Our politics are bought by money, covered by a thin veneer of lies.  And so our hypocrisy is shameless, and knows no bounds.  

I don't want to single out any particular wing of the duopoly. 

They are both sick at heart, but with varying degrees of social grace and smarmy political charm.

Stocks were weak today and went out near the lows.

Gold and silver were hit hard.

The Dollar rose, taking back the .50 it recently lost.

Powell's speech tomorrow from Jackson Hole *might* be notable.

And in the background, the abyss the violence of empire continues.

Have a pleasant evening.