Stocks and Precious Metals Charts - Waiting For Godot

I had an appointment this afternoon that went on far longer than anticipated.

So for tonight it is just charts.

Have a pleasant evening.

Stocks and Precious Metals Charts - What Can I Do?

"Which of these three was a neighbor to him?  Go and do likewise."

"Jesus gave us a new norm of greatness.  If you want to be important—wonderful.  If you want to be recognized—wonderful.  If you want to be great—wonderful. 

But recognize that he who is greatest among you shall be your servant.  That is a new definition of greatness...  Everybody can be great,  Because everybody can serve.  You only need a heart full of grace, and a soul generated by love.  And you can be that servant."

Martin Luther King


"Non serviam.  (I will not serve)."

Lucifer

Stocks were wobbly most of the day. An effort to take the big cap tech stocks fizzled, with the Dow and the SP 500 lagging most of the day.

Gold and silver were listless. The Dollar finished unchanged.

As a reminder there will be a stock option expiration on Friday.

We will see Jay Powell's first FOMC meeting as the Chairman next week.  A 25 bp rate hike is widely expected.

Have a pleasant evening.

Stinging Commentary on the Democratic Party Establishment

"There is a lack of critical assessment of the past. But you have to understand that the current ruling elite is actually the old ruling elite. So they are incapable of a self-critical approach to the past."

Ryszard Kapuscinski


Now we remember that it was Bill Clinton's administration that deregulated derivatives, deregulated telecom, and put our country's only strong banking laws in the grave. He's the one who rammed the North America Free Trade Agreement (NAFTA) through congress. Mass incarceration and the repeal of welfare, two of Clinton's other major achievements, are the pillars of the disciplinary state that has made life so miserable for Americans in the lower reaches of society. He would have put a huge dent in Social Security too, had the Monica Lewinsky sex scandal not stopped him. If we take inequality as our measure, the Clinton administration looks not heroic but odious.

Mounting a campaign against plutocracy makes as much sense to the typical Washington liberal as would circulating a petition against gravity.  What our modernized liberal leaders offer is not confrontation but a kind of therapy for those flattened by the free-market hurricane: they counsel us to accept the inevitability of the situation.

Thomas Frank, Rendezvous With Oblivion, 1 September 2006