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Fame, power, and gold, are loved for their own sakes — are worshipped with a blind, habitual idolatry. The pageantry of empire, and the fame of irresistible might, are contemplated by the possessor with unmeaning complacency, without a retrospect to the properties which first made him consider them of value.
It is from the cultivation of the most contemptible properties of human nature that discord and torpor and indifference, by which the moral universe is disordered, essentially depend.
So long as these are the ties by which human society is connected, let it not be admitted that they are fragile.
Percy Bysshe Shelley
The employment number was worse than expected, and the unemployment rate ticked up.
The equity markets, aka the cash cow entitlement of the one percent, ran higher because of extensive revisions to past months.
This will not end well.
"Still, investors cannot simply surrender to their entropic destiny. Time may be running out, but time is still money as the original saying goes. How can you make some?...
Transition from financial to real assets if possible at the margin: buy something you can sink your teeth into – gold, other commodities, anything that can’t be reproduced as fast as credit."
Bill Gross, PIMCO - Credit Supernova
Non-Farm Payrolls report tomorrow.
I will try and take a close look at them as January is known as a volatile month. Unemployment claims came in on the high side this week, but that really does not imply too much for the monthly jobs report given the huge adjustments that are made for seasonality and imaginary job creation. The corruption in the US stock market is still appalling.
UPS, which is America's largest package delivery company, guided lower for the year.
Non-Farm Payrolls tomorrow.
"Greed, I say, is a great flood; it is a whirlpool that sucks a person down, a constant yearning, always seeking a hold, continually in movement."
Siddhārtha Gautama Buddha
“Just as it was in the days of Noah, so will it be in the days of the Son of Man. People were eating, drinking, marrying and being given away in marriage, up to the very day Noah entered the ark. Then the flood came, and swept them all away."
Luke 17:26-27
"What is the appropriate behavior for a man or a woman in the midst of this world, where each person is clinging to his piece of debris? What is the proper salutation between people as they pass each other in this flood?"
Leonard Cohen
