Stocks and Precious Metals Charts - Payrolls and Wages Come in Light

"We shall not cease from exploring
And at the end of our exploration
We will return to where we started
And know the place for the first time
Through the unknown, unremembered gate."

T. S. Eliot, Little Gidding


“It's déjà vu all over again.”

Yogi Berra


"Gatsby believed in the green light, the orgastic future that year by year recedes before us. It eluded us then, but that's no matter—tomorrow we will run faster, stretch out our arms farther... And one fine morning——

So we beat on, boats against the current, borne back ceaselessly into the past."

F. Scott Fitzgerald, The Great Gatsby


Dickie:  Where are we going?
Stymie:   I don't know, brother, but we're on our way.

The Little Rascals, Free Wheeling

The Jobs Report came in somewhat tepid this morning and wages failed to achieve the sorts of level one would expect in a healthy economy.

Stocks gave up a bit of their recent march higher.

The dollar was off a bit.

Gold and silver gained back a little of what was given up in the massive bear raid from earlier in the week.

Let's see how things progress next week.

The weight of mismeasured risks still seems somewhat lightly regarded, especially with regards to geopolitical events.

Next week we will begin a new cycle of earnings announcements.

Have a pleasant weekend.

Stocks and Precious Metals Charts - Lawlessness - Non-Farm Payrolls Report Tomorrow

"The sense of responsibility in the financial community for the community as a whole is not small.  It is nearly nil.  Perhaps this is inherent.  In a community where the primary concern is making money, one of the necessary rules is to live and let live. To speak out against madness may be to ruin those who have succumbed to it.  So the wise in Wall Street are nearly always silent.  The foolish thus have the field to themselves.  None rebukes them."

John Kenneth Galbraith, The Great Crash of 1929


“Beware of false prophets, who come to you in sheep’s clothing, but underneath are ravenous wolves. By their fruits you will know them. Do people pick grapes from thornbushes, or figs from thistles? Just so, every good tree bears good fruit, and a rotten tree bears bad fruit. A good tree cannot bear bad fruit, nor can a rotten tree bear good fruit."

Matthew 7:15-18


"Fear not, little flock, for your Father's delight is to welcome you into His Kingdom."

Luke 12:32

Stocks pushed higher again today, buoyed by the billions in cheap liquidity that the Fed has been delivering to Wall Street.

The hope is that the higher stock prices will insulate and validate Trumpolini as his impeachment trial approaches.  As for the rest of them it is greed, all the time, as always. 

Gold is holding support at 1550.  Let's see if it can continue to do so through the Non-Farm Payrolls report tomorrow.

Protect yourselves. And be cautious not only with your property, but more importantly, with your hearts and minds.

Have a pleasant evening.

Stocks and Precious Metals Charts - Schlock and Awe - Hubris That Knows No Bounds

"It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought."

John Kenneth Galbraith


“There are two ways to be fooled. One is to believe what isn't true; the other is to refuse to believe what is true.”

Søren Kierkegaard


"Nemesis, the goddess of retribution and vengeance, the punisher of pride and hubris, waits impatiently for her meeting with us."

Chalmers Johnson

If you ever wondered why the US encouraged and fostered the growth and maintenance of the Wall Street Banks, despite their corrupt and criminal excesses, now you know. They are the new dreadnoughts of global capitalism and financial warfare.

I don't want to appear gloomy or to waste time restating the obvious.

So I will only say that we have a long, difficult road ahead of us.

Have a pleasant evening.

Stock Futures Plunge, Gold Tops $1600

Iran has launched ballistic missile strikes at US troop bases in Iraq.

Stocks dropped sharply, while gold briefly shot up to $1612.

The 'rescue mission' for equities is already underway.

Let's see how things go tomorrow.