Stocks and Precious Metals Charts - Davos Man Triumphant - Fanfare for the State of the Union

“Today we live in a society in which spurious realities are manufactured by the media, by governments, by big corporations, by religious groups, political groups.  So I ask, in my writing, 'what is real?', because unceasingly we are bombarded with pseudo-realities manufactured by very sophisticated people using very sophisticated electronic mechanisms.  I do not distrust their motives; I distrust their power.  They have a lot of it."

Philip K. Dick


"You shall not offer your children as a sacrifice to the fires of Moloch, and profane the name of your Lord."

Leviticus 18:21


“The measure of a man is what he does with power.”

Plato


"All the world marveled at this, and gave their allegiance to the Beast. And they worshiped the dragon for giving such power to him. as they also worshiped the Beast. 'Who is as great as the Beast?' they exclaimed. 'And who is able to resist him?'   And the Beast was allowed to commit great blasphemies against God."

Revelation 13:3-5

Stocks, led by big cap tech and Tesla, went parabolic today in part momentum trade and a large part short squeeze.

As for the coronoavirus and the economic slowdown, tomorrow is another day for such relatively trivial concerns.

I am an admirer of Elon Musk and the work he has done with Space X.

The valuation of Tesla Motors is insane.

All we are missing now are the cannons shooting gerbils.

The safe havens were hammered as one might expect in such an immolation of risks and cares.

The coverage of the Iowa caucus voting last was so badly done on MSNBC that for a while I watched CNN, which I think is the first time since the Iraq War I.   The lesser of two evils, to borrow a meme.

Someone at the DNC should step down.  Tom Perez might be a start. 

The State of the Union address will be tonight.   The stock market has provided the proper fanfare for the Donald.

Have a pleasant evening.

Stocks and Precious Metals Charts - And a Haughty Spirit Before a Fall - Lies and Imperial Madness Rising

“To put it baldly, there are two ways to become wealthy: to create wealth or to take wealth away from others. The former adds to society. The latter typically subtracts from it, for in the process of taking it away, wealth gets destroyed. A monopolist who overcharges for his product takes money from those whom he is overcharging and at the same time destroys value. To get his monopoly price, he has to restrict production.”

Joseph E. Stiglitz, The Price of Inequality


“I had noticed that both in the very poor and very rich extremes of society the mad were often allowed to mingle freely.”

Charles Bukowski, Ham on Rye


"Evil will sometimes seems good to a man whose mind a god is leading to destruction."

Sophocles, Antigone

After the bell 'Alphabet' posted some negative results, such as operating margin, which caused the stock to decline, despite much better than expected earnings.

Like patriotism and honor, earnings are often a very flexible concept in our current financial discourse and halls of political power.

Stocks rebounded this morning, and the metals were under pressure.

This despite the cratering in the newly opened Asian markets after their long lunar new year holiday.

In the interests of preventing panic, lies and associated looting appears to be the order of the day for our guardians of freedom.

But it would be poor form for Trumpolini to have to give his State of the Union as an impeached president with a cratering stock market.

This is going to end badly, make no mistake about that.

As the force of the economy continues to decline, the fraud of its representations and of most public speech will increase, shamelessly.

Have a pleasant evening.

Year-To-Date Performance of Stocks and Precious Metals

"You may deride my awkward pace,
But slow and steady wins the race."

The Tortoise and the Hare

lol.

Stocks and Precious Metals Charts - Left Behind - Watch Asian Markets Open on Sunday Evening

"Narcissists are unstable and go through repeated cycles of self-destruction, with other people usually paying the heft of the price.  They are aware of what they are doing to others — but they do not care.  Narcissists tend to be divisive, vindictive, confrontational, aggressive, hate-filled, raging, incoherent, judgment-impaired, and irrational."

Sam Vaknin, Malignant Self-Love


“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


"The narcissist looks down on everyone and exploits people all of his life. For many narcissists life is all about money and power. Getting more and giving less is his motto."

Linda Martinez-Lewi, Narcissist’s Outrageous Self Entitlement


"And one day, too late, your principles, if you were ever sensible of them, all rush in upon you.  The burden of self-deception has grown too heavy.  Now you live in a world of hate and fear, and the people who hate and fear do not even know it themselves; when everyone is transformed, no one is transformed. Now you live in a system which rules without responsibility even to God. The system itself could not have intended this in the beginning, but in order to sustain itself it was compelled to go all the way.”

Milton Mayer, They Thought They Were Free


"Peace I leave with you, my peace I give to you. Not as the world gives do I give peace of mind to you. So do not let your hearts be troubled or afraid."

John 14:27

Stocks were hammered today, with the SP setting its biggest one day decline since last October.

So much for JPM's advice to 'buy the dip' the other day, and all the cheerleading and happy talk from the financial media and Wall Street mouthpieces.

The Dollar slumped again today, even as gold and the VIX were climbing.

Let's keep an eye on that.

The cause of this was the coronavirus, which the Wall Street spin machine had been actively talking down after the initial plunge in stocks on Monday.

There was a flight to safety rally into the precious metals, but it seemed a bit subdued, certainly lacking in any panic.

Last night I posted the recent clearing report that showed buying at $1583 in the Feb futures by some of the Banks for their house accounts.

United, American, and Delta Airlines have joined many of the international carriers and cancelled all flights to and from China.

The Fed has decided to weaken the Volcker Rule even further. Well done.

 My 'bullshit meter' was very active while I watched the tube and read the news today.

If yours was not you may wish to calibrate it.

The market will be watching the Chinese and other Asian markets as they open on Sunday evening.

As you know China's financial markets have been closed for the lunar New Year celebration, which had been extended.

It appears that the Senate will toddle on to its acquittal of Trumpolini without hearing the rest of the evidence and witnesses, blaming the House for not working harder to overcome the Trump Administration's very active obstruction.

Tonight the UK will formally engage in Brexit, although there will be a 'transition period' until the end of the year. I wish them well. 

I have marked some key support levels on the equity charts.

There will be the Statue of the Union on Tuesday evening, and the impeachment vote sometime next week most likely.

"Rough seas ahead, mateys." Jesse, I See It Coming

And you have not idea how strongly those revelations may be coming, and winds may be blowing, before too long.  These jokers have no shame.

Need little, want less, love more. For those who abide in love abide in God, and God in them.

Have a pleasant weekend.