Housing Bubble 2.0: Making America More Unstable, Again

With low inflation and continuing stagnation in median wages another housing bubble is just what the doctor ordered as a cure for the last financial crisis, caused in part by the rampant financial fraud associated with Housing Bubble 1.0.

And it looks like we have yet another tech stock bubble well underway.

Meanwhile the public is distracted by the corporate media's endless coverage of clown car antics and foreign plots to pollute our precious bodily fluids.

Well done, elites, well done.

And no one could have seen it coming, again.

FOMC Decision and Comex Option Expiration For Precious Metals Tomorrow - Beware the Leaven of the Pharisees

"Beware the leaven of the Pharisees, which is pious, hollow hypocrisy. There is nothing covered that shall not be revealed, and hidden, that shall not be made known. Whatever has been said in the darkness shall be heard in the light: and what has been whispered behind closed doors shall be shouted from the roof tops."

Luke 12:1-3


“Those among the fortunate rich who are not, in the rigorous sense, damned, can understand the neediness of poverty, because they are needy themselves, after a fashion;  but they cannot understand true impoverishment.

Capable of giving alms, perhaps, but incapable of stripping themselves bare, they will be moved to the sound of beautiful music, at Jesus’s sufferings—  but His Cross, the reality of the self-denial of His Cross, will horrify them.  For they want it all out of gold, bathed in light, costly and of little weight; pleasant to see, and hanging from a beautiful woman's throat.”

Léon Bloy

The charts are still pretty much lined up in areas where one might expect to see some movement when volatility returns to the markets.

The option expiry tomorrow is more significant for gold than silver.

Have a pleasant evening.

Stocks and Precious Metals Charts For the Week Ending 21 July - No Fear

"He who sows good seed is the Son of Man,
the field is the world, the good seed the children of the kingdom.
The weeds are the children of the evil one,
and the enemy who sows them is the devil.

The harvest is the end of the age, and the harvesters are angels.
Just as weeds are collected and burned up with fire,
so will it be at the end of the age.
The Son of Man will send his angels,
and they will collect out of his kingdom
all who cause others to sin and all evildoers."

Matthew 13:30-41


"No place so sacred from such fops is barred,
Nor is Paul's church more safe than Paul's churchyard:
Nay, fly to altars; there they'll talk you dead:
For fools rush in where angels fear to tread."

Alexander Pope, Essay on Criticism

In a way I am glad that I am so caught up in my long vigil of duty and love.  It lightens my exposure to the barking tangerine, and the ever more brazen offenses of the despicables, while putting all things into a much better perspective.

This too shall pass, and perhaps more quickly than we, and the wealthy and powerful of the world, can imagine.

See you next week.

Next Week's Economic Calendar - FOMC Meeting, Q2 Advance GDP, and Comex Precious Metals Option Expiration

And the beat goes on...

Stocks and Precious Metals Charts - One Day In Texas

“Beware the Jabberwock, my son!
The jaws that bite, the claws that catch!
Beware the Jubjub bird, and shun
The frumious Bandersnatch!”

Lewis Carroll


"Grigory Yefimovich Rasputin—
spiritual advisor to the Romanovs.
In 1916, at a dinner in his honor,
he was poisoned, shot stabbed,
clubbed, drowned, and castrated."

Hellboy, 2003


"A shudder in the loins engenders there
The broken wall, the burning roof and tower
And Agamemnon dead.

Being so caught up,
So mastered by the brute blood of the air,
Did she put on his knowledge with his power."

W. B. Yeats

Tomorrow is a stock options expiration.

Next week there will be a precious metals option expiration on the Comex and an FOMC meeting.

If the metals can make it past these, then the path to a breakout from the current intermediate rangebound trend may be clear.

Stocks look toppy.  Wait for it.

Have a pleasant evening.