"In the Incarnation the whole human race recovers the dignity of the image of God. Thereafter, any attack, even on the least of men, is an attack on Christ, who took on the form of man, and in his own Person restored the image of God in all. Through our relationship with the Incarnation, we recover our true humanity, and at the same time are delivered from that perverse individualism which is the consequence of sin, and recover our solidarity with all mankind." Dietrich Bonhoeffer
Stocks were on another wild ride today, as earnings are coming in well thanks to the big tax cut for corporations, but going forward growth is hard to justify.
A lack of organic growth in the non-subsidized economy may be discouraging organic demand.
The upward redistribution of wealth continues to suck the very life out of the real economy. Never was so much owed by so few to so many.
Gold and silver were off a bit on the expiration as the Dollar, or is it King Dollar, rallied back to a short term high.
“In a room where people unanimously maintain a conspiracy of silence, one word of truth sounds like a pistol shot.”
Czesław Miłosz
"The world of finance is a mysterious world in which, incredible as the fact may appear, evaporation precedes liquidation. First the capital evaporates, and then the company goes into liquidation."
Joseph Conrad
“Give a man a fire and he's warm for a day, but set him on fire and he's warm for the rest of his life.”
Terry Pratchett
There is a profound, existential difference between the economy of the Devil and the economy of God. It is not that we don't know the difference, as the rules have been laid down simply, frequently, and unequivocally. It is just inconvenient to a certain type of perverse individualism.
The economy of God requires one to set aside themselves as the first priority, and their personal lust for money and power, and serve something greater— God and our fellows for His sake.
This does not appeal to the underdeveloped or malformed who are not able to see beyond their own immediate needs, and those that beyond that, all things considered, would be as gods, and therefore will not serve. Non serviam.
Stocks took a real tumble today. Caterpillar announced its first quarter results which were quite good. But on the conference call the CFO said that 'this is as good as it gets for 2018.'
And that sent US equities, which had been somewhat wobbly because of the climbing 10Yr yield, into a swoon.
The US Dollar fell off a bit from its recent highs, which helped to put a bid back under gold and silver.
As I have previously mentioned, the precious metals are trading primarily as an abstract instrument of value, like a fiat currency. Little regard is being given to their nature as commodities. This is more true for gold than for silver, because of the latter's significant industrial component.
Tomorrow will be the April Options Expiration for the precious metals on the Comex.
I expect the markets to continue to be volatile, moreso than the past twelve months or so. This is because this Trump rally is built on an unsustainable foundation of lies and mispricings of risk.
At some point I believe that we will see a much more significant correction in stocks. And then we will see what, and who, is left standing.
"Propaganda is the executive arm of the invisible government."
Edward Bernays
"The lady doth protest too much methinks."
William Shakespeare, Hamlet
Stocks opened higher, but were a bit wobbly most of the day. They managed to rally back into the close, ending up largely unchanged from the close last Friday.
The US Dollar was rallying from the overnight and hit a new high for the year. It is still within a longer term trading range however.
Despite what Larry Kudlow might say about the benefits of a stronger 'King Dollar', an unusually strong currency acts like a tax or tariff on a nation's exports, and a subsidy on its imports.
This is hardly what might support the grand plans for the renewal of American's economic growth. But it does favorite financiers for whom the dollar currency is an instrument of advantages.
Gold sold off almost one percent. Silver fell a full three percent, giving back the gains from last week, losing the 17 handle in the process.
There will be a Comex precious metals option expiration on this Wednesday, 25 April. The expiry seems to be more significant for silver than for gold. Perhaps this is one reason why silver was hammered so hard in particular today.
CNN is smearing those who question the corporate media narratives as 'extremists,' lumping genuine progressives in with neo-nazis and pedophiles. Even the DNC did not go quite that far in their attacks on Bernie Sanders and the progressive grass roots of their own party in 2016.
The slow winding of the credibility trap is going to lead the self-anointed into paranoia and retribution. How else can Hillary explain why she was denied her presidency? And how will Trumpolini explain the coming collapse in all his grand economic plans for revitalization?
I get the odd feeling that the public will at least pick up the tab for all these grand delusions, and perhaps even end up being the whipping boy for the failure of the anointed.
I find it a disturbing trend that the corporate media continues to attack alternatives to their attempts to manufacture consent, lumping them all together as 'extremists.' That is a smear tactic, and it is being used to defend the corporate narrative from questioning.
Was this intentional fear-mongering, or just their usual sloppy reporting? I don't think they care one way or another. And this appears to be a trend among the corporate media mouthpieces.
But at any event, this is a truly disgraceful example of 'journalism' and upholding freedom of the press.
And it fits all too well with the DNC establishment's lawsuit against Wikileaks for daring to engage in journalism. If the Democratic bosses are so concerned about how they lost the last election they should sue themselves for being almost shockingly out of touch with their base and the electorate.
These are fine examples of the credibility trap in action. And if unchecked it lends itself to paranoia and retributive persecution against any and all dissent.
Let us pray for those whose hearts are hardened against His grace and loving kindness by greed, fear, and pride, and the seductive illusion and crushing isolation of evil.
We pray that we all may experience the three great gifts of our Lord's suffering and triumph: repentance, forgiveness, and thankfulness. And in so doing, may we obtain abundant life, and with it the peace that surpasses all understanding.
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