"Britain has followed the US model closely. Political decisions within both countries have had highly predictable results, and we are now fated to live with them. Good times aren’t really all that good for ordinary people any more, only for the people on top – the owners of companies, of real estate, of stocks. Except in the very tightest labour markets, workers simply don’t have the power to demand their fair share.
If you ask me, this is the thing to panic about: not the possibility that workers might prosper, but that they’re not prospering yet...
Thomas Frank, It's Not Wage Rises That Are The Problem
"Our future could be one in which continued tumult feeds the looting of the financial system, and we talk more and more about exactly how our oligarchs became bandits and how the economy just can’t seem to get into gear.
Recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time."
Simon Johnson, The Quiet Coup, May 2009
"But there is a sort of 'Ok guys, you're mad, but how are you going to stop me' mentality at the top."
Robert Johnson, Audacious Oligarchy
"Isn't it a riddle and awe-inspiring that things can be so beautiful, despite the horror? I've seen something wondrous peering through my joy in the beautiful, a sense of its creator.
Only people can be truly ugly, because they have free will to separate themselves from this song of praise. It often seems they will drown out this hymn with cannon thunder, curses, and blasphemy.
But I have realized they will not succeed. And so I want to throw myself on the side of the victor.”
Sophie Scholl, Munich, 1942
There won't be any panic or doubts, not by the captains of industry and their terrible toddlers and enablers. Not, at least, until they and theirs are well into the abyss and beyond.
Winning...
The big cap techs in the Nasdaq 100 were leading the way in a rally higher from the opening.
One can supply any number of reasons for it, after the fact. This one might say that the fears of a trade war have subsided because someone heard something.
Another might say that with CPI coming in weakly, then the Fed won't be raising rates so aggressively. And didn't Jay Powell of the Fed give a rousingly positive interview?
Or one might as well just say, 'because they can.' And so they did.
It looks like another blow off top is in the works.
Gold and silver were up slightly as risk money flowed back into them after their recent beat down. The US Dollar was largely flat. .
Forget the ever-flattening yield curve, the spokesmodels say. This is an unconventional recovery.
But why worry if you can get yours, and devil take the hindmost? And because of the increase of wickedness, the love of most will grow cold.
Except for those who understand the fundamentals of the economic proposition that, in the final analysis, matters most. For what does it profit a man?
Need little, want less, love more. For those who abide in love abide in God, and God in them.
Have a pleasant evening.
