“The world says: 'You have needs— satisfy them. You have as much right as the rich and the mighty. Don't hesitate to satisfy your needs; indeed, expand your needs and demand more.' This is the worldly doctrine of today. And they believe that this is freedom. The result for the rich is isolation and suicide, for the poor, envy and murder.”
Fyodor Dostoyevsky
“The tyrant is a child of Pride
Who drinks from his sickening cup
Recklessness and vanity,
Until from his high crest headlong
He plummets to the dust of hope.”
Sophocles, Oedipus Rex
"Lo, all our pomp of yesterday
Is one with Nineveh and Tyre!
Judge of the Nations, spare us yet,
Lest we forget, lest we forget!"
Rudyard Kipling
"Show me your ways, O Lord, and teach me your paths.
Lead me in your truth, and teach me: for you are the God of my salvation; and I wait for you all the day.
Remember, O Lord, your tender mercies and loving kindness, as they have ever been of old."
Psalm 25:4-6
Most people are willful idiots, who forgive themselves everything, and others nothing. I am an unwillful idiot. I am not sure that this is better, or even a marked improvement. But at least I try to have compassion for others because of this small kernel of self-awareness.
Self-awareness is in very short supply these days.
The Non-Farm Payrolls report came in 'better-than-expected' with a headline number of 201,000.
Most ignored the significant revisions lower from the last report in this one. Rolling jobs over from one month to the next is a time honored gimmick in putting a little nicer shade of lipstick on the pig.
The 'household report', as opposed to the well named establishment report, is the one in which actual people are interviewed in what one hopes is a statistically significant manner. And in informational terms it was not very good, at all.
The big tickle was that this 'great' jobs report was going to allow the Fed to raise interest rates later this month at the next FOMC meeting.
Here is a news flash. The Fed is going to raise rates at this next meeting unless the Yellowstone caldera blows its top.
And the US is not exceptional, except for a swollen and misplaced very high self-regard that is common amongst late stage empires. This has nothing to do with interest rates, but it cannot be said enough, nevertheless.
So the dollar rallied and gold was hit. What a surprise. And gold recovered a bit and actually finished marginally unchanged with a .32% decline or thereabouts.
A cold front came through, and as a result it is cooler but quite humid and a bit cloudy, with leaden gray skies. As sometimes happens on gloomy days, there is a little bit of a hole creeping into my heart.
And so I have been indulging myself as best I can, and keeping busy all day. The young man is coming to visit tonight, and he also informed me that a UPS delivery is coming that requires a signature. So Dolly and I have been keeping watch. I have prepared a jambalaya for him tonight, and it is slow cooking in my Instant Pot, which I like very much.
And while waiting I have spared myself watching financial television. They are so obviously reading talking points that it makes one nauseous. And so it is a good day to stay in with a very nice cup of European dark roast coffee, and a selection of travel videos from
NonstopDan and a few others of a documentary nature about things that I wish to know about, or to do.
As a former international 'road warrior' who hung up his
carryon some years ago, it is nice to see what is new in international travel especially with regard to business class. I have to say that Business class has certainly become more luxurious in many cases.
And would have enjoyed that very much. One time I flew all the way around the world heading ever west, with a number of stops along the way over a two week period. I booked the trip through Continental, which was my airline of choice at the time, in addition to a few flag carriers. It was a shame to see them and some others acquired, but that is how things go in a financialized, non-customer focused economy.
And the lounges, like Virgin's 'Clubhouse' at Heathrow 4, seem to be larger and more expansive than when I used to pop in. I am so jealous. lol
I was also reminded of the BA Lounge at JFK, where the Concorde passengers used to wait along with the business and first class passengers. We made the trek there because at that time it was the only 'day flight' from NY to London.
We never did get the much desired upgrade to the Concorde, but the queen enjoyed watching the people, and sampling the goodies there, nonetheless. She was a most companionable traveling partner, who found delight in even the smallest things, and found new things fascinating.
Gold inventories continue to look tight. Silver not so much, although the Banks seem to be hoovering up contracts for their own accounts at these prices.
Let's see what new and amazing lows that our ruling elite may strike for our viewing pleasure next week, and the many ways in which they may seek to baffle the world.
Have a pleasant weekend.
