"Monetary conditions exert an enormous influence on stock prices. Indeed, the monetary climate - primarily the trend in interest rates and Federal Reserve policy - is the dominant factor in determining the stock market's major direction."
Martin Zweig
“Sometimes people hold a core belief that is very strong. When they are presented with evidence that works against that belief, the new evidence cannot be accepted. It would create a feeling that is extremely uncomfortable, called cognitive dissonance. And because it is so important to protect the core belief, they will rationalize, ignore and even deny anything that doesn't fit in with the core belief.”
Frantz Fanon
"The real collapse of our currency began when it became evident that certain industrial circles were more powerful than the government."
Adam Fergusson, When Money Dies
Tech continued to be a bit of a drag on the equity market.
The broader, non-weighted indices gaining on what the pundits claim is the anticipation of a broad based economic recovery.
It seems to this gimlet eye that it might also be a broad inflationary trend buoyed by historic money printing.
Gold and silver continued to rebound a bit after the trouncing they took from the Banks.
There was a to-do about the newly empowered Democrats lambasting the moneyed interests and their personal ATM and wealth transfer machine called Wall Street.
They always talk a good game, but then hide behind the GOP Senate filibuster, and do little or nothing.
I will become optimistic when I see the Democrats begin to actually do something, which they can.
As for the Republicans, they have a moral cancer, and are likely beyond redemption.
And the band played on.
Have a pleasant evening.
