"If at the start this cancerous growth in the nation was not particularly noticeable, it was only because there were still enough forces at work that operated for the good, so that it was kept under control. As it grew larger, however, and finally in an ultimate spurt of growth attained ruling power, the tumor broke open, as it were, and infected the whole body. The greater part of its former opponents went into hiding. The German intellectuals fled to their cellars, there, like plants struggling in the dark, away from light and sun, gradually to choke to death." Sophie Scholl
The economic news came in weakly this morning, inspiring yet another round of 'will they or won't they raise rates' in December. Stocks were largely flat, but the auto sales numbers came in well, and this inspired a further rally in stocks that pushed them to levels that seem a little lofty. I am waiting to see if stocks will keep going through the Non-Farm Payrolls report. It is going to take quite a bit of time and effort to the repair the damage to the real economy and to society that we have allowed the financiers and their crony capitalists to inflict. Have a pleasant evening.
