"The 20th century has been characterized by three developments of great political importance: The growth of democracy, the growth of corporate power, and the growth of corporate propaganda as a means of protecting corporate power against democracy."
Alex Carey,
Taking the Risk out of Democracy, 1995
"Why are people so reluctant to believe that sociopaths and narcissists can use the power of the pen to prey on people? Because they are well spoken and organized? We would contend that these are the most dangerous of the emotionally warped with a need to acquire, dominate and control, because they are smarter and more calculating than the impulse murderers, burglars, rapists, thieves, and pedophiles.
There is a need for economic law and enforcement as there is a need for the less cerebral, hairy knuckled criminal law and enforcement. The notion that people become naturally good, rational and well-adjusted because they are wearing a suit is ludicrous, especially to anyone who has worked with many of those who move in the upper echelons of money and power.
There will always be those at the extremes who need to 'take it to the limit,' with a well stocked foreign retreat in case things get ugly. But for most of us, restoring a sense of justice and order and putting the nation back into some kind of working balance will be high on the priority list, if not for ourselves, then for our families.
Its been a long time coming, it will be a long time gone. But it has been done before by those who created this nation, and it can be done to restore it again. The sooner we start, the sooner it will be over.
Jesse, Predator Class, 26 December 2008
"Rejoice in the Lord always; and again I will say, rejoice; show patience and consideration to all, for the Lord is always near. Let nothing make you anxious; but with prayer, and by supplication, and with thanksgiving, let your needs be made known unto God; and the peace of the Lord, which surpasses all understanding, will guard your hearts and your minds, in Christ Jesus."
Philippians 4:4-7
"Caesar was swimming in blood, Rome and the whole pagan world was mad. But those who had had enough of transgression and madness, those who were trampled upon, those whose lives were misery and oppression, all the weighed down, all the sad, all the unfortunate, came to hear the wonderful tidings of God, who out of love for men had given Himself to be crucified and redeem their sins.
When they found a God whom they could love, they had found that which the society of the time could not give any one— happiness and love."
Henryk Sienkiewicz, Quo Vadis, 1905
Target, in its earnings report and forecast, shocked the markets with the fear that all is not well with the economy.
Is Target itself so pivotal? Even when taken as an indicator with Walmart?
Maybe but looks very much like a trigger event, for a market that was very much predisposed to a fairly sharp decline.
You may notice on the charts that the main equity index futures came down to test the prior 'second law.'
And we'll mark it as a backtest of the low unless of course the markets continue to sharply decline from here.
This latest 'failed rally' seems a bit short according to our crash models. But we can keep an open mind.
Gold managed to hold some ground in a day marked by general liquidation selling.
Silver not so much.
Aren't you glad to be watching this latest market conflagration safely from higher ground?
Whenever it comes, you probably won't like what comes next.
Have a pleasant evening.
