"It [the financial crisis] is a failure of regulation. In fact, one of the ironies of this whole discussion is they want to give more power to the Fed. The Fed, which flooded the market with liquidity, which did not put in regulations until after the crisis. In fact, closing the barn door after the horse is out. And now to reward them for their excellent job, they want to give them more power."
Joseph Stiglitz, March 31, 2008
“I don't know why we are here, but I'm pretty sure that it is not in order to enjoy ourselves.”
Ludwig Wittgenstein
"It's an empire. There's no two ways about it. It's a huge empire. It's been extremely successful. This empire, unlike any other in the history of the world, has been built primarily through economic manipulation, through cheating, through fraud, through seducing people."
John Perkins,
Confessions of an Economic Hitman
"For those who are determined to be rich fall into temptations and a snare, and into many foolish and hurtful passions which drown them in ruin and destruction. For the love of money is the root of all evil, after which some have coveted, and have lost their faith, and pierced themselves through with many sorrows."
1 Timothy 6:9-10
"War against a foreign country only happens when the moneyed classes think they are going to profit from it."
George Orwell
"So he ran ahead and climbed a sycamore tree in order to see Jesus, who was about to pass that way"
Stocks were in rally mode today based on the softer than expected PPI economic data.
Gold and silver were under pressure.
But the fog of war rolled over the markets this afternoon.
I was surprised to see the spokesmodels repeatedly beating the tom-toms of belligerence.
Smells like teen spirit. Or perhaps a 'suggestion' from higher up.
There will be a stock index option expiration on Friday.
Have a pleasant evening.
