“A new scientific truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it.”
Max Planck
"In science, progress is cumulative — we stand on the shoulders of giants. In finance, progress is cyclical — we keep stepping on the same rake."
Jim Grant
"Where does the truth lie? Should one go off and build a little house with flowers outside the windows and a garden outside the door and extol and thank God and turn one’s back on the world and its filth? Isn’t seclusion a form of treachery, of desertion? I am weak and small, but I want to do what is right."
Hans Scholl
"The Plan is for the United States to rule the world. The overt theme is unilateralism, but it is ultimately a story of domination. It calls for the United States to maintain its overwhelming military superiority and prevent new rivals from rising up to challenge it on the world stage. It calls for dominion over friends and enemies alike. It says not that the United States must be more powerful, or most powerful, but that it must be absolutely powerful."
David Armstrong, Dick Cheney's Song of America, Harpers October 2002
Risk reappeared in the markets today.
It was never really gone. They were just able to ignore it better before this.
Stocks sold off, and set a lower low.
Gold and silver enjoyed a flight to safety, along with Bonds.
There is a three day weekend coming up. Who wishes to go into it holding long positions in stocks?
Have a pleasant evening.
