“Politicians were mostly people who'd had too little morals and ethics to stay lawyers.”

George R.R. Martin


“The main problem in any democracy is that crowd-pleasers are generally brainless swine who can go out on a stage and whip their supporters into an orgiastic frenzy— then go back to the office and sell every one of the poor bastards down the tube for a nickel apiece.”

Hunter S. Thompson


"This idea that you can't be an honest man and a Washington politician is a myth, a crock made up by sellouts and careerist hacks who don't stand for anything and are impatient with people who do. It's possible to do this job with honor and dignity."

Matt Taibbi

It was a less risk prone day in the markets, with the trading light because of the Bank and Bond holiday in honor of Christopher Columbus.

Bully seems to be engaging in some retrospection just ahead of earnings.

I have put a special, shorter version of the gold chart up first in the charts below. Look at the recent trading bottoms we have formed in the price of gold in the past year. I have circled them for your viewing pleasure. Do you see anything that might appear to represent some commonality?  What a coincidence!

Ideology, as expressed in glib phrases, is one of the great impediments to independent thinking and, thereby, often valuable knowledge. You know, things like, 'markets are by their nature efficient because of their size and diversity of participants'  or 'the denizens of Wall Street are rational and honest businessmen that have been corrupted by government.'

Some remnants of a hurricane blew through our area this afternoon, bringing us some much needed rain.

Have a pleasant evening.



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