"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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Get Ready for more Pain at the Pump
Gasoline prices, which have been seemingly unaffected by the recent relative weakness in WTI, exploded through overhead chart resistance near the $2.55 level in the electronic trading session today. Fueled by unrest across the middle East, the entire energy sector shot sharply higher in the thin conditions.
If this market holds onto its gains tomorrow when the full trading contingent will return, it looks like we are going to have another commodity market catching fire further fueling the coming surge in inflation. Food and energy - the essentials of life - are now all rising together.
It puts me in remembrance of a scene from the movie, "Rocky 3" where the sports announcer is asking Rocky's opponent, Clubber Lang, about his prediction for the match between he and Rocky.
Clubber responds by repeating the word, "Prediction".
and then adds, " PAIN".
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