"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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Trader Dan taking some time off from the KWN Metals Wrap this Weekend
I am taking some R&R this weekend so will not be doing my regular weekly radio interview with Eric King over at King World News but please tune in regardless and listen in to Bill Haynes and my substitute for this week as I think you will enjoy the broadcast.
Come back soon, you're already a fixed part of my weekends. :P :D
ReplyDeleteEnjoy your break Dan, but hurry back as I and many others look forward to your market insights and expertise as well as your general commentary regarding the economy and other important matters of interest.
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ReplyDeleteEnjoy your holiday Dan, you deserve it.
ReplyDeleteMy mouth is still agape at how easily Bernanke was able to:
1) Crash gasoline prices just in time for th election
2) Crash gasoline prices even further just in time for Black Friday and Cyber Monday
3) Incite a massive buying panic into U.S. Treasuries and muni-bonds at a time when we are piling up deficits faster and faster
4) Keep stocks levitated despite the worst economic news in 50 years with earnings of major Fortune 500 companies tanking
Hopefully, the boys over at King World News will comment and weigh in on this fantastic economic feat one day.
Mark;
DeleteI had thought that we would not see the system endure in its current mode back when things began to unwind in 2008. It is indeed a testament to the fact that the Fed's money funny, combined with what amounts to the same thing being done by the ECB, the Bank of England and the Bank of Japan, is able to trump the massive indebtedness that will eventually undermine us all.
You have to shake your head in astonishment and wonder that today's crop of investors could care less about debt. The US can keep sinking deeper and deeper into this morass, but it no longer fazes most of them. It is surreal.