"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


Monday, April 8, 2013

Total and Complete Complacency

Payrolls down to a pitiful 88,000 jobs created. Alcoa warning on earnings. N. Korean sabbling rattling in a big way. Bail-ins as precedent. Surging numbers of Americans sinking into poverty. Record numbers of Americans on Food Stamps and Disability. Shrinking Labor Force...

NOTHING and I mean NOTHING matters to these equity guys. It is all about missing the rally instead of being cautious in the face of so many serious headwinds.

While Central Planner continue to drone on about "No Bubble", every single sign that I can see about this stock market rally is screaming in my ears, "BUBBLE".

There is no fear anywhere; it is absolutely mind boggling to see this sort of mass hypnosis.
The Complacency Index continues to hover at SIX YEAR LOWS. Absolutely astonishing!

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