The Phaserl


Stocks and Precious Metals Charts — A House of Desolation

from Jesse’s Café Américain:

“God who gave us life gave us liberty.   Can the liberties of a nation be secure when we have removed a conviction that these liberties are the gift of God?  Indeed I tremble for my country when I reflect that God is just, that His justice cannot sleep forever.”

Thomas Jefferson Memorial, Northeast Portico

“A true opium of the people is the belief in nothingness after death, the huge solace, the huge comfort of thinking that for our betrayals, our greed, our cowardice, our murders, we are not going to be judged.”

Czesław Miłosz

“I urge you, brothers and sisters, to beware of those who cause arguments and put obstacles in your way with things that are contrary to the teachings you have learned. Keep away from them.  For such people are not serving our Lord, but their own vain appetites and inclinations.   By smooth talk and flattery they deceive the minds of naive people.”

Romans 16:17-18

Stocks set new highs, and gold and silver corrected a bit on a quiet Comex option expiration. The charts continue to exhibit interesting patterns and excesses.

The economic news of The Recovery™ meanders along its mediocre path, with a rise in long term unemployment and the sluggish growth in the broader economy driven by an exhausted middle class and staggering working poor.

Several fellows sought to engage me in conversation yesterday, challenging the observation that 23 million people will be denied affordable access to healthcare for themselves and their families by this abomination that has slouched out of our House of Representatives.

Their points, while differently expressed, were that since these unfortunates do not have such access to reliable and affordable healthcare now, it is no great loss for them.   It is as if this is the result of the natural order, and not of a damnable system of apportioning out the wealth of the country, its products, and its benefits in a corrupt and distorted manner that is without equity, compassion or mercy.

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