“A great deal of intelligence can be invested in ignorance when the need for illusion is deep”.
Saul Bellow
“State propaganda, when supported by the educated classes and when no deviation is permitted from it, can have a big effect. It was a lesson learned by Hitler and many others, and it has been pursued to this day”.
Noam Chomsky
“The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by an endless series of hobgoblins, most of them imaginary”.
H.L. Mencken
“The term propaganda rings melodramatic and exaggerated, but a press that—whether from fear, careerism, or conviction—uncritically recites false government claims and reports them as fact, or treats elected officials with a reverence reserved for royalty, cannot be accurately described as engaged in any other function”.
Glenn Greenwald
Stocks were shoved around the plate by picky speculators who were not quite sure what to do at these levels when faced with a three day holiday weekend and continuing uncertainty with emerging markets and trade talks.
The ‘NAFTA’ talks between the US and Canada ended without a resolution today. They have agreed to continue speaking again on Wednesday.
Gold and silver came in strongly but faded as the day went on and the Dollar appreciated modestly.
These jokers are keen to keep the metals under wraps. If they lose control of the price, then a lot of dominoes will be falling.
Since today is the end of August, we will be seeing a Non-Farm Payrolls Report for this month next week.I have included a calendar of upcoming economic events for next week as the third chart below.
As you may recall, the US markets will be closed on Monday for Labor Day.
In honor of Labor Day, Trumpolini issued an order to freeze the pay of about two million Federal workers.
And he is considering a unilateral action to provide another $100 Billion in tax breaks for the .1% by indexing capital gains to inflation.
