The Japanese stock market got creamed overnight. Down more than one percent. But the Hang Seng held about even. Right now – as I scribble this – Europe is just opening, but already, we know the trajectory set out this week.
Tonight (*U.S. time) we’ll see how China’s economy has held up. A preview? China’s GDP Report Set to Show Economic Damage From Covid Zero Exit.
Gold was down about $4-bucks. Which means the US Dollar is a little stronger. Which – I’ve told you many times – means it “Won’t take as many Dollars to buy an index.” From the bleachers, it will seem like the market might be down a bit.
But we won’t find out today.
There’s no mail service. The banks are closed. Government offices, too.
Yet – in a perverse way – life goes on.
In eastern Europe there’s a war going on:Russia hit Kiev with hitherto unknown weapon: Largest thermal power stations on fire – Three waves of attacks with 80 missiles. But, no, it wasn’t that bad, says Ukraine. War hurts, sure (18 killed, 34 injured in Russian attacks on Ukraine over past day), but Ukraine forges ahead, regardless.
Most of Washington is closed down for Martin Luther King Day. Congress is still trying to figure out what to do with a busted debt ceiling come Thursday. At some point agreement is always reached, but not without drama, charges, and the taking of financial hostages. Don’t be surprised when the government threatens to delay Social Security payments. Though crooks the politicians are, I don’t remember federal worker retirement being held hostage.
It’s all gamesmanship, power, greed, and blame. No reason for that game to change. No sir, not today, anyway.
Instead, We’re Being Distracted
Content creators of the Internet are suddenly facing a less-bright future, today. As we see coming 90% of online content could be ‘generated by AI by 2025,’ expert says. We’re unconcerned, though. “Experts” assured us of “global warming” and that New York would see water lapping at the steps of Wall Street by the turn of the last century. Experts get it wrong.
So do the Rich.
See, having money is usually as much a matter of luck, as anything. Over the past 50+ years, I’ve interviewed hundreds of “rich” people. Mainly, they get rich because of harnessing the work of others. Microsoft has roots in CPM-86. Apple’s earliest works came from a garage powered by new components and plenty of meetings of computer hobbyists, all anxious to strike it right. Someone was bound to strike it rich. Gates, the Woz, Steve. But – if it hadn’t been them, it would have been someone else.
Computers were coming. IBM would have found an operating system for their PC somewhere. And so, we see this is how, in quantum physics, we begin to see history more as a “bounded choice distribution” and not so miraculous if you look outside of the hypnosis of “now.”
The Rich are usually cunning, connected, harder working and committed at levels higher than most. They get stuck with financial lightning not through their sole efforts but because they stand on the shoulders of giants, on in the case of Trump and Buffett to name two, the shoulders of parents.
Sometimes that works, other times not so much. This morning we’d draw your attention to Hunter Biden asks judge to stop his estranged daughter from taking his surname. A new pinnacle in prickish arrogance, we’d call it. And it seems to run in the “dog-face pony soldier” family, though the surname seems to lack copyright protection. Fathers are best judged by their sons.
The strange attractor for Biden double-standards is clear enough as Biden speaks of redeeming America’s soul during visit to Martin Luther King’s hometown church. He might want to worry less about America’s soul and a bit more about his own.
Ah, but the Rich and powerful remain hopelessly arrogant, mostly. Even as the Davos Conspiracy to overthrow democracy gathers to further another plebe-bleeding Great Reset, just desserts are waiting, pitchforks at the gate. As Davos Opens, Oxfam Urges ‘Billionaire Busting’ Policies. We’ve got a “digital stone” to sharpen some tines, ourselves. An inflation-adjusted global income came of $100-million should be enough for anyone. Well, except you and me, of course…
Partly for this reason, disarming the public is a high priority now: Biden’s ATF Bans MILLIONS OF GUNS With New Rule And Gun Owners Could Face TEN YEARS IN PRISON For Refusing To Comply. Remnant America is at the wall with our last smoke. Nikita Khrushchev was right, if a little off on his timetable. Commies in dress-up are everywhere.
Great Resets are a regular feature, dressed up as wealth-stealing inflation and government jab-to-work orders, lockdowns, gun laws, and wars. It’s just this week’s version of the S.O.S. That the rich simply “wear people out” couldn’t be more clear than Rupert Murdoch is spotted on holiday with new female companion. 5th time’s a charm?
The power class is in trouble. Where did liberal principles go on Open Borders, we wonder? As Mayor of New York: There is No More Room for Migrants. He ought to try El Paso on for size.
I guess that’s enough.
Except There’s the Crypto Con
Yes sir. Bitcoin is up to $20,800 today. Although – on average – not much has changed: BTC price cancels FTX losses — 5 things to know in Bitcoin this week (cointelegraph).
While the U.S. works on a government-backed crypto, we are pleased to report that India may be coming to its senses, too, as RBI Governor: Crypto Should Be Banned (cryptodaily.co.uk).
This being a weekend extension, as all, you have a little extra time. So go watch a video by Cal Newport, author of such brilliant works as “Deep Work” and “Digital Minimalism” a couple of personal favorites. He’s an associate professor of computer science at Georgetown University.
When he explains there is a Deep Question that no one seems to be asking, we quietly applaud his clarity of thought:
You should keep in mind while viewing this that his schooling at MIT’s Theory of Distributed Systems group, screams to us we’re in a late-stage Ponzi scheme on the internet. And that a rally even to $25,000 on something that was just over $68,800 14-months ago is not confidence-inspiring in the least.
We will have to wait for the markets to open tomorrow, but for now, we’re working on non-financialized ways of being. Figuring out why my bok choi plants are bolting and working in the shop or putting up a new ham radio antenna seems very much more productive than being a news junkie when nothing is actionable.
ATR: Best Use of the Holiday
Turn off the MSM bullshit and go learn on Youtube.
Sometimes, I think we should set up a “most useful videos” list. Because this website doesn’t just happen. We all, as humans deliberately craft a life around us.
So please excuse me, but time to get my real grinds on. The ones that happen after the column here.
Write when you get rich,