Stocks were wobbly since an attempt to make it seem as though Iran was suing for peace, spread by a mouthpiece in the 'digital media' that was uncritically picked up by understaffed wire services, was found to be yet another dose of meth for the markets.
I don't know where things stand now, the fog of war and all that. I have a few sources I follow that have proven to be more reliable than official media. The US and Israel are playing it close to the chest on one hand, and posturing for renewed conflict on the other. Iran has been much more straightforward, agree with them or not.
VIX is acting like 'meh.'
On the economy, Wall Street is acting as enablers in hiding the risks of recession and worse, pretending this is all 'normal'. We are probably already entering a recession, the stock pricing notwithstanding.
In watching this all unfold in Washington and NY I was reminded of an interview between Bill Moyers and Neil Barofsky. He said of the 2008 bailouts and lack of meaningful reform:
"It creates this false illusion that there are people out there looking out for the interest of taxpayers, the checks and balances that are built into the system are operational, when in fact they're not. And what you're going to see and what we are seeing is it'll be a breakdown of those governmental institutions. And you'll see governments that continue to have policies that feed the interests of the one percent or the .1 percent — to the detriment of everyone else."
Have a pleasant evening.
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