As the first chart below indicates, the excesses of the bubble economy continue to build.
The resolution of this gross imbalance and malfeasance will be, by all historical accounts, 'unexpected' but tangibly impressive.
History is about to punch the proud and the self-anointed elite in the face.
Try to stay out of their way when they fall down. They will try to use you and yours to break their fall.
Stocks went out on the new highs in relatively light volume.
The VIX shows complacency. There is a proud complacency, buttressed by the Fed and the plutocrats' servants in public office.
Gold and silver were whacked lower again. In particular, it was a little surprising to see silver give up the 17 handle.
The bullion banks are determined to cover those shorts and avoid the loss that they have been carrying.
The political discourse in Washington is less and less like the battle between good and evil, and more like the struggle between two competing crime families for turf. And Trump is Dutch Schultz.
The Bond markets and Banks will be closed on Monday for Veteran's Day. The rest of the markets will be open.
Given our excesses, begin to expect the unexpected.
Have a pleasant weekend.
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