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Stocks tumbled again today, but had a bit of a stick save into the close.

There will be a stock option expiration on Friday.

And there will be a precious metals option expiration on the Comex on Monday the 24th.

I think it will take an event of some moderate significance to break the support that Scott Bessent of the Treasury and his Wall Street hedge fund cronies are employing to keep the bubble floating.

The smart money is getting out now. But the least scrupulous traders will keep dancing while the music is playing, dancing and looting the real economy until it hits the wall. And then they will try to stick the public with the tab.

The US is now operating with a flywheel, without serious adult supervision to rein in the wackier ideas that pop out seemingly out of nowhere and gain momentum without any serious strategic and even tactical consideration.  

Words like 'out of control' come to mind. 'Reckless disregard' are some others. The cult of personality is still standing, but support, particularly among those with access to alternative news media, is melting.

There are too many signs of a deterioration in judgement, and a growing cult of erratic malignancy. 

The Europeans have let the irresponsible take control. I don't see how you can view the things they are doing and saying and come to any other conclusion. 

Tough times ahead. Until something breaks.

Have a pleasant evening.  
 

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