Juggling Dynamite

We went to see Spielberg’s new movie “Lincoln” yesterday and found it worthwhile. The drama reminds us of the cavernous divide that America faced in ending slavery and the Civil War and banding disparate sovereign states into the ambitious ideals of the United States of America in April 1865.

The bulk of the film focuses on the heated and seemingly impossible negotiations between Republican and Democratic representatives to pass the Constitution’s 13th amendment to abolish slavery. Improbable and yet, a majority vote was finally achieved and the amendment passed. This happened even though many people and businesses had a deep vested economic interest in continuing to use slave labor. In the end, the benefits to the nation and its leadership in democracy and humanity so clearly outweighed the costs. This history should serve as inspiration today as different sides seek consensus on a new path forward. It can be done. Here is a direct link to the trailer.

Half a trading day in the US, has risk markets up on the lowest Black Friday volume since 2007. The same ‘two guys trading’ we have noted for many months now, as over-valued assets continue to repel serious investment capital. Meanwhile this segment gave me a chuckle. While bankers where lauded as “genius” saviors up until the credit bubble burst in 2007, today apparently they are embarrassed to admit their trade at dinner parties. Poor babies. Historically this is a step in the right direction, as we move toward the repulsion phase necessary to finally end the secular bear market. No one arrested yet though…so not there yet. Here is a direct link.

Danielle was a guest today with Phil Mackesy on Talk Digital Network discussing recent developments in the world economy and markets. You can listen to an audio clip here.