“Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children. The cost of one modern heavy bomber is this: a modern brick school in more than 30 cities. It is two electric power plants, each serving a town of 60,000 population. It is two fine, fully equipped hospitals. It is some fifty miles of concrete pavement. We pay for a single fighter with a half-million bushels of wheat. We pay for a single destroyer with new homes that could have housed more than 8,000 people…
This is not a way of life at all, in any true sense. Under the cloud of threatening war, it is humanity hanging from a cross of iron.”
Dwight D. Eisenhower, 16 April 1953
The big tickle today was the strength in the Dollar index based on Euro weakness, thanks to Monsieur Draghi.
There was a minor option expiration for gold on the Comex today. I do not think that drove the action in the metals, compared to the big spike in the Dollar.
After the bell we will be seeing some big earnings announcements including Amazon, Alphabet, Microsoft and Intel.
CVS Health is in talks to buy Aetna. More consolidation in the health/insurance sector, under the title of ‘vertical integration’ which is a finer sounding title for ‘monopolization.’
This post was published at Jesses Crossroads Cafe on 26 OCTOBER 2017.