In early January, we were hopeful:
“…all is not lost for central bankers, arguably the only game in town, as the black moon is not able to block out the lights from the King Star Regulus. So there is hope…”
After the cloud cover trick of nature in Carbondale, IL on Monday, yours truly is not so hopeful.
We remember that Carbondale, IL was nicknamed eclipse capital:
“The city of Carbondale, Illinois lies on the center lines of both the 2017 and 2024 total solar eclipse tracks that cross the USA. Total eclipse tracks that crossover on land within such a short period are very rare, especially those that cross in a highly populated region or a city.”
Figure 6.16, Total Solar Eclipses and How to Observe Them, Martin Mobberley, Springer 2007
Apparently a very sunny and hopeful eclipse day in Carbondale, IL was spoilt by a rogue cloud just when it matters most:
“…For some of downtown [Carbondale], a thick, gray cloud obscured the view of the sun in total eclipse, and seemingly for just the perfect two minutes and 38 seconds or so of complete totality…”
“…A fat, low cloud permitted him and about 15,000 others in and around the university’s football stadium to catch less than five seconds of totality, when the moon slides in front of the sun and blocks its light completely. “That was a pretty mean trick.”…”
“…”So the 2:40 we should have seen it, how much did we see?” [Sten] Odenwald [from NASA Goddard Spaceflight Center] said. “We saw a few seconds.”…”
So, is the cloud cover a mean trick of nature? Or is it a warning from the most high of the risk of an Orwellian 1984? Remember, we noted above that 2017 is 1984 years after the generally recoded date of the Crucifixion, Apr 3, 33AD:
“The left wants to attack the very legitimacy of America, of which Washington is the real symbol. And going after statues and other cultural icons is part of the Marxist playbook. It was written about by George Orwell in his dystopian novel “1984,” a quote from which is making the rounds this week.”
If Central Bankers are not careful, we will likely see the reemergence of crisis as Yellen hands over the reins in February 2018:
“In 1999, then-Federal Reserve Chairman Alan Greenspan kicked off the central bank’s annual Jackson Hole symposium by highlighting the impact of rising stock prices on an economy that was then enjoying low inflation and low unemployment.
Now, Janet Yellen faces a similar confluence of economic forces as she prepares for what might be her last speech at the Wyoming conference as Fed chair on Friday. And, like Greenspan before her, she has to decide how much weight to give to each as she tries to keep the economic expansion on track.”
In all likelihood, the international monetary system would be called into question in the next crisis. A pragmatist would prepare for that by perhaps rereading parts of the book Bretton Woods The Next 70 Years: http://eml.berkeley.edu/~eichengr/Bretton-Woods-next-70.pdf
Good luck in the markets.