One more time ... one more high ...

I guess I should be angry about this.

sofia leung tweet

But she's exactly right.  I agree completely.

We should thank Sofia Leung for being direct and honest with us about the matter.

Books and libraries are just so much whiteness.

$NDX made a new high this week, so we can expect the same for $SPX, etc.  Timing works well for a few weeks from now, in May.

SPX hourly

Support is down around the 2260 level before they do something at the June FOMC.  But they may just kill the balance-sheet normalization schedule, leaving rate cuts for when things get truly desperate.

SPX daily

Real price-discovery puts the S&P 500 back at 500; it would be nice if we could get it over with this year, so Trump can start working on his 2020 campaign.

SPX daily again

If the market implodes, though, Trump will have no choice but to dump everything he has got on the treasonous Democrats.  The 2020 election would then be the most epic event of our lives, after the market panic and meltdown.

We'll get MMT eventually -- it's the logical conclusion and exciting finale of the path we took in 1913.

Book thread -- what's on my shelves?

Summer reading time.  What's on my shelves?

I'm just crazy about this cool one-volume edition of Spengler printed by George Allen & Unwin in 1934, which I ordered from a bookshop in Brighton, UK.  How I love this press.

Oswald Spengler, The Decline of the West,
London: George Allen & Unwin, 1934

You should use a 500 million DM Weimar note as your bookmark when you read von Mises.

Ludwig von Mises, The Theory of Money and Credit,
New Haven: Yale UP, 4th printing, 1963

I'm reading this cover-to-cover at the moment.  Volume 2 has always been good for its tales of the camps and the White Sea Canal, but you really need to read all of Gulag to understand our enemies.  I found this at a thrift store on Mercer Island, WA, for $10.

Aleksandr I. Solzhenitsyn, The Gulag Archipelago,
New York: Harper & Row, 1974, 1st ed

Goethe

Goethe, Works: Gottingen Edition, New York: W. I. Squire, 1901

und Schiller

Friedrich Schiller, Werke in vier bänden,
Hamburg: Hoffman und Campe, 1957

John Stuart Mill, Principles of Political Economy, New York: Appleton, 1868

Talcott Parsons, The Social System, Glencoe: The Free Press, 1951 1st printing

Devereux Bowly, Jr, The Poorhouse: Subsidized Housing in Chicago,
1985-1976, Carbondale: Southern Illinois UP, 1978

Arnold R. Hirsch, Making the Second Ghetto: Race & Housing in Chicago,
1940-1960, London: Cambridge UP,, 1983

Count Eric Oxenstierna, The Norsemen, New York,
NY Graphic Society, 1965

Blog magic is real

I mentioned Larry Niven and Jerry Pournelle's classic cosmic disaster novel Lucifer's Hammer the other day, and what should greet me at my local Value Village last night, but a first edition of the same, with a DJ already protected in vinyl!

Niven and Pournelle, Lucifer's Hammer, 1st ed, Playboy Press, 1977

Abebooks has this at $70 to $100, probably toward the low-end as mine has a couple of chips out of the jacket.  But I paid $2.99, so I am pleased with the exchange.  Bicycle's copy is nicer, but I paid less than he did.

Wedge is looking good up here in the ether -- here's my local count.  Janet speaks a couple of times during RTH next week, could be a good time if she decides to shank the Donald.

SPX 60D

And the larger, doom count for 2017:

SPX 2Y

Books: Killing time until the next cycle turn

Even while the market bumps along waiting for the next cycle turn window, I'm still busy buying books.  I'm the guy in the pulp disaster novel Lucifer's Hammer who preserves a precious cache of books in his septic tank before Hammerfall, only I'd prefer to skip the tank if I can.

So what's new on the shelves these days?

R.W. Tabor & D.F. Crowder, Routes and Rocks in the
Mt. Challenger Quadrangle (with map), The Mountaineers, 1968

American Alpine Club (Fred Beckey), Climber's Guide to the Cascade
and Olympic Mountains of Washington, AAC, 1961

Bob and Ira Spring, Camera Adventuring on
Mr. Rainier (boxed), Superior Publishing, 1955

Karl M. Herrligkoffer, Nanga Parbat: The Killer Mountain, Knopf, 1954

Colin Fletcher, River: One Man's Journey Down the
Colorado, Source to Sea, Knopf, 1997

Hiram Bingham, Lost City of the Incas, Folio Society, 2004

James Dickey, Deliverance, Houghton Mifflin, 1970

F. A. Hayek, eds Bartley & Kresge, The Collected Works:
The Trend of Economic Thinking: Essays on Political Economists
 and Economic History, Chicago, 1991

Thorstein Veblen, ed. Max Lerner, The Portable Veblen, Viking, 1950

Michael Lewis, The Money Culture, W.W. Norton, 1991

Alexander Solzhenitsyn et al,  From Under the Rubble,
Little, Brown, 1975

Alexander Solzhenitsyn, Rebuilding Russia: Reflections
and Tentative Proposals, Farrar, Straus & Giroux, 1991

Oswald Spengler, The Hour of Decision, Part One: Germany
and World-Historical Evolution, Knopf, 1934 1st ed

Donald R. Dudley, The Romans: 850 B.C.-A.D. 337, Knopf, 1970

Edith Hamilton, The Echo of Greece, W.W. Norton, 1957

Epictetus, Discourses, Fragments, The Encheiridion, Harvard, 1998

Francis Gies, The Knight in History, Harper & Row, 1987

George Ivan Smith, Ghosts of Kampala: The Rise
and Fall of Idi Amin, St. Martins, NY, 1980

L.H. Whittemore, COP! A Closeup of Violence and Tragedy,
Holt, Rinehart and Winston, 1969

Arnold R. Hirsch, Making the Second Ghetto: Race and Housing
in Chicago 1940-1960, Cambridge UP, 1983

Charles Moore, Daniel H. Burnham: Architect Planner of Cities,
2 vols 1st ed in slipcase, Houghton, Mifflin, 1921

some sci-fi pulp mags

C.A. Marchaj, Sailing Theory and Practice,
revised ed, Dodd, Mead, 1982

Books: 06-20

While you are waiting for the market to put in final highs before imploding, you may at least do yourself a favor and buy some more books.  Keep stacking while you still can -- are the bookstores open in Caracas these days?

We do not have cable TV or a game console in our house, but we do have countless 20th Century artifacts from MAD magazine, including more than 60 paperbacks.  Here's a sample.

MAD magazine paperbacks, mostly Signet editions

My kids read MAD, do yours?  And why not?  The large format paperbacks are especially good.  I never imagined having this much MAD swag when I was a kid.  These are true relics, and practically free for the taking these days, because the youth are all strung out on internet pornography and "Grand Theft Auto" in 1080P.

Al Jaffee

Dave Berg

Don Martin

Sergio Aragonés

Thomas Wakefield Goodspeed, The Story of the
University of Chicago: 1890-1925, Chicago, 1925 

This next book is actually really scarce and hard to find, especially with the maps included.  I've been looking for it for ages, and flipped out when I stumbled across it one day in Value Village for $2.

Rowland W. Tabor, Guide to the Geology of Olympic
National Park, University of Washington, 1975

Murray Morgan, The Dam.
Viking Press, New York, 1954

John Manchip White, Cortes and the downfall of the Aztec
Empire, St. Martin's Press, New York, 1971

William H. Prescott, Ferdinand and Isabella,
Heritage Press, New York, 1967

Michael Prawdin, The Mongol Empire: Its Rise and
Legacy, George Allen & Unwin, London, 1952

Michael Prawdin, The Builders of the Mogul Empire,
George Allen & Unwin, London, 1963

Georges Lefebvre, Napoleon, 2 vols
Columbia UP, NYC, 1970

This new Modern Library edition was nicer to read than my older edition.

Plutarch, Lives, 2 vols, Modern Library, NY, 1992

Jon Meacham, American Lion: Andrew Jackson in the
White House, Random House, NY, 2008

Isaac Asimov, The Foundation Trilogy,
Doubleday Science Fiction, NY, 1951

This last one I can burn when I am finished with it.

John Vivian, Wood Heat, Rodale Press, Emmaus, PA, 1976