It was as impressive as a +3 point rally in the Dow could be Tuesday as the early rally attempt collapsed, but, somehow, stocks found a way to climb off the canvas. It is not always those triple-digit rallies that matter. In fact, in this tenuous start to 2015, it is sessions like this week that speak more to the state of the investor.
I like the action in gold which sees a big breakout with a close above 1,300, moving toward my 2015 target north of 1,400. The move speaks to uncertainty that might not hold down stocks or bonds, but it will attract funds into a fresh safe haven.
Gold
Words Matter
The Atlantic has this cool interactive chart showing the use of a variety of words, including employment, war, inflation, and the Constitution in the State of the Union address; two really stood out to me as a sign of the times.
One is freedom, which, according to the article, was not a hot buzzword until the famous 1941 speech from FDR on the four freedoms. These four freedoms: freedom of speech, freedom of worship, freedom from want, and freedom from fear were immortalized in Norman Rockwell paintings.
I felt three were no-brainers, but the freedom from want always bothered me. It is the foundation of progressive thinking. The government must make sure we all have bountiful lives as a birthright whereas I think; we should be able to earn bountiful lives.
Use of the Word Freedom
Then, there is the word ‘public’ explained by the Atlantic, as the notion that “Debts, lands, currency, and roads were all public trusts administered rather than owned by the government.”
That notion has died, as it seems the established political class on both sides of the aisle see a more parochial role for government, which is possessive and controlling rather than a servant of the people.
Use of the Word Public
If Americans are to take back their government, we need to hear the words freedom and public a lot more while hearing taxes and programs a lot less.
Last night, President Obama mentioned the economy, jobs, and families, which is good, because it must mean there are improvements there, but no public or freedom, and that is disappointing for reasons that go far beyond the politics of the moment, and how much citizens have ceded to their government over the years.
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