Cognitive dissonance – may be the best way to describe the week’s ‘theme’: a time when the world unites against ‘Islamic Extremist’ Jihad, led by ISIS as well as other fundamentalist fanatics and retards; a time when the Russian Air Force outshines a year of apparently ‘selective’ bombing by the U.S. (perhaps because of Saudi pressures not to lean too heavily on IS until Assad was done as seems to have been the modus operandi, a defunct strategy if that turns out to be the explanation); while now that ISIS finally made (from their perspective) a colossal miscalculation by first downing a Russian commercial airliner, then hit one of the most beloved cities on Earth, which finally compels the reluctant (or at least our leadership of the) United States to better-engage in the World War which is being coordinated by France now, and militarily led by Russia. 

The further ‘straw’ in the wind happens to be the FOMC Minutes; which I’ll tend to focus on in tonight’s video, rather than here. But even there, a between the lines interpretation reveals why the market managed to shrug-off what might in normal times (less debt levels) imply bonds and stocks performing inversely. 

First, Paris. Congrats to the gendarmerie and French Army for persevering the overnight fight, which ‘may’ have nailed the ringleader of the vermin cell. At the same time exposing a separate cell said intending to attack the large shopping mall (La Defense area) tomorrow. And no, taking down terrorists does not give the enemy a recruiting tool, neither does minimizing risk by being selective on who gets into your country, or this Country. (The comparison with the St. Louis passenger ship turned away by a somewhat antisemitic United States back in 1939 does not apply; because Jews or anyone fleeing the Nazi’s wanted mere survival at the time; they certainly didn’t come to the US to undermine or attack as is the concern surely not of the majority, but a legitimate worry that already has been proven by events in Europe.) Paris is tense; but will survive; and the camaraderie between Western European nations is incredibly solemnly strong, such that I’m optimistic as before, that the European Union will become closer not fragmented, as a result (regardless of temporary security transit needs).