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SMW for 10 November 2022




AT THE CLOSING BELL ON 10 November 2022


Dow Jones 33,715.37 +1,201.43 (3.70%)
S&P 500 3,956.37 +207.80 (5.54%)
Nasdaq 11,114.15 +760.97 (7.35%)

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Quote for the Day:

There will be set down in this book, in as simple and direct a fashion as I can write it, the story of Amalgamated Copper and of the "System" of which it is the most flagrant example. This "System" is a process or a device for the incubation of wealth from the people's savings in the banks, trust, and insurance companies, and the public funds. Through its workings during the last twenty years there has grown up in this country a set of colossal corporations in which unmeasured success and continued immunity from punishment have bred an insolent disregard of law, of common morality, and of public and private right, together with a grim determination to hold on to, at all hazards, the great possessions they have gulped or captured. It is the same "System" which has taken from the millions of our people billions of dollars, and given them over to a score or two of men with power to use and enjoy them as absolutely as though these billions had been earned dollar by dollar by the labor of their bodies and minds.

Thomas William Lawson. Frenzied Finance Vol. 1: The Crime of Amalgamated. The Ridgway-Thayer Company. (c)1905.