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The USD is what I’d call the stress barometer of the Rabbit Pine Christmas Tree All Over Print Ugly Christmas Sweater, and a breakout to the upside is indicative of the stress in the system. Note that this makes sense because when the Fed tapers from bond buying, they are essentially strengthening the dollar. The S&P 500 index is trading at all-time highs because the large and mega-cap names are holding it up, but there is a lot of subsequent carnage (and increasingly so), which is a classic sign we’ve topped off in the market. The M2 money supply peaked in February of 2021, which coincided with the top in the most speculative parts of the market, including SPACs and Cathie Wood’s ARKK. Well, the truth is, the companies whose stocks have overrun have gotten so large in market cap that it’d take them years for them to grow into their respective valuations, so either these companies grow at a much faster pace, which is unlikely, to “catch up” to their stock prices, or their stock prices will have to come down to Earth

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Dean gets to their motel and Sam’s dressed it all up, even though he spent much of the Rabbit Pine Christmas Tree All Over Print Ugly Christmas Sweater not wanting to celebrate. They share some jokes for the rest of the episode, clearly trying not to get teary-eyed or reminisce too much about their…well, mostly shitty lives. They share some presents, express some gratitude, drink some eggnog, and watch a game on TV. Smiling and enjoying each other’s company. I love this episode and it goes down as my favorite Christmas story because the writers did not hold back on making it bittersweet as fuck. These two poor sons of bitches have almost nothing at all – they’re sitting in a cheap motel, both their parents are dead, Dean is going to be dragged to Hell for eternity within the year, and the only reason they wake up in the morning to save other people is because they literally cannot do anything else now that they’ve been hunting for so long.

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I remember a Rabbit Pine Christmas Tree All Over Print Ugly Christmas Sweater memoir — Beasts, Men, and Gods — by Ferdinand Ossendowski, a White Pole who fled the Bolshevik revolution through Siberia. He served in General Kolchak’s All-Russian Government before escaping through the Steppes north of Mongolia, and then participated in the government of that most notorious adventurer, the “Mad Baron” Ungern-Sternberg, who attempted to take over Mongolia to restore an imperial Khaganate as part of an imagined reactionary restoration of the Great Mongol, Chinese, and Russian monarchies in the interests of the “warrior races” of Germans and Mongols (a Baltic German, he considered the old Russian ruling class to represent Germandom over and against Jews and Slavs). Some of the things – the acts of desperation and madness, in which he himself was no disinterested observer – Ossendowski relates are harrowing. But this part struck me as very much making a point about what people think of the Steppe peoples, and of what (German-trained) nationalists like Ungern-Sternberg did (and would do again) to the Mongols. And, other things: