15 July 2013

Gold Daily and Silver Weekly Charts - A Sharknado of Mass Distractions

One of the top stories on Bloomberg TV today was a made for TV science fiction movie called 'Sharknado' which caught some Twitter buzz over the weekend because it was so outrageously bad, what they used to call 'campy' in the manner of badly made movie icon Ed Wood.

It was about a tornado that had picked up sharks, and artfully went about dropping them on unsuspecting people, in full frenzied attack.

During one of the two interviews with the people who made this Syfy shlock show, the Bloomberg anchors got so over the top in their praise and speculation about a sequel and Broadway musical that Tara Reid, an actress not noted for her Solomon-like wisdom, dismissed the anchor's ebullient praise somewhat embarrassedly. She looked pretty wise compared to those frivolous knuckleheads.

Alix Steel did some commentary on the gold market later on that was a veritable Sharknado of misunderstanding about what is happening in the commodity world. Perhaps she can star with Ms. Reid in the sequel.

I was saddened to see the news today that Finance is about to overtake Tech as the most profitable sector in the US economy. This speaks volumes to the foul partnership between Wall Street and Washington that is consuming the real economy with fees and frauds.

The New York - Washington Metroplex reminds me of the Capitol District in the The Hunger Games: removed, intellectually inbred, and increasing irrelevant, like a modern day Versailles.

And may the odds be ever in your favor.