There were just too many 'let them eat cake' moments on financial TV to recount this week.
So many smart people, feigning ignorance. Or at least one might presume they don't know. The discussion of world economic events such as the Argentine debt situation is bad enough and borderline delusional, but the discussion of median wages and The Recovery™ is just appalling.
The best part of this week is that it is over and done.
Next week will be shortened in the US for the national holiday on the 4th of July.
And as all new months bring there will be the June Non-Farm Payrolls report on Thursday. There will actually be quite a bit of data coming out next week. And many will be taking off early, so the trading desks may be staffed by underlings, interns, and algos.
Have a pleasant weekend. See you at the Hamptons. (not).
