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.

SP 500 and NDX Futures Daily Charts - Ship of Fools

Retail sales came in much worse than expected with Sales ex-auto dead flat.

The Empire manufacturing number came in 'better than expected.'

The equity market was in a float up mood in light volumes.

CPI out tomorrow. I doubt it will have much meaningful content.

Weekend Reading: And What Then of the Other?

And who in this story is 'the other?'

Are there more than one?   Who is not 'the other?'

And behold, a certain lawyer stood up and tested Him, saying, “Master, what shall I do to inherit eternal life?”

Jesus said to him, “What is written in the law? How do you understand it?”

And the lawyer answered Him saying, “‘Thou shalt love the Lord your God with all your heart, and with all your soul, and with all your strength, and with all your mind, and your neighbor as yourself.’”

And Jesus said to him, “You have answered rightly; do this and you shall live.”

But the lawyer, wanting to justify himself, said to Jesus, “And who is my neighbor?”

And Jesus answered him saying, “A certain man went down from Jerusalem to Jericho, and fell among thieves, who stripped him of his belongings, assaulted him and departed, leaving him half dead.

And by chance there came down a certain priest that way. And when he saw him, he passed by on the other side.

And likewise a Levite, when he was at the place, came and looked at him, and passed by on the other side.

But a certain Samaritan, as he journeyed, came to where he was. And when he saw him, he had compassion for him. He went to him and bound up his wounds, pouring oil and wine on them. And he set him on his own beast, and brought him to an inn and took care of him.

And on the next day when he departed, he took out two pieces of silver, and gave them to the host and said to him, ‘Take care of this man.  And if  you spend more, when I come back this way I will pay you.’

Which of these three do you think was a neighbor to him that fell victim to the thieves?”

And the lawyer said, “He that showed mercy to him.” Then Jesus said, “Go you, and do likewise.”

Bill Moyers: Weapons Of Mass Distraction and Bending Towards Justice