Gold and the S&P U.S. Debt Downgrade
Gold continues to be the object of idiotic commentary by financial "experts" - even more so since the downgrade of U.S. debt by S&P.
While I usually don't waste much time tuning in to the financial "experts" on networks like Bloomberg, CNBC, etc., I've spent a bit more time doing this since the S&P downgrade. I've wanted to see what kind of "wisdom" is being dispensed out there if for no other reason than to know what people are hearing during this "tense" time.
You know it's tense, by the way, when the President of the U.S. makes a speech in the middle of the day - like he did today. Someone's advising him that the country's nervous and needs "leadership." So I wound up listening to that too. If his words soothe some, great. As for what he said, I'm not sure there's really much real content to comment on.
But so far, by far the most inane commentaries I've been listening to have been related to gold. I suppose these people feel they have to say something because gold has shot up over $1,700/oz. Frankly, they'd be better off just reporting the price and avoiding trying to say something intelligent - because, without exception, they've failed.
Maybe I can get more into some of the nonsense that's being spewed today. But I'm just too busy today to take the time to say anything right now. Besides, there's so much stupidity to comment on, unless you've got an hour or two, there's no way to address it all.
Ah, one plus for the President. He didn't say anything about gold during his comments. Smart move.
While I usually don't waste much time tuning in to the financial "experts" on networks like Bloomberg, CNBC, etc., I've spent a bit more time doing this since the S&P downgrade. I've wanted to see what kind of "wisdom" is being dispensed out there if for no other reason than to know what people are hearing during this "tense" time.
You know it's tense, by the way, when the President of the U.S. makes a speech in the middle of the day - like he did today. Someone's advising him that the country's nervous and needs "leadership." So I wound up listening to that too. If his words soothe some, great. As for what he said, I'm not sure there's really much real content to comment on.
But so far, by far the most inane commentaries I've been listening to have been related to gold. I suppose these people feel they have to say something because gold has shot up over $1,700/oz. Frankly, they'd be better off just reporting the price and avoiding trying to say something intelligent - because, without exception, they've failed.
Maybe I can get more into some of the nonsense that's being spewed today. But I'm just too busy today to take the time to say anything right now. Besides, there's so much stupidity to comment on, unless you've got an hour or two, there's no way to address it all.
Ah, one plus for the President. He didn't say anything about gold during his comments. Smart move.
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