11 December 2017

Stock Markets and Precious Metals Charts - FOMC Decision Wednesday, Stock Option Expiration Friday

"They never open their mouths without subtracting from the sum of human knowledge."

Thomas Reed (R-Maine)

Bloomberg had economist Art Laffer, of the eponymous Laffer Curve, talking up the GOP 'Tax Reform' bill in all its 'trickle down' glory. I did not even know this retrograde nonsense peddler was still around, having been discredited in his economic theory of top down stimulus rebranded as 'supply side economics'. Now we know just how bad for the people this new tax legislation may be.

The last refuge of a scoundrel is Art Laffer.

Can a credibly accused and completely unrepentant sexual predator with a penchant for the underaged be elected to the US Senate? We may find out the answer to that tomorrow. Could be a new low for manners and morals, and a new high for political hypocrisy, which these days is really saying something.

I was listening to a citizen of that state in question providing an argument for the reasonableness of the age of consent to be 13, as it was in the good old days.  PR-wise the election may be a seminal event for Brand Alabama.

Most likely the Russians are to blame. And Wikileaks.  Certainly it is not due to any failing on our parts. We are exceptional.

It is funny to see the Democrats and their supply chain trying to claim the moral high ground with the Clintons and Wall Street hanging around their necks. 

There will be an FOMC rate decision on Wednesday. The entire market expects the Fed to raise 25 basis points. More or less than that will like shock traders who will suspect that the Fed is seeing something previously undisclosed.

And there will be a stock option expiration on Friday. So this looks like a good week to game the miners.

Speaking of gaming markets, the much awaited Bitcoin futures made their debut last night.  I still find it utterly incredible that they would bring out leveraged futures on such a thinly held, thinly traded and unregulated commodity.

And because of the increase in wickedness, the love of most will grow cold.

Have a pleasant evening.