No follow through in stocks… no bounce in gold. The S&P 500 is at an all-time high. Gold is approaching its low for this cycle.
What useful information is there in this news? Probably none. So, we wrap our commencement address to the Class of ’14 (You can find parts I, II and III here, here and here.) Note that we do this a cappella – alone that is. We will find no allies. Neither on the left nor the right. Expensive education and cheap credit have done their jobs. No one wants to endanger his credit score or his security clearance.