I Want to Know Where the Gold At

Saint Patrick's DaySaint Patrick's Day provides a great reminder of how seriously to take financial media.

Happy Saint Patrick’s Day!

It seems like reporters go out of their way to find the craziest people to put on camera for a story.  It certainly seems to be the case in the financial entertainment community where you can find perma-bear hucksters given the same regard as respected economists and CEOs.  When I see one of these jokers on CNBC I think of this video:

I lump people calling for an audit of the Fed, urging a hand-count of gold ETF bullion holdings, and gold salesmen on AM radio in the “I want to know where the gold at” camp.

Then there are the chartists who show a Hindenburg Omen or a Death Cross or a chart with labels on three axes or an overlap of today’s market over a chart of 1929 or 1987.  These are the amateur sketch artists of CNBC.

Contributors like Josh Brown do their best to keep a straight face, but can wind up as the lone voice of reason in a sea of leprechaun flute peddlers.

It’s Saint Patrick’s Day in Cleveland.  Go eat some corned beef, drink some green beer, watch the parade, and then watch your bracket fall apart.