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Leading Economic Indicators | New World Order

News of the Weird by Chuck Shepherd

By News of the Weird by Chuck Shepherd

Published Jan. 18 2016

Leading Economic Indicators	<B>|</B> New World Order

Art Basel, the annual weeklong festival for "One-Percenters" in Miami Beach, is scheduled for Dec. 1 to Dec. 6, and among the many excesses is the sale of on-demand caviar, available by text message, to be delivered in person within the hour, at $275 for a 125-gram tin. Miami New Times calls Art Basel "ComicCon for the world's moneyed elite," and among the extravaganzas is an "exotic dance club sheltered inside a greenhouse." Four thousand artists, from 32 countries, are participating. [Miami New Times, 11-17-2015]

"Crowdsourcing" start-ups (such as GoFundMe and Kickstarter) raise money online for projects such as underappreciated entrepreneurial ventures or families needing help with medical expenses. Day-trading dabbler Joe Campbell went online in November to beg for assistance after being crushed by a bet of the type that many say wrecked the U.S. economy in 2007-08. He held a pessimistic "short" position in his account on KaloBios Pharmaceuticals (KBIO) -- hoping to exploit traders overly optimistic about the company. However, overnight NASDAQ trading awakened him with news that KBIO's price had skyrocketed in frenzied trading and that Campbell now owed his broker $131,000 -- and Campbell's new GoFundMe post stoically asks strangers to please help him pay that off. [Marketwatch, 11-20-2015]

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