Mysql databases backup script OSX

gistfile1.txt

#! /bin/bash

TIMESTAMP=$(date +"%F-%H-%M-%S")
BACKUP_DIR="/Users/mfh/Dropbox/admin/backups/mysql"
MYSQL_USER="root"
MYSQL=/usr/local/bin/mysql
MYSQL_PASSWORD="password"
MYSQLDUMP=/usr/local/bin/mysqldump
$MYSQL -s -r -u $MYSQL_USER -p$MYSQL_PASSWORD -e 'show databases' |
while read db; do
$MYSQLDUMP -u $MYSQL_USER -p$MYSQL_PASSWORD $db > $BACKUP_DIR/$TIMESTAMP-${db}.sql;
done