news.goldseek.com >> 29 January 2010
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news.goldseek.com >> 29 January 2010 |
The Descent of Money
By: Bill Bonner, The Daily Reckoning
Science and technology have produced many wondrous breakthroughs. But there are some things it cannot improve. A kiss from natural lips is still the lover’s choice. Baby formula proved no match for the real thing. Ersatz money is a flop too. That last item is not so much a fact as a prediction.
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news.goldseek.com >> 7 January 2010 |
Paying for the Mistakes of the Public Economy
By: Bill Bonner, The Daily Reckoning
Carmen Reinhardt and Ken Rogoff say that “higher debt may stunt economic growth.” Hey, this is getting interesting. Maybe we’re not entirely alone here at The Daily Reckoning.
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news.goldseek.com >> 1 December 2009 |
Gold… Selling is the Hardest Part
By: Eric J. Fry, The Daily Reckoning
Ten years ago, everyone on the planet knew gold was a “Sell.” (Incidentally, everyone also knew that JDS Uniphase and Pets.com were “Buys.”) Investors scorned it. Central bankers sold it. Economists eulogized it. Today, gold is hated less…which causes some gold investors to worry that their favorite precious metal has become too popular for its own good. “Is the gold bull market about to hit a wall?” they ask themselves.
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news.goldseek.com >> 29 November 2009 |
Freak Show
By: Bill Bonner, The Daily Reckoning
There are so many breathtaking things going on around us we practically suffocate. Last week, three-month US Treasury-bills yielded all of 0.015% interest. Some yields were below zero. In effect, investors gave the government money. The government thanked them and promised to give them back less money three months later. How do you explain this strange transaction? Was there a full moon?
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news.goldseek.com >> 17 November 2009 |
Bribing Consumers to Save the Economy
By: Bill Bonner, The Daily Reckoning
The US now has the highest unemployment rate of all major economies. Even France – historically, an economy with high jobless rates – is at 9.5% unemployment, while the US is 10.2%. As for inflation, the lowest inflation rate among the world’s larger economies is in – you guess it – Japan. After 20 years of on-again, off-again deflation, it’s on again in Japan…with inflation at NEGATIVE 2.2%. But inflation is negative in the US too – at minus 1.3%.
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news.goldseek.com >> 15 November 2009 |
Beware the Government’s Handiwork
By: Bill Bonner, The Daily Reckoning
It doesn’t occur to them that the problems in the housing industry are almost exclusively the fault of the federal government in the first place. The feds subsidized mortgages, encouraged mortgage lending to people who should have been renting, and lowered interest rates. These fixes created a bubble in the housing sector. No bubble expands forever. Eventually, they all blow up…which is what happened.
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news.goldseek.com >> 14 October 2009 |
Boomers Have Their Backs Against the Wall
By: Bill Bonner, The Daily Reckoning
Gold is in a bull market. How far it will go and how long it takes it to get where it is going, no one knows. No one knows, either, how many scrapes and setbacks it will suffer before it finally reaches its destination. But it is a bull market. And you don’t ask questions in a bull market. You get on board and ride it to the end.
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news.goldseek.com >> 8 October 2009 |
Gold Touches a New Record
By: Bill Bonner, The Daily Reckoning
Well, what do you expect? The United States added $1 trillion to its monetary base in the last year or so. The federal government is running a deficit of $1.7 trillion this year. And along comes Barack Obama with an idea to stimulate employment – spend more money! This time, Obama’s plan is a kind of ‘Cash for Workers’ program…in which businesses get a tax credit for hiring new employees.
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news.goldseek.com >> 30 September 2009 |
The House Bounce?
By: Bill Bonner, The Daily Reckoning
Houses bounce too… Not much happened yesterday. The Dow fell 47 points. The newspapers attributed the reversal to surprisingly low consumer confidence numbers. Apparently, consumers aren’t so sure this crisis is over. As we reported yesterday, they’re saving money…maybe even at an 8% rate.
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news.goldseek.com >> 29 September 2009 |
The Battle of the World Financial System Drags On
By: Bill Bonner, The Daily Reckoning
The rally may end any day, but it didn’t end yesterday. Stocks rose 127 points, as measured by the Dow. Oil closed at $66. Gold rose $2.50. We said we were doing some serious thinking this week. Maybe it is the season. But more and more, our thoughts become grayer. Less black. Less white. Less hard. Less soft.
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news.goldseek.com >> 28 September 2009 |
What Causes a Depression?
By: Bill Bonner, The Daily Reckoning
It is a gray morning here in London. We sit in the building with the golden balls, look out the window, and wonder…how does it all work? We’re doing some serious thinking this week. What is it that actually causes a depression? A stock market collapse?
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news.goldseek.com >> 24 September 2009 |
A 21st Century Depression
By: Bill Bonner, The Daily Reckoning
The inflation/deflation debate is hot… It crackles and pops like a pine fire. But it gives off little helpful light. Abe Lincoln may have read by the light of an open fire. But when tried it, we singed our eyebrows. It made us suspicious of Old Abe; maybe he wasn’t quite as truthful as he pretended to be. Later, we realized he was a mountebank. But that’s another story…
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news.goldseek.com >> 23 September 2009 |
Buggish on Gold
By: Bill Bonner, The Daily Reckoning
The trouble with being a contrarian is that you can never be quite contrarian enough. We began having doubts about the ‘feds inflate…gold soars’ hypothesis last year. It was too easy…too obvious. And if it were that easy to inflate a nation’s currency, how come the Japanese couldn’t get the hang of it in the ’90s?
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news.goldseek.com >> 22 September 2009 |
There’s No Flu Shot for the Thrift Bug
By: Bill Bonner, The Daily Reckoning
In the relatively short term we still face the shock of another leg down of the credit contraction crisis. Risk is likely to make a comeback. When that happens – and it could happen in a ‘Red October’ – the dollar will seem like a relatively solid refuge. This is what happened last year. We wouldn’t be surprised by a replay of that ‘flight to safety’ we saw at the end of last year.
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news.goldseek.com >> 15 September 2009 |
A Floor Beneath the Gold Price
By: Bill Bonner, The Daily Reckoning
The UK Telegraph recently quoted at length Cheng Siwei, former vice chairman of the Standing Committee of the Chinese Communist Party. He explained how Beijing is dismayed by the “credit easing” coming out of the Federal Reserve.
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news.goldseek.com >> 14 September 2009 |
The World After the Fall of Lehman
By: Bill Bonner, The Daily Reckoning
This week marks the one-year anniversary of the Lehman bankruptcy. The media struggles to say something meaningful about it. Here at The Daily Reckoning we will not even attempt meaningfulness. We’ll be satisfied with a few snide remarks.
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news.goldseek.com >> 13 September 2009 |
The Destruction of the US Empire
By: Bill Bonner, The Daily Reckoning
Edward Gibbon described the happiest age of mankind as the period of the “five good emperors” between AD98 and AD180, when Marcus Aurelius died. What was America’s Golden Age?
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news.goldseek.com >> 10 September 2009 |
Are We Still in a Gold Bull Market?
By: Bill Bonner, The Daily Reckoning
Gold closed at $999 on Tuesday. Then, yesterday, it closed down $2. There’s a time to buy gold; and there’s a time to sell it. Which time is it? The question rose with the gold price itself. It needs an answer.
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news.goldseek.com >> 9 September 2009 |
A Consumer Economy at a Standstill
By: Bill Bonner, The Daily Reckoning
This recovery is wonderful in every way, except the important ones. It is like a shiny new airplane. It has glossy aluminum wings. It has plush seats in the first class section. Trim stewardesses serve drinks. Movies are available on demand in all sections.
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news.goldseek.com >> 8 September 2009 |
The Boomers are Out of Time – And Out of Money
By: Bill Bonner, The Daily Reckoning
Clowns to the left of us…jokers to the right… The Simpleton’s Analysis: Consumers cut back. The economy sank. Now, government must take action. It must help people out and take up the slack.
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news.goldseek.com >> 19 August 2009 |
Learn to Love the Depression
By: Bill Bonner, The Daily Reckoning
A V-shaped recovery? A W-shaped recovery? Forget it…there ain’t no letter in the alphabet that describes a “recovery” we’re likely to have.
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news.goldseek.com >> 10 August 2009 |
The Bounce Phase of the Economic Depression
By: Bill Bonner, The Daily Reckoning
“It looks like things are finally turning around,” said a friend at Saturday night’s dinner. “Not at all…” we replied. Paul Krugman says the world “avoided a second Great Depression.” He’s wrong too.
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news.goldseek.com >> 5 August 2009 |
Housing Numbers Err on the Bright Side
By: Bill Bonner, The Daily Reckoning
Is it time to buy a house? Depends… If you need a place to live and want to own a house, why not? Prices in some areas are fairly reasonable. But if you’re speculating, our guess is that you’ll get a better deal if you wait.
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news.goldseek.com >> 29 July 2009 |
A Piece of the Stimulus Pie
By: Bill Bonner, The Daily Reckoning
Despite what you are most likely reading in the press, the folks getting bailout money are pretty sharp. They’re very good at gaming the system. More about that in a minute. First, the Dow went nowhere yesterday. Gold fell $14 to $939. And Newsweek magazine announced, “The Recession is Over.” Newsweek hedged its bets; adding that the recovery won’t be a piece of cake.
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news.goldseek.com >> 16 July 2009 |
This Too Shall Pop
By: Bill Bonner, The Daily Reckoning
The monsoons came to an end yesterday afternoon…more below… In the meantime, the Financial Times, on the final page of the first section, reports the big news: “China…is back in bubble land.” After the expansion comes the contraction. After the bubble comes the clean-up. After the storm comes the sun.
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news.goldseek.com >> 15 July 2009 |
An Economy on Life Support
By: Bill Bonner, The Daily Reckoning
Our faith is weakening. That is, our faith that the government will be able to cause inflation, sooner or later. Let’s review our own narrative: deflation now, inflation later.
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news.goldseek.com >> 14 July 2009 |
Preparing for the New Economy
By: Bill Bonner, The Daily Reckoning
“America is beginning to consider a new stimulus program,” said Irish television last night. It was a rainy day in the Emerald Isle yesterday. The wind was blowing. Rain was coming down. By 7pm, it was time for a pub and a drink. The Irish know what to do in the evening…
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news.goldseek.com >> 30 June 2009 |
The Extraordinary Evil of Bernie Madoff
By: Bill Bonner, The Daily Reckoning
Let the punishment fit the crime! Poor Bernie. The man has been ordered to spend 150 years in the hoosegow. What for? Who did he kill? A century and a half seems a little excessive for a financial crime. You could hold up three liquor stores and rape a whole convent and still not get 150 years. With a little bit of good lawyer-ing, a history of child abuse in the family, and good behavior in the big house, you’d be back on the street in 18 months.
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news.goldseek.com >> 25 June 2009 |
What’s the Purpose of a Correction?
By: Bill Bonner, The Daily Reckoning
Progress is mixed. US consumers seem to have straightened up pretty fast. After the crash, they went into therapy and rediscovered their inner squirrel. Now, according to news and anecdotal reports, they’re saving all the cash they can. Savings rates, which had been near zero, are now bouncing up towards 5%.
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news.goldseek.com >> 15 June 2009 |
Curing One Financial Disaster With a Worse One
By: Bill Bonner, The Daily Reckoning
And what about this time? The evidence we see tells us that the underlying economy is getting worse, not better. In addition to the figures cited above, there are the inflation rates. Inflation in America and Britain is coming down…to around 2%. In Europe it has already fallen into negative territory…with rates heading to minus 1%.
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news.goldseek.com >> 12 June 2009 |
Kleptocracy in America
By: Bill Bonner, The Daily Reckoning
Reading the obituaries is such a delight. First, it is a relief when you find your name not mentioned. Then, it is a joy when you find those that are. Not that we wish to see any man’s name on the roll of the dead; still, the final audits are always the most revealing. Here on the back page, we admire honest scalawags…and learn from them. Thus was our attention drawn to Mr. Omar Bongo’s exit from the mortal stage on June 8th.
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news.goldseek.com >> 11 June 2009 |
Still Facing Depression and Hyperinflation
By: Bill Bonner, The Daily Reckoning
It’s the Ultimate Fighting Event – Worldwide Economic Mud Wrestling! See it now! First, the Honey Hun…German Chancellor Angela Merkel… took on a whole pack of central bankers and economists, charging that they were going to make the situation worse – by spending money they didn’t have…and causing inflation.
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news.goldseek.com >> 9 June 2009 |
Two Ways to Deleverage an Economy
By: Bill Bonner, The Daily Reckoning
The dumb money is fairly easy to spot. It’s the money that always shows up late to the party, wearing yesterday’s fashions. It watches TV and thinks the reality shows show reality…it thinks Ben Bernanke is a great economist…that the SEC protects investors from fraud and misrepresentation…and that Tim Geithner makes sure the economy keeps running smoothly.
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news.goldseek.com >> 8 June 2009 |
The Deflationary Downturn
By: Bill Bonner, The Daily Reckoning
Stocks and oil both held steady on Friday. Gold, however, took a big hit – minus $26. There are three kinds of money in the marketplace. There’s the smart money that goes with the trend. There’s the dumb money that bets against the trend. And there’s the money that doesn’t know whether it is coming or going.
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news.goldseek.com >> 4 June 2009 |
US Stuck in Inflation-Causing Positions
By: Bill Bonner & The Daily Reckoning Crew
Angela is a genius. Tim is a schmuck. That’s what we took away from yesterday’s news. As near as we can make out, Tim Geithner’s trip to Beijing was, at best, a draw. He told his soothing lies. China listened. The markets reacted favorably.
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news.goldseek.com >> 28 May 2009 |
To Hell in a Bond Basket
By: Bill Bonner, The Daily Reckoning Crew
At the end of last year, America’s great buddy, China, changed its policy. Instead of buying long-dated US debt, China began buying the short stuff. China’s top man openly wondered whether the US would be able to protect the value of the dollar and keep its promises to foreign lenders.
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news.goldseek.com >> 25 May 2009 |
The Dollar Dike Gives Way?
By: Bill Bonner, The Daily Reckoning Crew
“China stuck in dollar trap,” says the headline on the front page of the Financial Times. The FT says China is buying more U.S. bonds than ever. It must…according to the news report…because it has too many. Unless it supports the dollar, it risks a big collapse in the value of its foreign exchange holdings (mostly in dollars).
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news.goldseek.com >> 22 May 2009 |
An Avalanche of Claptrap
By: Bill Bonner, The Daily Reckoning
Like snow at high altitudes, the central banks’ new money is piling up. As reported last week, all the world’s major central banks have turned on their snow machines. The US Federal Reserve has been authorized to “print” $1.75 trillion worth of new money in order to buy Treasury bonds.
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news.goldseek.com >> 21 May 2009 |
Bailouts the Plaque of Economic Hygiene
By: Bill Bonner, The Daily Reckoning
Is it on…or off? The bear market rally, that is? The Dow was down again yesterday…but just a little…52 points. The short-covering rally is finished, says David Rosenberg, formerly one of Merrill’s top analysts.
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news.goldseek.com >> 18 May 2009 |
Inflation Targeting Perils
By: Bill Bonner, The Daily Reckoning
Ol’ Merle Hazard has the key question figured out. Which will it be? Zimbabwe or Japan? Will it be runaway inflation…or deflation that refuses to run anywhere? Long suffering Daily Reckoning readers already have our answer. We gave it even before the bubble burst in ’07/’08.
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news.goldseek.com >> 14 May 2009 |
Time to Sell Stocks
By: Bill Bonner, The Daily Reckoning Crew
Have you checked your stops, dear reader? Remember back in November, we waited for the Obama Bounce? It was the one of the most reliable phenomena in the world of investing, we said. Then, we began to wonder. Month after month…no bounce.
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news.goldseek.com >> 12 May 2009 |
Is America Overstretched?
By: Bill Bonner, The Daily Reckoning
There are two broad theories concerning the great men of history. One says that history is made by great men. The other says great men are made by history. But here at The Daily Reckoning we think they’re both wrong. In our book, great men don’t really exist. They are merely invented by the historians.
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news.goldseek.com >> 11 May 2009 |
Capitalism at Work
By: Bill Bonner, The Daily Reckoning
We made a brief trip back to France for a board meeting. Returning to London, people all seemed to be in mourning. Black is the color in London. Everyone wears black. Black pants, black skirts, black coats…
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news.goldseek.com >> 8 May 2009 |
Government Counterfeiting
By: Bill Bonner, The Daily Reckoning
Don’t try QE at home, dear reader; you’ll be arrested for counterfeiting. QE so closely resembles old-fashioned printing press money that you couldn’t tell them apart in a police line up. Both are ways to increase the supply of money…which, according to theory, leads to consumer price inflation.
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news.goldseek.com >> 7 May 2009 |
The War On Capitalism Continues
By: Bill Bonner, The Daily Reckoning
The bear rally continues…it is about to enter its 9th week. And the War on Capitalism continues! The Dow rose again yesterday – up 101 points. Oil went up too – to $56. The dollar held steady. And gold was up again…to $911.
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news.goldseek.com >> 6 May 2009 |
Bernanke’s Crystal Ball
By: Bill Bonner, The Daily Reckoning
Thank god for laser eye surgery! Now, the people who were blind to the biggest financial crisis in the history of the world can see clearly again. And what do they see? A recovery! “Bernanke strikes note of hope on economy,” says the headline in today’s International Herald Tribune.
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news.goldseek.com >> 5 May 2009 |
Market Deceptions
By: Bill Bonner, The Daily Reckoning
Happy days are here again! Enjoy them while they last… “Optimism builds,” says a headline in the Financial Times. As predicted, the world markets are enjoying a bounce. People who had no idea there was anything wrong with the world financial system two years ago, now say the problem has been fixed.
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news.goldseek.com >> 4 May 2009 |
How Unions and Governments Destroy Businesses
By: Bill Bonner, The Daily Reckoning
In the newspapers there is much discussion of what General Motors should do. This discussion has gone on for many years. Until now, it was a conversation carried on by serious analysts and auto industry experts. They all said the same thing: GM needed to clear out its management, dump much of its expensive, “legacy” overhead, and produce better cars. Why didn’t it do so?
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news.goldseek.com >> 1 May 2009 |
An Even Greater Depression
By: Bill Bonner, The Daily Reckoning
Not infrequently, governments ‘shoot themselves in the foot.’ But in the current event, they have brought out the biggest cannon in history. We look on with amusement as they blow their fool heads off.
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news.goldseek.com >> 30 April 2009 |
How Gold Will Top $2,000 Per Ounce
By: Chris Mayer, The Daily Reckoning
You no longer have to be a gold bug to think gold will rise in price. In fact, this buying by some of the world’s greatest investors may be the leading indicator for a quick 116% climb – to $2,000 per ounce or higher. Give gold the cold stare of a professional handicapper and the odds look very good, indeed.
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news.goldseek.com >> 29 April 2009 |
Voodoo Economics
By: Bill Bonner, The Daily Reckoning
Finally…we’re back in London. We left at the beginning of April…went to San Diego and Los Angeles…then to Buenos Aires and Salta…then to Paris for a few days.. and now we’re back. London is cold and rainy…just like we left it. Not exactly home…but it will do.
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news.goldseek.com >> 28 April 2009 |
Shifting Toward an Un-free Market
By: Bill Bonner, The Daily Reckoning
Pontiac is going out of business after 82 years. And General Motors is being taken over by the government. Here at The Daily Reckoning’s office in Paris, we are delighted. It’s like being alive when extra-terrestrials finally come calling. Or when the Pope becomes a Mormon. We’re getting to see things we never thought we’d see…amazing things.
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news.goldseek.com >> 27 April 2009 |
Not Depressed Yet
By: Bill Bonner, The Daily Reckoning
When we left three weeks ago, it was cold and rainy in Europe…and the world was in the midst of a terrible financial crisis. But now we’re back…and everything has changed. The trees along the Boulevard de la Villette have leafed out. Flowers are in bloom. People are sitting at sidewalk cafes. Life seems to be returning to normal.
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news.goldseek.com >> 26 April 2009 |
Rabid with Debt
By: Bill Bonner, The Daily Reckoning
“How do you feel now?” asked a reporter for a local investment magazine. “I mean, you’re a contrarian…and you were right about so much?” “Not exactly,” we explained. “Yes, we saw the problem coming. And we expected the government would do all the wrong things – which it has. But we never imagined that they’d do so many stupid things all at once.”
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news.goldseek.com >> 24 April 2009 |
Cry All You Want
By: Bill Bonner, The Daily Reckoning
Today, Argentina is a mess. But it is an adulterated mess. The restaurants in Buenos Aires are still full. The beef is tasty. The women are pretty. The weather is nice. But so distrustful of Argentina’s public finances are investors that you could earn as much as 70% yield on a peso bond – the implied yield at today’s heavily discounted prices.
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news.goldseek.com >> 22 April 2009 |
Is the Bounce Still Bouncing?
By: Bill Bonner, The Daily Reckoning
In the meantime, the Dow rallied a bit yesterday – up 127 points…barely half of what it lost on Monday. Is the bounce still bouncing? We don’t know. But we don’t trust it. They say the stock market ‘looks ahead.’ So, it is possible for it to see things we can’t see. On the other hand, what was it looking at two years ago? Didn’t it see the economy going over a cliff? Apparently not.
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news.goldseek.com >> 21 April 2009 |
Getting in the Spirit of the Depression
By: Bill Bonner, The Daily Reckoning
As near as we can tell, the financial world conveniently remained on hold while we were gone. As of Sunday night, little had changed. Gold, stocks…economists…politicians – they’re all about where we left them. That is to say, the bear market rally on Wall Street continued... But yesterday, the rally on Wall Street got smacked in the chops.
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news.goldseek.com >> 13 April 2009 |
The Feds Keep Spending Alive
By: Bill Bonner, The Daily Reckoning
What a wonderful time to be alive! Never has it been easier to feel superior to our fellow man! So many dopey ideas…so many preposterous delusions! So many fools…so eager to part ways with their money!
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news.goldseek.com >> 10 April 2009 |
A ‘Rebubble’ Attempt
By: Bill Bonner, The Daily Reckoning Crew
The rally is on! The Dow rose another 246 points yesterday.
Enjoy it while it lasts…but keep those trailing stops tight.
The “End of the Rally is Nigh,” says Barron’s.
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news.goldseek.com >> 9 April 2009 |
Deflation’s Return
By: Bill Bonner, The Daily Reckoning Crew
The Dow rose 47 points yesterday…and is up around 180 points this morning. Not too much…but the rally is still on. More or less. But don’t trust it…keep moving up those stops. The state of the economy can be summed up this way, according to our friend Barry Ritholtz, author of The Big Picture blog and the forthcoming book Bailout Nation.
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news.goldseek.com >> 8 April 2009 |
The Great Deception
By: Bill Bonner, The Daily Reckoning
It’s the Great Deception… Not much time to write this morning. In a few minutes, we’re getting on a flight from L.A. to Buenos Aires. Now, in the lounge in Houston, we’re wondering if the bear market rally is over…
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news.goldseek.com >> 7 April 2009 |
A Sucker’s Rally
By: Bill Bonner, The Daily Reckoning
Japan says it’s going to announce another $100 billion stimulus program this week. That should do the trick. After 17 years of bailouts and stimulus programs, the Japanese should be getting good at them. But it’s a little like a guy who’s getting good at suicide – if he’s so good at it, you’d think he’d be dead by now.
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news.goldseek.com >> 3 April 2009 |
How to Put the “Great” into a Depression
By: Bill Bonner, The Daily Reckoning
What a wonderful time to be alive! We get to see things we had only read about in the history books…such as a Great Depression. A depression, of course, is a natural and recurring feature of capitalism. But a Great Depression usually requires lobbying.
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news.goldseek.com >> 2 April 2009 |
Capitalism is Doing its Work
By: Bill Bonner, The Daily Reckoning
We’re playing it straight today. And, as usual, optimistic… The world is NOT going to Hell in a handcart. After a long time spent in the handcart, it is finally getting out and standing on its two feet. Americans are beginning to save again. The Chinese are beginning to look for other places to sell their gadgets and paraphernalia.
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news.goldseek.com >> 1 April 2009 |
A Talk With Tim Geithner
By: Bill Bonner, The Daily Reckoning
Our phone rang yesterday. You know, the hotline we set up to help Treasury Secretaries and Finance Ministers cope with the problems of the global financial meltdown? We picked it up…it was Tim Geithner!
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news.goldseek.com >> 31 March 2009 |
The Feds Take on the Auto Industry
By: Bill Bonner, The Daily Reckoning
We’re delighted to see Mr. Obama in action…rolling up his sleeves and taking direct action to straighten out the U.S. auto business. In this world of collapsing asset values and depression, we needed a laugh.
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news.goldseek.com >> 30 March 2009 |
The Dollar’s Days are Numbered
By: Bill Bonner, The Daily Reckoning
The dollar’s days are numbered. We are beginning to feel sorry for it…as we do all lost causes. Trouble is, we don’t know whether it’s a big number or a little number that marks the dollar’s last days.
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news.goldseek.com >> 20 March 2009 |
Bernanke Fires Up the Printing Presses
By: Bill Bonner, The Daily Reckoning Crew
Wham! For a while, investors didn’t seem to know what had hit them. They were dazed…dumbfounded…awe-struck… The Bernanke Fed announced a “stunning” plan to save the world from depression on Wednesday. The numbers were hard to follow, but they were big:
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news.goldseek.com >> 19 March 2009 |
U.S. Bonds – the Riskiest Safeguard in Financial History
By: Bill Bonner, The Daily Reckoning
It’s the waterslide into Hell! Whee! What a day. Under cover of the AIG scandal, the Fed did something foolhardy yesterday. “Fed plan stuns investors,” says the headline in the Financial Times this morning. It should stun us all. But we’re getting used to expensive bamboozles.
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news.goldseek.com >> 18 March 2009 |
The Fix Is in at AIG
By: Bill Bonner, The Daily Reckoning
Don’t forget, this is not a new bull market. It is a bear trap…a rebound in an on-going bear market. After this phase of anger passes…people will probably feel that the worst is behind us. They’ll squint and see a “light at the end of the tunnel.” Later on, they’ll realize that the light is an on-coming freight train!
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news.goldseek.com >> 17 March 2009 |
Where the Bailout Money is Really Going
By: Bill Bonner, The Daily Reckoning
Pity the rich. Pity the CEOs. Pity the capitalists. Poor Warren. He’s down to his last $25 billion. And Bill Gates can barely hold his head up; his pile has shrunk to barely $18 billion. And do a Google search of “AIG outrage” and you will get 621,000 hits. Alas, being rich isn’t as easy or as much fun as it used to be.
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news.goldseek.com >> 16 March 2009 |
A Stock Market Rebound?
By: Bill Bonner, The Daily Reckoning Crew
Gird up your loins, dear reader. Put wax in your ears and lash yourself to the mast. You are about to be tempted. “Lead us not into temptation,” says the famous prayer. The old timers knew we were weak. They knew we couldn’t resist. They didn’t pray that we would “just say no” to temptation. They knew that wouldn’t happen. Instead, they prayed to God to keep temptation away from us.
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news.goldseek.com >> 13 March 2009 |
How to Save the World
By: Bill Bonner, The Daily Reckoning
The problem was pronounced “contained,” by then-US Treasury Secretary Hank Paulson on April 7th, 2007. And then, on July 20th, Fed chairman Ben Bernanke admitted that the crisis could bring losses up to $100 billion.
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news.goldseek.com >> 12 March 2009 |
The Great Red Hope
By: Bill Bonner, The Daily Reckoning
The Great Red Hope. We’ll get to the commies in a just a moment. First, a question: what happened to Tuesday’s big rally? Yesterday, stocks held steady. The dollar lost ground. And gold rose back over $900. So, are we at the beginning of a major rally…or did it end in a single day? We wait to find out.
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news.goldseek.com >> 11 March 2009 |
A Bear Market Rally?
By: Bill Bonner, The Daily Reckoning
Stocks in the United States have lost $11 trillion in value – more than cut in half – without a single major bounce. We expected one after Obama was elected. All we got was a 15% ricochet. Then, after he announced his major stimulus/bailout/boondoggle program…we thought, surely, stocks would rally then. Nope. Instead, globally, stocks are down 20% since Obama office.
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news.goldseek.com >> 10 March 2009 |
U.S. Banks Overrun by Dirty, Rotten Scoundrels
By: Bill Bonner, The Daily Reckoning
Dirty, Rotten Scoundrels. The world is full of them. Our theme today comes from a movie, in which Michael Caine teaches Steve Martin how to be a gigolo. The idea is to identify rich, vulnerable women…seduce them…and then take their money.
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news.goldseek.com >> 9 March 2009 |
World Economy: Negative Growth - Or Positive Collapse?
By: Bill Bonner, The Daily Reckoning
“Negative growth,” says today’s paper. Yes, dear reader. Stocks are advancing to the rear…and economies are growing…smaller. How we love these oxymorons! If only we could age negatively…and eat all we wanted and gain minus pounds!
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news.goldseek.com >> 8 March 2009 |
A Crash Course in the World Credit Markets
By: Bill Bonner, The Daily Reckoning Crew
“Substantial doubt,” say auditors at Deloitte & Touche. They’ve been studying GMs figures. The numbers make them wonder whether the automaker can continue as a “going concern.” Here at The Daily Reckoning, we’ve got substantial doubt about a number of things.
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news.goldseek.com >> 5 March 2009 |
China: The Hope of the World Economy?
By: Bill Bonner, The Daily Reckoning
Sweden to GM/Saab: Drop Dead! Finally, a nation with a little backbone…a little integrity…a little good sense. And guess what, it’s that dreary socialist refrigerator – Sweden. Asked to bailout its GM-owned automaker, Saab, the country’s Prime Minister just said ‘no.’ Good for him…
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news.goldseek.com >> 4 March 2009 |
The Downfall of the American Consumer
By: Bill Bonner, The Daily Reckoning
Angela Merkel to Eastern Europe: Drop Dead! You remember that famous cover story of the New York Daily News? New York was nearly bankrupt in 1975. The city asked the feds for a bailout. To his everlasting credit, Gerald Ford had the backbone to just say ‘no.’
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news.goldseek.com >> 3 March 2009 |
A Depression - With a Capital ‘D’
By: Bill Bonner, The Daily Reckoning
We’re glad we hoisted our Crash Alert flag when we did. Yesterday, markets all over the world plunged to new lows…with the Dow closing below 7,000 for the first time since 1997. At 6,763…it has only a couple of thousand points left to go. Then, we can begin looking for the bottom.
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news.goldseek.com >> 2 March 2009 |
Federal Firefighters to the Rescue!
By: Bill Bonner, The Daily Reckoning
Investors are “bloodied and confused,” says Warren Buffett, “much as though they were small birds that had strayed into a badminton game…” By the end of 2008, $30-$40 trillion had been lost, in stocks, housing and derivatives. Investors breathed a sigh of relief when December 31 finally came. But then came 2009! World markets have fallen 18% so far this year…2009 is on track to lose far more than even 2008, which was the worst year in stock market history.
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news.goldseek.com >> 27 February 2009 |
Hoorah for Capitalism!
By: Bill Bonner, The Daily Reckoning
The western, capitalist economies are in the midst of their own perestroika. They are being restructured. But not by the world-improvers. Instead, they are being restructured by capitalism itself… Leave capitalism alone and it will do the job far faster and far better than the meddlers could ever do.
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news.goldseek.com >> 26 February 2009 |
Gold: The Barbarous Relic You Can Trust
By: Bill Bonner & The Daily Reckoning Crew
Oh…we are such optimists! So far, the Crash of ’09 has paralleled the Crash of ’29…and the Crash of 1873. All three began in early September. All three saw the big selling in late October. Both in the case of ’29 and ’09 a near-term bottom was hit in mid-November.
Nothing Shines Like Gold
By: Byron W. King, The Daily Reckoning
What’s going on? It’s a worldwide trend. Investors have been flocking to gold and silver. There’s a money migration going on. And I mean BIG money is migrating. It’s like those herds of zebras or wildebeests or gazelles in Africa. When they migrate, the earth shakes and the ground is just a moving kaleidoscope of hides and footprints. The dust clouds blow high into the sky.
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news.goldseek.com >> 25 February 2009 |
Give Liquidation a Chance!
By: Bill Bonner, The Daily Reckoning
A plea to lawmakers…give liquidation a chance! U.S. stockowners got a break yesterday…the Dow rose 236 points. News reports tell us that investors were listening to Ben Bernanke. He’s speaking to Congress…intending to boost investor confidence. But we can’t find anything in Bernanke’s remarks that would give us much confidence.
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news.goldseek.com >> 24 February 2009 |
A Broken Down Stock Market
By: Bill Bonner, The Daily Reckoning
Stocks fell 250 points, on the Dow, yesterday. Only 2,100 more to go. The Dow ended yesterday’s trading at 7,114. Before this correction is over, it will trade below 5,000. That has been our prediction for the last 10 years. Maybe we were a little early. But we’re sticking with it.
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news.goldseek.com >> 23 February 2009 |
A Pile-Up on the World’s Financial Highway
By: Bill Bonner, The Daily Reckoning
The terrible pile-up on the world’s financial highway has left us all in shock. We check to see if our fingers move. We look in the rear-view mirror to see if there is blood on our face. And then we crawl out of the car. Thank God, we can still walk! No broken bones.
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news.goldseek.com >> 20 February 2009 |
Where is the Committee to Save the World?
By: Bill Bonner, The Daily Reckoning
And today…gold futures hit the $1000 mark for the first time in almost a year, as investors rushed to the precious metal as a safe haven. This isn’t the first time investors have turned to gold in times of economic woes, and it won’t be the last. If you haven’t added some gold to your portfolio, there has never been a better time.
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news.goldseek.com >> 19 February 2009 |
The United States: The Largest Ponzi Scheme in the World
By: Bill Bonner, The Daily Reckoning
“Greenspan backs nationalization,” says a headline. Well, that does it for us here at The Daily Reckoning. If Greenspan is in favor of it, we’re against it. No one man bears more responsibility for the present worldwide financial crisis and coming depression than Alan Greenspan.
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news.goldseek.com >> 18 February 2009 |
Obama’s Bailout: Too Little, Too Late?
By: Bill Bonner, The Daily Reckoning
Typically, depressions come with bear markets. And bear markets come with bounces and rallies. We expected an O! Bama! bounce after the election. We got one…but much less than we expected. Stocks only rallied about 15%. A stronger bounce will come, sooner or later. But we’ve put up our Crash Alert flag again – just in case. Stocks could go down another 30% – 50% first.
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news.goldseek.com >> 17 February 2009 |
Living in the Post-Bubble World
By: Bill Bonner, The Daily Reckoning
We are in a period of price discovery. Many shares, businesses, and credits are on offer. Typically, people are reluctant to make bids until they have a clearer idea of what these things are worth. What are they worth now that we’re in a post-Bubble world? No one knows. And no one seems in a hurry to find out.
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news.goldseek.com >> 16 February 2009 |
A Doozy of a Depression
By: Bill Bonner, The Daily Reckoning
Remember our dictum: the force of a correction is equal and opposite to the deception that preceded it. As we looked out over the absurd hallucinations, delusions and lies of the Bubble Years – oh, those happy days! – we warned that the coming correction “would be a doozy.”
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news.goldseek.com >> 13 February 2009 |
Bankers Pull Another Fast One
By: Bill Bonner, The Daily Reckoning
Everybody wants to kick the bankers when they are on the ground. Heck, we’d do it too…but the crowd around them is so thick; we can’t get a boot in edgewise. Besides, there are bigger charlatans still standing. After all, bankers were just doing their jobs - separating fools from their money. What about those who were supposed to be protecting the fools?
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news.goldseek.com >> 12 February 2009 |
The Economic Panic of 2009
By: Bill Bonner, The Daily Reckoning
Poor Barack. His whole presidency rests on getting this bailout thing right. If he does, he’ll be a hero. If he doesn’t, the economy will go into a Japan-like slump and he’ll spend his entire time in office dealing with people looking for handouts – zombie banks, comatose corporations, and desperate households.
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news.goldseek.com >> 11 February 2009 |
Depression II: The Horror
By: Bill Bonner & The Daily Reckoning Crew
DEPRESSION II …The Horror…coming soon to theatres near you! “It’s gone deep. It’s gotten worse,” said the president. We’ve seen so many shock and horror movies over the years. We recognize the dialog. But this is no Hollywood thriller. This is real life.
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news.goldseek.com >> 10 February 2009 |
The Geithner Plan Day
By: Chuck Butler, Daily Reckoning
Good day… And a Terrific Tuesday to you! The President talked to us last night regarding the “new and improved” stimulus package. He sounded a bit defensive, don’t you think? But, I will say this; he did try to stay on the high road when defending the package. He really ripped people like me – who oppose the package, and see it as spending only. But I think he forgot to mention that people like me, oppose it because we can’t afford it! But the President firmly believes our economy could completely collapse without this, so I can see where he feels the urgency to get this bill signed.
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news.goldseek.com >> 6 February 2009 |
Here Come the Zeros
By: Bill Bonner & The Daily Reckoning Crew
Zero is a perfidious number. Nobody likes it. Nobody wants to be “a zero.” Nobody wants to get a zero on a test…or zero returns on his investments. It is a line that leads nowhere…with no substance in the middle of it. You can add a zero…or multiply by zeros; it gets you nowhere. And is a zero? Is it something? Or nothing? No one knows.
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news.goldseek.com >> 5 February 2009 |
It’s a Depression, Not a Recession
By: Bill Bonner & The Daily Reckoning Crew
Today, dear reader, we’re going to let you in on a big secret. Pssst…we’re in a depression, not a recession. As we explained yesterday, economists have no sure way of separating the two. But they are profoundly different. In the few words that follow, we’ll explain why…and why this one deserves the “D” and not the “R.”
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news.goldseek.com >> 4 February 2009 |
Wall Street Bankers: The World’s Most Privileged Outcasts
By: Bill Bonner & The Daily Reckoning Crew
Paris, France Today we turn our attention to the world’s most privileged outcasts. “Once envied, Wall Street bankers are now mocked,” says a headline at the International Herald Tribune. So many people are getting on the bankers’ case; we’re beginning to feel sorry for them. After all, what did they do wrong?
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news.goldseek.com >> 3 February 2009 |
In Gono We Trust: U.S. Inflation on its Zimbabwe Up
By: Bill Bonner & The Daily Reckoning Crew
We have it from our usually unreliable source in Washington that Gideon Gono, now head of the Zimbabwean central bank, has been called in to aid the Obama Administration. In secret talks, Gono has agreed to replace the out-going Ben Bernanke, who is said to be going to work as a helicopter pilot. Gono will take over the Fed. And a new bill has already been designed – our source was able to sneak out a copy of the new note – for 1 million U.S. dollars. That’s Gideon Gono’s picture on it.
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news.goldseek.com >> 2 February 2009 |
The Depression of 2008 - ?
By: Bill Bonner & The Daily Reckoning Crew
On Friday, the Dow lost 148 points. But gold gained $20. The ratio of gold to the Dow tells us that either stocks have much further to fall…or gold has much further to increase. We’re looking for a ratio of one to one. At its peak in 2000, you needed 43 ounces of gold to buy the Dow stocks. Now you need only about 10. Still a way to go. Most likely, the Dow will fall …and meet the price of gold on the way up…at about 3,000.
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news.goldseek.com >> 30 January 2009 |
Wall Street Gets the Boot
By: Bill Bonner & The Daily Reckoning Crew
London, England There is no idea so absurd that the majority of people won’t come to believe it …when it suits them. We saw yesterday that the chattering classes are moving towards inflation. Rising prices are no longer seen as evil; they are good.
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news.goldseek.com >> 29 January 2009 |
Dr. Gono or: How I Learned to Stop Worrying and Love Inflation
By: Bill Bonner & The Daily Reckoning Crew
London, England It’s coming dear reader. No doubt about it. The only questions are: When? How much? We’re talking about inflation. First a word of caution. Everything that MUST happen DOES happen. But it doesn’t always happen when and how you think it should.
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news.goldseek.com >> 28 January 2009 |
A Country of Madoffs
By: Bill Bonner & The Daily Reckoning Crew
Yesterday, the Dow rose 58 points. Oil held at $41. The euro at $1.31. And gold fell below $900. The yellow metal still looks good. It is at an all-time high in terms of the euro and the pound. But it still has a long way to go.
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news.goldseek.com >> 27 January 2009 |
Hangover Nation
By: Bill Bonner & The Daily Reckoning Crew
Yesterday, the Dow fell 38 points. But the real action is in the gold market – the price rose to $908 per ounce. Even the gold miners are finally going up. What does it mean? Is inflation closer than we thought?
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news.goldseek.com >> 26 January 2009 |
Return to Magic Mountain
By: Bill Bonner & The Daily Reckoning Crew
-Politicians take the spotlight…the auto parts sector needs a bailout too…
-Leverage is a two-way street…will Obama's plan get the economy going again?
-No magic will make this mountain of debt disappear…gold got a boost on Friday…a memo to Microsoft employees…and more!
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news.goldseek.com >> 23 January 2009 |
Super Baaadddd
By: Bill Bonner & The Daily Reckoning Crew
-Wages of sin…Mommas should now be urging their babies to go into other lines of work - politics, maybe…
-Everyone wants to offload the risks of the financial sector onto the taxpayer…practically the first thing we hear from the Obama administration is worrying…
-Property development in Europe is a disaster…the best of the web…and more!
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news.goldseek.com >> 22 January 2009 |
From Bubble Watch to Bust Watch
By: Bill Bonner & The Daily Reckoning Crew
-Obama - not much different that Reagan, Clinton or the Bushes…American finance: strange and preposterous, but never dull…
-A division of delusion, which led to huge bubbles…who will suffer most when the bus comes?
-One thing that Team Obama will fight to the death…countries around the world play "hot potato" with correction…and more!
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news.goldseek.com >> 21 January 2009 |
Wall Street Snubs Obama
By: Bill Bonner & The Daily Reckoning Crew
-We want Obama to succeed, but we weren't born yesterday…the worst sell-off in Inauguration Day history…
-What if the bankers got what they deserved?…Treasury gets the go-ahead to 'print money'…
-GM to run out of money in March…a blunt letter from the President of Knox Machinery…and more!
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news.goldseek.com >> 20 January 2009 |
Ask Not What Your Banks Can Do For You…
By: Bill Bonner & The Daily Reckoning Crew
-Obama…the world turns its weary eyes to you…Britain had its worst day in years yesterday…
-Blue Monday…BOE gets closer to 'printing money'…what will Obama do with all of this 'political capital'?
-Zimbabwe introduced a new note…inflation could return sooner than you think…and more!
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news.goldseek.com >> 19 January 2009 |
A Nation of Patsies…in a World of Hurt
By: Bill Bonner & The Daily Reckoning Crew
-Yes, he can!…or so he thinks…politics is a dirty job, but someone's got to do it…
-We don't often have the chance to stand up for Dubya, but give the guy a break…he doesn't understand the economy enough to be held responsible for the financial collapse…
-Bankers lend money when they think they can make money at it…Friedman offers Obama some advice…and more!
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news.goldseek.com >> 16 January 2009 |
The Lint Age
By: Bill Bonner & The Daily Reckoning Crew
-Christmas may be over, but Obama is keeping the 'season of giving' going on the Hill…the next bubble will be in public debt…
-Stock prices are more 'normal' than they were a year ago…how many chickens can get in a plane engine?
-What is bad for GM is bad for America…just when you think you have things figured out, the facts change…and more!
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news.goldseek.com >> 15 January 2009 |
The Fed Fights Fire With Fire
By: Bill Bonner & The Daily Reckoning Crew
-A look at Bernanke-ese…still no sign of the long-awaited Obama-bounce…
-Banks need even more bailout money…the world economy is entering a 'lost decade' of recession, deflation and bear market…
-A temporary stock boomlet…who knows the code words for 'fire up the printing presses'?…and more!
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news.goldseek.com >> 14 January 2009 |
The Baddest Bank in the West
By: Bill Bonner & The Daily Reckoning Crew
-The world economy is dangerously ill - we must try some experimental drugs…Bernanke wants to create a "bad bank"…
-America needs Bernie Madoff…Social Security: the ultimate Ponzi scheme?
-The Indian Enron…how can the U.S. pay back money it has borrowed?…and more!
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news.goldseek.com >> 13 January 2009 |
The End of Trade's Golden Age
By: Bill Bonner & The Daily Reckoning Crew
-Put Bernie Madoff on the public payroll…we offer the Feds some advice - whether they want it or not…
-The link between violence and poverty is becoming more apparent…world trade is shrinking…
-The 3D's of the economic situation…the cure for a slump is a slump…and more!
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news.goldseek.com >> 12 January 2009 |
The World Economy Calls in Sick
By: Bill Bonner & The Daily Reckoning Crew
-The economy is in the worst shape since WWII…you can't cure a bubble in five or six months - try five or six years…
-Losing the world's consumers…the Fed's new super drug: "quantitative easing"…
-Things went downhill quickly in Ireland…the Bonner family is getting into the spirit of the Worldwide Financial Meltdown…and more!
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news.goldseek.com >> 9 January 2009 |
Said the Joker to the Thief
By: Bill Bonner & The Daily Reckoning Crew
-A real boom lasts longer than most marriages…you make money by taking from the fool who gives it to you…
-Our forecast for the year ahead, as promised…bounce or no bounce, stock prices are going to go a lot higher…
-People come to think what they must think when have to think it…the ECB to take a page out of the Fed's playbook…watch I.O.U.S.A. on CNN this weekend…and more!
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news.goldseek.com >> 8 January 2009 |
Global Financial Illness
By: Bill Bonner & The Daily Reckoning Crew
-The world markets have begun a correction - and the governments are determined to stop it…the days of 'stuff lust' are long gone…
-Replacing private spending with public spending…in the fight against global financial illness the Fed can't cure the patient…
-The U.S. empire may be too old and tired to battle this downturn…the 50th anniversary of Cuba's revolution…tune into the Critic's Choice Awards on VH1 tonight and cheer for I.O.U.S.A.!…and more!
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news.goldseek.com >> 7 January 2009 |
It's the Economy, Stupid
By: Bill Bonner & The Daily Reckoning Crew
-The economic news continues to bring bad tidings…consumer bankruptcies were up 33% in 2008…
-The financial crash is causing an economic crash, which will cause a worse financial crash…and around and around we go…
-Who will spend their savings in '09?…the CBO puts the budget deficit at $1.2 trillion for this year - and that's not counting stimulus programs…and more!
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news.goldseek.com >> 6 January 2009 |
Bet Against a False Premise…Buy Gold
By: Bill Bonner & The Daily Reckoning Crew
-A look at the economic goings-on that take place on this, the third rock from the Sun…
-The Dow is up again - could this be the beginning of a major rally?…pinning hopes on a stimulus package…much talk of cutting taxes, but not of cutting spending…
-Find a premise that is wrong, and bet against it…for gold bugs, it's now or never…and more!
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news.goldseek.com >> 5 January 2009 |
An American Recovery: How High Will this Dead Cat Bounce?
By: Bill Bonner & The Daily Reckoning Crew
-A year without question marks…stocks have been up for the last three trading sessions - even dead cats bounce…
-The U.S. is facing a political problem, not an economic one…Obama's American Recovery and Reinvestment Plan…but what is there to reinvest?
-The price of gold is going up - and people are finally catching on…will Mr. Market pull another fast one?…economics is not improv theater…and more!
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news.goldseek.com >> 2 January 2009 |
Pigs Get Slaughtered
By: Bill Bonner & The Daily Reckoning Crew
-U.S. government takes over the economy…always look on the bright side of life…
-A few predictions for the New Year…a slew of people get to see their dreams realized - in the United States…
-The government to determine who shall eat…and more!
2008: A Year in Review, Part II
By: Bill Bonner & The Daily Reckoning Crew
-Well, we're glad to put that year behind us…a close call with a moat…a rare, but typical meltdown…
-Bernanke won't stand for deflation…thank God for gold…our first resolution for the year: stick to the basics…
-Our Trade of Decade still stands strong…your last chance to join the Agora Financial Reserve…and more!
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news.goldseek.com >> 31 December 2008 |
2008: A Year in Review, Part I
By: Bill Bonner & The Daily Reckoning Crew
-Here we are…The last day of the worst year in stock market history….being wrong in economics is just a matter of opinion…
-Economies are not machines…consumer confidence hits an all-time low…
-The final stage of the financial crisis is likely to resemble Zimbabwe…a look back at the year behind us…and more!
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news.goldseek.com >> 30 December 2008 |
The Breakdown of the World Money Machine
By: Bill Bonner & The Daily Reckoning Crew
-A bad year…and 2009 doesn't look much better…the worldwide financial crunch is affecting everyone…
-2008 will go down as the worst year for investors of all time…who needs Smoot or Hawley?
-Friedman has let us down…Keynesianism causes more problems than it solves…and more!
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news.goldseek.com >> 29 December 2008 |
Worse than '29
By: Bill Bonner & The Daily Reckoning Crew
-2008 is coming to a close…and investors are looking at a loss of over 40%…
-After a great bubble of consumer debt comes the crushing burden of having to pay it back…even churches are getting their steeples knocked off…
-The real damage - and the real pain - is still to come…spending without a safety net…and more!
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news.goldseek.com >> 24 December 2008 |
Faith in Humbug
By: The Daily Reckoning Crew
-Just looking at the facts today…how can so many people have so much faith in humbug?
-Don't believe in the bailouts…you can't increase consumption while discouraging savings and expect the economy to survive…
-Wishing you and yours a very happy holiday!
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news.goldseek.com >> 23 December 2008 |
Paper Money's Heyday
By: Bill Bonner & The Daily Reckoning Crew
-The whole auto industry has hit a telephone pole…want money? Just ask the hacks in D.C….
-The situation we are facing now is why paper money was invented…Dubya says we must kill capitalism - in order to save it….
-Laissez-faire, we hardly knew ye…end the financial crisis with a money crisis…vote for I.O.U.S.A….and more!
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news.goldseek.com >> 22 December 2008 |
Americans Turn to 'Plan B'
By: Bill Bonner & The Daily Reckoning Crew
-The most foreboding Christmas season in history…every day brings more cutbacks, more bankruptcies and more trouble…
-Borrowers have counted on home equity money to fill in the gaps in their household budgets…using borrowing in place of saving…
-Americans are really beginning to resent Wall Street…consumer prices are sure to fail in the near future…and more!
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news.goldseek.com >> 19 December 2008 |
The Bright Side of Catastrophe
By: Bill Bonner & The Daily Reckoning Crew
-The Dow gives up the post-ZIRP gains…California Babylon seems to be getting a Biblical judgment…
-It's the Revenge of the Dustbowl…gold is the only thing that resisted the bear market…
-Obama's new stimulus package…deleveraging will give us a bout of '30s-style deflation…and more!
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news.goldseek.com >> 18 December 2008 |
The Problem With Leverage
By: Bill Bonner & The Daily Reckoning Crew
-Everyone is howling for Bernie Madoff's head…but we think he just showed how the system actually operates…the markets connect the dots…
-Leverage works both coming and going…the real action is happening in the currency markets - and we know of a winning strategy…
-Bernanke is gonna go Gono…no one is as easy to scam as the scammers…wasn't the bubble nothing more than a giant pyramid scheme?…and more!
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news.goldseek.com >> 17 December 2008 |
We Are All Japanese Now
By: Bill Bonner & The Daily Reckoning Crew
-The Fed goes for broke - and the rest of the country follows…there are really only two ways out of this mess…
-Instead of inflation, we're getting deflation…Gideon Gono can show the Fed how to use these 'new tools'…
-Some sage advice for Obama…the SEC does not fight fraud, it aids and abets it…and more!
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news.goldseek.com >> 16 December 2008 |
Will the Fed Make History?
By: Bill Bonner & The Daily Reckoning Crew
-Houses lost more than $2 trillion in value in 2008…the Fed will cut rates today - but by how much?
-The Trade of the Decade is in profit at both ends…Santa came early this year: gold is in the positive territory…
-An economy is a living thing…Newsweek wants to help Obama fix the world…and more!