Investment Legends, Part I

What will happen to the US economy and the dollar in the near term? Will inflation increase dramatically? What is the outlook for gold, and where should you put your money? BIG GOLD asked a world-class panel of economists, authors, and investment advisors what they expect for the future. Caution: strong opinions ahead…

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Dice Have No Memory: An Introduction

It was 10 years ago, or a bit more, that I began writing the Internet series called The Daily Reckoning. The collection of essays and short notes you have in your hands developed over the course of the years that followed.

When I began, I was ahead of the innovation curve. I was blogging before blogs had been invented. Day after day, I watched what happened in the world of finance, economics, and politics. And day after day, I found myself entertained. I merely described what I saw happening.

[Read more...]

Dice Have No Memory: An Introduction

It was 10 years ago, or a bit more, that I began writing the Internet series called The Daily Reckoning. The collection of essays and short notes you have in your hands developed over the course of the years that followed.

When I began, I was ahead of the innovation curve. I was blogging before blogs had been invented. Day after day, I watched what happened in the world of finance, economics, and politics. And day after day, I found myself entertained. I merely described what I saw happening.

[Read more...]

The Stock Market Has Hit Its Low!…Sort of

Global stock markets are in a multi-year bull-market and nominal prices are likely to appreciate for several more months. In our view, we are currently amidst a normal multi-week consolidation phase and most stock markets are likely to stage a sharp year-end advance.

Look. We know that the developed economies are in trouble and they are unlikely to improve anytime soon. For instance, unemployment remains stubbornly high, deficits are spiraling out of control and debt levels are unprecedented. At first glance, things do look dire but we still believe that nominal stock prices will continue to rise.

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Consumer Confidence Declines in the Give and Take Markets

The market giveth and the market taketh away.

Last Friday, the Dow Jones industrial Average gaveth 165 points. Yesterday, the Dow tooketh 141 points away. What should we investors learneth from this occurrence?

Should we trust that the economy is recovering, as the politicians pretend to believe? Or should we distrust that the economy is recovering, as most of the rest of us believe?

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US Economic Outlook: Bad and Getting Worse

It was raining outside, and so I was stuck inside the house, listening to my family remind me that I was just a worthless, penny-pinching, hateful old man who loves gold, silver and oil more than I love them, which I hasten to add is not exactly true in all respects, but you gotta admit that gold, silver and oil will treat me very nicely as they soar in price along with inflation in prices because of the insane levels of money creation by the Federal Reserve so that the loathsome Obama administration can deficit-spend us into hyperinflation, whereas spouses and children will be just a heavy millstone around my poor, aching neck, dragging me down, down, down by forcing me to spend money on them for their food and medical care and all the rest of that expensive crap.

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