With all the talk about the Great Depression over the course of the last five years, I thought it would be worthwhile to get an opinion on what caused the first one.
[Read more...]Echoes From The Great Depression: Occupiers From Another Age
December 14, 2011 By Leave a Comment
With all the talk about the Great Depression over the course of the last five years, I thought it would be worthwhile to get an opinion on what caused the first one.
[Read more...]Permanently High Unemployment
October 11, 2011 By Leave a Comment
Little by little, one step at a time, the mainstream press is beginning to understand. There was no ordinary recession. There will be no ordinary recovery. And something is very wrong.
A Great Depression? We should be so lucky, writes David Leonhardt in The New York Times:
UNDERNEATH the misery of the Great Depression, the United States economy was quietly making enormous strides during the 1930s. Television and nylon stockings were invented. Refrigerators and washing machines turned into mass-market products. Railroads became faster and roads smoother and wider. As the economic historian Alexander J. Field has said, the 1930s constituted “the most technologically progressive decade of the century.”
[Read more...]As the World Economy Turns
September 19, 2011 By Leave a Comment
What keeps this world economy turning around?
Not the US. America’s private sector isn’t spinning at all. It’s stuck…dead in the water…out of gas…pumped out…
GDP growth is reported at 1%. But that’s almost all government transfer payments and stimulus deficits. Real growth is negative.
[Read more...]The Chairman of the Federal Reserve is Clueless
August 10, 2011 By Leave a Comment
When it came to financial failure, there was no one in Washington – or on earth – who had masterminded more disastrous policies or produced more erroneous forecasts than Federal Reserve Chairman Ben Bernanke. Had he been an imperial soothsayer in a medieval court he would have lost his head or, at best, he’d be rotting in a dungeon.
[Read more...]A Birthday for the Bull Market
March 9, 2011 By Leave a Comment
Welcome to today’s very special “Birthday Party Edition” of The Daily Reckoning! Our little bull market is two years old today… They grow up so fast! To begin the festivities, please put on your party hats and click on the following link:
[Read more...]A Few Reasons Why This Depression Will Be Even Greater
July 22, 2010 By Leave a Comment
“This is the Greater Depression…and it's going to be worse…far worse…than the Depression of the '30s,? said Doug Casey.
“We're just in the eye of the hurricane now. It seems calm. But the other side of the storm is going to hit soon. And it's going to be much worse…?
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The Great Crash and Beyond
The worst quarter for stocks since the first quarter of 2009 sent me back to the dusty archives of finance. Amid old tomes, I searched for what I might learn from the dark markets of years past.
I found a collection of articles called The Great Crash and Beyond. They date from 1979, put together on the 50th anniversary of the crash of 1929. Only a handful of years before, the market fell by half (1973-74). Inside, I find writers reflecting on the mosaic of Wall Street history and the continuity of markets across the time.
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