Global Market Commentary, Analysis and Investments
It's summertime…and the livin' is still easy here in France.
But the children are all gone. The house is quiet. Our office – usually a hive of activity when the children and their friends are here, checking email…searching for cheap tickets…or just hanging out – is as dead as a tomb. The only sign of life is the clicking of computer keys as your editor prepares his Daily Reckoning.
[Read more...]An Interview with Doug Casey from Cafayate, Argentina
[To read Part I of this interview, click here]
Interviewer: Concerning the risk of foreign exchange controls here in the US, do you think people will have any warning at all?
[Read more...]Interviewer: Doug, we recently talked about getting assets out of your home country, especially the US, where to take them and what to do with them. In so doing, you touched on the inevitability of currency controls just ahead, especially for Americans. Can you tell us more about that?
[Read more...]I don’t think the US economy is in good shape.
I am most discouraged when I consider the bloated and out-of-control federal and state governments. They spend too much. They are in too much debt. They are far too powerful. And I think it is fair to say that current administration is hostile to business. I think the US dollar is a sick currency.
[Read more...]We told you it’d be a bumpy ride.
Stocks managed to recoup losses from the previous two sessions yesterday. The Dow ended higher by more than 200 points. Similar gains were registered in the broader markets and over in Europe and Asia, too.
Taken alone, yesterday’s action might look like quite a confident move by Mr. Market, as if he were strutting around in a brand new suit. We even heard one commentator enthusiastically refer to it as “decisive.” The fellow looked excited enough. He even seemed to believe what he was saying. It didn’t feel decisive to us, though. Unless by “decisive” the gentleman meant “changes mind daily.” Maybe “capricious” would be a better word…or “bi-polar”…or, better still, “indecisive.”
[Read more...]Prudence can seem very imprudent in a runaway bull market. In fact, it can seem downright stupid.
Jean-Marie Eveillard’s career provides a delightful insight into this irony – both the downside of exercising prudence when share prices are soaring; and the satisfaction of exercising prudence long enough to prove its value. Eveillard knows this reality firsthand.
[Read more...]The Dow lost another 139 points on Friday. Now the stock market is in a downtrend. Is it THE downtrend? Or just another random move, of no particular importance?
Hard to say.
We began questioning our faith last week. Why do we think there’s a bear market in stocks? Why do we think stocks will go below 5,000 on the Dow? For a minute, we couldn’t remember.
[Read more...]I was sitting there, cool and comfy, wearing my new Mogambo Crisis Outfit (MCO), consisting of a pair of snazzy red cowboy boots, a combat helmet, a bullet-proof vest and a ballerina tutu (which, as an aside, does a lousy job of concealing a pistol in a shoulder holster), each piece of my dazzling and daring fashion ensemble carefully chosen for either maximum protection or maximum confusion to the enemy, which, at last count, is apparently everybody.
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Stock Market Rally Running Out of Steam
It's always a little tricky to know exactly what an economic recovery looks like. But it's usually pretty easy to know what it doesn't look like…and it doesn't look anything like the chart below:
[Read more...]