Global Market Commentary, Analysis and Investments
Want to know what is really going on?
Investors are waking up. They are wiping the sleep from their eyes. Behold! No recovery.
Analysts and the commentariat are struggling to make sense of it. With record low mortgage rates, and after eight programs designed to boost up housing, for example, sales are still plummeting. July saw the biggest monthly drop in existing house sales since the Johnson Administration.
[Read more...]Stocks are in the dumps today. As we write, the major US indexes have all but erased the hard-fought/delusional gains of the previous two sessions. The Dow, S&P 500 and the NASDAQ are all nursing losses of around 2%.
The panicky mood on Wall Street comes thanks to a “trifecta of bad reports,� as one news site put it.
[Read more...]Another week gone by. Nothing has been learned. Nothing has been proven. Nothing has been decided.
In the markets, we mean. It looks like the stock market is finally rolling over. After a big drop on Wednesday, the Dow followed up with a modest drop yesterday – down another 58 points.
[Read more...]Naturally, I started having pleasant daydreams about being rich, rich, rich after the Chinese government surprised me by announcing that it would finance the buying of foreign gold mines, and ordered their banks to set up big distributed systems for buying and selling gold at the retail and whole levels and all kinds of stuff like that. Wow!
[Read more...]The Daily Bell recently caught up with Bill Bonner while at the Agora Financial Investment Symposium in Vancouver, BC. Their exclusive interview with the Daily Reckoning founder can be found below…
[Read more...]Yesterday’s markets barely moved in any significant direction, so we will ignore them and go on to today. It’s a big day for the men who rule us. The Fed’s Open Market Committee meets to decide what to do.
On the table are a number of small steps…and one big one.
[Read more...]The keen-eyed David Galland, Managing Director of Casey Research and regular contributor to The Daily Reckoning, notices something amiss.
[Read more...]The weekly jobs numbers released yesterday morning showed 25K more people signed up for unemployment last week than the week prior. The number of continuing claims declined slightly, but remains above 4.5 million. The data confirms what everyone outside of CNBC has been saying for quite a while; this is a ‘jobless recovery’ (if you can even call it a recovery!) What growth we have had has been spurred by government spending, the private sector just isn’t expanding, and won’t probably expand for some time.
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The Invaluable Work of Economic Scientists
Wolf, Stiglitz, Krugman – we love these guys!
They pushed the world’s governments to undertake huge “stimulus� programs. Of course, the stimulus programs didn’t work. They couldn’t work. All they could do was to disguise the facts and delay the necessary adjustments.
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