Global Market Commentary, Analysis and Investments
On Sunday, we celebrated America’s independence from Britain.
Having just come from London, it’s hard to see what the fuss was all about. The English seem like decent people. The queen still has her dignity. The British government seems no worse than its American counterpart. And David Cameron appears to have a much better idea of what he is doing than the Obama team.
[Read more...]We got a look at how the world really works last week. Bloomberg ratted out Sophia Constantinidou:
“The 52-year-old gets 400 euros ($496) a month from the Greek government, part of her late mother’s state pension. Under the current system, Constantinidou qualifies to receive the payment for life as the only surviving child of a deceased civil servant, provided she doesn’t tie the knot.�
[Read more...]Congress has hit on the perfect way to avoid the problem of a yawning deficit: Hand off the problem to a blue-ribbon panel.
“It isn’t possible to debate and pass a realistic, long-term budget,â€� says House Majority Leader Steny Hoyer, “until we’ve considered the bipartisan commission’s deficit-reduction plan, which is expected in December. I believe that Congress must take up and vote on that plan.” Conveniently, after the election.
[Read more...]“The great enemy of the truth,� John F. Kennedy declared in a 1962 commencement address at Yale University, “is very often not the lie – deliberate, contrived and dishonest – but the myth – persistent, persuasive and unrealistic.�
Fifty years later, a Yale education, itself, may be one small part of a vast American myth – the idea that America is forever and always the land of the free; the land of opportunity; the land of true capitalism. A degree from Yale, like so many other facets of the American economic myth, may possess more prestige than genuine economic value. But the declining value of a college education is a mere sub-plot to the de-mythologizing of American economic prowess.
[Read more...]Stocks rallied yesterday. The Dow rose 213 points. Gold went up too – plus $9. So many people are buying gold coins that the storage vaults are getting crowded, says a Bloomberg report.
But since we don’t trust the numbers anyway…let’s return to words.
[Read more...]I have discovered that I am never, ever too drunk not to be instantly angry at the mere mention of the neo-Keynesian halfwit morons who are, despite mountains of evidence proving its complete failure, still clinging to that same, silly meth-based economic theory which I originally meant to write as “same, silly math-based economic theory” but, due to a typo, came out as “same, silly meth-based economic theory.”
[Read more...]To show you how things get around, I get this from Ed Steer’s Gold & Silver Daily, which linked to an essay by Adrian Ash, at bullionvault.com, posted over at safehaven.com, and bearing the title “Gold Gets All Political.”
[Read more...]The Japanese have a new Prime Minister (Kan), and the currency markets don’t like it! The once so-called “safe haven” of yen (JPY), is getting sand kicked in its face, and rightly so, as the new PM has previously stated his goal of a weaker yen.
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On Deleveraging, the Collapse of the Dollar and Rise of a ‘Lost Decade’
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…
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