The lights of the Mogambo Security System (MSS) glowed dimly in the gloom of the bunker as I cowered in the darkness, and there were no sounds except the thumping, thumping, thumping of my terrified heart at The World Outside (TWO), a place I consider to be a vicious, hostile environment containing not only enemies of every sort, both real and imagined, but family members who want to know if I am coming out for dinner, or to tell me that someone is on the phone for me, or that somebody is going to greedily eat the last of my treasured Double-Stuf Oreos, somehow trying to get me outside and into their clutches so that they can take all my money and ask me to sign various forms and documents.
Voters Actually Concerned About US Federal Deficit
November 3, 2010 by Leave a Comment
We awaken to a bright new day, a spring in our step. For we stand at the dawn of a new era, in which fiscal responsibility is the primary objective of Congress again.
Oh, hell – we haven’t had enough coffee yet to keep up the pretense this morning. Last night on CNN, Wolf Blitzer tossed a softball question to Rep. Eric Cantor, the likely new House majority leader: Name one federal program Republicans will reduce.
[Read more...]US Debt on the Shoulders of 90 Million People
October 13, 2010 by Leave a Comment
Now that the federal government’s fiscal year ended on September 30 and they had to “square up� their accounting, we find some very interesting things, if you will forgive the use of the phrase “very interesting� when I should have used the more descriptive Poop In Your Pants Scary (PIYPS).
[Read more...]Buy the Emerging Markets, Part II
September 23, 2010 by Leave a Comment
What’s wrong with this picture?
This chart shows the comparative fiscal trends of the US and Brazil during the last decade. Back in 1999, the US was running a budget surplus and Brazil was running a deficit equal to about 9% of its GDP. Over the ensuing 11 years, those conditions flip-flopped. Brazil is now running a very slight deficit and the US is running a very large one.
[Read more...]Aussie Dollar Lead the Currency Rally Against the US Dollar
September 20, 2010 by Leave a Comment
The currencies are having some fun at the dollar’s expense this morning, and while I’ve always said that the euro (EUR) is the Big Dog, the star performer overnight was the Aussie dollar (AUD)! The Aussie dollar is at a two-year high versus the US dollar, and is beginning to look a bit pricy, compared to the rest of the currencies in the world. But, we’ve seen this in the Aussie dollar plenty of times in the past. The Aussie dollar trades way past “fair value� because of the strong interest rate it pays.
[Read more...]Chinese Data Lead Risk On Assault
September 13, 2010 by Leave a Comment
This past weekend, we observed the ninth year since the awful, cowardly acts on our nation. I was proud to see all the American flags flying on Saturday. I really don’t like talking about 9/11; it brings back all those sick feelings I had that day, and the days following… I will never forget…
[Read more...]On Deleveraging, the Collapse of the Dollar and Rise of a ‘Lost Decade’
August 10, 2010 by Leave a Comment
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...]Why Debt Does Matter
July 6, 2010 by Leave a Comment
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...]Phony Choices From a Bogus Profession
June 25, 2010 by Leave a Comment
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...]
Verbosity is the Soul of Financial Fury
I have to admit that I get awfully tired of people writing to me and asking, “Are you as stupid as you look and sound?� mostly because I have truthfully answered “Yes� to this question so, so many times that I thought it was, you know, common knowledge by this time.
I mean, people usually refer to me as “stupid� all the time, as in, “Shut up, stupid!� and, “Get out of my way, stupid!� which is not to mention all the times I overheard my wife telling one of the kids, “Tell your stupid father that dinner is ready.�
[Read more...]Click for detailed story