Global Market Commentary, Analysis and Investments
More Disasters, Please!
Whoa. Tuesday’s gains had disappeared before traders’ coffee had gone cold, yesterday morning. The Dow ended the day down 173 points…signaling what looks like a 7th straight week of losses. Stay tuned.
Oil ended the down at $95. The dollar went up.
[Read more...]Well… I turned on the currency screens this morning to see if what I was watching last night had followed through, and it had! I’m talking about a currency rally that began late yesterday afternoon, carried through to this morning, and that makes sense, given the poor shape of the US economy once again… Oh! You didn’t hear? Well, since the revision of first quarter GDP was supposed to show a nice increase that I said I didn’t believe, and then didn’t, I’m sure your fave cable news station conveniently forgot to mention it!
[Read more...]A question for you, Fellow Reckoner: Why do people so frequently demand more of the same poison to cure what ails them? Is it because they are stupid? Are they too busy with their workaday lives to notice the difference? Or are they being persistently lied to and indoctrinated?
Most likely, it’s a mixture of all three. Today, we address the third point.
[Read more...]“The US is really in the worst condition of any major economy or country in the world,” says ShadowStats Editor John Williams. In the following interview with The Gold Report, John concludes the nation is in the midst of a multiple-dip recession and headed for hyperinflation.
The Gold Report: Standard & Poor’s (S&P) has given a warning to the US government that it may downgrade its rating by 2013 if nothing is done to address the debt and deficit. What’s the real impact of this announcement?
[Read more...]QE2 is ending in June. But globally, QE3 has already begun. As usual, Japan is the pacesetter. As temperatures rose at its Fukushima reactor so did Japan’s monetary base – at the rate of 100% per week! What happens to all this new, hot money? No one knows, exactly. But today, at The Daily Reckoning, we have advice for everyone – central planners, politicians, and householders, too: if you have money, pretend you robbed a bank.
[Read more...]What were they doing down by the pond?
The Dow was flat yesterday. Gold rose $9 to $1,226.
Has the dip in gold already come and gone?
We were expecting lower stock prices…and lower gold prices too. Both went down earlier in the summer. But neither went down as much as we expected…nor stayed down.
[Read more...]The pills that I thought were tranquilizers turned out to be vitamins, and although I am on the verge of some kind of mental breakdown because of the mix-up, I feel great!
Turning to the old tried and true, I soon learned that I had started too late, and I was not nearly drunk enough to have properly anesthetized my nerves when I chanced to read Agora Financials 5- Minute Forecast report that The CBOs latest numbers reveal that President Obamas proposed fiscal 2011 budget would add $9.7 trillion to the national debt over the next 10 years.
[Read more...]How can you keep talking about a depression, asks a Dear Reader, when the economy is clearly recovering just as it should be.
Ah ha! Well explain in a minute.
First, the latest from Wall Street: The Dow fell 18 points yesterday. Were still not sure whether the final, fading phase of the bear market has begun or not. This bounce took the Dow back to 10,725 on January 19th. It hasnt seen that level since. Was that it? Was that as high as its going to get? Is it down from here on out…until the Dow finally bottoms out somewhere south of 5,000?
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Bubble to Bubble, Dust to Dust
So far, this century has been a delight. From tech bubble to tech bubble in scarcely 10 years.
On our recent trip to China, all of a sudden we felt 10 years younger. For in the coffee bars of China’s futuristic cities were entrepreneurs, dreamers and lunatics who still thought it was 1999. A group of young techies filled us in: “We don’t worry about profitability. We can worry about that later. We want traffic. Because we know we can monetize the traffic on the stock market.” Here were people who still believed they could take eyeballs to the bank.
[Read more...]