Ignorance is expensive
Baltimore — It is too late to debate. A debt-fueled crash is imminent.
I made a promise to my wife late last fall. Once the holidays were over and she was well on her way to recovery after a recent surgery, we would hit the local furniture stores and redecorate our living room.
Next time I make such a promise, I’ll research current furniture prices first. With four-digit price tags for a simple sofa, it is no wonder just about every furniture pusher is hocking no-payment, no-interest plans to unload their stock.
As a cash-only kind of guy, I didn’t fall for the gimmicks. But judging by the looks on the salesman’s face when I handed him a pile of crisp bills,…
The three best stocks of the past decade
Baltimore: If today’s action from the markets is any indication of what investors think about Uncle Sam and his Washington minions, the upcoming mid-term election is going to get interesting.
Nothing talks in Washington any louder than money. Today, the big spenders are betting against the land of the free and the home of the brave. But of course, if you’ve been paying attention, the action is no surprise.
If you invested in United States treasuries over the last year, you bought into the worst performing sovereign debt across the globe. Thanks to the Obama administration’s unending yearning to artificially pull the nation’s GDP into positive territory, investors are quickly raising their nose to the country’s ever-growing pile of debt.
In all of…
Japan: Going for Broke
Writing for The Daily Reckoning, Bill Bonner (co-author of The New Empire of Debt) highlights the path to national bankruptcy currently being trod by the Japanese government.
The growing economy – cash crops or weeds?
Adam Lass, Senior Editor of WaveStrength Options Weekly, turns his eye on the current economic ‘growth’ reports – including what may actually be growing in the U.S. economy.
Stimulus 2.0: Give a Penny, Take a Penny
Get ready for Stimulus Version 2.0. With unemployment in double-digit territory, credit still tight and consumers refusing to part with their cash, it’s obvious Washington’s first bailout did nothing but put the nation even further in debt and give China an even larger stake of the country’s financial future.
Watching the dollar: No more Chicken Little
Is the drop in the dollar worth watching? Just like the sun will eventually shine its last ray of light, the mighty dollar will someday buy its last barrel of oil or its final container of Chinese imports.
We all know it is going to happen, so why bother discussing it. Right?
When will the depression be over? When the work is done.
Bill Bonner, venerable voice of reason (with a touch of doom), at The Daily Recokoning, looks long term at gold, the markets, and the end of the depression.
Debt – the fall of the U.S. economic empire
The 19th century belonged to Britain, the 20th century belonged to America and in the 21st century, China will rule the business world. Whether you like it or not, this transition is already underway and it will intensify over the coming decades.
Will Bernanke Kill Santa Claus?
Baltimore (TFN): The Fed is meeting today. And I ask who cares? At this point, Bernanke and his troupe of politicians masquerading as economists are in so far over their heads, no matter what they do or say, you can bet the move is designed to protect their butts, not yours.
With the global economy taking off without us and foreign interest rates already on the rise, the Fed is desperate to look bullish while acting bearish.
Anybody that has ever tried to prove the existence of Santa Clause or the Tooth Fairy to a six year old knows what Bernanke is trying to do. At this point, he’ll do anything to change the subject and focus the attention on something…
Do we need a doggy tax break?
Animal care can be outrageously expensive. I’ve probably spent enough money on my cat’s ailing kidneys to buy a small car.Should the government be helping out? One Republican congressman thinks so, and has introduced a bill that allows pet owners to de…
Gold Touches a New Record
“Gold continues to climb…stoked by inflation worries,” says a headline in the International Herald Tribune.
Yesterday, it touched a new record – $1,050 – even as the dollar rose, oil slumped under $70 and stocks dipped very slightly.
Well, what do you expect? The United States added $1 trillion to its monetary base in the last year or so. The federal government is running a deficit of $1.7 trillion this year. And along comes Barack Obama with an idea to stimulate employment – spend more money! This time, Obama’s plan is a kind of ‘Cash for Workers’ program…in which businesses get a tax credit for hiring new employees.
Gold investors must think the new program will be the straw they’ve been waiting for. Government has…
The Post-Crash Party Continues
Gold took off yesterday…closing at $1020. Here at The Daily Reckoning, we’re impressed. But we’re not that impressed. Gold, of course, is half of our Trade of the Decade, which we announced almost 10 years ago. We’re bullish on the metal…have been for a very long time. But recent comments in this space have made readers wonder what the Hell is going on…so we will spend a few minutes clarifying.
First, we hope you bought gold many years ago. That would make it simpler. Then, we could say: hold! Gold is an antidote to paper. There is so much paper…and so much more apparently on the way…that the gold play seems like a winner. It’s a bet that the money system that…
Is China a $1 trillion green tech market?
A new report from the China Greentech Initiative, which is made up of several dozen alternative energy companies and government organizations, says that the potential for green technology sales in China is as much as $1 trillion.
PricewaterhouseCoopers…