 |
|
|
|
Bill Bonner
|
| For more insight and analysis, visit www.dailyreckoning.com
|
Articles by this Author
»
THE WEEKLY RECKONING
It is a new year … and a new world.
But the view of most analysts and forecasters is that both look surprisingly like the old world and the old year we just left.
|
»
THE WEEKLY RECKONING
|
Our advice at the beginning of last year was the same as the advice we gave the year before, and the year before that — buy gold.
|
»
THE WEEKLY RECKONING
|
Monday was a holiday in the United States. But here at the mobile headquarters of The Daily Reckoning, we reckon anyway.
|
»
THE WEEKLY RECKONING
|
Here at The Daily Reckoning headquarters we are carefree worrywarts. We buy gold and only worry for the fun of it.
|
»
THE WEEKLY RECKONING
|
Ben Bernanke was sworn in last week, but he wasn’t born yesterday. He knows how the central bank works. Or, at least he thinks he does. The secret, he believes, is in the plumbing. You have to keep the money flowing. And when things get a little sluggish, you have to open a few more valves and sluice gates.
|
»
THE WEEKLY RECKONING
|
The five “Big Es” are reshaping the world: The Empire is peaking out; there’s an Exodus of money and power from West to East; the Economic cycle has turned against us; the Experimental money system — with no gold backing — is doomed; and the days of cheap Energy are over. So what? What do you do?
|
»
THE WEEKLY RECKONING
|
The head of Canada’s central bank, David Dodge, says the world risks an “outright recession.” And, Claude Trichet, who is the president of the European Central bank, believes the world economy will have to “pay a price.”
|
»
THE WEEKLY RECKONING
|
Well, another week has passed away. What history was made?
|
»
THE WEEKLY RECKONING
|
You wouldn’t think so. Here, it is just another cold, dark day in London.
|
»
THE WEEKLY RECKONING
|
Today, we have some advice. It is no different from the advice we have given many times before, but today we give it with special urgency.
|
»
THE WEEKLY RECKONING
|
“You cannot step twice into the same river, for other waters are continually flowing in,” said Heraclitus, circa 500 BC.
|
»
THE WEEKLY RECKONING
|
Two Swiss economists took it upon themselves to study how professionals charge for their services. They were interested in how doctors and mechanics, for example, earned their money. These pros have a unique advantage over other service providers. Their clients think they need something from them but they don’t know what it is. Not surprisingly, a mechanic who specializes in exhaust systems will find they need a new muffler. A doctor who operates on the brain will tend to want to open up their crania. Not surprisingly, too, the better informed the client, the less the intervention. Doctors, for example, went under the knife less often than other patients. And lawyers’ wives had the fewest hysterectomies.
|
»
THE WEEKLY RECKONING
|
America is going broke ... in style. We say that not to alarm you. It’s just one of those certainties in life that you should point out to your children, such as “the dollar will be worthless” and “we’re all gonna die.”
|
»
THE WEEKLY RECKONING
|
From the Financial Times comes a report on the sorry state of U.S. federal finances — the “President’s Budget” shows a deficit of $319 billion for this fiscal year. But the president’s financial intelligence is subject to the same persuasion as his strategic intelligence. His budget shows not what is, but what he wished were
|
»
THE WEEKLY RECKONING
|
The globe is lop-sided. Everywhere we look, things are out of kilter, like a house of mirrors, where nothing quite looks the way it should. We have to check our glasses to make sure it isn’t us.
|
»
THE WEEKLY RECKONING
|
World markets have begun to wobble.
|
»
DAILY RECKONING
|
Every great public spectacle begins with a lie, develops into a farce, and often ends up a tragedy. We read the newspapers and wonder where the war in Iraq stands in the sequence. Certainly, the lies are behind it. The Bush administration told the lies it needed to tell to get the war underway. Now, no more lies are needed. But, does that mean we are in the farce stage? Or have we already moved to tragedy?
|
|
|
|
|
|
|
full story
printer version