By: Peter Schiff, Euro Pacific Capital, Inc. - 27 October, 2006
This morning’s release of disappointing GDP figures for the third quarter capped a week of bad economic news. Nevertheless, Wall Street bulls continued to march to the pleasant beat of the "soft landing" scenario. The Fed's benign policy statement provided the soothing cadence upon which the National Association of Realtors chanted their rosy outlook for the housing market, despite more evidence supporting the opposite. However, a "soft landing" simply cannot be willed into existence no matter how many embrace it as a sure thing. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 27 October, 2006
-Smells like autumn - and desperation...new home prices fall by the largest amount in 35 years... -Reassurances from Greenspan - phew, now don't you feel better, dear reader?...apparently, the 21st century belongs to China... -The typical process of institutional degeneration...fair is foul, and foul is fair...and more! Full Story
By: Rick Ackerman, Rick's Picks - 27 October, 2006
A few words concerning my oddly rosy forecast for the Dow Industrials. My prediction that the blue chip average eventually will achieve 13045 was not inspired by any particular thought, nor by events that may have occurred or which could conceivably occur, in the real world. It is in fact a coldly mechanical objective derived from the long-term charts, and in its coldly mechanical way, it implicitly acknowledges the fact that stocks can do just about anything without heed to events in what we should like to call the “real” world. Full Story
By: Dr. Kurt Richebächer & The Daily Reckoning Crew - 26 October, 2006
-It seems like a waste if we don't spend our friends in the Far East's hard earned savings...if the fundamentals are so weak, why are the Dow and the dollar so strong? -Prospects do not look good for the homeland's financial assets...news falls on ears that don't hear... -The war in Iraq could cost 4,000% more than Rumsfeld's guesstimate...Exxon Mobile posts second-highest net income for any quarter...and more! Full Story
By: David N. Vaughn, Gold Letter, Inc. - 26 October, 2006
Any idiot watching gold these past few weeks could tell that gold has dearly wanted to climb higher, but I am certain orders have been to contain the gold price below 600 at all costs. Very important for political party in office to have gold under 600. Can’t have gold climbing with the elections getting closer. Full Story
By: Rick Ackerman, Rick's Picks - 26 October, 2006
It was morning in America yesterday on word that mortgage applications had risen 0.5 percent in the latest week. Investors lost little time bidding up the shares of some beleaguered homebuilders that we’ll always be thrilled to short at fat prices. And we did -- in the chat room, taking a few bucks out of a shallow sell-off in D.R. Horton before having second thoughts. Full Story
By: Puru Saxena & The Daily Reckoning Crew - 25 October, 2006
-What’s up with Spaniards these days? Don’t they know that they have a reputation to uphold? -An unnatural calm permeates the markets...it takes some time for major trends to reveal themselves... -What makes a group of people turn to butchery?...market histories...lawmakers lotto...and more! Full Story
By: Bob Chapman, The International Forecaster - 25 October, 2006
We believe soon the consumer is going to start to pay off debt and those with little or no debt will start paying down debt. The housing market’s cooling off has caught some peoples’ attention. Wages and salaries will continue to rise next year, which will put stress on corporate profits and cause more inflation. America is at a critical point and we believe is the most infamous financial episode since the Great Depression. The public doesn’t have a clue because they know little or nothing about the last depression and professionals have little understanding of the forces at work, how they intersect and what the outcome may be, nor quite frankly do they care. Full Story
By: Richard Daughty, The MOGAMBO GURU - 25 October, 2006
I was totally, totally unprepared for Total Fed Credit going up only $352 million last week. Less than a half-billion dollars! I mean, if you are going to continue to goose the economy and destroy the dollar with more and more money at cheaper and cheaper interest rates, like the wildly-irresponsible Federal Reserve has been doing for a decade, this is NOT how you do it. Full Story
By: Charles Sizemore & The Daily Reckoning Crew - 24 October, 2006
-You too can be rich!...it’s as easy as digging a hole with an interest-only mortgage... -What’s black and white, but NOT read all over?...newspapers in Canada are suffering, as paper stocks reach an all-time low... -CEO MY GOSH! You make HOW MUCH?...and more! Full Story
By: The Mogambo Guru & The Daily Reckoning Crew - 23 October, 2006
-Empire of dirt...Greenwich used to be such a nice town – that is, until the hedge funds moved in... -As dirt moves, so does GDP...why people love granite countertops... -The difference between a handmade kitchen and a professionally made one...not quite a dinosaur yet – but facing extinction soon...and more! Full Story
On October the 24th the FOMC will probably leave interest rates unchanged. It’s just prior to an election and besides if they lower them the dollar will fall in value. They cannot have that because that would stop foreign investors from buying dollar denominated assets. As we said when the increases in the overnight rates paused, January was the first month that even a possibility of a change downward in rates would come about. The establishment economic hacks are looking at June as the month. We will see, as you can imagine the situation is fluid. Full Story
By: Chris Waltzek, radio.GoldSeek.com - 23 October, 2006
October 21st, Show Highlights:
After a review of this weeks market headlines and forecasts, financial rock star Bob Chapman sheds light on this weeks market results and answers listeners questions. Next, the dynamic duo, Jack Chan and Gary Kaltbaum return to the show. Jack and I discuss little known opportunities in the commodities sector and a new exchange traded fund that you'll want to investigate further. Plus, Gary Kaltbaum has turned bullish on crude oil, gold, silver and commodities and thinks that tech stocks could be in trouble here. The first hour wraps up with the final audio excerpts from Benjamin Graham's: The Intelligent Speculator.
In the second hour, Dr. Doom rejoins us for a pre-Halloween fright. The good Doctor has scary news for stock investors. Are government statistics trustworthy? Dr. Marc Faber says living expenses have been increasing much faster than the core rate and that domestic and global numbers are rigged to the benefit of the powers that be. Plus how high could gold sore? Dr. Doom expects US hyperinflation to bring $10,000 per ounce gold and that could be just the beginning. In fact, American's could see the gold price climb to $1,000,000 per ounce if the dollar demise follows the pathway of all previous fiat currencies. Dr. Faber investigates China's economic miracle. He claims that Asian's are moving from bicycles, to motorcycles and cars, so expect much higher energy prices. Full Story
By: Chris Waltzek, radio.GoldSeek.com - 22 October, 2006
October 21st, Show Highlights:
After a review of this weeks market headlines and forecasts, financial rock star Bob Chapman sheds light on this weeks market results and answers listeners questions. Next, the dynamic duo, Jack Chan and Gary Kaltbaum return to the show. Jack and I discuss little known opportunities in the commodities sector and a new exchange traded fund that you'll want to investigate further. Plus, Gary Kaltbaum has turned bullish on crude oil, gold, silver and commodities and thinks that tech stocks could be in trouble here. The first hour wraps up with the final audio excerpts from Benjamin Graham's: The Intelligent Speculator.
In the second hour, Dr. Doom rejoins us for a pre-Halloween fright. The good Doctor has scary news for stock investors. Are government statistics trustworthy? Dr. Marc Faber says living expenses have been increasing much faster than the core rate and that domestic and global numbers are rigged to the benefit of the powers that be. Plus how high could gold sore? Dr. Doom expects US hyperinflation to bring $10,000 per ounce gold and that could be just the beginning. In fact, American's could see the gold price climb to $1,000,000 per ounce if the dollar demise follows the pathway of all previous fiat currencies. Dr. Faber investigates China's economic miracle. He claims that Asian's are moving from bicycles, to motorcycles and cars, so expect much higher energy prices. Full Story
This week’s discussion will be on the seventh and final monetary clause of the Constitution. As previously occassioned we will first list the seven monetary clauses contained within the Constitution. Full Story
By: John Mauldin, Millenium Wave Advisors - 22 October, 2006
"Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as they have predicted. I expect to see the stock market a good deal higher within a few months." - Dr. Irving Fisher, Professor of Economics at Yale University, one of the most important US economists of his day, speaking on October 17, 1929, a few weeks before the Great Crash. Full Story
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