By: Bill Bonner & The Daily Reckoning Crew - 14 July, 2006
-A slump is equal and opposite the fraud that preceded it...as housing weakens, so does our economy... -Stocks still taking a dive...sticking to our guns - and hoping it pays off... -"This is our home; this is our country" - even if we're not sure if we're coming or going...and more! Full Story
If the reader is thinking that it was easy to see the writing on the wall they would be mistaken. Most market analysts of the time were outright bullish. Some, even though bearish, believed a fall in prices would be arrested by a Federal Reserve flooding the market with yet more money. What they didn’t realize was that in the ensuing panic and loss of confidence NOBODY was willing to borrow, lend or spend any more than was absolutely necessary. Full Story
Stay down, you dumb sonofabitch! That’s what we felt like yelling every time the market tried to rally yesterday. With a regional firestorm threatening to erupt in the Middle East, a sane investor might have wondered why anyone would have bought stocks at all. Still, someone evidently did as shares staggered, wheezed, stumbled and tumbled their way lower, never mounting much of a rally. Full Story
By: Congressman Ron Paul & The Daily Reckoning Crew - 13 July, 2006
-Theory and facts do not meet as often as they should...something's gotta give... -Bidding up prices on things not easily "Made in China"...do you want to be a movie star? -A moment of silence for all of the dollars up in money heaven...Bill has a (somewhat) close encounter...and more! Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 13 July, 2006
In recent weeks, as the word “stagflation” has made a few appearances on the national media stage, many bullish skeptics, such as CNBC’s Steve Liesman, have downplayed the current “mini” stagflation with contrasts to the “real” variety of the 1970’s and early 1980’s. Such confidence however fails to recognize that we now measure economic activity and inflation with very different yardsticks than we did when Disco Duck topped the charts and Jimmy Carter wore sweaters. In reality, changes in the methodologies mean that the statistics bear as much resemblance as an 8-track to an iPod, and only serve to obscure the genuine threat we now face. Full Story
Da Boyz sandbagged the rubes who bought yesterday’s opening. Buying dried up after about ten minutes, then it was down, down, down for the rest of the day. I’d left you with an order to buy August DIA calls that got filled suspiciously easily, but instead of blowing them out when the market began to tank, we turned the position into a strangle by buying some August puts. Full Story
By: Congressman Ron Paul & The Daily Reckoning Crew - 12 July, 2006
-Facts are nothing without theories...a system based on misplaced faith... -The antidote to America's funny money...serious shocks to the U.S. and the U.K's financial systems... -Syd Barrett, RIP...nothing more sacred than your mom...and more! Full Story
By: Richard Daughty, The MOGAMBO GURU - 12 July, 2006
It was truly cacophonous inside the Mogambo Fortified Bunker Of Pure Fear And Panic (MFBOPFAP), as alarm bells and buzzers and klaxons and horns were all making a hell of a din, adding to the piercing sound of my own screaming. Why? It was last week's $11.5 billion increase in Total Fed Credit by the Federal Reserve last week. Full Story
By: James Howard Kunstler & The Daily Reckoning Crew - 11 July, 2006
-The supply of spendable money in America is falling...the curious "flation" the U.S. faces... -People are beginning to realize that this crisp, fresh money is a fraud...Essentialist Economic Principles... -In this market, anything can (and will) happen ...some things are better learned on the job than in school...and more! Full Story
Will Bernanke use the Fed to inflate or deflate? The only certainty is that he will do one or the other, damaging the information flow through the economy… until enough people realize that it’s time to "to cast him down and have no one in his place." In the meantime, best not to have all your family wealth in dollars when Bernanke’s helicopters start blaring the "Ride of the Valkyries." Full Story
By: Bob Chapman, The International Forecaster - 11 July, 2006
Yes, the economy is slowing. The question in America and across the world is how much, and how bad will it be? America is again collectively in denial. It should be disturbing to anyone of sound mind that the Fed is raising interest rates as the economy slows. Wall Street and government say they do not know where the end is, which is more denial and lies. Each interest increase is supposed to slow the economy, but no one writes about money and credit creation’s massive increase each and every day. This is what is known as a Ponzi scheme. The Fed can’t allow deflation because if it does, once it starts it is unstoppable and they are well aware of it. The economy is slowing on its own because people are buried in debt. Yes, interest rates hurt, but copious credit is still available. Full Story
“There is no housing bubble!” That would be no mere permabull talking, but rather a delusional, frothing-at-the-mouth, head-buried-in-the-sand, deny-it-unto-death permabull. One clinical notch below these nut-jobs are the ones who recognize that a housing bubble exists but think any danger it could pose to the U.S. economy would be limited to areas where real estate prices went bonkers. Full Story
By: The Mogambo Guru & The Daily Reckoning Crew - 10 July, 2006
-Bernanke is fighting a battle on two fronts...the dirty little secret of modern central banking... -One of the best places to catch some zzzz's...all about timing... -In economics, everything happens at the margins...the delicate balance of our everyday lives...and more! Full Story
Doug Casey tells listeners why he thinks gold is going to reach $3,000-$5,000. Doug is selling all of his US real estate and reveals the hottest place to buy a home at the best value. He is concerned about the domestic political environment and insists that Americans must move assets outside of the US in the form of Precious metals.
Kal Gronvall returns to help listeners determine the safest and most profitable way to invest in gold bullion. Kal's intimate knowledge of the precious metals industry helps him steer his clients toward the best coin and bullion values. Listeners can call his toll free number provided on the air today.
Bob Chapman and I discuss Dr. Stephen Leebs current economic outlook. Dr. Leeb is the author of several excellent texts and has a spotless track record of economic forecasts. He predicted the tech stock crash in 1999 and the oil boom in 2004. We'll discuss his latest economic forecast from his new book, The Coming Economic Collapse. Dr. Leeb outlines the ideal investments to protect wealth as well as to profit from the coming financial storm. Full Story
The unknowable has arrived. This is evidenced by the certainty with which the pundits integrate the volatility of the financial markets into their worldview. But there is an increasing false bravado in discussions of the competency of our hallowed financial institutions. So Keynesians, desperate for a plan, cling to bankrupt concepts for generating and maintaining wealth. Concepts soon to be antiquated by nature’s immutable laws. Full Story
After an extremely difficult past couple of years which saw share prices plunge and more political, economic and currency-related turmoil (not to mention personal intrigue) than is found in most novels, the dust is finally clearing in the South African mining sector. Full Story
Great gold price spikes such as the one encountered in 1979-1980 were unusual events, but punctuated mankind's existence. Throughout history, when a country debased its money for an extended period, its citizens eventually recognized the reduction in purchasing power of their savings and wealth. When this realization spread, a panic for self-preservation erupted. The result was typically a flight from their currency, and a rush to exchange the domestic money for tangible items. The primary one was gold. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 10 July, 2006
Frank, please try and understand that the fed cannot any longer control the gold price as they cannot even control any longer our US economy. So in simple terms burn the following text below in your mind.
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