Home » Posts tagged 'daily reckoning' (Page 3)
Tag Archives: daily reckoning
We’re All Serfs of Big Tech
We’re All Serfs of Big Tech What do you call an economy of monopolies without competition or any regulatory restraints? An economy of monopolies that controls both the buying and selling in the markets they control? Monopolies with the power to commit legalized fraud and the profits to buy political influence? Monopolies whose black box algorithms are […]
Why Martians Are Wrong About Gold
Why Martians Are Wrong About Gold A martian — Warren Buffett once razzed — would marvel that earthlings dig gold from the ground… only to rebury it in vaults. That is, the business is idiotic… pointless… and wasteful. At first blush, our space man is justly puzzled. Why would humans shovel up hunks of metal […]
They’ve Done It Again
They’ve Done It Again The stars are back in their courses. The angels are back in the heavens. And the Perfections are back within sight… For merely 148 trading days after bottoming… the S&P returned to record heights today. The index closed the day at 3,389 — eclipsing its February 19 height of 3,386. Thus […]
Inflation
Inflation Remember all those “green shoots?” That was the ubiquitous phrase used by White House officials and TV talking heads in 2009 to describe how the U.S. economy was coming back to life after the 2008 global financial crisis. The problem was we did not get green shoots, we got more like brown weeds. The […]
The Last Gasps of “Late Degeneracy Capitalism”
The Last Gasps of “Late Degeneracy Capitalism” It was a mid-afternoon in 2006 in Cannes, where I joined Dr. Kurt Richebächer at his apartment to collaborate on a book project that, unfortunately, failed to come together before his death a year later. The old man grabbed his cane and moved to a comfy chair and […]
The Fed Isn’t a Magic Money Tree
The Fed Isn’t a Magic Money Tree There seems to be no end to the Federal Reserve’s arrogance. Fed officials believe that through their wise actions, they can eliminate the business cycle, lower unemployment and make society prosperous. But it’s actually much more limited in what it can do. All the Fed can reliably do […]
REVEALED: The Fed’s Next Trick
REVEALED: The Fed’s Next Trick Today we lower our ear to the rail… and report the approach of a rumbling locomotive. Free and honest markets are roped to the tracks, squirming, writhing, sobbing. This iron horse is barreling toward them. Mr. Jerome Powell is at the controls… And murder is on his mind. What is […]
Goodbye, Free Market
Goodbye, Free Market Fremdschämen. Fremdschämen is a noun of the German language. It translates this way: Embarrassment for those incapable of feeling embarrassment. Today we suffer embarrassment for Mr. Jerome Powell and his fellows of the Federal Reserve… For no action they take lowers their heads in shame… or blushes their cheeks with embarrassment. Mr. […]
The Fed’s Forever War Against Savers
The Fed’s Forever War Against Savers The war on savers rages into its second decade. And yesterday Field Marshal Powell vowed indefinite bombing, shelling, machine-gunning and bayoneting… until the white flag rises over enemy lines. It is war to the knife… and from the knife to the hilt. The only peace terms he will accept […]
Popular Delusions and the Madness of Crowds
Popular Delusions and the Madness of Crowds The oppressed rise to their feet. Police sink to their knees. Silence is violence. And violence is speech. From sea to glittering sea, from one continent to the next… protests yet rage. An injustice somewhere on a Minneapolis street evidently threatens justice everywhere. It certainly threatens the peace […]
Rise up, America!
Rise up, America! Today we hoist the black flag of anarchy… and plot illicit acts. For the spirit of sedition steals over us. And passion overmasters our typical Olympian serenity. We may be declared infamous and set down as an insurrectionist. We may be sent to the gallows. Yet the time for meek submission is […]
The Biggest Economic Threat Today
The Biggest Economic Threat Today Kind heaven, no! A fresh economic scourge is upon the land. Announces CNN: “New Threat to the Economy: Americans Are Saving Like It’s the 1980s.” Is a higher evil possible? Thus we are informed: Americans are slashing their spending, hoarding cash and shrinking their credit card debt as they fear […]
Rickards: This Time IS Different
Rickards: This Time IS Different Stocks stumbled out of the gate today, at least partially on fears about a resurgence in coronavirus cases. South Korea, which did an excellent job containing the virus, has reported a new batch of cases. Japan and Singapore also reported new cases. Infections are increasing in Germany as well, where […]
This Isn’t Just Another Crash
This Isn’t Just Another Crash Like addicts who cannot control their cravings, financial analysts cannot stop themselves from seeking some analog situation in the past which will clarify the swirling chaos in their crystal balls. So we’ve been swamped with charts overlaying recent stock market action over 1929, 1987,2000 and 2008 — though the closest […]
Bailouts Can’t Save This Fragile System
Bailouts Can’t Save This Fragile System It’s obvious the global economy is painfully fragile. What is less obvious is the bailouts intended to “save” the fragile economy actually increase its fragility, setting up an inevitable collapse of the entire precarious system. Systems that are highly centralized, i.e., dependent on a handful of nodes that are […]
