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The Daily Reckoning

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Written in a wry, witty and often irreverent manner, The Daily Reckoning has offered its over 500,000 readers insights and advice not offered by today's mainstream media. The DR looks at the economic world-at-large and offers its major players - investors, politicians, economists and the average consumer - some much-needed constructive criticism.
URL: http://www.dailyreckoning.com/
Updated: 13 hours 22 min ago

Data Shows Just How Bad Things Really Are

Fri, 11/14/2008 - 09:06
"The employment picture continues to darken here in the United States, and it doesn't look like it will improve any time soon. This is just what the U.S. consumers don't need right now."
Categories: Agora Financial

A Trillion-Dollar Deficit

Thu, 11/13/2008 - 12:15
by Bill Bonner. "And so...those questions before us...the world moves closer to its first trillion-dollar deficit. Wait...did we say 'trillion dollar?' Make that $2 trillion."
Categories: Agora Financial

Paulson Throws the Markets a Curve

Thu, 11/13/2008 - 08:03
By Chris Gaffney. "'In a striking admission, Paulson said that buying mortgage assets "is not the most effective way" to use government funding. Geez Louise! I could have saved him, Congress, and the whole country a lot of time and stress...'"
Categories: Agora Financial

Prices Take the Plunge: The Fall of the U.S. Consumer

Wed, 11/12/2008 - 11:00
By Bill Bonner. "And now...'prices finally plunge,' reports the Daily Telegraph. An auction in New York of Impressionists and modern art was supposed to bring in $800 million. Instead, it barely fetched half that much - only $470 million by Friday night."
Categories: Agora Financial

The Junkyard Dog Bites

Wed, 11/12/2008 - 08:30
By Chuck Butler. "Well, the Junk Yard Dog got a hold of the euro yesterday, and even though the U.S. Banks, thus the majority of currency desks, were observing Veteran's Day, the move down in currencies versus the dollar, led by the euro, was drastic!'
Categories: Agora Financial

Obama's Big Bang Bailout

Tue, 11/11/2008 - 10:15
By Bill Bonner. "Meanwhile, we have some advice for Obama too: cut taxes. Cut them so much it takes the world's breath away. And then, talk up your Big Bang Bailout as if it were equivalent to WWII."
Categories: Agora Financial

Veteran's Day

Tue, 11/11/2008 - 08:33
By Chuck Butler. "There's a HUGE difference in these central banks that are now providing liquidity... Some do so from a position of strength like the ECB and China... and others do so from a position of weakness (the Fed)."
Categories: Agora Financial

No Ordinary Cyclical Downturn

Mon, 11/10/2008 - 10:30
By Bill Bonner. "Alan Greenspan courted power and fame. He got both. But you can't get power and fame without being a jackass. At least, that's our conclusion after reviewing the history of the United States of America."
Categories: Agora Financial

U.S. Payrolls Plunge

Mon, 11/10/2008 - 08:01
By Chuck Butler. "October's jobs losses were worse than expected (-200K), coming in at -240K... OUCH! But the real kicker, something the mass media might not have covered, was found in the September revision..."
Categories: Agora Financial

Apocalypse Now

Fri, 11/07/2008 - 12:33
By Bill Bonner. "The last time the sky fell was 96 years ago. Few saw it coming; no one panicked. But panic wouldn't exist if it weren't a useful instinct from time to time. The celestial bricks came unglued in August 1914..."
Categories: Agora Financial

Economic Rehab

Fri, 11/07/2008 - 11:31
By Bill Bonner. "No, we suspect investors are just looking ahead and realizing that the whole U.S. economy is going into rehab. And they figure they might need their cash for a little rehab of their own."
Categories: Agora Financial

Jobs Jamboree Friday

Fri, 11/07/2008 - 09:00
By Chuck Butler. "I've gone on record as saying that I believe the Jobless rate will move to greater than 7% in the next year, and could very well, be lapping at the shoreline of 8% when all is said and done on this recession..."
Categories: Agora Financial

Change? What Change?

Fri, 11/07/2008 - 08:55
By Chuck Butler. "I was doing some research on the Obama plans yesterday, and just don't see anything that points to any change in the debt creation. Yes, I know about the gradual withdrawal in Iraq... But that debt isn't on the radar screen."
Categories: Agora Financial

The Balance Sheet Recession

Thu, 11/06/2008 - 13:31
By Bill Bonner. "Obama has pledged to change things. That part will be easy; things are changing fast. Trouble is, they're not changing in the way he would like."
Categories: Agora Financial

The U.S. Dollar: From Strength to Weakness

Wed, 11/05/2008 - 08:41
By Bill Bonner. "The U.S. had the world's strongest and most reliable currency for half a century... But this much IS changing: the dollar is no longer our biggest strength; it is becoming our biggest weakness."
Categories: Agora Financial

The Day After

Wed, 11/05/2008 - 07:38
By Chuck Butler. "Oil prices also surged yesterday by over $6, and gold had a strong performance... But the commodities are going through the same thing the currencies are going through this morning... Profit taking."
Categories: Agora Financial

Election Day!

Tue, 11/04/2008 - 06:48
By Chuck Butler. "After viewing the landscape of falling stock prices, falling commodity prices, and falling home prices, I have to think that inflation is no longer the king of the hill... Deflation is all around us folks..."
Categories: Agora Financial

Deflation Now - Inflation Later

Mon, 11/03/2008 - 10:18
By Bill Bonner. "Deflation now. Inflation later. Falling asset prices...followed by falling consumer prices...followed by 'money from helicopters'...followed by rising prices...followed by the end of the U.S.-dollar based worldwide monetary system."
Categories: Agora Financial

Rate Cut Week

Mon, 11/03/2008 - 07:32
By Chuck Butler. "Expect rate cuts from the ECB and the BOE this week. Neither central bank will 'want' to cut rates... But both will feel the need to, given the slowdown in the United States..."
Categories: Agora Financial

GDP Goes Negative

Fri, 10/31/2008 - 07:15
By Chuck Butler. "Third quarter GDP goes negative (and if you throw in inflation for good measure, growth was REALLY negative!) and the dollar rallies... It's the trading theme of the decade!"
Categories: Agora Financial