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Most Recent Daily Reckoning Articles
What About Austerity?
Within the billions of sentences about the financial bailout there is one word notably absent, austerity. All talk is of payments, supports, subsidies, incurring more debt, stimulus packages. The thesis seems to be: If only we spend more the party can go on. True, only if the financial meltdown is a temporary mismatch and dislocation…Read more…
Depressions Take Time
Everything is working out just like we thought it would. The stock market is performing as expected. The economy is on track. Even the politicians are doing what they thought they would.
Let’s begin with the stimulus/bailout/boondoggle/BS plan. As anticipated, it has failed. That is, the economy is getting worse, not better. It has…Read more…
The Two Most Important Measures
We’ve said it before: This depression will be defined by two measures. Housing — most people’s largest store of wealth and employment — the backbone of any economy. Millions of people without jobs stuck in homes they can’t afford will not be able to “put the economy back on track,” as the current administration likes…Read more…
