Today’s edition of The Daily Reckoning features a fascinating repartee between two witty, insightful and thought-provoking observers of the human condition…especially that portion of the human condition that involves dollar signs. Both of these individuals provide a refreshing alternative to the mainstream financial media blather. Both of them prefer Hayek to Keynes. Both of them light up a room with their charm. But only one of them owns a chateau in France; and only one of them slips well-toned legs into Manolo Blahniks…at least as far as we know.
See if you can tell which one is which!
It's hard to believe that more than ten years have gone by since we began writing The Daily Reckoning out of a Paris office back in July of 1999?
Since then, a lot has changed. We have seen the dot com boom and bust... a massive expansion of credit...real estate mania and meltdown?and epic highs and lows in the markets.
Nothing about the past ten years has been boring. And we have been there throughout, trying to help readers make some sense out of our global economy. And hopefully providing a few laughs along the way.
In short, we pen The Daily Reckoning each day -- for free -- to show you how to live well in uncertain times. We aim to make each article the most entertaining 15-minute read of your day.
Excellent interview! Bill speaks common sense whereas the main stream pronosticators speak economic gobbled goop and confuse themselves with their own convoluted mental constructs.
the problem with the interview is that, regardless of any truism explained by Bill Bonner, the keynesian and other fraudulent advocates can never listen nor understand… they do not understand man, they cannot cope with the concepts of cause and consequence and worst, they sincerely believe they can tame the economy when history clearly proved this only leads to dead-ends.
Reasons why and how Pres. Obama may direct America out of this financial wilderness that was caused by the Republicans ( the church crowd from the South )
An energy revolution in supply thanks to NAFTA which the Republicans ( the church crowd from the South ) by and large opposed. The energy revolution would be in fracted shale-oil and gas from Manitoba, Saskatchewan, Alberta, BC, North Dakota, Montana, Wyoming, Colorado, Oklahoma, Kansas, Texas, Chihuahua, Sonora, Arizona, Utah, Idaho, New Mexico, Coahuila, Durango,Nuevo Leon, Tamulipas, Baja California Norte, Nevada and California. There may also be coal from West Virginia and Pennsylvania, also Montana, Wyoming and Alberta. There may also be new hydro-electric dams on all major rivers such as the Colorado River, the Rio Grande River, and the Saskatchewan River. There may also be new atomic power plants. And shallow-water sea-floor drilling will continue for oil and gas.
Finally just to decorate this cake and make it into a memorable birthday cake: a few windmills and solar panels just for the laugh, planted into the chocolate frosting on the top. And the enemies of America would never try their $5 per gal. gasoline and 9/11 stunt ever again.
I see to-day, Nov 26, 2012 film of Black Friday shopping in America, and hoards of shoppers running into the stores and setting an all-time shopping sales record….. So, it would appear that the Great Recession is now over, and that the Federal Reserve Bank has finally used their old Alan Greenspan’s Keynsian economics to over-heat the economy. Here on the West Coast, where on Monday of Thanksgiving week, $65 would buy three adults food for one entire week including turkey and dessert, prices have now been raised again to former pre-holiday levels, and those levels were astronomic. In the housing market, houses are which were in foreclosure and sitting empty for months are now being flipped like hats in California, and something like the way they were flipped in the late 1970s…… Yes, things have changed just that fast.
So now comes the question: What is the Fed going to do next? Raise interest rates to 1% and invite the hyper-inflation to get worse even faster, or raise interest rates quickly now to a tolerable but serious 4% and put a stop to this hyper-inflation cancer signal, and fast? This serious inflation signal now in shopping and in housing is going to force Ben Bernanke’s hand real fast.
If Bernanke is Alan Greenspan, he will now sit and raise interest rates by 0.25% or do nothing at all. And then, things are going to get worse real fast. I saw in Felton, Calif to-day, a house sold a few months ago for $175,000 now placed back onto the Cal housing market for well over $400,000. Not that the house will sell at that price, but the owner will flip the home for double his purchase price and move on to the next….. And one would think the jack-asses at the Federal Reserve Bank would have learned from their 1970s mistake by now?
Revolutionizing the taxi industry seemed like a losing proposition -- at least to Wayne Mulligan. But a few months later, he changed his tune thanks to a little company called "Uber." Today, he identifies another company that seeks to revolutionize a different aspect of the transportation industry: mass transit. Read on...
After several years of trial and error, Dr. James Olson and his team have created something called "tumor paint" - which increases the visibility of tumors in a patient, allowing the doctor to work more effectively on removing it. Remarkably, the discovery of this "tumor paint" has come from the most unlikely of places...
It's interesting to listen to politicians' assessment of the U.S. government. Many believe it's a functional system of "self-government" that gives back as much as citizens are willing to put into it. Of course, as Sheldon Richman explains, U.S. citizens do not actually govern themselves, but are rather ruled by those who suggest they do. Read on...
Uh oh... The market rally is looking decidedly "un-rally-like" with the broad market posting losses for 3 straight days, now. Could this be the beginning of the end? Greg Guenthner explains, and provides a reason as to why this year’s recovery could be the beginning of an even larger trend. Read on...
The oil is pouring in from North Dakota's Bakken oil field. And as it does, so do the investment opportunities. Of course, you'll notice a few familiar names in the group currently taking advantage of the "shale gale"... But there are some great small companies to watch as well. Today, Matt Insley relays one of each. Read on...