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?
There have been quite a few disappointing numbers in the global economy recently. But as these numbers are just economic "snowflakes" building toward a financial avalanche. All you need is one to push it over the edge. And as Dave Gonigam explains, the deciding snowflake may come from Switzerland. Read on...
After the 2008 financial crisis, little could be heard over the deafening cries of "mission accomplished." And while the Fed's massive QE program seemed to work, the question remains: for how long? Addison Wiggin explains why the next round of QE will fail miserably, paving the way for the IMF to step in with something called "special drawing rights." Read on...
Global warming is one of the most debated subjects of the last few years. But regardless of whether you're a "true believer" or a merely an unconvinced skeptic, there are significant ways to make serious money from this controversial topic. Today, Addison Wiggin brings you three of them. Read on...
Under the auspices of benefiting public health, the government has been administering medication to you and your family for generations. But is it really necessary? Or worse... Could it actually be harmful? Chris Campbell takes a closer look at this, and other personal health decisions the feds don't trust you to make...
Commodities have been in freefall lately. Everything from corn to soy beans to precious metals is headed lower right now. But is this just a brief downturn, or is this the beginning of a long-term trend? Greg Guenthner explains, with a closer look at one specific precious metal that could snap back violently before heading lower. Read on...
The inflation vs. deflation debate is a heated one. Heck, it almost brought Peter Schiff and Harry Dent to blows. But at the core of this debate is a common misunderstanding of the nature of both inflation and deflation. Today, Jim Mosquera seeks to explain each... and which one the U.S. is more likely to experience. Read on...