Daily Reckoning Desiderata

A Daily Reckoning Desiderata
(Found in Old Saint Paul’s Church in Baltimore, Dated 1692…we have merely updated it.)


Remember that there is a fool every corner and a sucker born every minute; be on good terms with all of them.  Speak your truth quietly & clearly; listen to others, even the dull & ignorant; for they too have money to spend.

Avoid loud & aggressive persons, they are vexations to the spirit.  If you compare yourself with others, you may become vain or bitter – especially if you check out their balance sheets – for always there will be greater & lesser persons than yourself.

Ask not what you can do for your country, but what your country can do for you – before it goes broke.

Keep interested in your career, however humble; you’ll probably need the money.

Exercise caution in your business affairs, for the world is full of trickery.  But let this not blind you to what virtue there is: many persons strive for high ideals, though everywhere life is full of private heroism, as well as public humbug.

Be yourself,  but only if you can’t do better than that.  Especially, do not feign affection, for what is the point?  Neither be cynical about love; for in the face of all aridity & disenchantment it is perennial as the grass…or at least as cyclical as presidential elections.

Take kindly the counsel of years, gracefully surrendering the things of youth; the old codgers might know something.  Nurture strength of spirit to shield you in sudden misfortune.  Misfortune is practically guaranteed; especially after 18 years of Alan Greenspan at the Fed.  But do not distress yourself with imaginings; there is no need…things are worse than you could ever imagine anyway.  Beyond a wholesome disciple, be gentle with yourself.  But do not forget to kick a man when he is down; he would do the same to you.

You are a child of the universe, no less than the trees, the stars, and bathtub rings; you have a right to be here.  And whether or not it is clear to you, no doubt the universe is unfolding as it should, whether you like it or not.

Therefore be at peace with God and on even terms with bookies and barkeeps.  With all its shame, drudgery, claptrap & broken dreams, it is still a beautiful world.

Bill Bonner
The Daily Reckoning

Brought to you by The Daily Reckoning:

Empire of Debt: The Rise Of An Epic Financial Crisis
by Bill Bonner and Addison Wiggin
The team that brought you the international bestseller Financial Reckoning Day—reunite to provide you with the first in-depth look at how the American character has shifted to accommodate its new imperial role; how we have abandoned the private virtues of personal liberty, economic freedom, and fiscal restraint; and how the “guv’mint” has gained control of public life and the economy. The result has been, among other horrors, unfettered deficit spending, gluttonous consumption, and fearless military adventurism. All the while, the nation slouches ever more precipitously towards bankruptcy. Learn more about the Empire of Debt

Demise fo The Dollar
by Addison Wiggin
…examines the reasons for the dollar’s current slide–including the nation’s historic trade deficit, the Euro, government spending habits, globalization, and other international factors–and offers an entertaining look at the Federal Reserve’s attempts to “manage” the dollar’s value.

Financial Reckoning Day
by Bill Bonner and Addison Wiggin
…artificially low interest rates and rapid credit creation policies set by Alan Greenspan and the Federal Reserve caused the bubble in U.S. stocks of the late ’90s. . . . Now, policies being pursued at the Fed are making the bubble worse. They are changing it from a stock market bubble to a consumption and housing bubble. And when those bubbles burst, it’s going to be worse than the stock market bubble.