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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.
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Finally, an Obama Bounce
By Bill Bonner. "Yes, the worst is still ahead. We are only at the beginning of this correction. Stocks and commodities are the cutting edge. And it's fun to watch Wall Street stumble. But now, we get to watch the economy bleed. The scene will turn grim."div
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Buying Buicks Instead of Bonds
By Chuck Butler. "The U.S. Fed Reserve's Beige Book that usually gives us an indication of what to expect in the next FOMC meeting (which will take place December 16th), printed yesterday... And it could probably be listed on Amazon under 'horror' books!"div
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U.S. Automakers Get What They Deserve
By Bill Bonner. "For a half century, it was downhill driving for America's automakers. But it's very hard to recover from success. And Detroit couldn't quite do it. They squandered their money...they missed their market target..."div
a href="http://feeds.feedburner.com/~f/dailyreckoning?a=8ijxO"img src="http://feeds.feedburner.com/~f/dailyreckoning?i=8ijxO" border="0"/img/a a href="http://feeds.feedburner.com/~f/dailyreckoning?a=muiNo"img src="http://feeds.feedburner.com/~f/dailyreckoning?i=muiNo" border="0"/img/a a href="http://feeds.feedburner.com/~f/dailyreckoning?a=0stzo"img src="http://feeds.feedburner.com/~f/dailyreckoning?i=0stzo" border="0"/img/a a href="http://feeds.feedburner.com/~f/dailyreckoning?a=Pcwyo"img src="http://feeds.feedburner.com/~f/dailyreckoning?i=Pcwyo" border="0"/img/a a href="http://feeds.feedburner.com/~f/dailyreckoning?a=a66nO"img src="http://feeds.feedburner.com/~f/dailyreckoning?i=a66nO" border="0"/img/a
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Automakers Say They Need Funding Now
By Chuck Butler. "ADP is forecast to show a negative 200K job loss in November. Right now, the Jobs Jamboree is forecast to show a negative 325K job loss in November, so the ADP report is no sight for sore eyes over at the Bureau of Labor Statistics..."div
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Welcome to the Recession - Already in Progress
By Bill Bonner. "And it's not just in the United States. Shipping has sunk. Manufacturing in Britain has had it biggest drop since the early '90s. And house prices in the United Kingdom are back to where they were three years ago."div
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The Gloom of the Apres-bubble World
By Bill Bonner. "Over in the English-speaking world, though, it was madness on the way up...and it is madness on the way down. Which is great fun for economists...but a little nauseating to the poor guy who's just along for the ride."div
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The NBER Finally Says So!
By Chuck Butler. "Guess what finally happened yesterday, that I've said was the case since January? Yes, the National Bureau of Economic Research (NBER) finally came clean and said that the United States has been in a recession since December 2007."div
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Back to Risk Aversion
By Chuck Butler. "I thought that we could be on the cusp of a 'change' in the currencies... But, I doubt 'that' has happened, as a return to risk aversion is back on the table..."div
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Balance Sheet Recession - or Depression?
By Bill Bonner. "So far...all we're sure of is that there is a 'balance sheet recession' setting in. And maybe it will turn into a balance sheet depression. Companies, individuals and investors are all desperately trying to rebuild their balance sheets"div
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Obama Picks His Economic Team
By Chris Gaffney. "Obama has picked Timothy Geithner, head of the Federal Reserve Bank of New York, to be his Treasury secretary, and former Treasury chief Lawrence Summers will be White House economic director."div
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Misguided Risk Aversion
By Chris Gaffney. "The number of Americans filing for unemployment benefits approached a 26-year high of 542,000, last week. The unemployment rate will likely increase another 100 bps by this time next year..."div
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The Fall of Wall Street: Innocent Frauds and Armed Robberies
By Bill Bonner. "But now, they that did ride so high now lie in the gutters of lower Manhattan. People practically spit at you on the street. They blame you for their losses...for taking away their retirements...for wrecking the whole world's economy."div
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SNB Cuts Rates 100 BPS!
By Chuck Butler. "The Swiss National Bank (SNB) decided to take the plunge this morning and take out their yield that's offered... The SNB cut rates 100 BPS! That's crazy man! Crazy!"div
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Welcome to the Great Unwind
By Bill Bonner. "And just look at the bonds! A few months ago, investors stretched for yields. Now, it's safety they reach for. They dump corporate bonds for fear they may be 'toxic,' and grab U.S. Treasury debt with both hands."div
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King Henry Keeps His Cash
By Chuck Butler. "For once, I'm not going to take King Henry to the woodshed... The lawmakers were banging on him and Fed Chairman Big Ben to dole out funds to anyone that was in dire straits... But they held their ground..."div
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