Author: Daily Reckoning

Urgent Questions

Urgent Questions by Brain Maher for Daily Reckoning “Failure to comply with this order will result in a $5,000 fine and up to one year in prison…” We woke this morning to this menacing threat. It came issuing from the...

It’s Over

It’s Over by Charles Hugh Smith for Daily Reckoning The financial elites are pushing a narrative that asset prices, sales and profits will all return to January 2020 levels as soon as the Covid-19 pandemic fades. Get real, baby. Nothing...

Go Big or Go Home

Go Big or Go Home by Charles Hugh Smith for Daily Reckoning To understand why the financial dominoes toppled by the Covid-19 pandemic lead to global insolvency, let’s start with a household example. The point of this exercise is to...

A Warning From the Great Depression

A Warning From the Great Depression BY BRIAN MAHER for Daily Reckoning 3.28 million. That is the total number of unemployment claims Americans filed last week — nearly five times the prior record of 695,000, from October 1982. “We’ve known...

The Great Dollar Shortage

The Great Dollar Shortage by Jim Rickards for Daily Reckoning The coronavirus pandemic is a human tragedy. It’s also an economic tragedy, as the global economy is collapsing around us. Second-quarter U.S. GDP may drop as much as 30%, which...

Get Ready for World Money

Get Ready for World Money BY JAMES RICKARDS for Daily Reckoning Since Federal Reserve resources were barely able to prevent complete collapse in 2008, it should be expected that an even larger collapse will overwhelm the Fed’s balance sheet. That’s...

“Hell Is Coming”

“Hell Is Coming” BY BRIAN MAHER for Daily Reckoning We sense that we are among unrealities… It is as if some hinge, deep within the national psychology, has suddenly given way. The daily rites of life are suspended. Businesses, schools...

“Close the Whole Thing Up”

“Close the Whole Thing Up” BY BRIAN MAHER for Daily Reckoning “If this doesn’t work,” wonders Seema Shah, Principal Global Investors central strategist… “What will?” “This” is of course the Federal Reserve’s desperate harum-scarum yesterday afternoon. Mr. Powell and crew...

R.I.P.: Requiem for a Bull

R.I.P.: Requiem for a Bull BY BRIAN MAHER for Daily Reckoning For the longest bull market in history… it is a time to die. For the Dow Jones, aged 11 years and two days, the soul quit the body yesterday...

Complex Systems Collide, Markets Crash

Complex Systems Collide, Markets Crash by Jim Rickards for Daily Reckoning At some point, systems flip from being complicated, which is a challenge to manage, to being complex. Complexity is more than a challenge because it opens the door to...

Whiplash!

Whiplash! BY BRIAN MAHER for Daily Reckoning Markets rediscovered their fighting elan today. Impassioned pledges of government support stiffened their nerves… and steeled their spines. But will they soon be taking to their heels again? We cannot say. We are nonetheless...