Author: Daily Reckoning

Election Wildcards

Election Wildcards BY JAMES RICKARDS for Daily Reckoning Investors need to be on guard against one or more surprises that can come without warning. I call these the “wildcards” in the election season. It’s hard to know which one might emerge,...

This Is How Long the Bubble Will Last

This Is How Long the Bubble Will Last BY JAMES RICKARDS for Daily Reckoning THE underlying economy (U.S. and global) has a strong deflationary bias. Central banks can’t tolerate deflation, so they respond with inflationary measures such as money printing, zero...

The Layoffs Are Just Beginning

The Layoffs Are Just Beginning BY JAMES RICKARDS for Daily Reckoning UNEMPLOYMENT skyrocketed in March and April, during the worst stage of the pandemic and the lockdowns that followed. The unemployment rate approached 15% in April and total initial claims for...

What Happened to American Labor?

What Happened to American Labor? BY BRIAN MAHER for Daily Reckoning THE United States Bureau of Labor Statistics informs us that American productivity has increased 70% since 1973. But average real hourly pay (adjusted for inflation, that is) has scarcely increased...

The Market’s Most Dangerous Month

The Market’s Most Dangerous Month BY BRIAN MAHER for Daily Reckoning Like a sudden fog stealing in from a clear sky, we are taken by surprise… For Labor Day weekend is hard upon us. We had forgotten until a colleague reminded...

Negative Interest Rates Have Arrived

Negative Interest Rates Have Arrived BY BRIAN MAHER for Daily Reckoning We are often warned that negative interest rates are an approaching menace — not an immediate menace. Yet are negative rates already reality in the United States? Has the unholy...

We Will Not Go Gently Into the Night: The Silent Majority Speaks

The Luckiest Country on Earth

The Luckiest Country on Earth by BRIAN MAHER for Daily Reckoning GOD looks after fools, drunkards and the United States of America, said Germany’s Iron Chancellor — Otto von Bismarck. Of these, we conclude God looks most jealously after the United...

Can the 2020s Repeat the 1920s?

Can the 2020s Repeat the 1920s? BY BRIAN MAHER for Daily Reckoning Put aside the present horrors and consider this question: Could the 2020s roar as the 1920s roared? Money man Ed Yardeni believes they may: We live in interesting, though...

Central Banks Driving Gold

Central Banks Driving Gold BY JAMES RICKARDS for Daily Reckoning Gold as an asset class is confusing to most investors. Even sophisticated investors are accustomed to hearing gold ridiculed as a “shiny rock” and hearing serious gold analysts mocked as “gold...

Banquo’s Ghost and Gold

Banquo’s Ghost and Gold BY JAMES RICKARDS for Daily Reckoning WE have all been mesmerized by action in the price of gold lately. In the past few weeks, gold rallied over $200 per ounce and traded solidly about the $2,000 per...

We’re All Serfs of Big Tech

We’re All Serfs of Big Tech by Charles Hugh Smith for Daily Reckoning What do you call an economy of monopolies without competition or any regulatory restraints? An economy of monopolies that controls both the buying and selling in the...

Why Martians Are Wrong About Gold

Why Martians Are Wrong About Gold BY BRIAN MAHER for Daily Reckoning A martian — Warren Buffett once razzed — would marvel that earthlings dig gold from the ground… only to rebury it in vaults. That is, the business is idiotic…...

America’s “Bridge Loan” Is Up

America’s “Bridge Loan” Is Up BY JAMES RICKARDS for Daily Reckoning A lot of the policy response to the COVID-19 pandemic was based on the belief that it would be over quickly. We saw big, multi-trillion dollar spending bills from March...