Articles from NaturalNews In-House Writers:
Product Review: Acer Aspire One netbooks set new standard in mobile computingBy Mike Adams, October 13 2009
(NaturalNews) It's rare to discover a technology product that genuinely changes the way you get things done, but the Aspire One netbook from Acer accomplishes exactly that. It's a feature-packed "netbook" that can revolutionize the way you read websites, listen to audio books, read e-books, watch videos or teleconference with friends. It may seem odd to review a technology product on this website, but because of the ways in which this netbook can greatly enhance your ability to interact with electronic...
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Articles from Citizen Journalism Writers:
Vandal EconomicsBy Daily Reckoning, October 29 2009
(NewsTarget) Vandal Economics
[Bill Bonner] 08/14/09 Ouzilly, France
"In keeping with the requirement that old engines be destroyed, mechanics across the country poured sodium silicate into crankcases and revved engines, causing mass car death," says an article in Harper's Weekly.
"It just don't make sense," said a used-car-parts salesman in Dayton, Ohio. In Glenview, Illinois, mechanics watched a blue 1994 Chevy Lumina van wheeze and choke for five minutes before stopping. "That's a good...
The Consumer Has Dug in His HeelsBy Daily Reckoning, October 29 2009
(NewsTarget) The Consumer Has Dug in His Heels
[Bill Bonner] 08/14/09 Ouzilly, France
How do you like this recovery? Pretty good, huh?
Except for the jobs, of course.
And except for the retail sales.
And except for the foreclosures... and house prices. And incomes. And consumer prices. And business profits.
It's like a female impersonator...just like a real woman in every way, except for the essential ones.
At least stocks are doing well. The Dow rose another 36 points yesterday...
What Chinese Depression?By Daily Reckoning, October 13 2009
(NewsTarget) What Chinese Depression?
[Bill Bonner] 08/12/09 Ouzilly, France
Man's hope!
Yes, it's the 'miracle economy.' China, that is. Many analysts think it has 'decoupled' from the rest of the world economy. While the rest of the world sinks into the 'worst recession since the '30s,' it is said to be growing at 8% per year.
Go figure.
Well...when we go figure we figure there's something fishy about it. In fact, we figure it's a fraud.
In America, the bear market bounce took...
Land of the Lost DecadesBy Daily Reckoning, October 13 2009
(NewsTarget) Land of the Lost Decades
[Bill Bonner] 08/11/09 Ouzilly, France
What's ahead?
A "Lost Couple of Decades..." says Comstock partners.
Yesterday, we estimated that it would take 19 years for the economy to complete its de-leveraging. It was not a very scientific estimate. But total debt has gone down about $2 trillion over the last 24 months. So, if it continued at that rate, it would take about 19 years to erase the extraordinary amount of debt built up in the bubble years...
Economists Lead the Way to CalamityBy Daily Reckoning, October 13 2009
(NewsTarget) Economists Lead the Way to Calamity
[Bill Bonner] 08/07/09 Ouzilly, France
Goldman gets a hidden bailout...Wall Street uses bailout money for bonuses...Cash for Clunkers...nationalizing GM...quantitative easing...Geithner lies to the Chinese...
Crackpot ideas! Corruption! What next?
But the most breathtaking scene is the one no one seems to notice...
Perhaps it is because we have our head in the clouds...so far above the surface of everyday life that we can look down...
Stitch in TimeBy Daily Reckoning, October 13 2009
(NewsTarget) Stitch in Time
[Bill Bonner] 08/07/09 Ouzilly, France
At least something good has come out of the economic crisis; it blew off the purple robes that clothed economists and exposed their naked flanks. Still, they don't deserve the beating they're getting in the press - with snide remarks and sarcastic comments; they deserve better. A beating with sticks!
Even Alan Greenspan admitted he had "found a flaw" in his own thinking. We will have to imagine the giggles from the back...
A Financial World Gone MadBy Daily Reckoning, October 13 2009
(NewsTarget) A Financial World Gone Mad
[Bill Bonner] 08/06/09 Ouzilly, France
The Dow slipped a bit yesterday - only 39 points. Everyone is watching. They want to see how far this rally carries on. Many think it is more than a bear market bounce; they think it is for real.
The prevailing opinion is that quick action by the feds avoided a more serious meltdown. Ben Bernanke says he was working to prevent a "second Great Depression."
And now that the crisis is past, the economy is slowly...
A Decade of PainBy Daily Reckoning, October 13 2009
(NewsTarget) A Decade of Pain
[Bill Bonner] 07/27/09 London, England
Heathrow Airport is a nightmare in many ways. It is so large it can take hours to get from one terminal to the next. Yet, when we came back from Vancouver on Saturday, we landed at 10:30AM. By 11AM we were in central London.
We flew through the airport...got the express train. The whole thing took only a fraction of the time it takes us when we fly into Dulles at Washington.
But London was in a sour mood when we returned...
What's Good for Goldman is Bad for the NationBy Daily Reckoning, October 13 2009
(NewsTarget) What's Good for Goldman is Bad for the Nation
[Bill Bonner] 07/24/09 Vancouver, British Columbia
We're attending a financial conference here in Vancouver. Yesterday was actually the tenth anniversary of The Daily Reckoning. A group of readers took your editor to dinner and roasted him.
He was flattered...and grateful for the attention.
But we're not kidding ourselves. Readers come up to us at conferences and tell how much they enjoy reading the DR. We wait for questions...
Don't Put Your Money on a US RecoveryBy Daily Reckoning, September 16 2009
(NewsTarget) Don't Put Your Money on a US Recovery
[Bill Bonner] 08/05/09 Ouzilly, France
The future cometh...
Cash for bankers! Cash for Detroit's clunkers! From one scam to the next...
But first, let us turn to the latest market update.
The Dow rose again yesterday - up 33 points, to close at 9,320. We set 10,000+ as our objective for this bounce. We'll stick with it for a while longer.
Make no mistake though. No one knows how long this rally will last - certainly no one here...
Housing Numbers Err on the Bright SideBy Daily Reckoning, September 16 2009
(NewsTarget) Housing Numbers Err on the Bright Side
[Bill Bonner] 08/04/09 Ouzilly, France
Is it time to buy a house?
Depends...
If you need a place to live and want to own a house, why not? Prices in some areas are fairly reasonable. But if you're speculating, our guess is that you'll get a better deal if you wait.
Why? For the many reasons we have given you in these Daily Reckonings. House prices may be firming in some areas - that's what the Case-Shiller numbers seem to show....
Sticking With the BasicsBy Daily Reckoning, September 16 2009
(NewsTarget) Sticking With the Basics
[Bill Bonner] 08/03/09 Ouzilly, France
What's new? Nothing much....
Markets still moving up...
Oil rose $2.50 on Friday...to $69. Gold rose $18 to $953. The Dow was up 18 points. And the dollar fell to $1.42 per euro.
And governments are still doing the wrong thing...trying to increase demand. It's not possible...for reasons we describe below...
Well, it's August...and we're on vacation. But just because we're on vacation doesn't mean the...
Showdown With the Bond VigilantesBy Daily Reckoning, September 16 2009
(NewsTarget) Showdown With the Bond Vigilantes
[Bill Bonner] 07/31/09 Paris, France
It's time for summer vacation in France.
"You can forget about getting anything done in the month of August," said colleague Simone Wapler. "The French are busy with serious things...real things...like painting shutters and picking green beans...fixing curtains and making strawberry jam. They don't want to hear about economics or markets..."
France begins its summer vacation today. We've come to join...
We Are All Jackasses Now By Daily Reckoning, September 16 2009
(NewsTarget) We Are All Jackasses Now
[Bill Bonner] 07/31/09 Paris, France
For whatever reason, the French newspaper, Liberation, chose to recall a grim event last week. On February 4, 1912 Franz Reichelt, also known as the 'flying tailor', put on his contraption - a homemade outfit designed to work like a parachute - went up to the first observation level of the Eiffel Tower, hesitated...then stepped over the rail and jumped.
Alas, he did not fly. Nor even float. He fell "like a stone...
Inflationary SurprisesBy Daily Reckoning, September 16 2009
(NewsTarget) Inflationary Surprises
[Bill Bonner] 07/28/09 London, England
We love surprises! But only when we see them coming.
We're always wondering: how will we be surprised? What will happen that we don't expect?
It's easy to make money...if there are no surprises. You just put your money in something that is going up and let it go.
But surprises sink ships, marriages, military campaigns and investment portfolios. Things happen that you're not prepared for...
A friend told...
A Piece of the Stimulus PieBy Daily Reckoning, September 16 2009
(NewsTarget) A Piece of the Stimuls Pie
[Bill Bonner] 07/29/09 London, England
Despite what you are most likely reading in the press, the folks getting bailout money are pretty sharp. They're very good at gaming the system.
More about that in a minute. First, the Dow went nowhere yesterday. Gold fell $14 to $939. And Newsweek magazine announced, "The Recession is Over." Newsweek hedged its bets; adding that the recovery won't be a piece of cake.
Elsewhere in the news is word that the...
This Too Shall Pop, Part II By Daily Reckoning, September 16 2009
(NewsTarget) This Too Shall Pop, Part II
[Bill Bonner] 07/30/09 London, England
Comes word this morning that the China State Construction Engineering Company has gone public. It's the biggest public offering - at $7.3 billion - in more than a year. It's also China's biggest homebuilder. And as soon as the shares hit the market yesterday they soared...closing 56% higher than the IPO price. At that price, it trades at about 40 times forecast 2009 earnings.
Why would you pay 40 times earnings...
Romulus, Remus, Stimulus: A Brief History of Monetary MadnessBy Daily Reckoning, September 16 2009
(NewsTarget) Romulus, Remus, Stimulus: A Brief History of Monetary Madness
[Bill Bonner] 07/24/09 Vancouver, British Columbia
Those whom the gods would destroy are first granted stimulus. When a man wins the lottery, for example, it has a stimulating effect on everyone around him. He usually spends the money quickly - often even before he gets it. But no matter how much he wins, he is usually broke within a few years...often, even broker than he was before he bought the winning ticket.
A...
A Worldwide Bubble in EverythingBy Daily Reckoning, September 7 2009
(NewsTarget) A Worldwide Bubble in Everything
[Bill Bonner] 07/23/09 Vancouver, British Columbia
The depression deepens.
"These are not layoffs...they're permanent job losses," said Barry Ritholtz yesterday morning in his presentation at the Agora Financial Investment Symposium in Vancouver. "These people are not going back to work anytime soon."
That is the difference between a recession and a depression. In a recession people get laid off...and then they are called back to work when...
Time for a Real CureBy Daily Reckoning, September 7 2009
(NewsTarget) Time for a Real Cure
[Bill Bonner] 07/22/09 Vancouver, British Columbia
They're wrong. We're right.
Now The Wall Street Journal says, "recovery likely in second half."
And Goldman Sachs calls for a stock market rally similar to the rally in 1982.
Who are we to say they are wrong?
Well...we're The Daily Reckoning, that's who. And we'll say it: they're wrong.
This 'recession' is already the second longest since the first leg down of the Great Depression. That downturn...
An Intelligence Test for BankersBy Daily Reckoning, September 7 2009
(NewsTarget) An Intelligence Test for Bankers
[Bill Bonner] 07/21/09 Vancouver, British Columbia
It's a good day for robbing a bank - they've got money for a change!
How fast the bankers redeemed themselves...just a few months ago, we were making jokes about them:
"What do you say to a banker who has lost his job on Wall Street?"
"Uh...can I have fries with that?"
But now they're geniuses again. And they can prove it...just look at their pay stubs!
And if there's any fear that...
Bubble Deniers, Part IIBy Daily Reckoning, September 7 2009
(NewsTarget) Bubble Deniers, Part II
[Bill Bonner] 07/17/09 Madrid, Spain If you ask a serious economist, "What was the lesson of the Soviet economic experience?" he would have a ready answer:
"It was that distributed information is more reliable than the centralized variety." In the non-communist world, if a man had money and no bread, he exchanged the former for the latter...and sat down to dinner. As if guided by an 'invisible hand,' millions of people did the same thing. Everyone tried...
The Zero-Sum Game of SpeculationBy Daily Reckoning, September 7 2009
(NewsTarget) The Zero-Sum Game of Speculation
[Bill Bonner] 07/17/09 Madrid, Spain Two important headlines this morning, both of them fraudulent:
"Chinese economy bounces back," says one headline in the International Herald Tribune.
"JPMorgan profit soars despite downturn," says another.
The average reader or TV viewer will go no further. "Ah," he says to himself, "good news; the worst is over. China is a green shoot as big as the Amazon. And JPMorgan is a leader in the financial sector...
This Too Shall PopBy Daily Reckoning, September 7 2009
(NewsTarget) This Too Shall Pop
[Bill Bonner] 07/16/09 Waterford, Ireland The monsoons came to an end yesterday afternoon...more below...
In the meantime, the Financial Times, on the final page of the first section, reports the big news:
"China...is back in bubble land."
After the expansion comes the contraction. After the bubble comes the clean-up. After the storm comes the sun.
But what is going on in China? What comes after the biggest export-led bubble ever? Another bubble?
It...
An Economy on Life SupportBy Daily Reckoning, September 7 2009
(NewsTarget) An Economy on Life Support
[Bill Bonner] 07/15/09 Waterford, Ireland Our faith is weakening. That is, our faith that the government will be able to cause inflation, sooner or later.
Let's review our own narrative: deflation now, inflation later.
It's very simple. Maybe too simple. After a half a century of credit expansion, we now have a credit contraction. In this sense, everything is happening as it should.
There was a crash and credit crunch at the end of last year....
Bubble DeniersBy Daily Reckoning, September 7 2009
(NewsTarget) Bubble Deniers
[Bill Bonner] 07/10/09 London, England "War Criminal says Sorry, Sobs," was the headline in the Nation on February 9th, 2004. Robert McNamara had just done something extraordinary for Secretaries of War: with tear in his eyes, he apologized for his role in the Vietnam War. The war made ghosts out of 58,000 American soldiers. On the Vietnamese side, the total was over a million. This week, McNamara went to meet them.
Why do smart people do such stupid things? The...
Preparing for the New EconomyBy Daily Reckoning, September 7 2009
(NewsTarget) Preparing for the New Economy
[Bill Bonner] 07/14/09 Waterford, Ireland "America is beginning to consider a new stimulus program," said Irish television last night.
It was a rainy day in the Emerald Isle yesterday. The wind was blowing. Rain was coming down. By 7pm, it was time for a pub and a drink. The Irish know what to do in the evening...
"Welcome to Ireland," said the cab driver this morning. "Don't you love this summer weather?'
It would have passed for a bad winter...
Get Ready for the Second Gold RushBy Peter Ragnar, August 29 2009
(NewsTarget) We are in the midst of what will surely be a second gold rush. Why is that? You can look at history to begin getting a clue.
In 1839, the Mexican governor of California gave a large grant of land to a German immigrant. The land was used as a trading center for newly arrived settlers. Soon, a colony was established in the Sacramento Valley on the land. John Sutter must have been quite satisfied - until the U.S. Supreme Court declared the title for much of his land to be invalid.
Frustrated...
The Great Credit Contraction ComethBy Daily Reckoning, August 29 2009
(NewsTarget) The Great Credit Contraction Cometh
[Bill Bonner] 07/10/09 London, England "In a fundamental shift, consumers are saving rather than spending," notes the Los Angeles Times.
This is the shift we've been talking about for months. The great credit expansion of 1945-2007 is over. Now cometh the great credit contraction.
During the bubble years, more and more credit produced less and less real prosperity. It was as if you were borrowing more and more, to invest in your business...
No Recovery in SightBy Daily Reckoning, August 29 2009
(NewsTarget) No Recovery in Sight
[Bill Bonner] 07/09/09 London, England We have spent the last few days holding back tears...
Michael Jackson! Robert MacNamara!
And now our heart goes out to Nantucket Island. Word came this morning that the rich are not living it up like they used to. The New York Times reports that it's the slowest summer on Nantucket locals have ever seen. There are over 600 properties for sale - and none of them are selling. Even at discounts of up to a third off!...
The Long Road to RuinBy Daily Reckoning, August 29 2009
(NewsTarget) The Long Road to Ruin
[Bill Bonner] 07/08/09 The stock market seems to be rolling over. Investors read the news. It's probably becoming clear to them that the economy is not going back to normal any time soon.
Yesterday, the Dow lost another 131 points. Another big day down and it will be in the
7,000-range. Oil sank too - down to $62. The dollar, bonds, and gold stayed about where
they were.
Economists are still talking about an "exit strategy." But in view of what is actually...
A Period of Creative Destruction By Daily Reckoning, August 29 2009
(NewsTarget) A Period of Creative Destruction
[Bill Bonner] 07/07/09 London, England
And it's one, two, three,
What are we fighting for?
Don't ask me, I don't give a damn,
Next stop is Vietnam;
And it's five, six, seven,
Open up the pearly gates,
Well there ain't no time to wonder why,
Whoopee! We're all gonna die.
- Country Joe & the Fish, "I Feel Like I'm Fixin' To Die Rag"
Robert McNamara must have been in a hurry too. He never had time to wonder why he was sending 500,000...
Pity the Poor RichBy Daily Reckoning, August 29 2009
(NewsTarget) Pity the Poor Rich
[Bill Bonner] 07/06/09 London, England
There is little financial news today; markets in America were closed for the 4th of July weekend.
So, we begin our week with a quote from our favorite philosopher: Yu Faz.
"The rich man's heart breaks...just like the poor man's. For all his money, he cannot buy another one."
Yu should know. He was exiled after he had a liaison amoureuse with one of Genghis' concubines.
Pity poor Yu! Pity the poor rich...! Here...
When Zombies AttackBy Daily Reckoning, August 29 2009
(NewsTarget) When Zombies Attack
[Bill Bonner] 07/03/09 London, England
Big news yesterday:
"Jobs report dashes hopes on recovery," says the International Herald Tribune this morning.
Oh?
Yes, dear reader...once again, we're right and they're wrong!
You'll recall from yesterday, the feds said that their monster stimulus program would hold unemployment below 8% in 2009. The year's not half over and the rate is already 9.5%.
Then, they said the numbers were getting better each...
Depressions Take TimeBy Daily Reckoning, August 29 2009
(NewsTarget) Depressions Take Time
[Bill Bonner] 07/02/09 Paris, France Everything is working out just like we thought it would. The stock market is performing as expected. The economy is on track. Even the politicians are doing what they thought they would.
Let's begin with the stimulus/bailout/boondoggle/BS plan. As anticipated, it has failed. That is, the economy is getting worse, not better. It has failed the test set for it by its own creators. Back when the Obama Team was arguing for...
Stay Out of the WaterBy Daily Reckoning, August 29 2009
(NewsTarget) Stay Out of the Water
[Bill Bonner] 07/03/09 London, England This week began with shrieks of joy.
First, a federal court came down on Bernie Madoff like a brick on a baldhead. Madoff, convicted of lying to investors, drew a sentence that only a sea turtle or a swamp oak could complete. Then, like children playing in the sea, investors were teased by one wave of good news...and tickled by the next.
Bloomberg reported that "Wall Street's largest bond-trading firms say the worst...
How You Can Predict the EconomyBy Peter Ragnar, July 31 2009
(NewsTarget) Ever wonder how you can predict the economy? A simple rule of thumb: if the stock market goes up, you can be pretty sure the government is inflating the money supply. And when they're not, we're in a recession. The danger here is that recessions can quickly become depressions. The only way the government has of preventing another Great Depression is by printing more money. That's not a prediction, but a fact.
When the quantity of money goes up, its value goes down. When the value...
Crumbling Cornerstones of Middle Class WealthBy Daily Reckoning, July 31 2009
(NewsTarget) Crumbling Cornerstones of Middle Class Wealth
[Bill Bonner] 07/01/09 London, England Last night, we went to an awards ceremony for the magazine publishing industry in Britain. Our title, MoneyWeek, had been nominated as "best weekly business magazine."
It was a sparkling affair...with hundreds of attendees dressed in black tie and gowns. There were showgirls too - dressed in a pert '20s style...somewhere between the Great Gatsby and the Ziegfeld Follies. Short, tight dresses with...
Ruined by Good Luck By Daily Reckoning, July 31 2009
(NewsTarget) Ruined by Good Luck
[Bill Bonner] 06/29/09 London, England Not much action in the markets on Friday. The Dow was off 34 points. Oil slipped to $69. Bonds rose a bit. Gold and the dollar remained pretty much where they were.
The thought we kept having this weekend was an old one: that nothing is more dangerous than good luck.
As Bret Harte said, "The only sure thing about luck is that it will change." And it certainly has a way of kicking you in the derriere.
If you're lucky...
The Extraordinary Evil of Bernie MadoffBy Daily Reckoning, July 31 2009
(NewsTarget) The Extraordinary Evil of Bernie Madoff
[Bill Bonner] 06/30/09 London, England Let the punishment fit the crime!
Poor Bernie. The man has been ordered to spend 150 years in the hoosegow. What for? Who did he kill? A century and a half seems a little excessive for a financial crime. You could hold up three liquor stores and rape a whole convent and still not get 150 years. With a little bit of good lawyer-ing, a history of child abuse in the family, and good behavior in the big...
What's the Purpose of a Correction?By Daily Reckoning, July 31 2009
(NewsTarget) What's the Purpose of a Correction?
[Bill Bonner] 06/25/09 London, England The purpose of a man is to love a woman...
And the purpose of a woman is to love a man...
Remember that hit from the '60s?
How about this?
To everything there is a season
And a time for every purpose under Heaven...
That is a line from Ecclesiastes that The Byrds turned into another hit song...
Well, what's the purpose of a correction? It's to destroy the illusions of the previous bubble...
Die Hard IllusionsBy Daily Reckoning, July 31 2009
(NewsTarget) Die Hard Illusions
[Bill Bonner] 06/26/09 London, England This just in...Ben Bernanke and Tim Geithner have rushed to Los Angeles. If they can revive an entire world economy...why not the 'King of Pop?'
Fans are hopeful...but here at The Daily Reckoning we take a discouraging view of these revival efforts. We admire the achievements of science and technology; as for the works of economists and central bankers, well...we'll wait to see how things turn out.
Yesterday, we took...
What Will Replace the Dollar?By Daily Reckoning, July 31 2009
(NewsTarget) What Will Replace the Dollar?
[Bill Bonner] 06/23/09 London, England
If you haven't seen it, there was a "news" item supposedly from Pravda that tells us the United States, Canada and Mexico have secretly planned to introduce a new North American currency, the Amero. Below is the alleged sample of the 50 Amero bill:
Amero to become USA's new currency when dollar collapses? Doubtful.
Will the Amero replace the dollar? Not at all...this myth has already been debunked online...
Now Entering the Political StageBy Daily Reckoning, July 31 2009
(NewsTarget) Now Entering the Political Stage
[Bill Bonner] 06/24/09 London, England "Politics is about what works," someone once said. Perhaps it was Hillary Clinton. Someone said it...someone who is an imbecile.
Politics is not about what works, it's about what you can get away with. And what you can get away with is often exactly what doesn't work at all.
Our beat is money, here at The Daily Reckoning. We specialize in fraud and folderol. We leave the homicide beat to someone else.
What...
Trends in the Post-Bubble EraBy Daily Reckoning, July 31 2009
(NewsTarget) Trends in the Post-Bubble Era
[Bill Bonner] 06/19/09 London, England Let us begin with a chart, which was sent to us by Dr. Eberhardt Unger:
Savings are going up. Spending is going down. That is the fundamental economic trend of the post-Bubble Epoque era.
"Without a genuine return of the tendency of households to consume," says Dr. Unger, taking the words out of our mouth, "there can't be, in the United States, a durable economic recovery. Manufacturing is still in sharp decline...
Deja Vu All Over Again. Once More.By Daily Reckoning, July 31 2009
(NewsTarget) Deja Vu All Over Again. Once More.
[Bill Bonner] 06/19/09 London, England Rarely has The Daily Reckoning been criticized for understating trouble. But trouble keeps getting ahead of us. We can barely keep up with it. So often have we anticipated "disaster" or "catastrophe" that the words now fall like empty shells. We light the fuses; they don't go off. Alas, we have become alarmists with no bell or siren. We break the glass and pull the lever every week, but no sound is heard....
Curing One Financial Disaster With a Worse OneBy Daily Reckoning, July 31 2009
(NewsTarget) Curing One Financial Disaster With a Worse One
[Bill Bonner] 06/15/09 London, England 'Committee to Save the World' Fails Twice!
It was 10 years ago this month that Time magazine gave us the Committee to Save the World:
Looking proud, confident...Alan Greenspan, Robert Rubin and Larry Summers proposed to save the world from the Asian debt crisis... They should have left well enough alone. Because of them, we now have a crisis that is far worse.
But the longer the rally...
The Mental Nature of the Credit CrisisBy Daily Reckoning, July 31 2009
(NewsTarget) The Mental Nature of the Credit Crisis
[Bill Bonner] 06/16/09 London, England Yesterday, the Dow fell 187 points. Oil slipped to $70. The dollar rose to $1.37. And gold lost another $12 - to $928.
The rally may run through the summer; it may not.
Asked about the rally on Wall Street, Barron's latest Roundtable panel had various views about how far and how fast it would take us. But all were sure of one thing: the worst is over. We will not go below the lows set this past March...
The Curious Case of the "Normal Recession"By Daily Reckoning, July 31 2009
(NewsTarget) The Curious Case of the "Normal Recession"
[Bill Bonner] 06/12/09 London, England Nothing much happened in the markets yesterday. Stocks up. Gold up. Oil up. Bonds up. Dollar down.
But listen up...an important announcement:
The bear market/credit crisis/depression is over!
How do we know? Abby Cohen says so. We read this in Bloomberg the other day:
"U.S. financial markets have been moving 'back towards normal' since March, said Abby Joseph Cohen, Goldman Sachs Group Inc...
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