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Collapse Gives WAY TO A Rally

Well that’s a good sign. Not twelve hours after we went to press with our latest newsletter – highlighting how September is historically the market’s worst month – and describing a Long Depression, stocks in New York rally by almost three percent. How is that good sign? The Bear had everyone feeling pretty bearish about him. You can measure this in the number of put option buyers or in surveys.

Dan Denning | September 2nd, 2010 | Continued

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Time for Bouncy Bouncy

Before we get stuck into today’s financial world, a request: please don’t store petrol in your garage. A reader took us to task for suggesting that last week in our survivalists “to own” list. It was just a list. But her point is well taken. Petrol doesn’t keep well. And you may need it later to burn all your paper money and furniture to keep warm. So store it somewhere safe, if you’re going to store it at all.

Dan Denning | September 1st, 2010 | Continued

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Hindenburg Meets Iceberg

Another week in Australia without a new government. Not bad for a Monday. The current Prime Minister is set to meet with three so-called independent members of Parliament to discuss forming a minority government. This gives us a chance to correct an error we made awhile back.”Every election is a sort of advance auction sale of stolen goods,” wrote HL Mencken. We misattributed that quote to Mark Twain, another great American wit.

Dan Denning | August 30th, 2010 | Continued

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Seasons Don’t Fear the Reaper

People tend to overestimate what they think they know and underestimate what they don’t know. It’s best to be modest, work hard, and recognise that sometimes what you get in life is neither what you expect nor what you deserve. But let’s talk about markets and cycles first today before we get on the crazy train. And since yesterday was all about words (even though words can change worlds), let’s look at some pictures.

Dan Denning | August 27th, 2010 | Continued

About this Site

The Daily Reckoning offers an independent and critical perspective on the Australian and global investment markets. We do not propose to tell you what the news is. You can find that out anywhere for free.

Recent Articles

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No Secret to Gold Investing. Just Accumulate.

Since I am known as something of a gold bug, a lot of people write to me about gold, but since I am a paranoid lunatic, I don’t read their letters, mostly because I now call myself Marvelous Macho Grande (MMG), figuring that an established alias could potentially come in handy when the prices of gold, silver and oil…

2Sep2010 | Mogambo Guru | 0 comments | Continued
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Misguided Gratitude for Government Stimulus

In New York, markets enjoyed some brief respite from the blizzard of weak data as reports on the US housing market and consumer confidence proved better than feared. The Conference Board’s index of consumer confidence climbed to 53.5 last month from 51 in July…

2Sep2010 | Bill Bonner | 0 comments | Continued
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The Best Way to Bet on America

There is lots of ugly economic news out there, but one key bright spot is world trade. In the US, one particular industry will enjoy windfall profits from exports this year. That industry is agriculture. In 2009, world trade took a big hit in the wake of the financial crisis. Global exports fell 12%.

1Sep2010 | Chris Mayer | 47 comments | Continued
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Healthy Correction or Ailing Recovery?

You’ll recall that when we left off last week, Ben Bernanke assured the world that while the recovery was not exactly what he had hoped for, he nevertheless had the situation in hand. He said he had the tools necessary to fix the problem and would do whatever was required.

1Sep2010 | Bill Bonner | 2 comments | Continued
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Big Double Dipper

The US markets fell 1.5% last night after rallying a similar amount the previous session. This is a clear indicator of a market in trouble. The market rejoiced on Friday night after the US GDP figures came in at a better than expected 1.6%. The market ignored the fact that the expectations for the figure had to be ratcheted down twice…

31Aug2010 | Murray Dawes | 0 comments | Continued
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The Summer the Recovery Went Missing

THE American economy is once again tilting toward danger. Despite an aggressive regimen of treatments from the conventional to the exotic – more than $800 billion in federal spending, and trillions of dollars worth of credit from the Federal Reserve – fears of a second recession are growing…

31Aug2010 | Bill Bonner | 0 comments | Continued
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Zen and the Art of Economy Repair

According to an article that appeared in The New York Times, written by Norihiro Kato, the Japanese have gotten good at sloughing off their worldly cares. Japan is no longer the world’s number two economy; it was eclipsed this summer by China. But the Japanese are used to slippage.

30Aug2010 | Bill Bonner | 2 comments | Continued
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