Barack Obama will be elected Grand Wizard of the Ku Klux Klan before my vote makes any difference in a presidential election…
July 8th, 2008 | Bill Bonner | 5 comments | ContinuedThe Americas
Commentary on American economics, politics and society by your Daily Reckoning editors in Melbourne, Australia. Still haven’t subscribed to the Daily Reckoning? What are you waiting for… sign up here, it’s free!
A chronological listing of articles is below.
Americans are Paying Record Prices for Energy and Food
When the United States got squeezed by high energy prices, Americans decided to squeeze energy out of their own food crops…
July 8th, 2008 | Bill Bonner | 1 comment | Continued
Americans Celebrate Independence Day but Have Never Been More Dependent
Most Americans are enjoying their picnics and fireworks today. But here at The Daily Reckoning headquarters in Europe, we recognize no national holidays and only take a break when we can’t get an Internet signal.
July 7th, 2008 | Bill Bonner | 1 comment | Continued
Debunking Inflation Myths
Gradually, people are becoming aware that we have an inflation problem, which seems to stretch around the world. Perhaps it is time to think about how to resolve it. Certainly a few coy remarks by some Federal Reserve representative aren’t going to be effective.
July 3rd, 2008 | Nathan Lewis | 5 comments | Continued
The Country is Going into a Recession with its Finances in the Worst Shape Ever
As we keep saying, democracy is fine, as long as you don’t take it seriously. The candidates for the White House job are eager to show voters that they are patriotic, religious and right-thinking men…
July 3rd, 2008 | Bill Bonner | 3 comments | Continued
Fed Vice Donald Kohn Urges Emerging Markets to Drop the Dollar Peg
Fed Vice Chairman Donald Kohn said the world would be a lot better if emerging markets simply dropped their dollar pegs. This means they would stop importing U.S. inflation by matching the Fed rate cut for rate cut. In a speech earlier this week Kohn said, “In those countries where strong commodity demands are associated with rapid growth in aggregate demand that outstrips potential supply, actions to…
July 2nd, 2008 | Dan Denning | 6 comments | Continued
Feds’ Attempt to Bail Out Consumers with Tax Rebates
You’ll remember our explanation of the world money system. The Fed is no longer America’s central bank. Now, it’s the world’s central bank. But it’s a funny old world.
July 2nd, 2008 | Bill Bonner | 1 comment | Continued
The U.S. Federal Reserve’s Inflationary Feast
I could see that the audience of reporters and passersby was getting nervous, as I had just finished going through the explanation of how the U.S. Federal Reserve creates inflation in the money supply by creating too much money and credit, which causes inflation in things as all of this money enters the economy, and then eventually the inflations in stocks, bonds, houses and the size of government becomes so great that further infusions of money must increase in proportion to…
July 1st, 2008 | Mogambo Guru | 3 comments | Continued
Price of Oil has Gone Up 40% and 75% of Americans Blame George W. Bush
We hate to kick a man when he’s down. But we like kicking George W. Bush so much, we’ll make an exception. Better yet, we’ll prop him up…just so we can have the pleasure of kicking him down again.
June 30th, 2008 | Bill Bonner | 0 comments | Continued
Dow Jones Has Worst June Since Great Depression, American Model in Decline
The Dow Jones Industrials has had its worst June since the Great Depression. The index is down 9.4% this month, although that is not as bad as June 1930, when it fell 18%. The Dow is only 30 major companies. But in two important ways it shows that the U.S. model for prosperity over the last 50 years is in big trouble. While this certainly affects Australia, it is not entirely bad news. The first blow is the decline of GM.
June 27th, 2008 | Dan Denning | 3 comments | Continued