The Daily Reckoning started out in 1999 as a personal letter from Bill Bonner to his readers. Today, even though we now have almost a million readers worldwide, it’s kept that personal touch. In this column Bill shares the trials and tribulations of living as an expat and global traveller in London, Paris, Buenos Aires and well, pretty much everywhere. 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.
“Poor America…” writes a French friend. “It’s not the land of the free anymore. Now, it’s the land of slaves.”
The FATCA law (Foreign Account Tax Compliance Act) will force banks across the globe to collaborate with the IRS. Here’s an explanation of the huge repercussions this legal precedent will have on banks and banking clients…
December 20th, 2011 | Bill Bonner | 6 comments | Continued
What’s new in the world of economic growth and recovery?
When we signed off last week, the Germans and the French were trying to hold Europe together. This morning, they are still trying.
December 13th, 2011 | Bill Bonner | 1 comment | Continued
You’ll recall that two days ago we introduced our new theory of government. Of course, we are not entirely serious. And not entirely unserious either.
But it hardly rises to the level of a theory. It is more like an insight about how government control is governed by insiders:
December 12th, 2011 | Bill Bonner | 2 comments | Continued
Figures from Credit Suisse’s World Wealth Report show that the typical American is a lot poorer than generally believed. The report compares average wealth to the median wealth.
December 8th, 2011 | Bill Bonner | 6 comments | Continued
Our new friend mentioned the I-70 bio-tech corridor from Washington, DC to Gaithersburg and Frederick, Maryland. It is a center of the “bio- tech” industry — very near the source of its funding, regulators, and market, in Bethesda.
December 6th, 2011 | Bill Bonner | 0 comments | Continued
The growth of the last 30 years came from the government spending money we didn’t have. In Europe, the government spent it. In America, households spent it. In Britain, both spent it.
December 6th, 2011 | Bill Bonner | 0 comments | Continued
Nothing much happened in the markets yesterday. Which is a good thing. We’re too exhausted to reckon with it.
We went to a funeral yesterday. Dead people wear us out. They are like debt. They don’t just go to their graves and disappear. There’s always more to the story. They leave debts…accounts with the living that must be settled.
December 1st, 2011 | Bill Bonner | 1 comment | Continued
It doesn’t matter what you say…too much debt is too much debt. And someone will have to pay for it.
All of the crisis and hoopla of the last 4 years has been just an attempt to avoid facing up to reality. Christmas comes but once a year…but investors have looked under the tree every day…hoping Santa paid an un-announced visit.
November 30th, 2011 | Bill Bonner | 3 comments | Continued
Here’s what happens in our Alphabet Soup Economy:
Plan A doesn’t work…neither does Plan Z.
Last week ended with a whimper and a bang. Stock markets whimpered. Investors didn’t know what to think. And nothing happened last week to help them figure it out.
November 29th, 2011 | Bill Bonner | 0 comments | Continued
What did you give thanks for, Dear Reader?
Our thoughts turned to house, hearth, family, friends…
…and to rich people.
Yes, dear reader, we gave thanks for the wretched 1% of the population that has made such spectacular financial progress over the last 10 to 20 years.
November 28th, 2011 | Bill Bonner | 1 comment | Continued
The failure of the German bond auction earlier this week was the latest shock. It tells us that pressure on the European Central Bank (ECB) is mounting.
It’s one thing when Greece and even Italy can’t finance their debt. Who cares? But it must surely get German bankers’ attention when nobody wants to buy their bonds.
November 25th, 2011 | Bill Bonner | 1 comment | Continued
As the economy is taken over by zombies, more and more people are needed to do the zombies work shifting more and more of the economy’s output to the insiders.
The insiders rig the system for their own benefit. The rigs each one of them a form of price-fixing or central planning weaken the system. In today’s battle, the insiders fight to protect it.
November 24th, 2011 | Bill Bonner | 1 comment | Continued
The situation is simple. The feds are spending too much. Every half- wit and democrat can see that they can’t go on like this.
But they couldn’t agree on how to cut back. So, they ducked. They put the matter to a “super-committee.”
November 23rd, 2011 | Bill Bonner | 0 comments | Continued
Yes, dear reader, it’s quite a fight. Better than Frazier vs. Ali. And who’s gonna win? Europe faces its “toughest hour since WWII,” says Angela Merkel. What does she propose? More centralization. Centralization got Europe into this mess — harmonizing interest rates so that the Greeks and Italians could borrow more. And now, more centralization, she believes, will get it out.
November 16th, 2011 | Bill Bonner | 6 comments | Continued
What happened on Friday? A “moment of truth” arrived for Europe. But what is the truth? We’ll have to wait to find out. The Dow rose 259 points. Gold was up $28. But who cares? Up, down…up, down… Every day brings more ‘truth.’ But what we want is a truth with legs. We’re not day traders. Not week traders. Not even year traders. We want a long, sure…mega trend. We want the Dow at 900 in 1983. Or gold at 260 in 1998.
November 15th, 2011 | Bill Bonner | 8 comments | Continued
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| All Ordinaries | 4359.400 | ||
| S&p/asx 200 | 4285.100 | ||
| China Shanghai Co | 2351.854 | ||
| Gold Sep 11 | 0.00 | ||
| Clj11.nym | 0.00 | ||
| Nikkei 225 | 8999.18 | ||
| Indu | 0.00 | ||
| S&P 500 | 1349.83 | ||
| Ftse 100 | 5904.98 |
