We spend so much time trying to figure out what’s ahead that we forget a simple fact: what’s happening now has its causes in previous actions and decisions. That is a fancy way of saying that maybe it’s a good time to stop prognosticating and take a look back at the origins of the credit crisis. Instead of guessing what each piece of news means, let’s just look at the facts. Fortunately, the Bank for International Settlements has done it for us!
July 8th, 2008 | Dan Denning | 1 comment | ContinuedMarket
Commentary on global share markets 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.
If You Take Out Inflation from the Rise in Prices, Then Prices Did Not Rise? Hahaha
I barged into my boss’s office to tell her, “If you ignored all the stupid mistakes I made, and you forgot all the complaints about me from clients and all the other stupid employees, then I was NOT the worst employee in the whole company! Well, as usual, I get no respect from her, and all she wanted to know is why I am barging into her office in the middle of the afternoon, dressed for playing golf, since I had called in sick this morning?
July 8th, 2008 | Mogambo Guru | 0 comments | Continued
Stock Markets All Over the World are Getting Whacked
It was dumb money that was buying stocks at their all-time peaks. Not only in the United States, but everywhere…
July 8th, 2008 | Bill Bonner | 1 comment | Continued
Central Banker Hotline Still Waiting for its First Call
We have been trying to figure out the queer dynamics of current central banking policy. So far, all we’ve been able to figure out is that it is more perverse and more complicated than we thought.
July 4th, 2008 | Bill Bonner | 1 comment | Continued
Terrorism or Recession
A core problem with government is that its managers believe that all reality will conform to their wishes if they issue the right orders, pass the right laws, and put the right people in charge. Reality resists this simple-minded approach; witness the debacle of the war on terror. Sadly, the same group that has managed that war is now managing another one: the war on recession.
July 4th, 2008 | Lew Rockwell | 1 comment | Continued
Gold and Oil are Acting as Though They Expect Higher Rates of Inflation
Based on the last few days’ trading results, Team Bernanke might as well have kept their mouths shut. Gold and oil are acting as though they expect higher rates of inflation…
July 3rd, 2008 | Bill Bonner | 2 comments | Continued
Commodity Inflation Causes Consumers to Cut Back on Spending
As commodity inflation bubbles over to retail price inflation, consumers cut back. Demand falls. The economy slows. Commodity prices drop.
July 1st, 2008 | Bill Bonner | 1 comment | Continued
Consumer Price Inflation has Spooked Investors Everywhere
Real estate prices are adjusting downward after a record bull market. Inflation just makes the correction worse, since wherever prices end up in nominal terms, they’ll be even lower in real terms…
July 1st, 2008 | Bill Bonner | 3 comments | Continued
The Ghost of ’70s Inflation and the Ghost of ’30s Deflation Will Scare the Living Daylights Out of Us
So, for now, the Fed isn’t fighting inflation at all; it’s fighting another ghost from the past - deflation. You don’t lend money at less than half the level of consumer price inflation if you’re fighting inflation.
June 27th, 2008 | Bill Bonner | 7 comments | Continued
Bubbles… Busts… Bubbles… Busts…
You haven’t seen another bubble in the dotcom industry, have you? That one blew up eight years ago. It hasn’t come back – despite the best efforts of central banks all over the world. And don’t expect another bubble in housing either.
June 25th, 2008 | Bill Bonner | 5 comments | Continued