Commentary on global resources such as oil, food and energy, 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.
The world’s best economy, with the world’s best banks, run by the world’s best treasurer, just posted a world-beating economic growth rate of 1 per cent for the three months to September. The Australian economy is, apparently, on fire, growing at an annual rate of nearly 5 per cent over the past six months.
This raises a few questions…
December 8th, 2011 | Greg Canavan | 2 comments | Continued
The Aussie market is still tightly correlated to the US market. This, we suspect, is because global asset prices are keyed off of the global supply of credit. If we’re in a credit depression, US stocks will stagnate. Aussie stocks will track that stagnation.
December 6th, 2011 | Dan Denning | 1 comment | Continued
We resolved not to be depressing today. And in truth despite the growing global debt problem – we’re not, for two reasons…
November 29th, 2011 | Dan Denning | 1 comment | Continued
Europe isn’t a huge customer of raw commodities. But China is Europe’s largest trading partner. So there is a knock-on effect…somewhere down the line.
November 29th, 2011 | Dan Denning | 0 comments | Continued
Excellent. Australia has a brand new mining tax just in time for a huge correction in commodities. Yesterday we mentioned the probability that the bond crisis in Europe was inherently deflationary. Europe’s debt reckoning will result in massive deleveraging in the financial system. And the last time that happened, a lot of long-term speculative bets on commodities were liquidated.
November 23rd, 2011 | Dan Denning | 1 comment | Continued
Yes, the Great Correction proceeds. Low levels of consumer spending, high unemployment, with periodic bankruptcies, blow-ups and financial crises.
November 17th, 2011 | Bill Bonner | 0 comments | Continued
You know that saying, “If you don’t have anything nice to say, don’t say anything at all”?
We’ll now turn today’s Daily Reckoning over to Slipstream Trader Murray Dawes. Remember, yesterday’s DR included a chart showing the price of Brent Crude oil. Murray generally applies his theory of price action to stocks and indexes. But it can be useful for currencies and commodities, too.
November 9th, 2011 | Dan Denning | 5 comments | Continued
The day fast approaches when Greece will ditch the euro, default on its debt, and leave Europe to deal with Italy and Spain. And the fall of the European centrists is nigh. But before we get to that, we want to begin another week of reckoning with a practical investment observation about energy.
November 7th, 2011 | Dan Denning | 4 comments | Continued
The Dow rose 208 points yesterday. Hardly a day goes by without a 100+ point move. We’d be disappointed with anything less. What these extreme moves are telling us is that investors are very uncertain. They know there’s a lot at stake. And they don’t know which way it will go.
November 7th, 2011 | Bill Bonner | 0 comments | Continued
Green and Gold Greed…
The last thing Australia needs right now is to worry that China’s manufacturing economy is sputtering. After all, that Chinese engine of growth consumes huge amounts of Australian resources, like coal and iron ore. The government is keen to siphon off revenue from mineral and energy exports in order to do what it does: take from one party in order to give to another, while sounding self-righteous and looking important.
November 2nd, 2011 | Dan Denning | 5 comments | Continued
–Is the great crisis of capitalism over yet? Well no. It’s not. And come to think of it, it’s not really a crisis of capitalism either. It can’t be. Why? Because a system where Big Business and Big Government make a Big Mess is not capitalism. It’s something else entirely.
–We’ll get back to the Financial Big Bang in a moment. But the week starts off with mixed signals from foreign markets. The non-farm US jobs report came out on Friday, and it was good.
The news was good yesterday. Investors heard that Europe had its problems under control. Then, Obama told them that he was going to give the economy a jolt.Investors breathed a little easier. The feds were on the case. The Dow rose 183 points. Meanwhile, bonds went down, with the yield on the 10-year note rising to almost 2%.
October 10th, 2011 | Bill Bonner | 4 comments | Continued
Blood ran in the streets again yesterday. The Dow fell another 258 points. A few more days like that and the index will be below 10,000.That ought to make an impression. Among other things, it should help people realize that there has been no recovery…not even a weak one.
October 5th, 2011 | Bill Bonner | 5 comments | Continued
Have we told you where we think the US and other developed countries are headed? No? Well, things won’t necessarily be so bad. In a few words: the lust for MORE will become a lust for BETTER.Yes, the age of easy growth is over. You probably won’t make any money buying stocks.
October 4th, 2011 | Bill Bonner | 10 comments | Continued
What keeps this world economy turning around? Not the US. America’s private sector isn’t spinning at all. It’s stuck…dead in the water…out of gas…pumped out…GDP growth is reported at 1%. But that’s almost all government transfer payments and stimulus deficits. Real growth is negative.
September 20th, 2011 | Bill Bonner | 2 comments | Continued
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| All Ordinaries | 4318.900 | ||
| S&p/asx 200 | 4242.800 | ||
| China Shanghai Co | 2344.771 | ||
| Gold Sep 11 | 0.00 | ||
| Clj11.nym | 0.00 | ||
| Nikkei 225 | 9052.07 | ||
| Indu | 0.00 | ||
| S&P 500 | 1351.77 | ||
| Ftse 100 | 5895.34 |
