Today is Monday, May 21st, 2012
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.
Happy New Year!
Normal Reckonings resume Tuesday, January 3rd. To tide you over, we’re continuing a tradition we started last year. We reflect on some of the more colourful predictions of 2011. What follows is a selection of musings from Dan Denning, Bill Bonner and the DR team.
January 1st, 2012 | Dan Denning | 0 comments | Continued
Australia has plenty of: resources. Of course you knew that already. But what you may not have known is that Australia’s government is devising plans on how to protect Australia’s natural resources from a hostile takeover. Presumably from countries like… China. And we’re not talking about share market action.
December 20th, 2011 | Dan Denning | 2 comments | Continued
The latest news out of Europe is that British Prime Minister Churchill Cameron refused to surrender sovereignty to the rest of the EU. Those on the continent have tied themselves to the Euro like tree huggers saving the forest.
The Raw Materials of Civilisation…
Before we get stuck into the glaring omission in the government’s assessment of Australia’s energy resources – energy could be the single-best investment sector of 2012 – a reminder: today is Wednesday. You know what that means!
December 14th, 2011 | Dan Denning | 5 comments | Continued
There are no more risk-free liquid assets in the market. Maybe there never were. But it’s one of those sacred cows that has never been gored before. It is now (gored, in painfully slow fashion). The dirty little secret of the bankrupt Welfare State is out: government bonds are just another liability.
December 13th, 2011 | Dan Denning | 4 comments | Continued
What stock investment decisions should you make when you recognise: government debt is no longer risk free, bank failures resulting from bond defaults by governments will feed asset deflation and lower stock prices and real money is better than unsound money.
December 12th, 2011 | Dan Denning | 0 comments | Continued
Basic economics of scarcity, supply and demand, and investment demand won’t be less important in supporting commodities. But in a world of collapsing financial asset values, tangible assets are about to become the hotly contested objects of a great global strategic game.
December 9th, 2011 | Dan Denning | 1 comment | Continued
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
| All Ordinaries | 4124.400 | ||
| S&p/asx 200 | 4073.600 | ||
| China Shanghai Co | 2348.30 | ||
| Gold Sep 11 | 0.00 | ||
| Clj11.nym | 0.00 | ||
| Nikkei 225 | 8633.89 | ||
| Indu | 0.00 | ||
| S&P 500 | 1295.22 | ||
| Ftse 100 | 5299.47 |