For at least a thousand years, the business cycle went round and round without help from central bankers or economists. It is only since these geniuses have been on the case that really serious problems have arisen.
November 2nd, 2009 | Bill Bonner | 4 comments | ContinuedAll Posts Tagged With: "capitalism"
Economic Cycle Theory
We began the week wondering about the cycles of history and markets. We wondered whether Australia is following the Anglo-American cycle into a long-winter…where people lose confidence in each other, in government, and in the institutions they relied on in the past for law and order, employment, and prosperity.
October 15th, 2009 | Dan Denning | 29 comments | Continued
Americans Aren’t Borrowing Or Buying
This is the story we’ve been telling here at The Daily Reckoning for two years. Americans have to cut back. They are out of time and out of money.
October 13th, 2009 | Bill Bonner | 1 comment | Continued
Michael Moore Kills Capitalism with Kool-Aid
Capitalism: A Love Story…is Michael Moore’s ultimate quest to answer the question he’s posed throughout his illustrious filmmaking career: Who are we and why do we behave the way that we do?
September 25th, 2009 | Michael Covel | 15 comments | Continued
What’s a Consumer Economy Need in Order to Keep Growing?
“US consumers are cutting back, and where they are not cutting back, they are scaling down. This new cycle is all about ‘getting small’ and it is deflationary.
September 23rd, 2009 | Bill Bonner | 1 comment | Continued
Capitalism is Inherently Unstable
“‘Minsky’ was shorthand for Hyman Minsky, a hitherto obscure macroeconomist who died over a decade ago. Many economists had never heard of him when the crisis struck, and he remains a shadowy figure in the profession.
September 18th, 2009 | Bill Bonner | 21 comments | Continued
Gold and its Poorly Understood Historic Role in the Financial System
The burden of today’s Daily Reckoning , then, is to remind these nattering nabobs of negativism that gold is not anyone else’s debt. It is not anyone else’s liability. It cannot be created with a few keystrokes. And for thousands of years, millions of people from all walks of life have been happy to use it as money because of its unique features…
September 15th, 2009 | Dan Denning | 15 comments | Continued
The Banks Should Hold More Capital
The US system of capitalism has become a system where the capitalists have no capital. The big banks have too little in savings…not enough ‘buffers’ to protect them from unexpected crises. They made a fortune during the boom years…
September 7th, 2009 | Bill Bonner | 0 comments | Continued
Does Bernanke Really Not Understand His Fate?
Mr. Bernanke defended himself and the Fed against suggestions that he was too eager to aid large financial institutions last fall and winter, while sacrificing the interests of small businesses and everyday American citizens.
July 31st, 2009 | Byron King | 13 comments | Continued
The Profits Depression
And after we consider the impact of the credit boom on S&P 500 earnings we’d say that corporate earnings are never going to be the same again. They may revert to the mean. But it will not be nearly as high as it was at the highs of the credit boom. It’s undeniable that the expansion of the credit bubble and the advent of securitisation and derivatives led to…
July 28th, 2009 | Dan Denning | 13 comments | Continued