Today, the market is up nearly 100 points (at the time of writing). Who would have thought Greek Referendum could have such an influence on the Aussie market?
But as we’ve said many times before, such market volatility is not a sign of strength – it’s a sign of extreme fragility.
November 4th, 2011 | Greg Canavan | 8 comments | Continued
“Monetary warfare!” says The Financial Times. In North America, the US is pointing its heavy guns at China… The US Congress has proposed a bill naming China as a “currency manipulator.” How, exactly, is China manipulating the renminbi? It is holding steadfast to the dollar!
October 4th, 2010 | Bill Bonner | 0 comments | Continued
Dow…3 ounces! Our old friend Ronan McMahon has been keeping us up to date. Ireland is going broke, he says. The Irish foolishly borrowed too much money during the boom years. The banks foolishly lent too much money. And then the government foolishly said it would bail them out…
October 4th, 2010 | Bill Bonner | 2 comments | Continued
What if the final stage of the bull market in gold has already begun? What if investors and speculators begin to panic out of the dollar now? What if they sell the rumor of quantitative easing…rather than wait for the real thing? What if they drive the price of gold up to the moon…
October 1st, 2010 | Bill Bonner | 1 comment | Continued
Epithet for a doomed economy…What will they say? How will they describe the ’00s and ’10s? Irish Prime Minister Brian Cowen was accused of being drunk when he gave a “croaky” radio interview two weeks ago. He denied it. But we’d be tempted to turn to the bottle too…
September 30th, 2010 | Bill Bonner | 0 comments | Continued
April seems like such a long time ago. What were investors thinking then? As you can see from the chart below, April was the last time the ASX/200 traded near the 5,000 level. The index is nowhere near the 2008 high (as you can see). But maybe it’s getting ready to make a run to 5,000 by the end of the year.
September 29th, 2010 | Dan Denning | 3 comments | Continued
So far, almost everything that we thought ought to happen is happening. More or less. The crisis. The feds’ reaction. The market’s lack of reaction to the feds’ over reaction. Then, the feds’ reaction to the markets failure to react. One dumb thing begets another.
September 29th, 2010 | Bill Bonner | 0 comments | Continued
Today’s Daily Reckoning will be a bit of a cautious and casual affair. Jet lag is supposed to have the same effect on the human body as drinking three beers. We’re opposed to drinking and reckoning. So today’s task is to survey the territory and compare it to what we thought about while out of the country for two weeks. The first obvious sign, when converting the currency, is that it now takes 96 U.S. cents to buy one Australian dollar.
September 27th, 2010 | Dan Denning | 20 comments | Continued
We’ve made this point before, but we’ll make it again. Today’s modern financial system depends critically on continued debt growth to stop asset prices from collapsing. In modern economies dominated by governments and their agents, central banks, money is debt and debt is money.
September 24th, 2010 | Greg Canavan | 43 comments | Continued
Another day, another elegantly crafted article assuring you that the central planners have it all under control. This time it’s Ian Verrender at Business Day explaining how central banks can now save our economy from another 2008 style crash. (The one they caused.) He concludes it won’t work…
September 24th, 2010 | Nickolai Hubble | 0 comments | Continued
Officially, the recession is behind us. That’s the good news. Officially, it ended in June of ’09. The bad news is – so what? Recession or no recession, people are having a hard time finding jobs and making ends meet. The US economy continues rumbling and trundling along.
September 24th, 2010 | Bill Bonner | 0 comments | Continued
This discussion about Emerging Markets is essentially one of analyzing the risks you wish to take and the ones you don’t. If you were a young, heterosexual male, for example, you might be willing to risk missing a new episode of The Simpsons to risk going on a date with Megan Fox.
September 23rd, 2010 | Eric J. Fry | 0 comments | Continued
The newly-declared end-date to the recession also confirms what many had suspected: The 2007-9 recession was the deepest on record since the Great Depression, at least in terms of job losses. From December 2007 to June 2009…
September 23rd, 2010 | Bill Bonner | 0 comments | Continued
If you’re going to be invested in a single metal this decade, my advice is to back copper. Specifically – companies that are sitting on long-life, high-quality copper resources. He dropped out of the spot light for a while there, but ‘Doctor Copper’ is making some big moves again.
September 22nd, 2010 | Dr. Alex Cowie | 7 comments | Continued
I’ve spent a lot of time this week sitting around reading odd stuff and mulling over clues. I did find some clues in the bond market that tell us where the stock market may go next. You’ll be surprised at what these clues say. They come from a look back at history.
September 22nd, 2010 | Chris Mayer | 0 comments | Continued
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| All Ordinaries | 4322.600 | ||
| S&p/asx 200 | 4245.300 | ||
| Sse Composite Ind | 2351.981 | ||
| Gold Sep 11 | 0.00 | ||
| Clj11.nym | 0.00 | ||
| Nikkei 225 | 8947.17 | ||
| Indu | 0.00 | ||
| S&P 500 | 1342.64 | ||
| Ftse 100 | 5852.39 |
