First, there is a real economic phenomenon going on – the depression. It’s alive and well…and doing just fine. Households are de-leveraging. Businesses are building up cash.
February 26th, 2010 | Bill Bonner | 0 comments | ContinuedAll Posts Tagged With: "stimulus program"
What’s the Best Way to Get Through a Debt Crisis?
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 | Continued
Obama Considers New Job Tax Credit
Hey, why not! They had such great success with the Clunker tax credit…and with the first time house buyer tax credit.
October 8th, 2009 | Bill Bonner | 4 comments | Continued
On the Evidence, Stimulus Programs Aren’t Working
For proof, we go to Stimulation Nation itself. From America last week came news that new house sales had finally turned up. They were up 11% in June, according to the papers. That was the monthly figure. According to the annual numbers, they were down 21% from the year before…
August 3rd, 2009 | Bill Bonner | 0 comments | Continued
Things That Matter in the Economy are Going in the Wrong Direction
“Recovery doesn’t depend on investors. It depends on consumers who, after all, are 70 percent of the US economy. And this time consumers got really whacked. Until consumers start spending again, you can forget any recovery, V or U shaped.
July 15th, 2009 | Bill Bonner | 0 comments | Continued
Where, Exactly, is this Economy Headed?
Then, they said the numbers were getting better each month – inevitably leading to a recovery by the end of the year. They predicted a loss of 365,000 jobs in June – considerably fewer than in May. Instead, the figures – even after they had beaten them up – said 467,000 jobs had gone, which was considerably more than May’s figure.
July 6th, 2009 | Bill Bonner | 1 comment | Continued
Jim Cramer Says The Depression is Over
But as far as we can tell, the rally is still underway. The G20 meeting is widely seen as a triumph. The money is flowing. People think we’ve seen the bottom.
April 8th, 2009 | Bill Bonner | 3 comments | Continued
U.S. Recession: Is the End Nigh?
One of the positive indicators, Frank Holmes says, is that the current recession is now 13 months old, whereas the worst recessions since the Great Depression only lasted 16 months (and there were two of them: 1973-75 and 1981-82). Then he quickly defuses the situation by saying, “Just because every recession since the 1930s ended in 16 months or less doesn’t mean this one has to as well”…
February 5th, 2009 | Mogambo Guru | 1 comment | Continued
The Money Multiplier Goes to Work
Giving people who don’t pay a lot in taxes even more money is even more popular. So in that sense, the arrival of thousands of dollars in government cash to various Aussie households will ‘work’ in the sense that it distracts people from the ongoing disaster that is the world financial crisis. “Look honey! Free bread. Let’s go to the circus!” Please note that shuffling a bit of cash around will not lessen a national debt-to-GDP ratio of around 140%. Nor does it do much to create long-term jobs…
February 4th, 2009 | Dan Denning | 18 comments | Continued
The Collapse of Complex Asset Values
In the name of “stimulus” and “recovery” and to supposedly correct the excesses of the market, none of the normal free market mechanisms to punish the excesses are being allowed to function. Instead of acknowledging that markets work in boom/bust cycles of progress, excess, and consolidation, today’s generation of policy leaders want to eliminate cycles to preserve their fictitious wealth and power!…
January 29th, 2009 | Dan Denning | 7 comments | Continued
The Permanent Portfolio
Today’s Daily Reckoning begins with an outsider’s look at the Australian banking sector. Then we’ll take a Prime Ministerial look. And finally, a Gallic technical trader’s look. All three perspectives suggest that Australia’s banking sector is a lot less insulated from the global crisis than its advocates have suggested. But don’t take our word for it…
January 21st, 2009 | Dan Denning | 17 comments | Continued
Ford Chief Doubts a Return to Old Times
“Ford chief doubts a return to old times,” says the Financial Times. This week, the annual Detroit Auto show is underway. America’s automakers are sitting at the wheels of their new electric/hybrid cars…and driving into the future. It used to be said, “What was good for GM was good for America.” Now, what is bad for GM is also bad for America…
January 19th, 2009 | Bill Bonner | 0 comments | Continued
Put Bernie Madoff at the Treasury!
It is a documented fact that neither the present U.S. Secretary of the Treasury – Hank Paulson – nor the incoming man – Tim Geithner – had a clue about what was happening last year. They didn’t seem to understand how America’s system of imperial finance – the system that undergirded expanding world trade – actually worked…
January 14th, 2009 | Bill Bonner | 2 comments | Continued
Obama’s New Stimulus Program
Obama is talking about a new stimulus program of more than $850 billion. The last major stimulus program was $700. So far, only half that money has been skimmed. Read on…
December 22nd, 2008 | Bill Bonner | 1 comment | Continued
