Today’s episode of the Daily Reckoning begins where yesterday’s left off: why everything may not be fine after all. From housing to Iran, there’s a lot to pick from. But it’s not all about the problems either. At the end of the day, you still have to do something with your money. For every problem, there is some solution, or at least some action to take.
There are many other things in the world that fall into the “not fine” category. Covered bonds and the people spruiking them definitely fall into the “not fine” category. Tomorrow, we’ll take up the issue of why Australia has overinvested in housing and underinvested in refining. Stay tuned.
In the meantime, let’s clear something up. From time to time we get a letter asking us to unequivocally state the Daily Reckoning’s position on issue X. It could be a house price crash. It could be the oil price. It could be anything. It’s always the same question though, “What’s your consistent position on this matter?”
The answer is unequivocal: the Daily Reckoning doesn’t have a consistent position on any matter. Our stock market analysts are free to disagree with one another. We encourage it. We don’t require them to tow the company line. There is no company line.
We recruit and hire stock market analysts who think for themselves and answer only to you. All we require from them is that they have original ideas, do their own research, aren’t lazy, and can string a couple of sentences together. The result, we hope, is a group of analysts with their own ideas, their own forum for explaining and advocating their ideas, and a portfolio of thought-provoking, useful ideas for you to choose from.
Of course we know that some people prefer to be told exactly what to do. Some readers don’t have time to sort out the differences in viewpoints and make up their own mind. That’s understandable. And all of our stock market analysts DO give precise recommendations on what course of action to take in their respective publications so that you can easily see what they’re recommending.
But what we don’t do here in the Daily Reckoning is tell you which of our stock market analysts is right. That would be the equivalent of telling you what to think. And we wouldn’t dream of telling you what to think, either. The mere thought of telling someone else what to think is…almost unthinkable.
If there ARE two unequivocal positions at the Daily Reckoning (and Port Phillip Publishing) it’s that we don’t know who’s right and you should always think for yourself. Life – financial and otherwise – is much more enjoyable when you resolve to make your own decisions based on your own thinking. It’s liberating when you decide you’re not going to be told what to do and think anymore.
Of course it takes time to do your own thinking. And when you make your own decisions, you don’t have any one to blame. You become accountable for your own actions. The alternative is to do what you’re told and be happy with what you get. Faced with those possibilities, it’s not such a tough choice.
for The Daily Reckoning Australia
From the Archives…
An Ice Age For Australian House Prices
2012-02-24 – Greg Canavan
2012-02-23 – Addison Wiggin
Economic Recovery Without Pain
2012-02-22 – Bill Bonner
What the Greek Debt Crisis is Really About
2012-02-21 – Dan Denning
Greek Default Therapy
2012-02-20 – Eric Fry