Business The Daily Reckoning

  • On the prowl for insight into economists

    The folks over at The Daily Reckoning are on a mission. Their treasure? Insight. Insight into why it is that the smartest economists in the world are so stupid. Incidentally, they hope to understand why the GDP is such a fraudulent measure of prosperity

  • A crisis veiled in public spectacle

    Over the course of three odd decades, billions of dollars were lent to people who shouldn’t have been allowed to borrow lunch money. And now, there are losses in the trillions. The real question is, will the market finally be allowed to correct itself?

  • Did the Feds rig the system?

    Bill Bonner and the analysts over at The Daily Reckoning are feeling fairly vindicated this week. They have been investigating how the federal government may have rigged the system over the past 30 years, directing funds to help the rich get richer.

October 25, 2014

Photos of the weekend

Competitors participate in the Tough Mudder challenge near Winchester in southern England Saturday.

More The Daily Reckoning
  • Did the Feds rig the system?

    Bill Bonner and the analysts over at The Daily Reckoning are feeling fairly vindicated this week. They have been investigating how the federal government may have rigged the system over the past 30 years, directing funds to help the rich get richer.

  • How to 'contain the depression?' More credit, economists claim

    Bill Bonner is not too pleased with economists right now. In his latest post he claims that as a result of their conceits and delusions, trillions of dollars have been clipped from the world’s GDP, billions of people are poorer and their lives shorter.

  • When governments spend wealth, instead of building it

    There are times when governments need to build tanks. An economist can’t tell the difference between a Tiger tank and a BMW. But a passenger can. It doesn’t take him long to realize that a tank is no way to travel.

  • The biggest fraud in economics is ... economics?

    What’s the point of having an economy, asks Bill Bonner? It makes no sense to waste trillions of dollars’ worth of resources just to “protect the economy,” he says. The whole point of an economy is to create more stuff, not to waste it.

  • C'est la vie: French emphasize food, gossip over economics, war

    So who's right? The French seem preoccupied with the mistresses of their new chief, and the details of their last meal. Meanwhile back in America, President Barack Obama is happily married, but taking flak for his economic and foreign policies.

  • Are ready for this? Time for round two of the Fed's stimulus plan

    Markets soar when the Fed hints at more money, and crash when it hints that it will sit still. When you operate with an elastic currency, and expand credit 50 times in 50 years, Bill Bonner warns, don't be surprised when the market inevitably falls over.

  • Washington elites talk the new 'US empire'

    A Washington garden party serves as a think tank hothouse, providing the Daily Reckoning with some interesting insights into the current US situation. Representing a variety of backgrounds, the group was united by a hatred of the US "empire."

  • Phony growth, or phony austerity? Pick your poison.

    Europe’s austerity policies nor America’s growth policies have worked. In Europe, governments collectively spent 44.8% of GDP in 2000. Today it is 49.2%. That’s not austerity, that’s stimulus, according to Bill Bonner.

  • The disconnect between household wealth and GDP growth

    Americans' wealth has shrunk so much that, in 2010, median family net worth was no more than it had been in 1992 after adjusting. According to the Fed's report, two decades of accumulated prosperity had vanished, mainly due to falling home prices.

  • Cybergeddon: Did US help develop dangerous new computer virus?

    Bonner takes on "zombies" in the social security system, health care and now the Department of Defense. A new computer virus, allegedly developed by the US and Israel, has him worried about what might happen if it falls into the wrong hands.

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