Reports

Dear Reader, Whenever despair slumps our shoulders and the sorrows of the world gnaw our liver… we can rely on CNBC to bring us up: “Latest Data Show the Economy Ended 2019 on a Strong Note, Putting Recession Fears to Bed.” Thus we are caressed, soothed, cheered, lifted. And mortified. ...

Over the past century, monetary systems change about every 30 to 40 years on average. Before 1914, the global monetary system was based on the classical gold standard. Then in 1945, a new monetary system emerged at Bretton Woods. I was at Bretton Woods this past summer to commemorate its ...

Dear Reader, Stocks ran red this morning… stained crimson by the blood of Iranian Gen. Qassim Soleimani. A Reaper drone of the United States Air Force sent this hellcat over the rainbow early Friday. The late departed was no second-rater, no minion. Explains Matthew Hoh of the Center for International ...

Dear Reader, Yesterday we snuck into the future… and smuggled out a worrisome vision: The S&P will end the decade 50–60% lower than where it began the decade. Our snooping revealed that “mean reversion” will run down the elusive stock market at last. That is, the long arm of statistical ...

Editor’s note: America’s no.1 futurist George Gilder, fears the U.S. has lost its technological and entrepreneurial edge. China has instead emerged as the next global technological leader. Today Mr. Gilder defends a controversial Chinese company against accusations by The Wall Street Journal, and shows you why the U.S. is in ...

The big news this week was that the House of Representatives impeached President Trump for abuse of power and obstruction of Congress. Trump now joins Andrew Johnson and Bill Clinton as the only U.S. presidents to be impeached (Nixon resigned before he could be impeached). Now it goes to the ...

Twenty years… Twenty years have lapsed since The Daily Reckoning first jumped from the presses. Thursday night we attended a black tie affair in honor of this, its china anniversary. Our hosts were Daily Reckoning co-founders Messieurs Bill Bonner and Addison Wiggin (here pictured, both bespectacled): Your humble editor even ...

What caused the overnight lending market to unexpectedly seize up in September? There’s a good reason to believe JPMorgan Chase (JPMC) may have been at the heart of it. JPMorgan Chase is the largest bank in the U. S., and has about $1.49 trillion in deposits. It’s one of the ...

Herbert Stein, a prominent economist and adviser to presidents Richard Nixon and Gerald Ford, once remarked, “If something cannot go on forever, it will stop.” The fact that his remark is obvious makes it no less profound. Simple denial or wishful thinking tends to dominate economic debate. Stein’s remark is ...

Yesterday we likened the economy to an overswollen tick, obese with blood. Rather than blood, the economy is obese with debt. Like our ludicrously engorged arachnid, the economy cannot much expand. It is impossibly loaded down… and groans under the burden, horribly swaybacked. The economy will continue to wallow — ...