Burning the Economic Toast

Even though I have been drinking so that my speech is slurred after testing some crazy idea that I could drink away my utter horror at the death and dying of the US dollar and economy, history is, on the other hand, being made crystal clear that when a country is so idiotic as to [...]

Burning the Economic Toast originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

Dodging the Rising Cost of Food

I was surprised when Mike Burk of Alpha Investment Management wrote that ?Some of the NYSE breadth indicators look pretty good, but that is from strength in fixed income which makes up about half of the issues traded on the NYSE. Fixed income looks like a bubble.? Well, being an admittedly stupid guy who just [...]

Dodging the Rising Cost of Food originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

Coded Messages to Buy More Gold

Bloomberg.com had the headline ?Bank of Korea ?Under Pressure? to Boost Gold Holdings, Shinhan?s Oh Says,? which was perfectly understandable, although I have no idea what ?Shinhan?s Oh Says? means. I suspect that Shinhan is some guy who just found out that purposely not buying gold is a really stupid idea, and who, upon realization [...]

Coded Messages to Buy More Gold originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

How Gold-As-Money Can Prevent Mob Rule

Ellen Kelleher, writing for The Financial Times, opens her article with how Baird & Co., in their warehouses in London, purify gold by heating it to molten form to make ?medallions, bars, and rings,? which sounds like a lot of heavy, hot, back-breaking, dangerous work to me, as if the word ?work? was not bad [...]

How Gold-As-Money Can Prevent Mob Rule originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

Signs of an Evil Economy

I am standing on the corner of the street, doing my duty to ?give back? to society, in this case by yelling at morons passing by in the cars, ?We?re freaking doomed, you moron! Your own stupid government has destroyed you by letting the foul, fetid, festering Federal Reserve create too much money that they [...]

Signs of an Evil Economy originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

No Secret to Gold Investing. Just Accumulate.

Since I am known as something of a gold bug, a lot of people write to me about gold, but since I am a paranoid lunatic, I don?t read their letters, mostly because I now call myself Marvelous Macho Grande (MMG), figuring that an established alias could potentially come in handy when the prices of [...]

No Secret to Gold Investing. Just Accumulate. originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

Rounding Up the Culprits of Rising Prices

From Bloomberg.com we get the bad news that ?Bank of England Governor Mervyn King said inflation is likely to exceed the UK government?s upper 3% limit in coming months as higher sales taxes drive gains in consumer prices,? which ?rose 3.1% in July from a year earlier after climbing 3.2% in June.? Apparently, he has [...]

Rounding Up the Culprits of Rising Prices originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

Financial Crises Linked to Central Bank Stupidity

It was an interesting psychological phenomenon when I read where Michael Kosares of USAGold.com wrote, ?Private citizen, Alan Greenspan, could afford to be blunt,? but I interpreted it in my Mysterious Mogambo Mind (MMM) to mean, ?Private citizen, Alan Greenspan, should be afforded a blunt instrument applied with extreme prejudice to his stupid head, over [...]

Financial Crises Linked to Central Bank Stupidity originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

Monetary Madness

For some reason, everyone is taken aback because, as James Mackintosh at The Financial Times puts it, ?Stanley Druckenmiller, one of the masters of the investment world, this week announced his retirement saying that he had become frustrated over the past three years with his inability to make outsized returns,? which makes me laugh my [...]

Monetary Madness originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."

Rush Out and Buy Some Gold! Russia is Buying Gold!

I remember the good old days of the Cold War when the Russians were humorless robots who could always manage to catch James Bond, a British secret agent better known by his ?License to Kill? number: 007. But the clumsy, doltish Russians could never hold onto him, and in the process, a lot of Russian [...]

Rush Out and Buy Some Gold! Russia is Buying Gold! originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the...

Wall Street boosted by upbeat economic data (Reuters)

Reuters - Stocks rose on Thursday as better-than-expected jobs and trade gap data improved fragile investor optimism over the economic recovery.

Data shows economic recovery still on track (Reuters)

Reuters - New U.S. claims for unemployment benefits fell more than expected last week to a two-month low, while the trade deficit narrowed sharply in July, hopeful signs for the stuttering economic recovery.

British MPs to grill BP CEO Hayward (Reuters)

Reuters - British Members of Parliament (MPs) will next week grill outgoing BP Plc Chief Executive Tony Hayward, as part of an investigation into risks around deepwater drilling in the North Sea.

McDonald's shares fall on limp sales in France (Reuters)

Reuters - McDonald's Corp reported softer-than-expected August sales in Europe, its biggest revenue market, due to weakness in France, sending its shares down nearly 3 percent.

UK watchdog fines Goldman Sachs $27 million (Reuters)

Reuters - Britain's financial watchdog fined Goldman Sachs Group Inc 17.5 million pounds ($27 million) for failing to tell the regulator that it was the subject of a U.S. probe, reviving disclosure headaches for the Wall Street powerhouse.

Kuwait appoints first stock market regulator (AFP)

AFP - Kuwait has appointed its first independent regulatory body, the Capital Market Authority, to oversee its stock exchange, Commerce Minister Ahmad al-Harun said on Wednesday.

US trade deficit narrows sharply in July (AFP)

AFP - The US trade deficit dropped more than expected in July as exports reached their highest level in two years, official data showed Thursday, boosting hopes for the US economic recovery.

Spartech posts fiscal 3Q loss, misses expectations (AP)

AP - Plastic sheet and packaging maker Spartech Corp. reported a net loss for its fiscal third quarter on Wednesday and said that despite higher revenue, the overall market recover is slower than expected.

Struggling Spain OKs labor market reforms (AP)

AP - Spain gave final approval Thursday to labor market reforms designed to shake up a listless economy and help slash a bloated deficit that has...

FDIC's Bair warns of government "exposure" in mortgages (Reuters)

Reuters - A key U.S. banking regulator raised concern on Wednesday about the risk of "exposure" the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages.