
Themes: Government spending, consumer price levels London, England Monday, 29 June 2009 Not much action in the markets on Friday. The Dow was off 34 points. Oil slipped to $69. Bonds rose a bit. Gold and the dollar remained pretty much where they were. The ...
Monetary Policy
You are on page 1 of 3Rarely has the Daily Reckoning been criticized for understating trouble. But trouble keeps getting ahead of us. We can barely keep up with it. So often have we anticipated ‘disaster’ or ‘catastrophe’ that the words now fall like empty shells. We light the fuses; ...
Trading the news is just too easy these days... Simply take a view on a big economic announcement, say the Budget, and trade the relevant currency, say the pound, accordingly. Last week, traders believed the Budget’s borrowing and debt forecasts would be bad news ...
Paris, France Wednesday, 1 April 2009 Our phone rang yesterday. You know, the Hotline we set up to help Treasury Secretaries and Finance Ministers cope with the problems of the global financial meltdown... We picked it up... it was Tim Geithner! Imagine our ...
Granada, Spain Monday, 30 March 2009 The dollar’s days are numbered. We are beginning to feel sorry for it... as we do all lost causes. Trouble is we don’t know whether it’s a big number or a little number that marks the dollar’s last days. Last week, a decimal ...
Give the sans-culottes a chance... and they’ll turn violent. So far, two bosses have been held hostage in France. Employees wanted something the bosses either couldn’t or would give. In England, the yahoos attacked poor Sir Fred Goodwin’s house. Fred ran the Royal ...
Some time between 624 BC and 547 BC, so history has it, man started using options to make money. In a nutshell, an option gives the buyer the right, but not the obligation, to do something – for instance, the right to buy shares at an agreed price. For that right, ...
Tomorrow’s newspapers will take some reading. They’ll be bigger than normal. And they’ll be thick with column inches about the most important global event of modern times: the inauguration of the first African-American President of the USA. Every last word of his ...
Dear Reader, “We believe the pound is going to fall HARD this year”. That was the warning my colleagues at The Fleet Street Letter issued in November 2007. Back then not many people listened. Why would they? The pound had just reached an eye-popping $2.11 – a ...
The world’s press spoke with one voice over the weekend:
“Now, the hard part...!”
“Obama faces huge challenges…”
“Not an easy time for President-elect...”
And for once... the press is right. It won’t be an easy time for Obama’s team. But the President-elect ...
Monetary Policy
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