Wall St sinks as economic alarm escalates
• ReutersInvestors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to its lowest level in eight months in a sell-off triggered by a wave of increasing alarm over the global economic outlook.
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Investors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to its lowest level in eight months in a sell-off triggered by a wave of increasing alarm over the global economic outlook.
Last year, Dan Alpert, described the huge stock market rally that followed the March lows as the "greatest sucker's rally in history." He also produced a fascinating series of news clippings from early 1930, a few months after the historic market cr
In this case, a spendthrift Congress coupled with loose monetary policy at the Fed, effectively encouraged housing and other speculation. The depression we are in now is a result of massively failed policy. The same policy cannot possibly...
The bond market is telling a very important story here and it is one of a deflationary depression. We may not agree with Paul Krugman’s cure of solving a credit collapse by trying to create even more credit, but his diagnosis...
Top flight technician Mary Ann Bartels (BofA/ML) comments on the one-year anniversary of the Golden Cross, and the “Dark Cross” — its evil twin — that is now upon us:
Stabilize public debts by 2016? By then, the US and other major economies will have more government debt than GDP. It is bound to be too late for many of them.
Stocks extended their decline on Tuesday, with the S&P 500 down more than 3 percent, after data showed U.S. consumer confidence plunged in June and on fresh concerns over euro-zone fiscal problems.
Are stocks worth buying today? Rob Bennett says, "No" as the short reply. His longer answer is in today's Investing: The New Rules.
Some random headlines will tell readers about where the U.S. economy is headed--more so than a dozen Joe Bidens preaching the Recovery Summer gospel.
The two primary ingredients for a depression are debt and fear, and the reality is that we have both of them in abundance in the financial world today.
The Conference Board's consumer confidence index for June dropped sharply to 52.9, which is a horrible underperformance of expectations given that consensus had forecast a reading of 62.
Yet another smackdown on MSNBC by the inimitable Rick Santelli of all that is fiat, and its henchmen. "Go read some Austrian economist instead of the funny pages." Santelli tells Liesman, to which the response is "I am ready to talk about Fred Hayek,
Just looked at gold, it plummeted $20 in two days, but today the market is down 2-3% across the boards in little over two hours after opening.
Those Indymac boys were given deal by the FDIC, and borrowers were strong-armed.
The latest from the G20 meeting in Toronto. As you recall, the meeting was billed as a showdown between the Germans and the Americans…that is, between the deficit cutters and the big spenders…
This fiscal year will be a bloodbath for many states and Arizona tops the list of cutters. Arizona -- 35% Cuts FY2011 shortfall: $3.1 billion % of FY2010 budget: 35.3% Previous cuts: $5.1 billion in '10; $3.7 billion in '09
The stock guru's top pupil, baseball star Lenny Dykstra, was secretly paid to plug stocks on TheStreet.com and give access to Cramer, reveals Randall Lane in his new book, The Zeroes.
We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted...
Forty-six states face budget shortfalls that add up to $112 billion for the fiscal year ending next June, according to the Center on Budget and Policy Priorities, a Washington research institution. State spending is 12 percent of U.S. GDP.
There are scores of hard-working well-meaning Americans who base their decisions on what they think is a neutral news source. What they don’t realize is that the Post, as well as most US economists, are merely part of a propaganda machine...
Employment fell in June for the first time this year, reflecting a drop in federal census workers as the decennial population count began to wind down, economists said before a report this week.
So we're stuck with half a trillion dollars of unfunded promises to California's public sector workers, thanks to forecast assumptions so bogus that, rather than merely 'bad' forecasts, they border on being plain lies.
The truth of the matter is that we are nowhere near the recovery agencies like the Federal Reserve told us we were at back in April. Retail sales are falling, the housing market isn't even close to being fully recovered...
When the 13-week annualized rate of change is used – shorter-term momentum – the decline in growth has fallen to a very weak -23.46%. The other times it has fallen this fast? All were either in recession or pointing to recession in short order...
With the public debt due to reach 100 percent of gross domestic product next year — and heading toward record levels — Congress is making the pivot now, much to the distress of liberal economists and the Obama administration. With unemployment sti
It's getting close: the fabled -10% annualized change (see David Rosenberg) which guarantees a recession is now just 3.1% away, which at this rate of collapse will be breached in two weeks. The ECRI is now at December 2007 levels...
You say yes, I say no You say stop and I say go, go, go Oh, no – The Beatles We keep saying the same thing here at The Daily Reckoning. Not because we lack imagination… It’s because things are still the same.
I talk to a lot of people preparing for when TSHTF. The patriot poor have managed so far but supplies are already dwindling. Bottom line: if you got property, now is the time to get your crew together.
If his divorce filing is to be believed, Elon Musk is broke. In recent weeks news surfaced that the near legendary entrepreneur and founder of Tesla Motors, the buzzworthy electric car company that plans a $178 million IPO, had, in his words, "run ou