June 30, 2012 - Quote of the Day
?Computers crash, and you have to reboot them. That will happen to the global economy,? said Mark Faber, publisher of the Gloom, Boom, and Doom Report.
Entries by DougD
Why Ben Bernanke Hates Me
I don?t just think he hates me. He truly despises me. In fact, he does everything he can to put me out of business. Take next week, for example, when the Federal Reserve Open Market Committee meets, and he will attempt to give my views and me a complete thrashing. I doubt he?ll launch a
Report From Paris
The full force of soaring oil prices really hit home when I arrived in Paris yesterday. As we passed a gas station, I mentioned to the driver that I didn?t know that they sold gas by the gallon in France. He answered that they didn?t. Those were the prices in liters I was seeing. He
July 27, 2012 - Quote of the Day
?Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate,? said Andrew W. Mellon, President Herbert Hoover's Secretary of the Treasury. The Republicans did not win a presidential election for 20 years after that comment.
Apple Just Gave You a Gift
Steve Jobs? creation dropped a real bombshell on the market Tuesday when it announced Q2, 2012 earnings that were rotten to the core. The timing could not have been worse for a market that was on the verge of complete nervous breakdown. Of the 53 brokers who provided research coverage of the Mountain View, California
Report From London, Part III
The city is now the most crowded that it has been at any time since WWII. Most hotels have tripled their rates, forcing traveling students on a budget to sleep in doorways and under bridges everywhere.? My usual abode here, The Naval Officers Club near Piccadilly, honored their regular price since I have been such
My Visit to Obama?s House
During my recent quick run through Chicago, I stopped by Obama?s house on Greenwood Avenue and 50th street in up and coming Hyde Park to say hello. I was thwarted by two concrete crash barriers, 16 cop cars, and army of elderly Chicago police happily pulling overtime. Shifty looking characters wearing long overcoats and sprouting
June 26, 2012 - Quote of the Day
? The modern Olympic Games are orgies of lachrymose nationalism. War by other means, warrior-athletes, watched by men in suits and uniforms?.rogue California chemists running their eye popping, vein-clustered, vest stripping robots against degendered state laboratory freaks,? said author, Ian Sinclair, and outspoken critic of the Olympics.
Farewell to Barton Biggs
It is with a great sense of sorrow that I learned of the passing of industry legend, Barton Biggs. He was 79. I was speaking to him only a few weeks ago when I passed through New York for my strategy seminar, attempting to decipher the medium term trends for these fractious and conflicting markets.
US Earnings Are Headed Down the Drain
Remember the $2 trillion US corporate cash mountain that you have heard so much about? Well, it is finally starting to shrink. Have they started reinvesting profits in America? Are they hiring more people? Did they finally get those tax breaks they were begging for? Have they dramatically increased dividends and share buy backs or