Monty Pelerin's World

Economic, Financial and Political Analysis

Tag archives for daily reckoning

The Broken Window Fallacy

The “Broken Window” fallacy was exposed by Frederic Bastiat over 150 years ago. It never fails to reappear every time there is a natural disaster. The fallacy is a marker of intellectual IQ. Those who commit the fallacy should not have any credibility, especially with regard to economics. Bastiat explained how those who saw a [...]

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Musings On Government

On the Uses of Government By Bill Bonner 12/13/11 Baltimore, Maryland – “The Divine Right of Kings” was a theory of government that held water. But you had to put the water in the right container. You had to believe in God. You had to believe that He gave out job assignments. You also had to believe that [...]

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Gold and Dow Moving to Equality?

Bill Bonner at The Daily Reckoning wrote this before today’s $100+ drop in the price of gold. Interestingly, he also thought gold might go down, perhaps for some period. Is he discouraged? Hardly, he believes it would be crazy to divest of gold and expects one ounce of gold to eventually be equal to the [...]

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Steve Wynn Pulls No Punches

Frederick Sheehan on the Daily Reckoning writing about and quoting Steve Wynn: He told investors the “Obama administration is the greatest wet blanket to business and progress and job creation in my lifetime. And I could prove it…I could spend the next three hours giving you examples of all of us in this marketplace that [...]

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Debt Debate is Nonsense

The best way to understand the debt ceiling crisis is to put it into terms that the average person can understand. Imagine that you are hopelessly in debt and spending 60% more than you make each month. You have maxed out your credit cards and have no money to make this month’s mortgage payment. Miraculously [...]

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