Daily Reckoning

1 week ago | dailyreckoning.com | James Rickards

When I write collapse, I’m not referring just to a financial meltdown. I’m referring to a broad-based social collapse that could call into question the rule of the Chinese Communist Party (CCP), which some historians refer to as the Peasant Dynasty. In order to understand the vulnerability of China, it helps to consider the counter-narrative that the China is a rising great power. We’ve heard for decades that Chinese GDP would soon exceed U.S. GDP to make China the largest economy in the world.

2 weeks ago | dailyreckoning.com | Bill Bonner

“Death is not something to be feared. It is just a part of life,” the priest explained. We were listening to the funeral oration for one of our workers who died suddenly last week. A young man, he got pneumonia… and then, on the way to the hospital, died of a heart attack. “We do not fear death,” the Padre continued. “Because God let his only son die. We follow his example. And we do so in the knowledge that Jesus conquered death for us all.

2 weeks ago | dailyreckoning.com | James Rickards

With so much attention focused on U.S. stock markets, it seems timely to pivot away from stocks for the moment and consider the global perspective. Globalization may be dying in terms of trade and supply chains, but financial markets are inextricably linked in ways that relatively few understand. King Dollar Still RulesThe dollar still dominates the global financial system despite the cracks in the foundation and the valid criticisms.

3 weeks ago | dailyreckoning.com | James Rickards

It’s a subject we analyze continually, and we have recommended gold as part of a sound investment portfolio for years. Today the dollar price of gold is hovering near all-time highs over $3,300 per ounce. Gold has been on a tear lately. It was $1,830 as of October 5, 2023. At today’s prices, that marks a 75% surge in just 18 months. Gold has outperformed stocks by a wide margin this year, but it has also outperformed stocks for the past twenty-five years. Gold was around $250 per ounce in 1999.

3 weeks ago | dailyreckoning.com | Bill Bonner

Buenos Aires looks much the same as always. But there’s a new energy. Walking around the Palermo Soho neighborhood, we see more construction…more new shops…new restaurants…“Things have gotten better since Milei took over,” was the judgment of our taxi driver. “Not everything… but people are not sitting around anymore.”“He’s right,” said a business friend. “Before, I had a hard time finding people willing to work.