Economy | The Daily Reckoning

Nazi Germany's economy was not a central planning success, it was a disaster. Is there a lesson for today?

Modern economists – especially the famous ones – close their eyes to how an economy actually works, focusing instead on a make-believe world of numbers and theories, with little connection to the world in which most people live.

Does the US really need to spend more money on an M1 tank that won't be a part of the next war? 

Mario Draghi's vow to do 'whatever it takes' to save the euro isn't an empty promise. But his new powers to act with overwhelming force at the central bank won't solve the eurozone's crisis.

It looks like the US economy is headed into another recession. That’s what usually happens when retail sales go down for three months in a row.

France's economy is hanging by a thread – and French President Hollande is reaching for the scissors.

The folks over at The Daily Reckoning are on a mission. Their treasure? Insight. Insight into why it is that the smartest economists in the world are so stupid. Incidentally, they hope to understand why the GDP is such a fraudulent measure of prosperity

Over the course of three odd decades, billions of dollars were lent to people who shouldn’t have been allowed to borrow lunch money. And now, there are losses in the trillions. The real question is, will the market finally be allowed to correct itself?

Bill Bonner and the analysts over at The Daily Reckoning are feeling fairly vindicated this week. They have been investigating how the federal government may have rigged the system over the past 30 years, directing funds to help the rich get richer.

Bill Bonner is not too pleased with economists right now. In his latest post he claims that as a result of their conceits and delusions, trillions of dollars have been clipped from the world’s GDP, billions of people are poorer and their lives shorter.