August 1, 2012 - Quote of the Day
?The consumer in the United States has basically disappeared. There are no jobs, no wage increases, and therefore no spending,? said Bill Gross of bond giant, PIMCO.
Entries by DougD
Mr. Mario?s Big Bluff
A couple of alleged Tweets, a few rumored phone calls, and what have we got? $2 trillion in new global stock market capitalization in hours. That was the bottom line after the purported communication between the staffs of Germany?s Angela Merkel, France?s Jean Francois Hollande, and ECB president Mario Draghi. But is the creation of
An Evening With Travel Guru Arthur Frommer
When I backpacked around Europe in 1968, I relied heavily on Arthur Frommer?s paperback guide, Europe on $5 a Day, which then boasted a cult like following among impoverished, but adventurous Americans. Over the following years he directed me down cobblestoned alleyways, dubious neighborhoods, and sometimes converted WWII air raid shelters, to find those incredible
July 31, 2012 - Quote of the Day
?We didn?t get here by accident. America is the product of the greatest public/private partnership in the history of the world,? said Tom Friedman, international affairs columnist at the New York Times.
Report From the Olympics
It was an unexpected call. A close friend who ran one of the world?s largest hedge funds said he had two tickets to the London Olympics opening ceremony on Friday night. Would I like to have them? I said he must be kidding. I knew from my own research that these tickets were the most
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.
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