![Deficit2[1]](http://www.businessinsider.us/BusinessInsider/wp-content/uploads/2009/11/Deficit21.jpg "Deficit2[1]")
By Bill Bonner
(The Daily Reckoning)
Financiers have the world’s financial system in a “doom loop,” says the Bank of England. We’ve thought so ourselves. The bankers take money from the government and use it to speculate, not to lend. “Excess” reserves are at a record high as consumer credit continues to decline.
Most people find it both galling and absurd to see the bankers getting $10 million bonuses while there is 10% unemployment. Here at The Daily Reckoning, it’s just a matter of curiosity. You’d think there would be more wage competition … Continue Reading
![pennystocks1[1]](http://www.businessinsider.us/BusinessInsider/wp-content/uploads/2009/11/pennystocks11.jpg "pennystocks1[1]")
Preparing for Second Wave of Financial Crisis
By Rocky Vega
(The Daily Reckoning) If you’re looking for insight into how you should be responding to the “recovery” in the US economy, there’s actually a glimmer of sanity coming leading US companies. Right now major American companies are storing up more cash than at any other time within the past 40 years.
According to media reports, Citigroup and JPMorgan Chase among others are saving “as if another financial crisis were on the way.” Even the vice president of equity research at Rochdale Securities Dick … Continue Reading
![investingstrategies_2[1]](http://www.businessinsider.us/BusinessInsider/wp-content/uploads/2009/11/investingstrategies_21.jpg "investingstrategies_2[1]")
By Rocky Vega
(The Daily Reckoning) It’s true, the 3.5 percent third quarter GDP growth could be a sign of good things to come… but most likely that’s not the case. Brian Sullivan of FBN has put together five reasons why the US is not recovering.
1. The money lost on stimulus spending – The 3.5 percent growth in GDP is roughly equal to an additional $112 billion dollars in output quarter-over-quarter, but we spent $173 billion on stimulus over that … Continue Reading
