The Daily Reckoning Weekend Edition
Saturday, December 25, 2010
Buenos Aires, Argentina | -------------------------------------------------------
- Happy Holidays from your editors at The Daily Reckoning,
- Grab a free copy of Hazlitt's classic for your Christmas stocking,
- Plus, all the reckonings from the past week, wrapped and ready for your weekend reading...
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Why I'll "Pay" You $8,409 to Cancel Your Subscription...
I know that sounds funny - me "paying" you thousands of dollars to cancel...
But that's exactly what I want to do today.
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Dear Fellow Reckoners,
The global DR offices are closed for the Christmas weekend. That's not to say we're leaving you without some thoughts, of course. We've included below a few of the latest musings from the past week, as well as a couple of DR classics to tide you over on the long weekend.
Please enjoy and have a safe and merry Christmas.
Cheers,
Joel Bowman
Managing Editor for The Daily Reckoning
P.S. As a special token of our appreciation, we're offering readers a 60% off coupon to be used at Laissez Faire Books. Also, when you purchase any book from their catalogue, you also get a FREE copy of Henry Hazlitt's classic Economics in One Lesson. Just be sure to include this promo code: DRED when you order. Here's a link to their page.
Copies are limited, but you should still be good to grab yours over the holiday weekend. Cheers - JB.
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| ALSO THIS WEEK in The Daily Reckoning...
The Half-Truth and Nothing But the Half-Truth
By Eric Fry
Laguna Beach, California
Transparency is essential in a free market. It enables market participants to make informed investment decisions. Unfortunately, in America's "free market" economy, transparency is a latchkey child. It only sees the light of day when someone breaks down the door and carries it outside. Institutions like the Federal Reserve and the Treasury explicitly and vehemently resist transparency. It is the enemy, they say, of an "independent" monetary policy.
The Wonderful World of Charles Fabrikant
By Chris Mayer
Gaithersburg, Maryland
A little nugget every investor learns eventually: Talented people create wealth. And talent is an asset that never really goes into a bear market. It's always valuable...as the long-term investment performance of SEACOR Holdings (NYSE:CKH, $104.30) demonstrates very clearly.
Is A Police State Worth Fighting For?
By Simon Black
While the notion of staying and 'fighting' is a noble idea, bear in mind that there is no real enemy or force to fight. The government is a faceless bureaucracy that's impossible attack. People who try to do so usually discredit their argument because they become marginalized as fringe lunatics. Violence is rarely the answer, and it often has the opposite effect as intended, frequently serving to bolster support for the government instead of raising awareness of its shortcomings.
Is Brazil For "Real?"
By Chris Mayer
Gaithersburg, Maryland
I recently spent two weeks in Brazil on a four-city tour - in Campo Grande, Sao Paulo, Florianopolis and finally Rio de Janeiro. What can I say about the experience? I can say that the caipirinha - Brazil's national drink - is a potent cocktail; Brazilian meats are very salty; Brazilian desserts are very sweet. This taste for the extremes of the flavor spectrum extends to Brazil's monetary brand, as well.
The Descent of Money
By Bill Bonner
Paris, France [From Jan. 29]
Science and technology have produced many wondrous breakthroughs. But there are some things it cannot improve. A kiss from natural lips is still the lover's choice. Baby formula proved no match for the real thing. Ersatz money is a flop too. That last item is not so much a fact as a prediction. The first modern competition between gold and paper money ended like the pre-modern ones. Gold won. Herewith, a short summary...
The Inimitable Human Currency
By Joel Bowman
Buenos Aires, Argentina [From Oct. 10]
Here at The Daily Reckoning, your editors write extensively - sometimes painfully so - on all manner of subjects related to money. Our beat is finance and economics, with a sprinkling of philosophy and bad comedy thrown in to keep our Fellow Reckoners from dozing off mid-column. But money, in all its forms, is really just a means to an end, albeit a very important one. That end, of course, is freedom. Money simply happens to be one tool, one method, one key with which you can determine to lead a freer life.
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Here at The Daily Reckoning, we value your questions and comments. If you would like to send us a few thoughts of your own, please address them to your managing editor at joel@dailyreckoning.com
| | | | The Daily Reckoning - Special Reports: | Gold: The Truth About Gold Fiat Currency: Using the Past to See into the Future Have You Heard of the OTHER Government Backed "Pension Program?" | |
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Managing Ed.: Joel Bowman
Web Ed.: Greg Kadajski | | About The Daily Reckoning: Now in its 10th anniversary year, The Daily Reckoning is the flagship e-letter of Baltimore-based financial research firm and publishing group Agora Financial, a subsidiary of Agora Inc. The Daily Reckoning provides over half a million subscribers with literary economic perspective, global market analysis, and contrarian investment ideas. Published daily in six countries and three languages, each issue delivers a feature-length article by a senior member of our team and a guest essay from one of many leading thinkers and nationally acclaimed columnists. For additional articles and commentary follow The Daily Reckoning on Twitter and Facebook. |
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