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The Daily Reckoning Weekend Edition Saturday, November 6, 2009 Melbourne, Australia Gold goes ballistic as traders fret over the moribund greenback, Fraudulent economic accounting and how YOU end up paying for it, Why housing is (still) a bust, this energy company is a buy, and more... Joel Bowman, with a few quick words from Melbourne, Australia... No time to write today, dear reader. It's Stakes Day here in Australia's sporting capital and we're spending the day trackside with eighty thousand or so fellow Aussie punters. Truth be told, your editor is not much of a gambling man, but we try to make an exception for Australia's big horse races. We managed to lose twice in Tuesday's Melbourne Cup, for example, by backing two losing horses in the same race. They weren't losers when we placed our bets, of course...they were "sure things." Nobody bets on a losing horse until AFTER the race is run. Then everyone heads to the pub; a lucky few to celebrate, but most to drown their sorrows. The key to having a good day, as we have come to learn over the years, is to only bet as much as you are comfortable losing. We barely cried at all after Tuesday's race and here it is, four days later and we're almost ready to forget that lost $10 ever existed. And so, while we nervously await the fate of today's $10 gamble, we'll turn you over to this week's Daily Reckoning columns. Please enjoy... --------------------------------------------------------------- THIS WEEK in The Daily Reckoning: The "GDP Fraud" By Joel Bowman Gold Coast, Australia If GDP is telling us that the US economy is steadily improving, how come so many folks on Main Street feel so bad? Don't they read the papers? Don't they know the GDP is improving? Higher Oil Prices the "New Normal" By Brian Hicks and Evan Smith San Antonio, Texas Oil prices have bounced more than 150 percent off their December 2008 lows, despite the fact that inventory levels remain at historically high levels. Does that mean the oil price is out of whack? Not necessarily. Tesco is a "Buy" By Chris Mayer Gaithersburg, Maryland Tesco Corp. (TESO:nasdaq) looks like a very cheap stock to me. This oilfield services company is not merely cheap in relation to its long- term growth prospects, but it is also VERY cheap in relation to recent takeover prices in the sector. The Housing Bust - The Final Chapter By Chris Mayer Gaithersburg, Maryland I was in New York earlier in the week for the Value Investing Congress. Among the more valuable presentations were those of Sean Dobson at Amherst Securities and Whitney Tilson and Glenn Tongue of T2 Partners. The Future of Medical Technology By Doug Hornig Afton, Virginia In the future, a visit to your family physician, or any specialist, will begin with a quick scan of the computer screen, where a few keystrokes will tell the doctor everything he or she needs to know about you - all the way from how much you weighed at birth... to the hypertension pills you took after dinner... ---- A Special Report from Capital & Crisis Research ---- Urgent Retire-Easy Alert: Introducing the Single Best Way to Make Sure You'll Never Run Out of Money... The Endless "PAYCHECK PORTFOLIO" In three simple steps, unleash a steady flow of work-free income...starting with up to 48 automatic "paychecks" deposited directly into your account. Act now or risk missing the next "payday"...* *Two "paychecks" per day on at least eight of the days listed. --------------------------------------------------------------- The Daily Endnote: That's all from us for this week. If you'd like to share any thoughts or comments, please send them to the address below. It is impossible to respond to all emails, but we certainly read all (the nice ones). Until next time... Cheers, Joel Bowman Managing Editor, The Daily Reckoning joel@dailyreckoning.com   The Daily Reckoning - Special Reports: Gold: The Truth About Gold Fiat Currency: Using the Past to See into the Future "THE GREAT AMERICAN RECOVERY RP-OFF" Brace yourself for what's about to go down as the BIGGEST FINANCIAL SWINDLE in world history.