Bias Rating: RIGHT
Factual Reporting: MIXED
Country: USA (44/180 Press Freedom)
Media Type: Website
Traffic/Popularity: Medium Traffic
MBFC Credibility Rating: MEDIUM CREDIBILITY
Founded in 1999 by Bill Bonner and Addison Wiggin, Daily Reckoning covers economic issues, investment ideas, and market analysis. According to their about page, their goal is “to help put the often confusing (and infuriating) world of finance into context… to help you connect the dots between your bank account and the decisions that are made in Washington.” The website also features a subscription newsletter.
Funded by / Ownership
Baltimore-based Agora Financial publishes Daily Reckoning. Addison Wiggin is the executive publisher of Agora Financial, LLC. Advertising and subscriptions generate revenue.
According to a Mother Jones article, “Agora’s subsidiaries have tapped into a network of conservative heavyweights, including Mike Huckabee, Ron Paul, and Newt Gingrich, who sell access to their massive email lists to advertise Agora’s products.”
In review, Daily Reckoning publishes articles with emotionally loaded language such as this “The Deep State V. Trump.” A quote from the article reads, “Donald Trump has the establishment scared out of their establishment minds. That’s exciting. I love it.” In another article, “War on Cash: The Next Phase,” they criticize the central bank digital currency (CBDC). A quote reads, “CBDCs may be coming for the banks,” and “Governments will know your whereabouts and habits at all times simply by tracking your use of funds through the CBDC payment system.” They further state, “If cash is gone, there is only one way to escape digital surveillance of wealth — physical gold.” This article fails to provide a single hyperlinked source to support the claims.
Editorially, Daily Reckoning frequently promotes gold as an investment citing sensationalized scenarios of impending doom such as this “The Only Way Out of the Death Trap” and this “A Tsunami Warning Has Been Issued.” Further, they have an unfavorable view of President Biden and his policies Final Nail in the Coffin. Again, this story does not offer a single supporting source.
When it comes to science, they promote misinformation regarding climate change, such as this The Sky Is Falling. In this completely unsourced piece, they use debunked information such as this “The best evidence is that the planet is not warming, but it may be cooling under the influence of a periodic minimum in solar flare activity.” They also promote that reducing carbon dioxide will harm plants, which is not true. Finally, they promote misinformation regarding Covid-19, especially as it pertains to mask-wearing and social distancing effectiveness. In general, they promote a financial perspective that best aligns with Libertarianism and is not always factual.
Failed Fact Checks
- None by third parties – See examples above
Overall, we rate the Daily Reckoning Right Biased based on right-leaning libertarian economic and market positions. We would also rate them Mixed for factual reporting and borderline questionable due to articles that reject the consensus of science, poor or no sourcing of information, and the promotion of sensationalism. (M. Huitsing 5/17/2021)