Bill Bonner – Bill Bonner’s Diary (United States) – POITOU, FRANCE – Autumn has finally imposed itself. The yellow and gold leaves drift down… morning fog rises… and the remains of the day grow cold. We now have a fire in the fireplace all day long. A couple of oak trees had to come down. …
Bill Bonner – Bill Bonner’s Diary (United States) – POITOU, FRANCE – “Trump did this…” “Trump did that…” The news media can barely keep up with him. Sometimes, the calumnies against the president are idle gossip. Sometimes,
Bill Bonner – Bill Bonner’s Diary (United States) – PARIS – Yesterday, we described what we believe is the true source of today’s bubbly markets: fake money from the Deep State’s finance arm, central banks. Today, we connect more dots.
Bill Bonner – Bill Bonner’s Diary (United States) – PARIS – Whoa! Bitcoin is up $1,457 since the start of the month; at writing, one bitcoin sells for $5,670. Look at the Dow. It is on its way to 23,000. And don’t even mention the tech
Back in March, President Trump tweeted that drug companies “are getting away with murder” with their high prices. But according to a recently leaked White House memo, he’s now about to ease regulations on them.
Everyone knows stock prices must come down. But no one knows when… or even why. Here at the Diary, we try to keep our feet on the ground. But we would need stilts to understand what is going on in today’s markets. Nothing is solid. Nothing is true.
Today’s chart tracks the gains for the S&P 500 in the first 11 months after presidential elections (the time that’s passed since Trump was elected). The performance under President Trump has been the seventh-best in history (19%). But it’s not
Neither Republicans nor Democrats will show any interest in fiscal restraint; deficit spending will increase. The Fed won't force restraint; instead, it will facilitate more deficit spending. This train is going to be running wide open until it flies off the
Commentators in the mainstream media regard every move the president makes as a “mistake”… or as “undermining his agenda.” They miss the point: He has no interest in serious legislation. And no real agenda. He has only one measure of success –
Tesla, Snap, Uber, and more lose billions of dollars, year after year. But investors see a corner… and they’re sure these techies will turn it. Netflix, for example, announced in April that it hoped to lose “only” about $2 billion this year, but
When the government tries to “solve” the pension crisis with the printing press, I expect investors to rush into gold - a reliable safe-haven asset. And due to desperation, I expect many states to legalize this tax-revenue generating industry...
Why can’t Congress pass a serious tax reform measure? Because the feds need money. They can only get money from the people who have it – the rich. But the rich control the government and its tax-writing committees. So, the feds are stuck. And so is the
It was a “conundrum” to former Fed chief Alan Greenspan. It is a “mystery” to his successor Janet Yellen. How come the economy doesn’t respond to easy money the way it used to? We have a hypothesis…
We are blameless, of course. It just happened that way. We went to work in the financial sector in 1979 – just eight years after President Nixon severed the last ties between the dollar and gold. How were we to know that the feds were going to make us rich?
Anything can be a medium of exchange, as long as it’s accepted. And bitcoin increasingly is. It fulfills that—or is in process of doing so. It will become more accepted as government fiat currencies approach their intrinsic values—essentially
Yesterday morning, Japan – the main beneficiary of China’s clampdown – approved 11 cryptocurrency exchanges. Money talks, and it’s hard to argue with people who are getting rich.
"The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing." - Jean-Baptiste Colbert, French finance minister (1665-1683)
Higher inflation - the only way to keep America from going broke. Unfortunately, it will also make your money worth less. Now is a perfect time to buy some gold.
If you live in a ZIP code favored by the Deep State – most of which are on the two coasts – you are likely to approve of the system and disapprove of anyone who threatens to shake it up. If you live in "flyover country", you may see things differently...
The Fed announced that it aims to start gradually unwinding QE. With baby steps… of $10 billion a month. Let’s see. That’s $120 billion a year. At that pace, how long would it take to get back to “normal”?
As usual, mainstream analysts are telling us that the bankruptcy was “expected” and that the brick-and-mortar toy retailer was just “another victim of Amazon.com.” That is not untrue. But there is an important nuance…
We guessed that this new breeze would be little different from the prevailing winds of the previous 20 years. It took a few months to tell the tale, but now we know: We were right. Instead of draining the swamp, as promised, the Trump team adds more slimy
Over the next 10 years, the U.S. government is on course to spend $10 trillion it doesn’t have. It has also committed to a further $80 trillion in entitlements for which it has no known source. Only growth can save it.
The Doom Index is still at a reading of 7 – our “extreme warning” level – as we enter the final month of the third quarter.