Bill Bonner’s Diary of a Rogue Economist

Print, Dupe and Transfer

Bill Bonner, Chairman, Bonner & Partners, August 26, 2014

Dear Diary, Still in those lazy, not-so-hazy days of summer. August 15 marked the 43rd anniversary of that fateful decision by the Nixon administration to end the direct convertibility of the US dollar to gold. It came and went without much fanfare. Nobody cares. Thanks largely to this new easy-money regime, credit creation replaced capital accumulation as the main driver of economic growth. Credit in the US expanded 50 times between 1964 and 2007, far more than the economy that » Read Article

The Fatal Flaw That Will Bankrupt Our Democracy

Bill Bonner, Chairman, Bonner & Partners, August 25, 2014

Dear Diary, We’re still in the lazy days of August, with little going on in the stock market. So let’s use this time to look at deeper trends. We left off last week with discouraging words. First, we noted that, according to Washington’s own budget people, Social Security is going broke 20 years sooner than forecast. It’s already $15 trillion in the hole, with a deficit that’s up 300% (mistakenly reported as 400%) in the last five years. Second, we » Read Article

This Is When the US Gov’t Goes Broke

Bill Bonner, Chairman, Bonner & Partners, August 22, 2014

Dear Diary, First, we check in with the markets. What’s new? Not much. The Dow crossed the 17,000 mark yesterday. Janet Yellen is supposed to address the world today from Jackson Hole, Wyoming. It is hard to imagine that she will say anything surprising… or even meaningful. Commentators all over the planet are waiting to analyze each word… hoping for a hint of what is coming. They want to know when we will be leaving this wacky world of price » Read Article

Fear and Loathing in the Newsletter Business

Bill Bonner, Chairman, Bonner & Partners, August 21, 2014

Dear Diary, We read through our mail this morning. As you can imagine, we get many letters from readers. We can’t reply to them individually, but we read every one. Then we look for a rope and a stool… We’ll come back to this topic in a minute. First, we set the scene. We are staying at the Mount Juliet Hotel in County Kilkenny, about 80 miles south of Dublin. Through our window we see a lowing herd “winding slowly » Read Article

“Mission Accomplished” for Yellen, Draghi and Abe?

Bill Bonner, Chairman, Bonner & Partners, August 20, 2014

Dear Diary, We are doing a quick tour of Britain and Ireland, catching up on business. No time to write much this morning… We need to rush to a plane. The weather, generally, is terrible. Cold. Windy. Rainy. It is mid-August, but it could pass for mid-winter in most places. Here in Ireland the sun barely shines. Not that this dampens our spirits or decreases our joy. Those were long gone before we boarded our plane in Limoges, France. Yes, » Read Article

Corrupt Money Corrupts Everything

Bill Bonner, Chairman, Bonner & Partners, August 19, 2014

Dear Diary, Dow up another 175 points. Wee! Corrupt money corrupts everything it touches. Do you remember, last year about this time, we saw two guys in electric wheelchairs racing each other down Eutaw Street in Baltimore? The local liquor store must have been getting ready to close. All over the city you see these motorized wheelchairs. You may wonder how people got around before they were invented. They probably walked. Or powered their wheelchairs with their own arms. You » Read Article

Japanese Women Armed with Chainsaws…

Heather Gorsuch, August 18, 2014

Dear Diary, Our hat is off. Our knees are bent. Our mouth hangs open. We are amazed. Grateful. And appalled. What will the Japanese do next, we wonder? We are amazed because we have seen the international test results. On IQ tests, the Japanese score 10 points higher than the world average. And yet there they are… doing the stupidest things we can imagine. We are grateful, because Japan has been leading the world in economic absurdity – bubbles in » Read Article

The End of Money

Bill Bonner, Chairman, Bonner & Partners, August 16, 2014

Editor’s Note: In today’s Weekend Edition, Bill reveals why a collapse of our fiat money system could leave millions dead. As Bill warns, modern money is nothing more than a system of credit that depends on electronic transactions to keep track of who owes what to whom. If the electronic system goes down, so does the economy. Then our safety-net institutions will fail, too… The End of Money By Bill Bonner, Chairman, Bonner & Partners, and author of Hormegeddon Here » Read Article

“This Country Is Completely F**cked Up… “

Heather Gorsuch, August 15, 2014

It’s Assumption Day. Today is a holiday here in France. You wouldn’t know it. No one is working, but that is just like every other day in August. “This country is completely f**cked up,” says our handyman. “Nobody works. Everybody expects something for nothing.” Damien deserves description. His parents gave him to an orphanage. At 16, he began smoking and went to work; he’s been smoking and working – as a truck driver, day laborer, gardener, and handyman – ever » Read Article

Time to Invest in Marijuana?

Bill Bonner, Chairman, Bonner & Partners, August 14, 2014

I wanna be a billionaire so f**king bad – Bruno Mars Dear Diary, Yesterday, the Dow rose 91 points. But markets are generally sluggish. It is vacation time. People have better things to do than watch Bloomberg terminals and bet on stocks. So, let us also turn our attention to other things. Specifically… How to get your share of the pot! “Would you like to make a billion dollars?” begins an email from an old friend. He was completely serious. » Read Article

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