PARIS – Paris is getting ready for Christmas…
Garlands, lights, stars – the city is festooned for the holidays.
One of the nice things about Europe is that the seasons are exaggerated, at least compared with Baltimore. The days in summer are longer. In winter, it is dark long before the cocktail hour.
As Christmas approaches, people gather in neighborhood bars and cafés lit up… gay… and cheerful.
We sat in a café yesterday, enjoying the friendly buzz and waiting for the phone to ring. But we got no call from Donald Trump thanking us for our support in yesterday’s issue.
Too bad. We were going to offer him our campaign slogan (if we ever lost our mind and decided to run for public office): Too Rich to Steal… Too Dumb to Lie.
After reading yesterday’s Diary, readers wrote to tell us that we were defective mentally.
Half of them were furious because they thought we approved of Trump. Half were outraged because they thought we didn’t. And the other half were just mad. (You can find the whole potpourri in today’s mailbag, below.)
And who knows? They’re probably all right.
But give the tycoon credit. In these days of waffling, poll-watching, bribe-sucking, on-one-hand-this-on-the-other-
Is that why he is the Republicans’ front-runner?
Ah, the Trump phenomenon is worth exploring… more below…
The Dow fell 163 points yesterday – a nearly 1% drop.
Mining firm Anglo American announced 85,000 layoffs… and oil continued to slide.
Our lead researcher, Stephen Jones, predicted back in August that stock markets would enter a “dramatic” decline that would likely begin within three months.
We will have to wait a little longer to find out if he was right. But the rally that began in March 2009 appears to be running out of steam.
As we reported yesterday, expansions do not last forever. And this one has already run twice as long as the average.
Gold, meanwhile, has been so lethargic we stopped paying attention. When we looked yesterday, it took $1,072 to buy a single ounce.
That’s way down from its high… and way up from its low.
We are gold bugs… but we’re not necessarily gold bulls.
We have more faith in the precious metal than in the Deep State PhDs who run U.S. financial policy.
But is the current price too high? Too low? Will it go higher?
We don’t know.
The world economy seems to be slipping into a slow, sluggish, and slumpy pattern.
No need to worry about inflation – at least in the near term.
So, no need for gold to protect you from higher consumer prices.
But the financial quacks have made such a mess of the global money system that it could melt down or blow up at any moment.
Who knows what will happen? But when we come out the other side, we predict that gold will be as shiny as it was when we went in. Maybe shinier.
We further predict that the reputations of Ben Bernanke and Janet Yellen will be considerably tarnished.
Our advice remains the same: Hold some gold. Hold some cash. Hold some bricks and mortar. Hold some equity in solid businesses. Call your mother… pet your dog… and be happy.
Back to Trump…
France has its own Trump. More polished. Better looking. Not as rich. Marine Le Pen was the big winner in France’s regional elections. Her party, the Front National, led the field.
Like Trump, Le Pen’s signature position is that she wishes to make France strong again… by keeping out foreigners.
A poster of hers can be seen all over Paris. It shows two women. One is rather typically French. The other is wearing a black burqa, so we see only the eyes. “Who do you want for a neighbor?” the headline asks.
The establishment is alarmed. It is a “dangerous and divisive movement,” says a Financial Times editorial. It is “crudely xenophobic,” it continues. The mainstream parties “need to act quickly” to head off this threat from the “far right.”
Critics say Le Pen’s program would undermine the European Union… it would kill the euro… it would send the economy into a recession!
And they’re probably right.
Neither Trump nor Le Pen care enough about an economy to really figure out how it works. Their proposals – as near as we can figure them out – are typical socialist claptrap. If put into place, they would probably be even worse than the status quo.
And yet… Le Pen and Trump have something going for them: They’re not Hillary Clinton, Jeb Bush, or François Hollande!
They’re not the establishment. They’re not beholden (as far as we know) to the elites, the Adelsons, the oil industry, or Goldman Sachs. Neither the cronies nor the zombies have them entirely in their pockets.
Besides, they’ve earned the contempt of the New York Times, the Financial Times, Le Monde, and the Wall Street Journal, so they can’t be all bad.
The appeal of Trump and Le Pen is not what they are but what they are not.
They are not members of the political elite. And deep down, the public knows something is wrong. It knows the game is rigged against them. It knows the fix is in…
…and it looks to Trump and Le Pen to set things right.
Further Reading: Could a Trump presidency set right a game that is totally rigged against the average American? Probably not. The cronies and zombies have spent far too long exerting their control just about every aspect of our daily lives. From health care, to education, to the food on our tables, to the never-ending war on terror, the Deep State is pulling all the strings.
In the last issue of The Bill Bonner Letter, Bill exposed how the cronies and zombies behind the Deep State have pushed the world to the brink of an irreversible disaster. Learn more here as Bill reveals how that disaster will unfold… and, more importantly, how it’ll change your life forever.
Is this what capitulation in the commodities sector looks like?
After announcing it was laying off 85,000 workers and suspending dividend payments for a year, Anglo American – one of the world’s largest mining firms – saw its shares plummet by more than 7% in a single day.
That’s on top of the 81% loss over the last 16.
Anglo American shares hit a record low of £2.78 (US$4.19). That’s 92% off their peak price of £36.83 (US$55.78).
If It Owns a Well or a Mine… It’s Probably in Trouble
Buying troubled commodities stocks could one day be a fantastic contrarian investment. But getting the timing right won’t be easy. The full shakeout in the sector depends on how much further commodities prices have to fall.
Gov’t Official Says New Energy Source Will Soon Surpass Oil
A rediscovered breakthrough in physics could provide enough fuel to power the entire planet… at zero cost. One government official says, “It’s growing so fast it’s going to overtake everything… It could double every two years.”
Want High Income? Time to Look Overseas
Thanks to the Fed’s ultra-low interest rates, U.S. investors are starved of income in their portfolios. That’s why it may be time to look at foreign bond markets – some of them offer attractive opportunities right now.
As Bill mentioned, we got a lot of mixed feedback on yesterday’s issue on Donald Trump – including more subscription cancellations.
So, today another extended edition of the mailbag…
Your whole article explains why Trump could get elected because of his outrageous statements. However, that does not explain why you would then title your article “Trump Could Be One of Our Greatest Presidents.” Trump is an idiot and apparently so are you.
I just lost interest in everything you have to say and your organization.– Donald M.
It would appear that you are as big a blockhead as Trump. You are one sick puppy if you can’t see what a fascist he is. There is no place for him in a decent society.– Bob J.
People thought Hitler would be a great leader also!– Roger S.
OK, I think this is the last straw. You are most certainly entitled to your opinions about anything and everyone. As you do NOT live in this country, I take some exception to your remarks with regard to this complete imbecile Trump.
With this individual being used as a classic case study by renowned psychiatrists for his extreme narcissism (among other things), IF he were elected president, I imagine that ANY foreign leader who fails to agree with him will incite his ire to such a degree that the nuclear codes will be handy at all times and this idiot will push the button. But you live elsewhere, so it doesn’t matter to you.
I am unsubscribing to all future communications from you.– Lori M.
I am very much in favor of Trump, because he seems to be the only one who seems to be willing to stand up and really DO something about the problems of our country. The other guys are all namby-pamby.
I know my ancestors, who fought in the war with George Washington, are rolling over in their graves from what’s been going on in this USA.– Katherine G.
Thank you. I am glad somebody is saying something good about him. I understand the Republicans are trying to discredit him, so I will neither join as a member nor donate money to any candidate!– Jean B.
You actually compared Donald Trump to Abraham Lincoln? I’m all for mischief and playing devil’s advocate, but this just seems silly by you guys. I expect better from you.– James M.
Bravo for Trump. He is the only one who dares to speak the truth. He would make a fine president. God bless him.– Franklin B.
Are you serious?
Please don’t cause me to lose faith in your credibility… He’s a blowhard that has no business running for president.– Alice S.
Donald Trump? I respectfully disagree. He will be one of the worst presidents. His policies are big government. He is an authoritarian. Instead of coalescing differing groups together, he will alienate with his bombastic, egoistic, self-centered persona, thereby causing an avenging atmosphere rather than one of cooperation.
Since he is accustomed to giving orders and does not have the capacity to adhere to the rules except those he makes up, he will be stymied and forced to author the most executive orders ever written in our country’s history.
His policies are all extreme with little forethought or consideration given so unless he has a topnotch group of advisers, his policies will fail.
All hail to King Trump? I don’t think so.– Irene T.
Thanks for being audacious enough to speak the truth about Lincoln and Wilson as two examples of clear American “values” contradiction and duplicity.– Terry P.
Was Bill being a “blockhead” about Trump?
Write us at email@example.com and tell us what you think.