The US has become a banana republic without the bananas. The practical importance: shouldn’t its capital assets — its stocks and bonds, primarily — be marked down to banana republic levels?
More from Bill Bonner
Beyond Reckoning
As an indicator of real wealth, happiness, or progress, GDP is worthless. All you have to do to raise GDP is to invite in more immigrants. As each one buses and schleps, total output goes up.
The Real Secret of Government
The murders got the world’s attention. Hardly noticed was the economy…because, after the communist takeover, it disappeared. You could not say ‘the economy declined.’ There was no economy.
Bill Bonner is the editor for
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