The BoE has made its pivot much too soon…and now they will make their economy even more dysfunctional than the US. But here, we are grateful to drug addicts, dumbbell central bankers, and bitter ex-spouses. The world needs jackasses…to show it where not to go and what not to do.
More from Bill Bonner
Pulling Punches
Over the last 12 months, the interest on federal debt rose above US$700 billion per year. As the Fed raises interest rates, the number will soon go over the cost of Social Security and Pentagon spending — combined. Meanwhile, inflation reached 40-year highs.
Lower Lows
As predicted last week, stocks began trading yesterday with the Dow at less than 30,000. Next target: 20,000.
Bill Bonner is the editor for
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