Earlier in the day, we attended mass at St Pierre in Le Dorat. It’s a magnificent church in a charming medieval town. The church is huge…built of heavy grey granite in the 10th century. It has tall columns and soaring arches…and paving stones worn smooth by 30 generations of believers.
By Bill Bonner,
Take out the accidents, mistakes, and miscalculations, and not much military history would remain. What was Napoleon’s attack on Moscow if not a giant, boneheaded error? Adolf Hitler might have thought that mechanised transport made it possible for him to succeed where Gustavus Adolphus and Napoleon Bonaparte had failed.
By Bill Bonner,
Today, almost everywhere, public pension programs are underfunded. Almost all the world’s governments are deep in debt. GDP growth rates have slowed to a crawl. Productivity — under the weight of so much social welfare regulation — is failing. And populations are peaking out.at…
By Bill Bonner,
What a wonderful bunch of mental defectives and pompous poseurs. We speak of the whole Davos crowd…as well as their pet economists. It must be delightful — in a childish way, of course — to think you can not only foretell the future…but actually improve it before it happens.
By Bill Bonner,
Today, most investors expect a repeat of the last 20…30…40 years. Not likely. Why? Enantiodromia. Markets are always seeking to become the opposite of what they are
By Bill Bonner,
It’s Martin Luther King Jr Day. A holiday in the US, but not for the team, spread out between Laramie, London, Buenos Aires, and Paris.
By Bill Bonner,
WEF is a sinister organisation. It believes the common man is a dope — which, of course, he is. But it also believes that (or rather its adherents) the great and the good from all over the world are geniuses — which they are not.
By Bill Bonner,
The US ‘defence’ industry has long since given up any pretence to be defending the US. Since the Second World War, all its undertakings have been ‘wars of choice’…offensive operations in which it meddled in the affairs of sovereign foreign nations
By Bill Bonner,
With no deficits to finance, the Fed would have had no compelling reason to manipulate interest rates. Federal debt, if left where it was when Bill Clinton moved out of the White House, would be about five and a half trillion, not US$31 trillion.
By Bill Bonner,
Why does it take more money to buy the same things (aka inflation)? Because the Fed added money! The Fed’s increased its balance sheet 1,200% since 1999. The extra money drove up prices, first when it entered the financial system — on Wall Street. Later, the money made its way into the real economy, where it caused consumer prices to go up at the fastest pace in 40 years.
By Bill Bonner,
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