‘Investors’ are so accustomed to a rising market…so used to the Fed goosing up prices…that they believe it must be helping them even when it raises rates. But there’s been a major sea change. The primary trend is running in the other direction
By Bill Bonner,
Gold is merely a form of ‘money’, the best form. But even the best money is worthless, in itself. It’s only valuable inasmuch as it can be either turned into goods and services and consumed…or used to produce more wealth.
By Bill Bonner,
At today’s price, if you have 17 and a half ounces of gold, you can buy all the stocks on the Dow. That’s the same price as August 1929 and May 1962, etc. From 1929–2021, apart from dividends, investors made no progress in 98 years.
By Bill Bonner,
Our beat here is money. But money woes often come in a ‘cluster’ of other troubles. In our opinion, the introduction of the fake US dollar — in 1971 — was really the beginning of the US’s great decline
By Bill Bonner,
The fiscal and monetary policies of the last two decades were exceptional. As we saw, above, they cost the middle class a lot of money. The aforementioned US$7,400 is just the most recent and most obvious tab. Our own calculations show that the common working man has not had a real raise in nearly 50 years.
By Bill Bonner,
We expect the Fed to continue its rate hikes until one of two things happen: A big bankruptcy, crash on Wall Street, or other financial emergency will cause the Fed to panic and ‘pivot’ towards lower rates. That is our hypothesis number one: that the Fed will continue to raise rates ‘until something breaks’.
By Bill Bonner,
The planet was here long before the human species appeared. It’ll be here long after John Kerry and his whole tribe have been turned to dust and scattered to the winds.
By Bill Bonner,
Washington wags are saying that the ‘conservatives’ will insist on budget cuts before agreeing to increase the debt ceiling. But they say that every time the ceiling is raised. And in the end, the ceiling is raised without any real constraints on federal spending.
By Bill Bonner,
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,
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