Bill Bonner's Diary


The Japanese Will Learn to Tango

Two days ago, we promised a look, not at where we are going, but at where we are supposed to be. Japan, that is. First, a quick look at the markets: The Dow down 109 yesterday; gold up a few bucks. What's ahead? "Tokyo now, Buenos Aires later," is still our best guess. "America will follow Japan's lead," we...

How to Disappear Without a Trace

Travel is tiring. Often, it's our laptop computer that shows the signs of fatigue first. Yesterday, it got fed up and refused to deliver the mail. We could neither send nor receive mail... neither from our laptop nor from our iPhone, which normally accesses our email account. We should have been delighted. We were in Ireland. Now we had...

Uber Alles

Yesterday, a strike by Paris taxi drivers forced us to improvise. No taxi would take us... and the trains were said to be stopped... so we turned to the Internet. We tried a company with roughly $213 million in sales last year... and a valuation over $18 billion. That's about 85 times sales. Compared to earnings, Uber's stock is...

The Real Reason There Will Be No “Recovery” in America

Nothing much happened on Wall Street yesterday. The Dow rose 56 points. Gold was flat. From the Daily Mail in London: US sees highest poverty spike since the 1960s, leaving 50 million Americans poor... The number of Americans living in poverty has spiked to levels not seen since the mid-1960s, classing 20% of the country's children as poor. It...

Which Market Is Telling the Truth?

London was lively. Restaurants, bars, museums... everything was hopping. In Hyde Park, a pair of sweaty Frenchmen completed a game of tennis. Women dressed head-to-toe in black, with only a slit for the eyes, sat on the grass, enjoying the sun. An extended family had put out a blanket and a hookah pipe; picnicking in the park. A pair...

A Ph.D. in Monetary Catastrophe

Stocks down again yesterday. The Dow slipping 139 points. Gold down slightly. Gold has fallen so hard so fast we can't help but feel sorry for the losers. But who were they? Estimates of the total loss go upward from $1 trillion. Who has that kind of money to lose? Who lost it? And whom did they owe money...

The Corrosive Effect of Free Money…

"It's true. Wealth is a burden," said a man from Australia. "And when you give it to your children, it's like putting a ball and chain on their legs." Everything was fine. All week, we had been discussing how to build a big ball of wealth and how to shackle it onto our children. Then, on Saturday night, after...