Bill Bonner's Diary


The Commencement Address Nobody Wants to Hear

Yesterday was Memorial Day in the US. We used this quiet interlude to continue the commencement address nobody wants to hear... You are heirs to a great society, a great economy, a great government... and more snaky illusions than you can shake a stick at. Memorial Day gave us an opportunity to salute the fallen. Without a moment's hesitation...

Why You Can’t Have Freedom AND Equality

At a dinner party last month, our hostess interrupted the small talk to make a little speech. She told us that she really hated oppression and inequality. She then invited us to talk about how we were combating oppression and inequality by doing good. A young woman – a yoga teacher – said that she had recently volunteered to teach...

To the Class of 2014: Congratulations Chumps!

There are 4,495 colleges and universities in the US. By our count, they reckoned there were at least 4,495 commencement speakers more suitable than your editor. Not one asked us to give the graduation address. That was probably a good decision on their part. Nevertheless, we prepared an address we would have delivered had we been asked. Today, we...

These Debt Levels Are Crazy…

The Dow posted a big 158 point gain yesterday – about a 1% jump. Gold sank to $1,288 an ounce. What does that tell us about what is coming down the pike? Nothing. But even without knowing anything about the future, we grow nervous. The morewe look, the more we see dangerous distortions and illusions caused by central bank...

This Hugely Popular Investment Is About to Blow Up

The Dow dropped 137 yesterday. Gold was flat. US stocks are in an historic uptrend; not for 40 years have there been so few countertrend down days. That's what zero-bound interest rates can do for you! Never before have financial markets had so much wind at their backs; it's enough to blow their shirts off. In a normal world,...

Tens of Millions Will Lose Their Jobs

Not much action in stocks... or gold... yesterday. So, let's go back and see what we've figured out recently. For one thing: The middle class can no longer afford a middle-class lifestyle. We've also confronted an awkward truth: America is more of an oligarchy than a democracy. A recent university study found that Washington often snubs the will of...

Oligarchs and Poligarchs

When we left you on Friday, we were delighted. We had found a kindred spirit... a like mind... a man as cheerful and as lighthearted as we are... in the person of Charles Hugh Smith, author and chief writer for OfTwoMinds.com. Smith doesn't whine about wealth inequality or call for wealth redistribution like the numbskulls on the editorial pages....