Bill Bonner's Diary


A Tsunami of Debt

The Dow sold off a little yesterday, after hitting a new all-time nominal high on Tuesday. (Adjusted for inflation, the story is a little different. The Dow’s inflation-adjusted high is about 16,000.) Investors must feel confident. Sentiment is overwhelmingly bullish. Investors don’t think the Fed will taper any time soon. They’re right about that. The betting is that tapering...

Apocalypse Later!

It’s all decided. Play now. Pay later. Let’s see, stocks moved up again yesterday. The Dow rose 111 points. Gold fell $6 an ounce. As usual, Bloomberg had a reporter in the playground: It still seems that the Fed has created this good news is bad news, bad news is good news scenario,”Randy Bateman, who oversees $15 billion as...

The Fed Was Right…

Yesterday, markets did nothing. Gold and US stocks ended the day roughly flat. Who knows what tomorrow will bring. A crash? A bubble? Not for us! For dear readers who had lingering doubts, we just proved we are no good at predicting the future. We missed one of the biggest bull markets in history! Bloomberg has the details: The...

Surrounded By Zombies

Saturday, we went to a Halloween Party. There…we were surrounded by…ZOMBIES! About an hour west of Washington, the location was beautiful Rappahannock County, VA. Stone walls…trees wearing their autumn dresses of red and gold…brisk weather… There was a bonfire to chase away evil spirits. Music. Dancing. And a witch warned that we were entering...

The Opportunity of a Lifetime – In Real Estate

Markets show no clear direction. The Dow rose 95 points yesterday. Gold rose $16 an ounce. The press, too, seems confused about what stories to follow. One newspaper focuses on jobs. Another thinks Janet Yellen should get more ink. Spain has climbed out of recession, the Financial Times tells us. Another shutdown-danger looms ahead, warns the Wall Street Journal....

Alan Greenspan’s Shock Revelation

“Jobs Report Leaves Fed in Doubt,” was a big headline yesterday morning. Later in the day came this: “Dow down 54 on jobs concern.” What is the Fed in doubt about? To taper, or not to taper, that is the question. And why should a jobs report make any difference? Oh, dear reader, where have you been? Don’t you...

A Barbarous Fed…

Dow up 75 points yesterday. Gold up $26 an ounce. Stock investors are still acting as though Janet Yellen will be good for the economy… or at least good for stock prices. Gold investors must think so too. But will she be? Yellen has no business or investment experience. Her entire career has been spent in academia and in...