Bill Bonner's Diary


The Claptrap Behind the Minimum Wage Debate

New York seems to have more than its fair share of knuckleheads. Paul Krugman and Tom Friedman are both stalwart columnists in The New York Times. And there’s staff writer James Surowiecki at The New Yorker. More about that in a minute… First, investors are taking it easy… distracted by barbecues, family reunions and the […]

A “Dark Horse” Candidate to Replace Ben Bernanke

Markets continued their summer trading behavior last week. Up a little, down a little… meandering… strolling… not in a hurry to get anywhere. The end of the week found the Dow about where it began… and gold a bit lower. But here at the Diary, we make tracks. We are using these lazy, hazy days of summer to steal...


What’s America’s No. 1 Export?

Another day of piddly trading, with piddly losses for both stocks and gold. So let’s turn back to our thoughts. First, we looked at money. We saw that the US now operates on a type of money better suited to the Paleolithic Age. A credit-backed money system has never worked in the modern world… and none has ever survived...

Old Man Rothschild Was Right…

When we left you yesterday we were lamenting how the American working classes have lost ground. Today, the typical working stiff has a lower real income than he had in 1950. Wait… Is that possible? Yes. As we showed yesterday, he has to work longer today to pay for a family car and a house than did six decades ago. In...

How America’s Working Stiffs Got Stiffed

Amazing how much difference a few years make. We first visited China in the 1980s. It was an appalling dump. Few cars. Few roads. Almost no decent restaurants or hotels. Now in Beijing you see large black luxury automobiles everywhere… and modern highways crisscrossing in front of huge hotels and apartment buildings.

The Honest President

Dear Diary Reader, Dad is in Beijing at the Chinese launch of his new book on family wealth, Family Fortunes. So instead of his regular diary entry today, here’s another classic for you. It’s about a “forgotten” president who was the last to deal honestly with a financial crisis.