Bill Bonner's Diary


The Truth About Bernanke’s Legacy

Historians will look back on this period with awe and wonder. Somehow, three generations of economists and policy-makers have convinced themselves of things that can't be true. "Not enough demand," they say, in penetrating analysis of today's lackluster economic growth rates. "We need to provide demand," they add, as though demand were like oranges. You just pack up the...

Our Favorite Way to Build Long-Term Wealth

Dow down 41 yesterday. Gold down $3 an ounce. Want something better? Try real estate! Yes, dear reader, we don't care much for stocks or bonds. We don't trust them. Because we can never get beyond the threshold question: If these were such good investments, why would they be offered to us? That question comes from years of experience...

Is It Time to Sell This Popular Sector?

Sell tech stocks. Buy gold miners. This simple formula is our moneymaking advice for this year. Not that we have any new insight into technology... nor any way of knowing what is ahead for gold or for the companies that dig it out of the ground. Not at all. Our advice is based on ignorance, not knowledge. Not knowing...

Announcing Our Newest Campaign for Public Office

Markets closed yesterday. So, we turn our attention to other things. Our campaign to replace Ben Bernanke as the next head of the Fed went nowhere. The phone never rang. Instead, the post went to Janet Yellen, a woman who looks like she would make a nice fraternity housemother. But we haven't given up on a career in public...

Thank You, Congress…

How do you like those pols? The shackles of sequester were starting to chafe their ankles. So, what did they do? They got out the files and the bolt cutters! Yes, dear reader, we can stop worrying. Congress has no intention of cutting funding for America's zombies. The Federal Reserve, Congress's creation, has no intention of tapering QE. And...

This Market Is Priced for a Crisis… But There Is No Crisis

"You can't trust the Russians," was the warning. It came from a Moscow cab driver, delivered to our son Henry. We had sent him to investigate. From our point of view, it was an unnecessary caution. We never trusted the Russians anyway. Or the Chinese. Or the Democrats. Or wealth managers. Or General Petraeus. Or people from north of...

This Credit Event Could Crush the Stock Market

Now our nerves are settled. We can sleep at night. There's nothing more to worry about. Christine Lagarde, head of the IMF, has reassured us. Madame Lagarde tells us that further scaling back of QE won't mean a thing, as long as the Fed goes about its tapering in a gradual, measured way, which of course it will. "We...