Yesterday, it felt like all hell was breaking loose. It was the kind of day when each man looked to his own. He checked his bank balance and his margin account. He counted his gold coins and looked in his liquor cabinet. He wondered what would happen next... The Dow fell -353 points. Gold lost $87 an ounce. What...
From the Desk of Will Bonner:
There'll be no Thursday entry from Bill Bonner today.
Dad is on the road again after his recent trip to Ireland... and the Bonner roots.
He'll be back with you tomorrow.
In the meantime, here is a classic Diary entry.
Nothing worthy of comment happened in the markets yesterday. So we continue our travelog. We left the winter gales of Scotland for the warm breezes washing over West Cork in Ireland. The only trouble was the breezes carried more water than warmth. After a day of sightseeing along the coast, we found ourselves in a small store in Kinsale.
Where things stood at the close of last week: Dow down 105. Gold up $9 an ounce. Nothing worthy of comment, in other words. But those who think the world is warming up should visit Edinburgh. It is a city made of stone. Yellow stone. Brown stone. Almost black stone. Almost every building is built of stone. And the...
Up, down. Down, up. Yesterday, the Dow reversed recent declines. It rose 180 points. Gold, too, seems undecided as to what direction to take. It fell $14 an ounce. We'll carry on... trying to figure out what is really going on. The typical post-war boomer has lived with just one complete interest rate cycle. Rates hit a low after...
Middle-class savers, for example, are penalized so that upper class bankers and speculators – no matter how greedy or reckless – can stay in business. Small businesses, too, are starved of the resources they need so that big businesses can continue making campaign contributions...
Last week, we attended a conference for the 1%. "Everybody thinks the rich have such easy lives," said a psychologist and family therapist. "But you wouldn't want the lives that a lot of 1% have. They're often so cut off from meaning in their lives... from the warmth of normal relationships... and from the psychological rewards of just having...
