Bill Bonner's Diary


Dogs Don’t Vote…

Editor's Note: Will Bonner here, publisher of Diary of a Rogue Economist. Dad is taking time off from writing his regular Diary entries this week. In the meantime, here's a classic from the archives. Enjoy! Will As many as 50,000 stray dogs roam the streets and vacant homes of bankrupt Detroit, replacing residents, menacing humans who remain and overwhelming...

Give Thanks to ‘The 1%’

The Dow rose 40 points on Friday. Gold recovered 10 of the 40 bucks it lost the day before. This week, a hush falls over Christendom. Office phones ring, with no one to answer them. Stockbrokers, waiting to score a few more commissions before the end of the year, give up and go home. The malls, flush with shoppers...

A Vicious Collapse in Gold?

Not much follow-through from Wednesday's Fed euphoria in the US stock market yesterday. Investors are drifting away, preparing for the holidays. Dow up only 11 points. But, whoa! What's this? Gold took a pounding yesterday. It fell $41, to close below $1,200 an ounce. Remember when gold began its correction from over $1,900 an ounce? We guessed the correction...

Fed to America: ‘QE Scam Will Continue’

The Dow jumped 292 points yesterday. Investors took to the Fed's announcement like children to Santa Claus. They rubbed their eyes and saw a big present under the tree: No real tapering... no time soon. Said Ben Bernanke, "Highly accommodative monetary policy remains appropriate." Our friend David McWilliams – one of the few Irish economists to see the big...

The Fed’s Big Lie

The Dow was flat yesterday... Gold went nowhere, too. The yellow metal trades at $1,235 an ounce at writing. Let's see what Larry Summers has to say. We always appreciate Summers. His mind is razor-sharp – always cutting straight to the wrong conclusion. "Why stagnation might prove to be the new normal," is the headline of his piece in...

The Real Numbers Behind America’s Phony Recovery

Tomorrow is the big day. Investors are on the edges of their seats, waiting to find out what the Fed will do. Taper? No taper? Or maybe it will taper on the tapering off? Our guess is the Fed will not commit to a serious program of reducing its support to the bond, equity and housing markets. It's too...