Bill Bonner's Diary

You Can’t Buy Prosperity…

Gold rose $24 per ounce yesterday. The Dow fell 12 points. The smart money is using this dip to buy gold. Why? Because the world’s major stock markets… currencies… and economies all depend on reckless measures by central banks. In the short run, the central banks can make things appear safe and stable. How? By […]

The Siege of Vicksburg

"The Battle of Vicksburg was the turning point of the war," explained the guide at the Old Court House Museum in Mississippi. "The whole economy of the South west of the Appalachians depended on the Mississippi River. That's how we got our food and cotton to market. We floated it down the river to New Orleans.

God’s Blessings on You…

The Old South was bigoted, backward and dry. The New South is prosperous, progress oriented and open to suggestion. We can confirm the prosperous part. Everywhere you look, there are new cars on new roads going to new malls and buying new stuff. At least, everywhere within 50 miles of the new Nissan plant in Canton.

Has Dr. Bernankenstein Created a New Monster?

Even dumbbell economists believe lower deficits are bad news... but for an entirely different reason. They believe lower deficits will reduce GDP and jobs. They think the only reason the economy is doing so well is that the feds have been willing to spend money they didn't have on things they didn't need.