Bill Bonner's Diary


Wanton Economic Vandalism

Dow down 94 points yesterday. Gold was flat. Yesterday, we drove out to the country. We had rented a mini-excavator over the weekend and needed to return it. It had gotten stuck in the ditch we were digging. So, a giant bulldozer had to be called onto the job to get it out. What were we doing with an...

Bitcoin 2.0

Stocks backed off a little yesterday. Gold fell another $28, bringing it to $1,221 an ounce. Where could gold go from here? Aw, c’mon… you know. Up or down. Down or up. Or, of course, sideways. The most deflationary analysts, such as Robert Prechter, are looking for a bottom for gold below $500 an ounce. The most bullish gold...

Three Major Market Events That WILL Happen

Thanksgiving is now out of the way. We can move on to Christmas. And New Year’s Eve. And then 2014. And 2015. And onward into the future! But what’s in the future? If only we knew… Making predictions is tough… especially when we have no idea what to expect. But wait… Some of the most important things we will see in the...

Extremely Normal

Dow flat. Gold flat. Everything flat in preparation for Thanksgiving. “Thanksgiving is probably the most important American holiday,” we explained to our Australian visitor. “People travel to be with their families. Everybody looks forward to it. You don’t have to decorate. There’s no music associated with it. No religious doctrines. There’s no pressure to shop for presents… and no...

Stag-Nation?

Gold flat. Dow flat. What’s not flat? Our friend Hugh Hendry. He’s either up or down. No flatness for Hugh. Hugh – who runs London-based hedge fund Eclectica Asset Management – has been among the most bearish of bears. But now he’s become the most bullish of bulls. Eclectica is losing money. Reluctantly, Hugh has capitulated in dramatic fashion....

America’s New Growth Sector: Poverty

“Don’t bother coming to the US this week,” we told a colleague in Britain. “Hanukkah begins on Tuesday. Thanksgiving is on Thursday. Then everyone goes shopping. The week will be a total loss from a business standpoint.” But this is a big week for retail. It’s the start of the holiday season. Americans will “shop until they drop.” Or...

The Cryptocurrency Revolution

The Dow closed over 16,000 yesterday. Glory hallelujah! Onwards and upwards…from now and for all eternity. Oh, dear reader, tears came to our eyes as the bell rang and we reflected on the majestic delusion that drives stocks higher and higher, day after day, to some breathtaking pinnacle. Thirteen years ago, the value of America’s capital stock – as...