Author Archives: Bill Bonner

     

 

 

Bezzle

BALTIMORE –  Barron’s, in a lather, says the market is facing the “Two Horsemen of the Apocalypse.” Huh?

 

Apocalypse_vasnetsovOnly two? There were four last time!

 

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Blame “Brexit”

BALTIMORE – The U.S. stock market broke its losing streak on Thursday [and even more so on Monday, ed.]. After five straight losing sessions, the Dow eked out a 92-point gain. The financial media didn’t know what to say about it. So, we ended up with the typical inanities, myths, and claptrap.

 

1-Brexit Industrials Average“Investors” are pushing the DJIA back up again..apparently any excuse will do at the moment. The idea may backfire though, as exactly the same thing happened shortly before Sweden’s euro referendum (a prominent pro-euro politician was killed by a “lone nut” a few days ahead of the vote), and Sweden still had the krona last we looked… – click to enlarge.

 

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Myths Are Worth Wondering About

Wondering is what we do, here at the Diary, especially wondering about myths. “Myths” are not necessarily untrue. They just can’t be known or proven in the way, say, that Archimedes could prove that the king’s crown was made of gold.

  437103_archimedes   Antiquity’s most famous patent troll Archimedes shortly after his famous epiphany in the bathtub

 

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Bold Prediction

  1. MICHAELS, Maryland – The flag in front of our hotel flies at half-mast. The little town of St. Michaels is a tourist and conference destination on the Chesapeake Bay. It is far from Orlando, and even farther from Daesh (a.k.a. ISIL) and the Mideast.

 

Looking north on North Talbot Street, retail district of Saint Michaels, MDSt. Michaels, Maryland – the town that fooled the British (they say, today).

Photo credit: Fletcher6

 

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Believe It Or Not… There Actually Is Some Downside Risk

BALTIMORE – Not much action in the stock market last week. A few little steps ahead to over the 18,000 line for the Dow. Then a few little steps back. Currently  the index sits at 17,732.

 

1-DJIAThe Dow Jones Yawn Average, daily, plus a special message by Auntie Janet to the punters. Soon they may need an extra dose of Prozac too though – click to enlarge.

 

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Hero or Traitor?

 

And it’s one, two, three,

What are we fighting for?

Don’t ask me, I don’t give a damn,

Next stop is Vietnam;

And it’s five, six, seven,

Open up the pearly gates,

Well there ain’t no time to wonder why,

Whoopee! We’re all gonna die.

Country Joe McDonald

 

mcnamara_650-1Robert McNamara, next to a map of Vietnam…in 1964 he participated in propagating the “Tonkin incident” lie, a false flag incident which drew the US openly into the conflict (previously “US advisors” had been fighting covertly in Vietnam). By 1968 he became disillusioned and decided to resign – another million people died after he had left the scene.

Photo credit: AP

 

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Battle of Wits 

BALTIMORE – On Wednesday, the Dow rose over 18,000, for the first time since April. Hillary is riding high, too. She is a pro. She has the entire Deep State behind her – including almost every crony and zombie in the country – and a political machine that can turn out more claptrap than any in history.

 

kool-aidGive it to us, oh Deep State minion!

 

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Home of the Brave?

BALTIMORE – It is a bright summer day outside. A dry breeze sweeps down Cathedral Street and blows away the hot, humid air.

It is hard for us to imagine that anything bad could happen today. But bad things do happen – even on nice days. The weather was fine when General Custer rode out to the Little Bighorn, too.

 

custer-indians1“A fine day today, boys, innit? Let’s go and waste that Crazy Horse dude.” General Custer and his Indian scouts, shortly before everything goes decidedly pear-shaped.

Photo via heise.de

 

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Muhammad Ali Could Take a Punch

BALTIMORE – You had to admit. Muhammad Ali could take a punch. Unlike Donald Trump, Dick Cheney, George W. Bush, and Bill Clinton, he was a real war hero. He stood up and faced his enemies on the draft board, rather than dodging them.

 

Muhammad-Ali

 

An iconic photograph: Muhammad Ali after knocking out Sonny Liston.

Photo credit: John Rooney / Associated Press

 

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From Subject to Citizen

BALTIMORE – June 5th, the Swiss cast their votes and registered their opinions: “No,” they said. We left off yesterday wondering why something for nothing never works. Not as monetary policy. Not as welfare or foreign aid. Not in commerce. Not never, no how. But something for nothing is what people most want.

 

nothingThe future Switzerland just managed to dodge… for now

 

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Destroying Lives

BALTIMORE – A dear reader reminded us of the comment, supposedly made by Groucho Marx: “A free lunch? You can’t afford a free lunch.”

 

Groucho-Marx_Groucho dispensing valuable advice

Photo via imdb.com

 

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Preposterous Initiative

BALTIMORE – No whining and kvetching about the Deep State today. Instead, we sit at its feet, admire the cut of its jaw, and sing its praises. We are grateful to it… and not just as a source of amusement. In short, we delight in its incompetence.

 

o-gigantas-toy-karntif-750x400Excavation of the “Giant of Cardiff” – but there are even more giant, more amusing and more far-reaching frauds on offer these days…

Photo via paranormicstv.com

 

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Most read in the last 20 days:

  • tintedFree Money Leaves Everyone Poorer
      Destroying Lives BALTIMORE – A dear reader reminded us of the comment, supposedly made by Groucho Marx: “A free lunch? You can’t afford a free lunch.”   Groucho dispensing valuable advice Photo via imdb.com   He was responding to last week’s Diary about the national referendum in Switzerland on Saturday. Voters will decide whether to give all Swiss residents a free lunch – a guaranteed annual income of about $30,000 a year [ed note: the initiative was...
  • French labour union workers and students attend a demonstration against the French labour law proposal in Marseille, France, as part of a nationwide labor reform protests and strikes, March 31, 2016. REUTERS/Jean-Paul Pelissier/File PhotoHow the Welfare State Dies
      Hollande Threatens to Ban Protests Brexit has diverted attention from another little drama playing out in Europe. As of the time of writing, if you Google “Hollande threatens to ban protests” or variations thereof, you will find Russian, South African and even Iranian press reports on the topic. Otherwise, it's basically crickets (sole exception: Politico).  Gee, we wonder why?   They don't like him anymore: 120.000 protesters recently turned Paris into a war zone. All...
  • offendFree Speech Under Attack
      Offending People Left and Right Bill Bonner, whose Diaries we republish here, is well-known for being an equal opportunity offender  - meaning that political affiliation, gender, age, or any other defining characteristics won't save worthy targets from getting offended. As far as we are concerned, we generally try not to be unnecessarily rude to people, but occasionally giving offense is not exactly beneath us either.   The motto of the equal opportunity...
  • cameron-doomedMoving Closer to BREXIT
      Polls Show Growing Support for a Break with the EU In the UK as elsewhere, the political elites may have underestimated the strength of the trend change in social mood across Europe. The most recent “You-Gov” and ICM pools show a widening lead in favor of a UK exit from the EU as the day of the vote comes closer.   Pro-BREXIT campaigners Boris Johnson (ex-mayor of London) and Michael Gove (UK Secretary of Justice) are in a good mood. Photo credit: Paul Grover /...
  • water houseA Market Ready to Blow and the Flag of the Conquerors
      Bold Prediction MICHAELS, Maryland – The flag in front of our hotel flies at half-mast. The little town of St. Michaels is a tourist and conference destination on the Chesapeake Bay. It is far from Orlando, and even farther from Daesh (a.k.a. ISIL) and the Mideast.   St. Michaels, Maryland – the town that fooled the British (they say, today). Photo credit: Fletcher6   Out on the river, a sleek sailboat, with lacquered wood trim, glides by, making hardly a...
  • The-answer-is-yesToward Freedom: Will The UK Write History?
      Mutating Promises We are less than one week away from the EU referendum, the moment when the British people will be called upon to make a historic decision – will they vote to “Brexit” or to “Bremain”? Both camps have been going at each other with fierce campaigns to tilt the vote in their direction, but according to the latest polls, with the “Leave” camp’s latest surge still within the margin of error, the outcome is too close to call.   The battle lines are...
  • nails-in-a-bed-of-nails-new-yorker-cartoonGoing... Going... Gone! The EU Begins to Splinter
      Dark Social Mood Tsunami Washes Ashore Early this morning one might have been forgiven for thinking that Japan had probably just been hit by another tsunami. The Nikkei was down 1,300 points, the yen briefly soared above par. Gold had intermittently gained 100 smackers – if memory serves, the biggest nominal intra-day gain ever recorded (with the possible exception of one or two days in early 1980). Here is a picture of Haruhiko Kuroda in front of his Bloomberg monitor this...
  • MACAU, CHINA - JANUARY 28: Buildings of Macau Casino on January 28, 2013, Gambling tourism is Macau's biggest source of revenue, making up about fifty percent of the economy.What Could Possibly Go Wrong?
      A Convocation Of Gamblers The Wall Street Journal and BloombergView have just run articles on the shadow banking system in China.  This has put me in a nostalgic mood. About 35 years ago when I was living in Japan, I made a side trip to Hong Kong.   Asia's Sin City, Macau Photo credit: Nattee Chalermtiragool   I took the hydrofoil to Macau one afternoon and the same service back early the next morning.  On the morning trip, I am sure that I saw many of the...
  • tree removal permit-1The Real Reason We Have a Welfare State
      From Subject to Citizen BALTIMORE – June 5th, the Swiss cast their votes and registered their opinions: “No,” they said. We left off yesterday wondering why something for nothing never works. Not as monetary policy. Not as welfare or foreign aid. Not in commerce. Not never, no how. But something for nothing is what people most want.   The future Switzerland just managed to dodge... for now   The Swiss voted against awarding all citizens a “universal basic...
  • queen_gold-840x501Rule Britannia
      A Glorious Day What a glorious day for Britain and anyone among you who continues to believe in the ideas of liberty, freedom, and sovereign democratic rule. The British people have cast their vote and I have never ever felt so relieved about having been wrong. Against all expectations, the leave camp somehow managed to push the referendum across the center line, with 51.9% of voters counted electing to leave the European Union.   Waving good-bye to...
  • junkThe Problem with Corporate Debt
      Taking Off Like a Rocket There are actually two problems with corporate debt. One is that there is too much of it... the other is that a lot of it appears to be going sour.   Harvey had a good time in recent years...well, not so much between mid 2014 and early 2016, but happy days are here again! Cartoon by Frank Modell   As a brief report at Marketwatch last week (widely ignored as far as we are aware) informs us:   “Businesses racked up debt in the...
  • saupload_loves-me-loves-me-notA Darwin Award for Capital Allocation
      Beyond Human Capacity Distilling down and projecting out the economy’s limitless spectrum of interrelationships is near impossible to do with any regular accuracy.  The inputs are too vast.  The relationships are too erratic.   The economy - complex and ever-changing interrelations. Image credit: Andrea Dionne   Quite frankly, keeping tabs on it all is beyond human capacity.  This also goes for the federal government.  Even with all their data gatherers and...

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