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Bill Bonner

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Is an American author of books and articles on economic and financial subjects. He is the founder and president of Agora Publishing, and author of the daily financial column, Diary of a Rogue Economist.

April 21st, 2017 | Fed Will Blink

Bill Bonner's Diary - GUALFIN, ARGENTINA – The Dow rose 174 points yesterday. And Treasury Secretary Steve Mnuchin said we’d have a new tax system by the end of the year. Animal spirits were restless. But which animals? Dumb oxes? Or wily foxes? Probably both. But what caught our attention were the central bankers strutting across the yard and […]

Bill Bonner's Diary - GUALFIN, ARGENTINA – The Dow was down 118 points yesterday. It should be down a lot more. Of course, markets know more than we do. And maybe this market knows something that makes sense of these high prices. What we see are reasons to sell, not reasons to buy. Paycheck to Paycheck Nearly half of […]

Bill Bonner's Diary - CAFAYATE, ARGENTINA – The Dow fell about 100 points yesterday. It’s not hard to see why… Factory output dropped the most since last August, led by declining auto sales. Meanwhile, housing starts are at a four-month low. Bank loans are slipping. Commercial property is “rolling over.” Consumers have tapped out. And the Fed’s GDP growth […]

Bill Bonner's Diary - CAFAYATE, ARGENTINA – We drove down from the ranch yesterday to the tourism and wine town of Cafayate. With our own 4×4 truck, we could have easily made it through the pass where we got stuck two weeks ago. But the track was so rocky, we decided to avoid the wear and tear by taking […]

Bill Bonner's Diary - GUALFIN, ARGENTINA – Last week, we rounded up the cattle. For a more literary account of the yerra, here’s Elizabeth’s recollection of it, as sent to the children. This week, we round up the grapes. Delicate Sensibilities The gauchos will get off their horses tomorrow and begin the harvest. In a conciliatory gesture to our […]

April 15th, 2017 | Trump Is an Insider Now

Bill Bonner's Diary - GUALFIN, ARGENTINA – “U.S. stocks fall on Trump talk…” began a headline at Bloomberg. Or it may be Trump action. We had already counted six major campaign promises – including no O’care repeal and no “America First” foreign policy – already buried (some for the better). Then came four more major policy reversals on Wednesday. […]

April 14th, 2017 | Yipping and Yelling

Bill Bonner's Diary - GUALFIN, ARGENTINA – The full moon was still up in the west when we got up yesterday. We put on a pair of jeans, boots, a flannel shirt, a scarf, a sweater, gloves, and a hat. It was dark, but riders were already heading down the allée from the house toward the campo adentro – […]

April 12th, 2017 | Charged by an Enraged Bull

Bill Bonner's Diary - GUALFIN, ARGENTINA – Our annual roundup… or yerra… began yesterday. We go out on horseback early in the morning with our gauchos Gustavo, José, Samuel, and Natalio. Pedro has a bad back and no longer rides. The technique is simple: It takes two or three hours to get to the far end of the valley. […]

Bill Bonner's Diary - GUALFIN, ARGENTINA – By our calculation, it took just 76 days for President Trump to get on board with the Clinton-Bush-Obama agenda. Now there can be no doubt where he’s headed. He’s gone Full Empire. Not that it was unexpected. But the speed with which the president abandoned his supporters and went over to the […]

Bill Bonner's Diary - Day after day all the earth wearies, drooping unto death. — The Earthstepper GUALFIN, ARGENTINA – “Two of them called me Elizabeth,” said Elizabeth. She was referring to one of the cowboys’ wives and one of the local women. “And one of them sided with the originarios [the local indigenous people claiming property rights over […]

Bill Bonner's Diary - GUALFIN, ARGENTINA – “Bill, you are living in a dream world,” our local lawyer began (not using these exact words). “You are a smart guy. But you’re not that smart. You bought a marginal ranch. It’s getting more and more marginal every year. “Every year, we lose more money. You thought you were smart because […]

April 6th, 2017 | Fake News From the Fed

Bill Bonner's Diary - GUALFIN, ARGENTINA — Our adventure in the desert was “real news.” It happened. To us. Close in space and time, with little room for interpretation, it is about as close to the “truth” as we can get. What you see in the media, by contrast, is mostly “fake news.” Reuters had this story yesterday: Most […]

April 5th, 2017 | Doom Index Says Beware!

Bill Bonner's Diary - GUALFIN, ARGENTINA — We have not had any word from our attorney in the city of Salta, but we assume the case was dropped. Grand theft auto was the charge (catch up in full here). But the alleged wrongdoer, your editor, claimed his actions were motivated by stupidity, not criminality. Our ranch foreman Sergio came […]

Bill Bonner's Diary - GUALFIN, ARGENTINA – It took us 24 hours to get here… …during which time your editor drove 350 miles (mostly on dirt roads)… got stuck in the desert… took a long walk by starlight… and was wanted by the police… We will tell the story as it happened… March or Die There is a certain […]

Bill Bonner's Diary - GUALFIN, ARGENTINA – We arrived at the family ranch in northern Argentina last night… This morning, we rub the sleep from our eyes and look out the window. Whoa… it’s greener than we expected. We were in the second year of a disastrous drought. What happened? We’ll find out… Meantime… — Win-Lose Marriages “You know, […]

Bill Bonner's Diary - An object in motion tends to remain in motion… — Isaac Newton BUENOS AIRES – Day by day, the dots connect… the picture becomes clearer. And now we believe: The Fed will never voluntarily return to “normal” interest rates. Congress will never voluntarily cut spending more than a trifle. The empire will never voluntarily back […]

Bill Bonner's Diary - BUENOS AIRES – We got into Buenos Aires at about 10 p.m. We hadn’t had dinner. So we walked out of the hotel hoping to find a restaurant that was still serving. It was quiet in the Palermo Soho neighborhood. There were few people on the sidewalks. Even the cars bouncing over the cobblestones made […]

March 28th, 2017 | Jesus Was No Deep Stater

Bill Bonner's Diary - SÃO PAULO – We arrived on Sunday morning. São Paulo can have terrible traffic. It is a sprawling place of 12 million people. But it was early when we pulled into town; the traffic moved swiftly. We decided to go to mass at the old São Paulo (Saint Paul’s) Cathedral downtown. The area is a […]

Bill Bonner's Diary - Washington [is] a lot more broken than President Trump thought that it was. — White House Budget Director Mick Mulvaney SÃO PAULO, BRAZIL – On Friday, the much-hyped Trump/GOP Obamacare reform sank into the swamp. If anything keeps us from national bankruptcy, it won’t be entitlement reform. Not under Donald J. Trump. Next up, tax […]

Bill Bonner's Diary - RANCHO SANTANA, NICARAGUA – Yesterday, the House put off its vote on the Republicans’ medical care bill. Stocks barely moved. Used car prices dropped last month by the biggest amount since 2008. Homeownership hit a half-century low. Sears may no longer be a “going concern.” And discount footwear retailer Payless is preparing for bankruptcy. Deaths […]

March 23rd, 2017 | Picnics on Vesuvius

Bill Bonner's Diary - RANCHO SANTANA, NICARAGUA – Today could be a big day… The House is supposed to vote on the Republicans’ proposal to amend Obamacare. Most likely, it will fail. That will set back the entire Trump agenda. And it will make people wonder: If Trump can’t reform an unpopular and overly expensive medical care system, what […]

Bill Bonner's Diary - RANCHO SANTANA, NICARAGUA – The Dow fell 237 points yesterday, or about 1%. Are investors finally noticing? There will be no “shovel-ready” infrastructure spending in 2017… and no quick tax fix for the economy. This means that the “reflation trade” won’t pay off… at least not as expected. Stay tuned… Meaningless and Misleading Meanwhile… we […]

March 21st, 2017 | An Empire Is Hard to Stop

Bill Bonner's Diary - RANCHO SANTANA, NICARAGUA – Yesterday, the Dow retreated slightly. But it is still near its all-time high of 21,000 points. And by many measures, U.S. stocks have never been more expensive. Meanwhile, bullish sentiment among investment advisers is at a 30-year high. Consumers are more confident than they’ve been in the last 16 years. And […]

March 20th, 2017 | Deep State Über Alles

Bill Bonner's Diary - Money makes the world go around It makes the world go ’round. – “Money,” Cabaret RANCHO SANTANA, NICARAGUA – We started out last week with the best of intentions. We were going to take a rest and spend time recalling what we have learned so far. The idea was to bring new readers into the […]

Bill Bonner's Diary - RANCHO SANTANA, NICARAGUA – Yesterday, coming back from Granada with a driver, we learned a little about how the Nicaraguan economy works. [Editor’s Note: You can see pictures from Bill’s travels around Nicaragua after the annual Bonner & Partners Family Office meeting, right here.] We were passing shacks of all varieties and various levels of […]
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