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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.

Bill Bonner's Diary - Something is rotten in the state of Denmark. – William Shakespeare, Hamlet POITOU, FRANCE – Every week, we reach new heights of weirdness: …the worldwide total of debt trading at negative interest rates rose to $17 trillion… …nearly 15% of S&P 500 companies no longer earn enough money to even cover the interest on their loans… […]

Bill Bonner's Diary - One day, the China trade imbalance is such a national emergency that you’re willing to disrupt hundreds of billions in world trade and risk a global recession to set it right. The next, you call it off because it might interfere with the Christmas shopping season. That was the big news yesterday. Once again, Trump […]

Bill Bonner's Diary - POITOU, FRANCE – Yesterday, stocks traded down. Investors are getting spooked by high bond prices (low yields). MarketWatch: The yield for the longest-dated Treasury bond is now a hair’s breadth away from plumbing its lowest level in history. Investors said the $22 trillion U.S. government debt market was now approaching this key milestone on a […]

Bill Bonner's Diary - POITOU, FRANCE – Watch out, Dear Reader, this could be a tough week for investors. Investor’s Business Daily reports: Dow Jones futures sold off sharply Sunday night, along with S&P 500 futures and Nasdaq futures, as China’s yuan tumbled to a record low. That follows a tough week for the current stock market rally as new […]

Bill Bonner's Diary -   PARIS – Oh boy… Paris is in for a real scorcher. The temperature is rising… and is expected to crest at 108 degrees on Thursday, a new record. Tourists wilt. The streets are empty. Shutters are closed against the sun during the day… and open wide for whatever cool air the night offers. We’re […]

Bill Bonner's Diary - YOUGHAL, IRELAND – Once again, a beautiful summer day here in Ireland. But we have no time to smell the flowers. It’s Inflate or Die, the new era that began, more or less officially, in May of this year. It was then that the Fed abandoned any pretense of sensible monetary policy and looked for […]

Bill Bonner's Diary - In this hard world we have to earn before we spend. – John James Cowperthwaite, British civil servant and former financial secretary of Hong Kong YOUGHAL, IRELAND – The week is ending as it began, with a cacophony of numbskulls. Yesterday, one of them – speaking to his empty-headed brethren – gave out more wrong-headed, […]

Bill Bonner's Diary -   DUBLIN – Our little galaxy pals were scratching their juicer heads. Negative rates… financialization… backasswards time, something from nothing… They are affronts to God and Nature… breaches of the laws of physics and the universe… and invitations to economic catastrophe. Why would anyone believe they could stimulate an economy with fake money? Or that a small […]

Bill Bonner's Diary - YOUGHAL, IRELAND – It’s a beautiful day here in Ireland. People are out and about, wearing shorts and T-shirts. “This is an Irish summer,” a carpenter explained. Sunny skies. Flowers in bloom. Top temperature: 66 degrees. Construction Site We moved into our house a week ago. But it is still a construction site. Every morning […]

Bill Bonner's Diary - PORTLAW, IRELAND – Yesterday, once again, the Dow rose in the morning – on news that a deal with China was 90% done – and fell later, as investors realized that they couldn’t believe anything that came out of Washington. Meanwhile, the president of the United States of America says he’d rather have a European […]

Bill Bonner's Diary - DUBAI – “What do people do here?” we asked a local. “Well, they go out to dinner. And they go shopping. We have the nicest malls in the world.” The whole city depends on air-conditioning. Without it, it would be uninhabitable… like Antarctica. Or West Baltimore. Yes, there were people here before AC was invented, […]

Bill Bonner's Diary - YOUGHAL, IRELAND – Two newsworthy things happened on Friday. As to the first, we were right after all. Mr. Trump isn’t going “Full Retard” in his trade war. At least, not with Mexico. His dramatic declaration of an escalating tariff… until the flow of illegal immigrants “STOPS”… must have been just another of the showman’s […]

Bill Bonner's Diary - DUBLIN, IRELAND – Stocks couldn’t decide where to go yesterday. Up? Down? So, they went nowhere. Nowhere is about as good as it gets in this market. Because signs of an impending slowdown are arriving in the news every day. The latest item was a sharp drop in the Purchasing Managers’ Index (PMI), which measures […]

Bill Bonner's Diary - YOUGHAL, IRELAND – There are three important decisions in life: What you do… with whom you do it… and where you do it. What. Who. Where. Keep it simple. And you only have a limited amount of time; you want to make sure you get those basics right. Otherwise, you arrive as one of those […]

Bill Bonner's Diary - LONDON – We first came to London a half-century ago. Back then, the city was tired and drab. We stayed in a hotel, where we had to put coins in a heater to get any warmth and use the bathroom down the hall. Now, London is a different city, full of young people, energy, and […]

Bill Bonner's Diary - PARIS – Wall Street continued its recovery yesterday, the Dow rising 116 points. Investors believe – as we do – that the trade war will blow over… or at least calm down into tweety skirmishes. The Donald himself is already backing off, calling it only a “squabble.” The Trump administration also signaled that it would […]

Bill Bonner's Diary - PARIS – Wall Street continued its recovery yesterday, the Dow rising 116 points. Investors believe – as we do – that the trade war will blow over… or at least calm down into tweety skirmishes. The Donald himself is already backing off, calling it only a “squabble.” The Trump administration also signaled that it would […]

Bill Bonner's Diary - In the fire of spring Your winter garment of repentance fling: The bird of time has but a little way To flutter – And the bird is on the wing. – Omar Khayyám, Rubáiyát PARIS – We are sitting at a sidewalk café in the 7th arrondissement. The sun is shining. People come and go; endless streams from the […]

Bill Bonner's Diary - YOUGHAL, IRELAND – We bet that Trump would never go full retard in his trade war with China. Were we wrong? Maybe.   Out of the Money Last week, our no-real-trade-war bet was moving further and further out of the money. Team Trump didn’t yet go full retard, but – raising tariffs on $200 billion of Chinese […]

Bill Bonner's Diary - YOUGHAL, IRELAND – World stock markets are already down more than $2 trillion – supposedly on “trade war worries.” And now, Friday has come. Tariffs have gone up. $200 billion worth of Chinese imports now face levies of 25%, up from 10%. And the trade negotiations with China continue. Foreign markets are selling off a […]

May 5th, 2019 | Are We Finally Beaten?

Bill Bonner's Diary - YOUGHAL, IRELAND – Sound a recall! Spike the cannon! Haul down the colors! Sauve qui peut! Yes, it’s time to turn tail and run. We’re outnumbered. Outgunned. Outfoxed. Outmaneuvered. And outsmarted.   Fighting Claptrap We’ve been writing this Diary (previously known as the Daily Reckoning) for the entire 21st century… and then some. Our battle has never been […]

Bill Bonner's Diary - PORTLAW, IRELAND – Yes, Dear Reader… markets are unpredictable. But you always know which way politicians will go; they will take the low road.   Big Hit Which is why MMT is going to be a big hit in Washington – with both parties. Recall that MMT (Modern Monetary Theory) states that governments can, and should, print […]

Bill Bonner's Diary - DUBLIN, IRELAND – We’ve made three bold predictions in this space: The Fed would never voluntarily normalize monetary policy. The Donald would never go Full Retard on his trade war with China. Republicans and Democrats would both come to embrace Bernie Sanders’ Modern Monetary Theory (MMT).   So Far, So Good As to the first – check. […]

Bill Bonner's Diary - YOUGHAL, IRELAND – Financialization is our subject… What is it? How does it happen? Does it matter? Who cares? Let’s begin with the last question: Who cares? Answer: Nobody… until it blows up.     Fantasy World Financialization creates a fantasy world… funded by a mis-priced, rigged credit market. Here is how. Imagine that you are 12 […]

Bill Bonner's Diary - YOUGHAL, IRELAND – “Really… at your age… you should know better.” We had just come back from working on our derelict cottage on Sunday. We were recounting a heroic tale, with your editor as its leading man. We explained how we were setting roof rafters in place, walking along the top of the wall, when […]
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