Mês: agosto 2020

No Way Out

Economic Demise of One   Emma Walsh Aug. 30, 2020   Still locked down in Argentina, with no sign of imminent escape, Bill is throwing himself into ranch life… and learning as much as he can from the situation he finds himself in. Some lessons are learned the hard way… like how to stop a cow from bloating (and dying). Others, like how to destroy an economy with government policy, are more evident. As it turns out, Argentina is the ideal case study. But it’s not looking likely the feds back home will pay much attention in this class… They’re too busy cranking up their printing presses in the run up to the election… Regards, Emma Walsh Managing Editor, Bill Bonner’s Diary   No Way Out of the Calchaquí A week ago, it looked like your editor’s pleasant confinement in Argentina was coming to an end. But with cases in the region’s capital, Salta City, on the rise, the province finds itself back in lockdown… How to Keep a Cow From Bloating In response to a good-natured ribbing from a dear reader, who called Bill a “drugstore cowboy,” our editor admits that when it comes to ranching, how to keep a cow from bloating is the least of what he doesn’t know. Argentine Paradox: What Can We Learn? Today, our editor turns his eyes away from the looming disaster...

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First the loot, now inflation

The End Is in Sight   Emma Walsh Aug. 23, 2020   It’s an election year. So politicians from both sides are trying to outdo each other in terms of how much they can do for voters. Which means the money-printing presses won’t stop any time soon… But even if we could somehow get the feds to see the error of their ways and switch them off, the inflation train is already on its way out of the station… And once it starts chugging along, it’s hard to stop it from going out of control. Regards, Emma Walsh Managing Editor, Bill Bonner’s Diary   A Fireside Chat About COVID-19 To start the week, our editor imagines the conversation President Trump should have with the nation about how we progress in the era of COVID-19. Nice and simple – no big words or complex ideas. Over-promise and Over-spend Rarely does a politician who promises to cut back on the free stuff voters enjoy have a successful career in politics. Especially in an election year. So it’s unlikely President Trump will stop the printing presses now. The Rich “Take the Knee” The gap between the rich and the not-rich is attracting more and more attention. And much like white people trying to atone for their whiteness, rich people are now trying to save their necks. On the Trail of Stolen Property...

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Aplenty

No End to the Boondoggles and Bailouts   Emma Walsh Aug. 16, 2020   “When the poor shall have nothing more to eat, they will eat the rich.” It seems 18th-century philosopher Jean-Jacques Rousseau’s prediction might be coming true… To protect the boondoggles and bailouts they’ve become accustomed to, the elites will happily feed “the rich” to the hungry masses… Regards, Emma Walsh Managing Editor, Bill Bonner’s Diary   More Nothing Than Something Congress can’t agree on the details of the next COVID-19 stimulus package. So, ignoring the people’s representatives… and the Constitution… President Trump will do it by “executive order.” America Is Gunning Up The feds are “transferring” more money than previous generations even dreamed of – money they don’t have. So as Americans stock up on guns and ammo, the feds fire up their printing press… Get Out Your Forks and Knives! The social contract – the generally accepted principles that bind rich and poor together – is giving way. So those on the bottom rungs of society are shifting the blame for a corrupt system onto the group everyone loves to hate: The rich… Nothing Is Off the Menu Today, as Republicans and Democrats still bicker over their outrageous stimulus options, our editor imagines a world where we go “cold turkey.” Think no more stimulus. No more deficits. No more counterfeiting. A Week of Accidents, Breakdowns,...

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Largesse

Who Is Paying for the Government’s Largesse?   Emma Walsh Aug. 9, 2020   The feds’ generosity knows no bounds… The “transfer” payments’ total for the year is looking likely to hit $12 trillion. That’s a lot of zeros. But with a shrinking economy and record unemployment, the entire U.S. labor force will only earn $8.6 trillion this year. So who’s paying for the government’s largesse? Regards, Emma Walsh Managing Editor, Bill Bonner’s Diary   America, Move Over… There’s a New #1 America’s reign at the top of the pile is at an end. What went wrong? Is COVID-19 to blame? Not according to our editor, who says the train left the station long before the virus appeared on the horizon. Not Robbing Peter to Pay Paul Today, our editor takes a closer look at the transfer payments keeping the system afloat. Where is the money coming from? And where, exactly, is it going? $12 Trillion in “Transfers” in 2020 The feds will dole out about $12 trillion in transfers this year. There’s no real wealth behind this printing-press money. It’s essentially worthless. But it can still be used to buy real stuff. So it is something and nothing at the same time. How can this be? From the Sacred to the Profane Bill attends an ancient religious ritual in the Calchaquí Valley… But the matter of the rocketing...

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Free-For-All

Fake Money Free-For-All   Emma Walsh Aug. 2, 2020   The Federal Reserve’s seemingly bottomless reservoir of money is funding the fights against poverty… drugs… terrorism… COVID-19… and even racism. Thanks to the 24/7 printing press, the honest money system – which forces the feds to weigh costs against benefits – has gone out the window. It’s a fake-money free-for-all. So while gold is racing to new highs… and stock investors are ignoring the damning economic reports… Bill is devising interesting ways to give away the Fed’s fake money… Regards, Emma Walsh Managing Editor, Bill Bonner’s Diary   You Get What You Don’t Pay For According to Bill, the total cost of the war on COVID-19 could hit $10 trillion over the next three years. But no one is asking the most obvious question – who is going to foot the bill? The answer, of course, is clear – no one. The Fed’s printing press will take care of it. The White Wind Bill’s former ranch foreman, Jorge, tells the story of a treacherous cattle drive across South America’s Cordillera mountain range… a brutal and difficult undertaking that resulted in the loss of life and limb. Is This “Peak Gold”? Gold just hit a new all-time high. But some forecasters reckon it’s the end of the road for this precious metal. Today, our editor explains why the peak for...

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