Of course, there's a long list of things that aren't what they used to be - house prices, stocks, emerging markets, consumer spending, bank lending, Wall Street bonuses...and so forth. Our guess is that the list is going to continue to stretch.

With that, we say goodbye for today...we've got to get ready for the big party - at which, your author gets to make a fool of himself twice. First, when he gives a short welcome speech, in French...and again when he performs a few songs with the band. He is a terrible musician under any circumstances, but in front of a crowd, after a few drinks, he is pathetic.

Your editor has only two good qualities. As you know, he is extremely humble...even if he is insincere about it. More importantly, he also doesn't embarrass easily.

Bill Bonner
The Daily Reckoning Australia

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