“The big deal is that we’re going broke,” we explained. “Until very recently debts of this magnitude were always associated with war. From time to time countries went broke. But they almost always did so because of emergency expenses driven by war. In other words, they were spending money for what looked like a very good reason – self preservation.
July 2nd, 2010 | Bill Bonner | 2 comments | ContinuedAll Posts Tagged With: "WWII"
Greenspan and His Fed Were Wrong 90% of the Time
Mr. Greenspan defended his legacy. He was right 70% of the time, he said. The other 30% of the time he was wrong.
April 12th, 2010 | Bill Bonner | 1 comment | Continued
Government is Still Misleading and Economists are Still Mis-interpreting
Mainstream economists and mainstream financial media tell us that the worst is over…that the ‘recession’ has passed…and that things are getting back to normal.
March 18th, 2010 | Bill Bonner | 1 comment | Continued
The Day the Japanese Attacked Pearl Harbor
This day is remembered as the “day that will live in infamy,” in American history. It is the day when the Japanese attacked the US naval base at Pearl Harbor.
December 8th, 2009 | Bill Bonner | 19 comments | Continued
Optimists Expect Mild Inflation in a Decent Recovery
Pessimists fear the feds may have waited too long; they think they see higher rates of inflation coming. Here on the back page we see no recovery…nor any inflation.
December 7th, 2009 | Bill Bonner | 3 comments | Continued
Only Thing Rising Faster than Demand for Government Debt is Supply of It
All major governments of the West – and Japan – are now borrowing as if their lives depended on it.
November 30th, 2009 | Bill Bonner | 0 comments | Continued
Bankers Betting That the Money Given by Feds Will Be Worth Less Next Year
So far the bet has gone their way. Copper has doubled. Gold is up 20%. Stocks markets all over the world are up 60%. Foreign currencies, too, have beaten the dollar.
October 27th, 2009 | Bill Bonner | 2 comments | Continued
When it Comes to Economic Health, Nothing Beats a Depression
According to a pair of researchers from the University of Michigan, a depression does more for longevity than diet or exercise.
October 5th, 2009 | Bill Bonner | 0 comments | Continued
Jim Grant Declares Boom is Nigh
What is remarkable about the Grant conversion is that his vision gives off so little heat and light. His WSJ article shillyshallies around; rehearses the history of previous recessions…
September 28th, 2009 | Bill Bonner | 0 comments | Continued
Kennedy and Public Service
The Kennedy brothers could have lived comfortably all their lives on their father’s liquor money. Instead, they took up the banner of ‘public service’ and wrapped themselves in it so tightly it suffocated them all. The oldest of the band was killed in WWII.
September 2nd, 2009 | Bill Bonner | 5 comments | Continued
World Economy Has Never Been in a Fix Like This
What we suspect is that the upward trends of the last half a century have now reversed. We’re in a period when the excesses and mistakes of the boom/bubble period must be corrected.
September 1st, 2009 | Bill Bonner | 7 comments | Continued
Household Debt Represents Spending Taken From the Future
But you can’t take an infinite amount from future earnings. You reach a point when the future can’t handle it. As more and more future earnings are absorbed by past consumption, pretty soon there’s not enough left to live on. At some point, so much of earnings are devoted to paying the interest…
August 11th, 2009 | Bill Bonner | 3 comments | Continued
A Life More Simple
“People were so much more modest. I had a job at Bergstrom Air Base in Texas…[she was in the WACs]; we would show movies to the soldiers who were going overseas. Some of the movies reminded them not to talk to people about where they were going…
August 10th, 2009 | Bill Bonner | 1 comment | Continued
When Gold Ruled the Earth, Part II
“It took three generations,” wrote a professional metals consultant in Feb. 2009, “but we now seem to have reached the point in the world’s history where, for the first time, gold is valued only for jewelry use and speculation.
April 27th, 2009 | Adrian Ash | 0 comments | Continued
