Last week, we were looking at who pays unpayable federal debt. As we studied the subject, a whirlwind of staggering news blew up.
Since founding Agora Inc. in 1979, Bill Bonner has found success and garnered camaraderie in numerous communities and industries.
A man of many talents, his entrepreneurial savvy, unique writings, philanthropic undertakings, and preservationist activities have all been recognized and awarded by some of America’s most respected authorities.
Along with Addison Wiggin, his friend and colleague, Bill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. Both works have been critically acclaimed internationally.
With political journalist Lila Rajiva, he wrote his third New York Times best-selling book, Mobs, Messiahs and Markets, which offers concrete advice on how to avoid the public spectacle of modern finance.
Since 1999, Bill has been a daily contributor and the driving force behind Money Morning.
This week, we’ve been exploring the age-old question: Who pays unpayable debt? The borrower?The lender? Someone else?
Show us the politician who wins the White House by promising to cut the voters’ benefits, raise their taxes, and end military boondoggles all over the planet? He doesn’t exist.
Still no visible crack in the stock market. But the economy may be breaking down. First, there is growing recognition that the Obama/Trump recovery has been a flop.
And now, the runaway train gathers speed. The federal deficit was $587 billion in Obama’s last year. Mr. Trump’s budget increases it to $1 trillion.
Taxes, tariffs, regulations – they’re all ways to transfer wealth and power from the common man to the elite who control the government.
This was our land. We had heard that there were people living up here. But we doubted it. It was too barren, too bleak, and too dry.
Some say capitalism has failed America. More likely, America has failed capitalism. Capitalism needs capital. Real money, in other words. The feds gave it fake money.
In a free (capitalist) system, some people will always work harder, get luckier, invest their time and money more wisely, and get richer.
No economic recovery ever exceeded 119 months. This one is already at month 116. The audience is getting restless. It’s time to wrap it up.
The present administration is adding to the federal debt at the rate of about $3 billion per day. Trump’s budget proposal pretends that his extra debt is nothing to worry about.
Proponents typically look to Europe for guidance. They see Denmark, Sweden, and Norway and believe ‘soft socialism’ isn’t so bad.
We never expected the president to go Full Retard on his trade war. Instead, we thought he would settle the issue…as he did the trade war with Canada and Mexico…in some ongoing, negotiated mush.
In Argentina, as in America, there is an elaborate system of social insurance designed to protect the working class.