Bill Bonner

Interest Rates, Observed

Lower interest rates encourage borrowing. That’s the whole idea. Debt goes up. Spending goes up. The feds ‘print’ more money to cover their deficits. Prices rise further.

Lost Generations

Home is where the heart is. But history tells us that there are good times to be somewhere else.

What to Do With Your Money Now, Part II

Commercial real estate is a very local matter. If you can find a good building, in good shape, with a reliable tenant, and decent cash flow, it could be a good place for your money.

What to do With Your Money Now

Businesses — both private and public — are where the real money is. You can hold an ounce of gold or a bitcoin from here ‘til kingdom come; you will still just have an ounce of gold or a Bitcoin.

Everybody Loves a Parade

Aristotle believed that people turned to tyrants when the elites became contemptuous of them and the government became largely dysfunctional.

Power Politics

A society only produces so much wealth. It can then consume it. Or, it can save and invest...so as to produce more in the future. The real ‘political’ question is: who decides?

Another Brick in the Wall

Reducing trade deficits also means reducing the number of US dollars that end up in foreign hands. Those dollars are typically recycled into US bonds. That’s the way the fake money model works.

Semper Augustus: End of the Golden Age

The Dutch Republic flourished from trade. It bought and sold. Did it get ‘ripped off’ by its trading partners? The question seems absurd. On our…

Climate change at last!

The only honest role for government is to protect people from danger. But it quickly becomes a protection racket. The more fearful people become the more they are willing to pay for protection.

Capitol Farce

While Washington pulls another fiscal all-nighter, the Primary Trend marches on. Bill Bonner explains why the farce on Capitol Hill isn’t just political noise—it’s a signal for what’s coming next in debt, inflation, and global markets.

Tomorrow's News

America’s ‘national’ debt rose from less than $6 trillion in 2000 to over $37 trillion now. The US trade deficit rose to $1.1 trillion over the last 12 months — 10 times more than it was 2000.

If the ship is sinking, it doesn’t matter who is the captain

In today’s issue: DOGE dodges the real issues Trump offers a new colour of the carpet, not new policy The ship is sinking and politicians…

It took inflation at 3,700% to stop the bloodsuckers on the Pampas

The leech doesn’t stop sucking just because the host joins a health club; it only stops when it has to stop... after the host dies. That’s when you get a New Era.

Musk and Ramaswamy will be swinging from the trees in the DC swamp

Watch how the nearly immovable, blockish ballast in Trump’s Big Spending brain collides with the almost-unstoppable energy of the expense cutting dynamic duo.

Only a crisis can save us now

In France, the voters turned against Macron. In Germany, they turned against the centrist Social Democrats. In the UK, both centre parties are in trouble.

The biggest turnaround story since the Soviet Union disbanded

Some investors see in Argentina the kind of boom that took place in Eastern Europe after it was freed from the Soviet Union in 1991... or China in 1979.

God, climate change and the deficit on Thanksgiving

We had spent the day before Thanksgiving splitting firewood. All day, we loaded the logs — oak, locust, cherry, and poplar — onto the splitter. Once split, the fire logs were stacked in the barn.

Ten years of wars and inflation

On Friday 22 November, US debt hit a new record – $36 trillion. There was also this little news item last week – Reuters: “Putin says Ukraine war is going global”.

Mr. Trump is an unlikely Moses, let alone Milei

The best case is a boom. Like the one set off by Ronald Reagan in 1980. But if there’s a best case, there’s also a worst case. Today, we begin looking for it.

When Trump’s Golden Age will get badly tarnished

Nobody knows the future. We bet on the patterns of history — in politics and markets. Those patterns suggest that The Donald will face long odds.