Bill Bonner's Diary


World War Z

If you're a movie goer, you've probably seen trailers for Brad Pitt's zombie movie, World War Z. Pitt plays a United Nations employee forced to deal with a global zombie pandemic of epic proportions. Hollywood is picking up on a theme we've been discussing in these pages at some length...

The Phony Recovery

Not much action following the new Dow high. Not much follow-through. But no big breakdown, either. As near as we can tell, the Fed's EZ money has driven up stock prices. Investors expect more EZ money. So they think stocks will go up more.

Buffett to Bernanke: It’s Easier to Buy Than to Sell

The Dow rose another 48 points yesterday. Gold was up $24 per ounce. Nothing remarkable. Nothing illuminating, either. The newspapers and TV channels all reported the Dow 15,000 story as though it were just a stepping-stone on the way to 16,000... or 20,000... or 30,000. Heck, the sky's the limit!

The Real Threat to America (Is Not What You Think)

An extraordinary thing has happened... Thanks to the courage of severely depressed Americans, neither chance nor intention... neither the gods nor "towel head" terrorists... pose a bigger threat to them than they pose to themselves.

The Greatest Lie the Fed Ever Told

At the start of last week, it was widely reported that US central bankers had gone as far as they were willing to go. There were voices in the Fed, said the news, urging caution. There would be no further monetary stimulus measures, said the commentators.

The Greatest Wealth Transfer in History

Last night, six of us went out to dinner at one of the nicest restaurants in Salta. We ordered two bottles of good Laborum cabernet sauvignon. We had beefsteaks, dessert and coffee. The bill came to 1,058 Argentine pesos (about $200). Was that a lot... or a little?

Fed Fail

Stocks and gold were slapped down yesterday. The Dow lost more than 130 points. Gold eked out a $10-per-ounce gain. What does it prove? Nothing. Central banks are engaged in a breathtaking program of activism. We don't know where it will lead. But judging from the historical record, activism and central banking go no better together than drinking and...