07/27/07 - The Collapse of Collapse
by Bill Bonner "The world has never been want for some kind of crisis that tests its inhabitants. War, depression, economic hardship - all still occur. What has changed in the last quarter century is the way we approach these crises. Bill Bonner explores how the current global mindset is allowing trouble to take a holiday. Read on..." 07/20/07 - The Unbearable Lightness of the Buck
by Bill Bonner and Lila Rajiva "It has been said that a man is only as good as his word. Well, dear reader, the same can be said for the U.S. dollar. Since there is nothing else to support it, we must trust that it is worth what it says it is worth. Unfortunately, the dollar's 'word' may soon be worth no more than the paper it's printed on. Read on..." 07/13/07 - When Genius Fails...and Fails...and Fails...
by Bill Bonner "With the advent of telecommunications and the Internet, it seems like the world has no shortage of self-proposed geniuses. But if this is in fact the case, why are so many people falling into such obvious financial pitfalls. Bill Bonner explains..." 07/06/07 - Bear's Market Blues
by Bill Bonner "With the housing market in free fall, it is sometimes difficult to decipher exactly where everything began to go wrong. This week, Bill Bonner sifts through CDO’s, MBS’s, and falling asset prices to explain what is really happening. Read on..." 070407 - Land of the Free
by Bill Bonner "Today is the day we celebrate the unique American experience with 'pomp and parade, with shows, games, sports, guns, bells and illuminations.' But, in this DR Classique, first published on the Fourth of July, 2003, Bill Bonner can't help but notice that America has changed quite a bit since the Declaration of Independence was signed..." 06/29/07 - To Him that Hath
by Bill Bonner "There is no better example of the current overabundance of wealth and credit than in the art market. Paintings are being sold at record prices, and the cash flow doesn't seem to be slowing down. This week, Bill Bonner examines both the absurdity and the rationality of this current bubble. Read on…" 06/22/07 - The New Capitalism
by Bill Bonner "The old model of capitalism used to be focused on economic output. This new model concentrates on buying and selling the capital assets themselves.” 06/15/07 - Three Weddings, One Funeral
by Bill Bonner "While the first major financial marriages took place at the height of the ’80s, it seems that recent big business nuptials are giving them a run for their proverbial money. But as Bill Bonner explains, these business ventures are just another aspect - and inevitable victim - of the global super bubble. Read on..." 06/08/07 - Getting Greener and Greener
by Bill Bonner "Almost no issue is ever beyond question. And so it goes that global warming must also be scrutinized. Thus, as the world pushes toward a 'greener way of thinking', Bill Bonner dusts off his microscope and examines the topic of the day. Read on..." 06/01/07 - The Life and Death of Great Cities
by Bill Bonner "Once upon a time, Detroit was one of the world’s great English-speaking cities...but those days are long gone. Bill Bonner takes a look at the rise and fall of Motor City, below..." 05/25/07 - Communists Invade Private Equity
by Bill Bonner "High and low, Chinese and foreign devil, Ashkenazim and goyim...everyone now expects to get into heaven without ever dying...and to be the one sucker in history to get a better-than-even break. Bill Bonner explains..." 05/18/07 - The Plaza de Toros
by Bill Bonner "Even in our progressive society, we have come to expect, and in some cases demand, a certain level of brutality in sports; just look at boxing, or football, or hockey. Perhaps it is that humans have an inherent bloodlust that can only be quenched through some form of entertainment. Well, as Bill Bonner explains, there is one ‘sport’ that raises the bar for anyone who thirsts for more. Read on..." 05/11/07 - What a Sarko Victory Really Means
by Bill Bonner "It is always entertaining to watch politicians duke it out in the public arena - no matter what language it’s in. This week, Bill Bonner examines the recent French presidential election, and gives some insight into what the United States has to look forward to in 2008. Read on..." 05/05/07 - Victims of Success, Part II
by Bill Bonner "The latest military spending bill…just passed by Congress, permits the president of the United States to become a kind of dictator in the event of a 'situation' that he feels calls for martial law." 05/04/07 - Victims of Success, Part I
by Bill Bonner "Throughout history, it is clear that becoming successful is hardly ever easy. Often times it takes a great deal of fortitude, and it can even be very dangerous. But as Bill Bonner explains, without these inherent dangers, our lives as we know them might be completely different. Read on..." 04/27/07 - Those Irresistable Hearts of Darkness
by Bill Bonner "The world is currently reveling in excess. From China to Las Vegas, the constant exchange of money is getting more and more outrageous. Bill Bonner explains why investors may be setting themselves up for failure by entering into the ever-darkening hearts of some very volatile markets. Read on..." 04/20/07 - Globalization and Its Discontents
by Bill Bonner "Globalization is nothing more than the extension of the division of labor across international boundaries. However, in this DR classique from April of 2005, Bill Bonner asserts that in modern America, globalization means the rest of the world sends you things you don't have to pay for. Read on..." 04/13/07 - Limbic Medals
by Bill Bonner "Research shows that the brain has two centers for decision-making. This data has been said to explain why Americans save so little - one part of the brain told them they should put their paycheck in the bank, but the other insisted on buying a new wide-screen TV. In this DR Classique, first run in April of 2005, Bill Bonner takes a look into these parts of the brain..." 04/06/07 - The Fruited Plain
by Bill Bonner “Farm products - especially corn - have played a large role in shaping American history. Below, Bill Bonner explores the effect this crop has had on the U.S. economy through the years...” 03/30/07 - Alpha Dogs
by Bill Bonner "When desperately seeking alpha, the average investor will buy just about anything...even if that means overpaying. This week, Bill Bonner examines the gall of the private equity industry, and how it compares to that of the hedge fund industry. Read on..." 03/23/07 - 300 Cretins
by Bill Bonner "It takes a great deal of courage to stand with only 300 men against 100,000. However, unlike the Spartans at the Battle of Thermopylae, the small group of men who goaded President Bush into Iraq did so at no great personal sacrifice. As Bill Bonner explains, it is the common man who will suffer the greatest sacrifice of this War on Terror. Read on..." 03/16/07 - Loans from Hell
by Bill Bonner "Like a comically misplaced banana peel, the subprime mortgage industry has slipped up more than a few big names in the housing industry. But as Bill Bonner explains, when the collateral on these loans rests on white lies, lenders are left slipping and sliding...with nothing to grab hold of. Read on..." 03/09/07 - Alphas, Betas, Scamps and Scalawags
by Bill Bonner "As the subprime industry continues its steady decline into the bowels of bankruptcy, we can’t help but wonder what these lenders were thinking. Bill Bonner explores this industry’s business model, and finds out that sometimes, thinking isn’t necessary - just showing up to work is enough. Read on..." 03/02/07 - Normal Markets
by Bill Bonner "A ‘normal market’ is a lot like a ‘normal tornado’ - both can whip things up and tip over the outhouse. Our only hope is that we’re not in it when it does. Bill Bonner explains..." 02/28/07 - Money Matters That Matter to Money
by Bill Bonner "As yesterday’s events show, money is like a perpetual child. It needs to be cared for and worried about; otherwise it can get out of control. This week, Bill Bonner reminds us of a time when people still worried about things like trade deficits and money supplies, and how a current carefree attitude toward these things might lead to our downfall. Read on..." 02/23/07 - For Better or For Worse
by Bill Bonner "Over the last several years, Nicaragua has gone from banana republic to tourist destination. But is this a good thing? As Bill Bonner explains, ‘good’ is a relative term that often follows the flow of money. Thus it really depends on who you ask. Read on..." 02/16/07 - The 'Justes' and the Good: More Real Heroes, Part II
by Bill Bonner "In part two of this essay, Bill Bonner discusses the simple act of planting trees. What’s so heroic about planting trees, you ask? Read on to find out how one man changed the face of an entire landscape forever..." 02/15/07 - The 'Justes' and the Good: More Real Heroes, Part I
by Bill Bonner "There are those who live life only for themselves, and then there are those who live to inspire life in others. In part one of this follow-up to his piece Real Heroes, Bill Bonner cites two major examples of what it means to truly live life to the fullest. Read on..." 02/09/07 - A General Theory of Stupidity
by Bill Bonner "Us here at the Daily Reckoning is not stupid, but we do have an idea of what makes people ignorant to the major problems we face on a daily basis. As Bill Bonner explains, it has nothing to do with brain size, and everything to do with a lack of evolution. Read on..." 02/02/07 - Confessions of a Newsletter Man
by Bill Bonner “The newsletter business can be a fairly dangerous, even cutthroat business to enter into. Some people do it on a whim, and some do it merely because they have no reason not to. Bill Bonner reminisces about a few industry legends...” 01/26/07 - The Highway Men
by Bill Bonner "“It goes without saying that, throughout the years, there are many people who truly deserve their wealth, because of their hard work or useful contributions to society. However, as Bill Bonner explains, today’s ‘upper echelon’ is quite different, since their wealth is not really based on anything - let alone anything useful...” 01/19/07 - The Heart's Dupe, Part II
by Bill Bonner “Fads, fashions, cycles...booms and bubbles...public spectacles - all come and go. The disaster is that nobody takes it seriously anymore...because it doesn’t deserve to be taken seriously. But there is probably a deeper cycle at work. Bill Bonner explains...” 01/12/07 - The Heart's Dupe, Part I
by Bill Bonner "There are little lies we tell ourselves, and then there are big, mass illusions that sometimes cloud our rational way of thinking. In part one of his essay, Bill Bonner discusses the phenomenon of public spectacles and the great lies and/or small fibs that are necessary to perpetuate them. Read on..." 01/05/07 - Real Heroes
by Bill Bonner “Dying is easy for brave men. It is living that is hard...living with dignity and courage. It doesn’t take a lot of courage to give up a seat on the subway...but there are times when the tests are more important.” 01/01/07 - Our Annual Forecasts
by Bill Bonner “A brief look at what fate has in store for us in the coming year.” 12/29/06 - All Men Are Created Equal
by Bill Bonner “Why is it you can hold an intelligent conversation with someone about any number of things, but when the topic is changes to the ‘War on Terror’ or global warming, they begin parroting nonsense they heard yesterday on MSNBC?” 12/01/06 - Little Big Bubbles
by Bill Bonner "The derivatives market has reached a face value of $480 trillion...30 times the size of the U.S. economy...and 12 times the size of the entire world economy. Trading in derivatives has become not merely a huge boom or even a large bubble - but the mother of a whole tribe of bubbles...dripping little big bubbles throughout the entire financial sector. Bill Bonner explores..." 11/25/06 - Misleading Knowledge, Part II
by Bill Bonner "We don’t know much - but one thing that we know for sure is that every monetary system that came before ours’ has washed up. And every paper currency every previous experiment with paper money has ended in regret and recrimination. All bubbles end. All of them. Read on..." 11/24/06 - Misleading Knowledge, Part I
by Bill Bonner "There’s no way of knowing what will happen in the future - in fact, our investment approach is founded on ignorance. But what if you could see what will happen, a la Back to the Future? Would it make a difference? Bill Bonner explores..." 11/23/06 - Thanksgiving
by Bill Bonner "When people think of Thanksgiving, they think of Pilgrims and Indians, sitting down at the same table to give thanks...but in this DR Classique, first run on Thanksgiving Day, 1999, Bill Bonner gives us a lesson in the real history behind the holiday..." Overestimated Brainpower
“Win, lose or draw...the fight goes on. Always fighting to make the world a better place - to improve the planet and the lives of all it inhabitants...except for those it considers ‘evil.’” 11/17/06 - What We Don't Know...
by Bill Bonner "There are plenty of things in this world of which we are fairly ignorant - global warming...peak oil...K-Fed and Britney - but then there are things of which we are fairly certain - specifically, the advantages of private investing over public investing." 11/10/06 - The Million Dollar Trailer, Part II
by Bill Bonner "One of the prime examples that the housing bubble is coming to an end: when the 21st century first budded out, only 5% of mortgages were of the so-called ‘sub-prime’ variety, now, one in four were to sub-prime borrowers." 11/03/06 - The Million Dollar Trailer, Part I
by Bill Bonner "We are still not sure that the great bull market in U.S. residential real estate has come to an end. What we are sure of, on the other hand, is that it isn’t at the beginning." 10/27/06 - Iwo Jima
by Bill Bonner "Clint Eastwood’s latest film, Flags of Our Fathers, tells the story of the men who raised the stars and stripes on Mount Suribachi at Iwo Jima...and the three of them who survived. Bill Bonner explores the amount of courage - and sheer stubbornness - displayed in World War II..." 10/20/06 - Full Spectrum Dumbbells
by Bill Bonner "Every public spectacle makes the headlines at least twice: First, in pleasant expectation; later, in miserable regret. The war on Iraq is no exception. Bill Bonner explains…" 10/19/06 - The Power of Gold
by Bill Bonner and Addison Wiggin “So, if the U.S. economy is crumbling and we shouldn’t put our money in stocks…or bonds…or housing - what do we invest in?’ Our answer never wavers. “Buy gold.” Read on… 10/13/06 - The Late, Great Helmsman, Part II
by Bill Bonner "Today, Bill picks up where he left off in last Friday’s essay - with our sordid protagonist, Mao Tse-tung, lolling in his sedan chair, with scrawny, skin-kneed porters hauling him all around China. Read on..." 10/11/06 - The Coming Correction
by Bill Bonner and Addison Wiggin "Now that the housing market has gone soft, what’s next? Well, despite a stock market rally and high consumer confidence, a correction is headed our way - and it won’t be pretty." 10/06/06 - The Late, Great Helmsman
by Bill Bonner "Mao never cared about ideology. He murdered his keen communist followers as readily as capitalist roaders. He took money from Moscow...but he also turned his back on the Russians whenever he could get away with it. Read on..." 09/29/06 - Low in the Water
by Bill Bonner "The remarkable events in the last few days have been greeted by the market, not with shock and awe, but with such a coma-like indifference that we feel like holding a mirror under its nose and taking its pulse. Read on..." 09/22/06 - Hedge, I Win...Fails, You Lose
by Bill Bonner and Lila Rajiva "It recently came to the attention of the public that the hedge fund Amaranth Advisors managed to lose $6 billion in just a few days. We aren't all that surprised. Hedge funds are notorious for sucking up investors' money - and turning it into nothing. Read on..." 09/15/06 - Liars' Loans
by Bill Bonner "What will happen when the Hindenburg of derivatives meets a spark from the housing bubble blow-up? We don't know. But we had a ringing sound in our ears earlier this week. We thought we heard bells. Bill Bonner explains..." 09/08/06 - Festering Dudgeon
by Bill Bonner “A genuine hard landing for U.S. housing will send up dust all over the world. Most people can’t bear thinking about it...which is exactly why we like to write about it.
09/01/06 - Family Business, Part II
by Bill Bonner "Money, sex, and hair loss are taboo subjects in our household. They are all things about which a middle-aged man thinks often, but rarely speaks." 08/25/06 - Family Business
by Bill Bonner "Experimenting, learning, training, finding good partners and building expertise took years. We were well over the age of 40, before we had any money at all." 08/18/06 - Financial Reckoning Night
by Bill Bonner "At night, a man’s palms sweat, his breathing turns shallow, he tosses and turns, and wonders if he’s reckoned aright. He’s bet his entire net worth on a couple of houses in the neighborhood; he’s got big mortgages." 08/04/06 - Consuming Passions
by Bill Bonner "The world may go to hell, if it wishes. This summer, at least, we will work on our own folly…a gypsy wagon."
07/28/06 - A Farewell to ARMs
by Bill Bonner "ARMs are in fact diabolical devices intended to speed marginal buyers on the glittering road to hell. ARMs give the weakest buyer the luxury of pretending to buy what he really can’t afford." 07/07/06 - Exiles Eternal
by Bill Bonner There are a lot of exiles in this world. Each one has his own reason; we have ours. Long before we left America, the America we knew left us. We travel not to get away from it, but to find it.
06/30/06 - Inflation, Deflation, or Bust
by Bill Bonner "At 7:15 p.m. London time came the news we already knew: the Fed raised rates an 18th time - to 5.25%. Inflation will be tamed! Deflation, be damned!"
06/23/06 - Buck Naked
by Bill Bonner "Mr. Greenspan’s desktop motto has another sort of punch line hidden in it, though. More dollars came to birth while he was the nation’s top banker than under all the other fed chiefs combined." 06/16/06 - Faith in Faith
by Bill Bonner "If we have a faith-based monetary system, what do we have faith in? When this, too, passes, what will take its place?"
06/09/06 - Bubble Kings
by Bill Bonner "Every era has its clowns, its heroes, its fools…and its winners and its losers. Often, the honorable among them are sent to the scaffold; the dishonorable go to Congress." 06/02/06 - The Way of All Cash, Part II
by Bill Bonner "In 2003, the economy grew at a rate even India would be proud of: 8.4%. The cafes are filling up. Prices are rising. The country would probably prosper, if the Perónistas would just leave it alone." 05/26/06 - The Way of All Cash, Part I
by Bill Bonner "Today, with the United States facing what could be the greatest financial crisis the world has ever seen, we look beyond the Rio Plata to see what we can learn."
05/19/06 - Portrait of an Artist as Scalawag
by Bill Bonner “Remember when the role of artists was to draw out the beautiful and noble from contemporary life? Recently, a rock star announced he would charge $1,750 for paintings he created - out of his own blood. Bill Bonner explores...” 05/12/06 - Don't Cry For Evita
by Bill Bonner "Eva Peron was a favorite of the poor of Argentina. She had a warm heart, it was said. But like that other great champion of the masses, Che Guevara, Eva realized her greatest glories after she was stone cold dead." 05/05/06 - Noble Rot
by Bill Bonner "The green buds come out in spring, unaware that they are all doomed. But when the crisp weather comes, they do not simply droop and die. Instead, the stress of approaching death brings out the best in them."
04/28/06 - "Can Do" Money
by Bill Bonner "How do you ensure yourself a position at the Fed? Take a cue from Greenspan: keep breathing – and keep creating money out of thin air. Bill Bonner explains in this DR Classique, first published on April 25, 2003.” 04/14/06 - Pilate Error
by Bill Bonner "Jesus may have been no menace to Rome, but he was a troublemaker in the Levant. The elders wanted to get rid of him. The mob wanted his blood." 04/07/06 - Erin Risen
by Bill Bonner “Although the River Liffey runs through Dublin like it always has, something has shifted in Ireland - for the better. What brought about this dramatic change? Bill Bonner explores...”
03/17/06 - All About Evo
by Bill Bonner "Evo Morales was elected president of Bolivia in December 2005. He won a landslide victory at the polls, proving once again that voters too get what they deserve, not what they expect."
03/10/06 - Bernanke's Big Test
by Bill Bonner "Bernanke’s test is coming. He, too, will have his opportunity to blunder. Will the stock market crash? We don’t know, but if it does, it has a lot more room to fall than it did in 1987."
03/31/06 - Extraordinary Popular Headlines
by Bill Bonner "'In America,' said Gore Vidal, 'half the population doesn’t read the paper. Clearly, they are the intelligent half.'"
03/24/06 - Worst Trade of the Decade
by Bill Bonner "When Britain’s brightest and best got together in the late ‘90s to plot monetary policy, every sensible thought seems to have fled straight out of their heads." 03/03/06 - Heroes Of The Revolution, Part II
by Bill Bonner "What intrigues us most is Che’s role as head of the Central Bank of Cuba. Of course, we know little about his actual performance as a central banker. We can merely guess from the results that no one ever did the job worse." 02/28/06 - America's Glorious Empire Of Debt
by Bill Bonner "Americans are proud of their empire - and should be. Without it, they could never have gotten so far in debt." 02/24/06 - Heroes Of The Revolution
by Bill Bonner "We read in the paper that Evo Morales, the new president of Bolivia, said he was 'following in the footsteps of Che Guevara.' Either the fellow has a sense of humor, or he is as stone stupid as Che himself." 02/17/06 - Wars Of Terror
by Bill Bonner "Here at The Daily Reckoning, we are opposed to war, in the sense that we are opposed to election fraud or stomach gas. But we take it for granted that war happens from time to time" 02/10/06 - Ivan's War
by Bill Bonner "While the victims in today’s essay are the Soviets, the protagonists...of our theme include us all. We may not be communists, or Russians, or soldiers, but we stand on two legs along with them, and breathe the same air."
01/26/06 - Take It Away, Maestro
by Bill Bonner "If anyone could be held directly and immediately responsible for the record level of America’s foreign and domestic debts, it was Alan Greenspan." 01/20/06 - I, Greenspan
by Bill Bonner A farewell to Greenspan: his life, his policies, his infamous “Greenspan speak.”
01/13/06 - Altered State of the Union
by Bill Bonner "The American empire, circa 2006, is a grotesque and remarkable thing." 01/06/06 - Death Chagnes, Breakdowns, and Forecasts for 2006
by Bill Bonner “In yesterday’s issue, Bill promised to give his predictions for the year ahead in today’s essay – but we must warn you: What follows is more of a churlish lament than a real forecast. Read on...”
12/30/05 - Spontaneous Order
by Bill Bonner “We are often asked: “So, what exactly do you guys do again?” Admittedly, sometimes we wonder the same...but Bill Bonner did a brilliant job of enlightening his employees at this year’s holiday meeting.”
12/23/05 - Over the Top
by Bill Bonner “The holiday season is a perfect time to see American over-consumption in all it's glory...and as Bill Bonner points out in this DR Classique, first published on Christmas Eve of 2004, American culture is all about exaggeration."
12/16/05 - Evening in America
by Bill Bonner "The codgers refinance their houses, pay with credit cards, and vote for whoever promises them the most of someone else’s money. In politics, and in money, the grumps go along with whatever is popular - just like everyone else."
12/09/05 - Something Wicked This Way Comes
by Bill Bonner "The force of a correction is equal and opposite to the deception and delusion that preceded it. Alan Greenspan, George W. Bush, and all the great nabobs of positivism assure us that there is nothing to fear." 12/28/05 - Thom Hickling, R.I.P.
by Bill Bonner "Somehow, Thom could create a party just by walking into a room."
12/02/05 - Looking Out For The Larvae
by Bill Bonner "Today, the child born in America practically has an electronic ankle tag put on him immediately. He’s got his share of about $50 trillion in obligations to pay; they need to make sure he doesn’t get away."
11/30/05 - Paying For War
by Bill Bonner "When America entered the war, its expenditures outdid the other combatants, averaging $42.8 million per day from July 1917 until June 1919." 11/25/05 - Land of the Deadheads
by Bill Bonner "Yesterday was the greatest of American holidays, Thanksgiving Day. It is the day we are meant to show appreciation for all the many blessings showered upon us..." 11/23/05 - What Hath Alan Wrought?
by Bill Bonner "Alan Greenspan is the most famous bureaucrat since Pontius Pilate. Like Pilate, he hesitated, but ultimately gave the mob what it wanted." 11/18/05 - Remembering Remembrance Day
by Bill Bonner "There is something about the métier of soldiering that seems to attract martinets and blockheads. We see what it is immediately. A thoughtful man might wonder what the point is." 11/16/05 - The Tyranny of the Living
by Bill Bonner "Oh, progress! Thou art forever making things better, aren’t thou? Throw out the sacred books - what are they, but the thoughts of dead imbeciles?" 11/11/05 - Remembrance Day
by Bill Bonner "For whom did the bells toll? It was precisely this hour on this day of this month in 1918 that bloodiest war in human history came to an end." 11/04/05 - Looking Up...Down on the Pampas
by Bill Bonner "Investing in any country is a gamble. Not only have you know idea what cards might turn up, you also have a sneaking suspicion that the dealer may have one or two up his sleeve." 10/28/05 - A Daily Reckoning Desideratum
by Bill Bonner "Speak your truth quietly and clearly; listen to others, even the dull & ignorant, for they too have money to spend." 10/19/05 - Where to Wait Out the Bird Flu
by Bill Bonner “We have a special treat for you today, dear reader - an essay from Bill in the middle of the week. This topic is so interesting and timely that it simply couldn’t wait until Friday.” 10/14/05 -The Iraq War - Part I
by Bill Bonner “There is much controversy surrounding the war in Iraq...but most who speak out against it, miss the true geopolitical importance of the war. Bill Bonner explains...” 09/30/05 - God*mmit! I'm An American
by Bill Bonner "Is the toilet paper soft...just like it is at home? Do the shops take credit cards, just like they do in Flagstaff? Are the roads paved as well as they are in Michigan?"
09/23/05 - As We Go Marching
by Bill Bonner "People wondered what it was about the Germans that had made them so ready to go to war...and so willing to go along with ghastly deeds on a national scale. Was it something in their blood, in their culture...or in their water?" 09/16/05 - The Importance of Doing Nothing
by Bill Bonner "Few things are as damnable as inaction. In politics, it is cause for recrimination... In finance, it is cause for regrets. In war, it is cause for firing squads." 09/09/05 - Wealth, Poverty and Blithering Idiots
by Bill Bonner “Among the sea of those who believe the government dropped the ball in the aftermath of Katrina - there is one man who points out that we put way too much faith in American politicians. See what the ultimate contrarian has to say...” 09/02/05 - Houses Without Moat
by Bill Bonner “Three years ago, we speculated that the housing bubble had found its pin...now - we’re sure of it. This DR Classique first ran on September 20, 2002...” 08/26/05 - Rage Against The Machine
by Bill Bonner “Departing from our premonitions of where the U.S. may be headed, we pause to wonder in what direction mankind is ‘progressing’...and why. This DR Classique was originally published on October 27, 2000...” 08/19/05 - Slouching Toward Empire
by Bill Bonner “Now, if you deny that the United States is an empire, you are as big a fool as we are. For a very long time we resisted the concept. We did not want the United States to be an empire. We thought it was a political choice.” 08/19/05 - Facing Extinction
by Bill Bonner “In this DR Classique that originally ran on August 18, 2000 Bill examines ‘Digital Man,’ a mutant fully equipped to provide you with obscure song lyrics, train schedules and the secret to VCR programming...” 08/05/05 - An Air Of Fin De Bubble
by Bill Bonner “In this DR Classique, that first ran in August of 1999, your prescient editor considers bubbles...and the human nature that sustains them...” 07/29/05 - The Most Flattering Fraud of All
by Bill Bonner “Everything in this world is connected - manias and bubbles, liberty and happiness - and even affairs of the heart and economics. Bill Bonner explains...” 07/22/05 - Love in the Time of Sildenafil Citrate
by Bill Bonner “Today, Bill turns from the examining the financial world, to much serious matters - life, love and the pursuit of happiness. Read on...” 07/15/05 - Good-Bye, Ruby Tuesday
by Bill Bonner "Forty years and two days ago, Lyndon Johnson opened a new phase of the war in Vietnam. Instead of observing, training, advising and protecting...U.S. soldiers were to go on the offensive." 07/12/05 - The Shopping Season
by Bill Bonner "In the junior mining sector, summer is referred to as the 'Quiet Season,' when the flow of news dries up and brokers take off to go on vacation. However, Doug Casey shows us that this summer slump holds unrealized opportunity." 07/08/05 - The Blitz of London
by Bill Bonner "As the citizens of London brush themselves off, and try to return to their normal lives after yesterday’s terrorist attacks, Bill Bonner reminds us that this isn’t the first time our British friends have been through this." 07/01/05 - Greatest Generation
by Bill Bonner "Every generation seems to think that history marches onward - until it reaches them. There, it comes to a full stop. It cannot imagine any further evolution or improvement, except in automobiles which it is sure will take to the air before the next generation passes its driving tests." 06/24/05 - Fin de Bubble, 2005
by Bill Bonner "We walked along the river in Southwark and sat down on one of the benches looking out towards Charing Cross station on the other bank. The water was low. Everyone outside shuffled along like a sluggish tide." 06/10/05 - Hollow Dumbies
by Bill Bonner "Institutions have a way of evolving over time - so much so that one day, no one can remember what the original was like. Bill Bonner examines America’s journey from modest republic - to delusional empire." 06/09/05 - Nipping the Bubble in the Bud
by Bill Bonner "Greenspan admitted that there might be some 'local' bubbles in housing, which is a big step for him. What does this possible shift from bubble blindness to bubble awareness mean for our economy?" 06/08/05 - Gold Reconsdered
by Bill Bonner "With gold bouncing back from its recent low, many investors wonder if the rebound is just a short-term spike - or a trend in motion. Doug Casey, however, is more interested in the relationship between gold and the dollar." 06/03/05 - Imperial Conceit
by Bill Bonner "Everyone’s favorite columnist is at it again – with preposterous propositions for the ‘improvement’ of America’s DNA – which has become badly mutated, says Friedman. Bill Bonner explores Friedman’s absurd utopia in disbelief." 05/27/05 - American Hero
by Bill Bonner "In honor of Memorial Day, we give you this Daily Reckoning classique, first written and broadcast May 22, 2000." 05/20/05 - World Empire Towers
by Bill Bonner "Just as a bird in the house is a warning of a death to come; the construction of the world's tallest condo is a signal that the housing bubble is bursting at the seams - ready to pop any minute." 05/13/05 - Paying for the Purple
by Bill Bonner "Did you ever wonder how America came to be the world’s superpower? Bill Bonner explores the self-deception, and the mad and preposterous ideas that led America to her first awkward steps as an empire." 05/06/05 - The Wall Street Fandango
by Bill Bonner "Investors look up to their Wall Street stockbroker with adoring eyes...they see him as the kind family doctor... Bill Bonner points out, however, the only purpose they serve is to separate a fool from his money." 04/29/05 - A Thousand Clowns
by Bill Bonner "Often, the best way to deal with something that you find absurd is to take a step back and laugh. Bill Bonner advises his readers to employ this strategy when trying to decipher what our world leaders are really trying to save the world from." 04/22/05 - Globalization and Its Discontents
by Bill Bonner "Globalization is nothing more than the extension of the division of labor across international boundaries. However, in modern America, globalization means the rest of the world sends you things you don’t have to pay for." 04/15/05 - Limbic Medals
by Bill Bonner "Recent research shows that the brain has two centers for decision-making. which may explain why Americans save so little - one part of the brain told them they should save, but the other insisted on buying a wide-screen TV." 04/08/05 - Paving the Road to Hell
by Bill Bonner "The path that led America to its place as the biggest debtor...biggest consumer...and most meddling military in the world was not forged alone. But, there is one world improver who stands out among the crowd." 04/01/05 - Vandals of the Internet
by Bill Bonner "It seems as though media is taking over the world. But how far does a barrage of headlines get us? We've seen what became of the New Era. Whither, then, the Information Age?" 03/25/05 - America's Best and Brightest
by Bill Bonner "Instead of setting out to improve the world one war at a time, U.S. presidents should take a page out of former President Harding’s book, and take up a hobby to keep out of trouble - like gambling or chasing women." 03/18/05 - Deficit Disorders
by Bill Bonner "There is much debate over the U.S trade deficit – some see it as a sign of the ‘decline of America;’ others insist that it reflects our country's strength. We look at why seeing this deficit as an asset is America’s downfall." 03/11/05 - Reagan's Real Revolution, Part Two
by Bill Bonner "Consumers began a buying spree, while government borrowed the money to fund the deficit. Looked at from a macro-economic perspective, Americans had no more money to spend after Reagan took office than they had before." 03/04/05 - Ides of March
by Bill Bonner "In this Daily Reckoning classique, which originally ran on March 15, 2002, Bill Bonner looks at the War on Terror and the super-power that is the U.S military, and wonders: Is the United States to big to fail?" 02/25/05 - Literary Economics
by Bill Bonner "Bill Bonner examines the differences in the America's economic structure since the last decade of the 20th century. He points out that the world very rarely does what we want it to do, and more often it does exactly the opposite." 02/24/05 - The Fatal Flaw in Social Security and Medicare
by Bill Bonner "If social welfare programs are only offered to people who meet the strict criteria for government aid...why do we give out billions in Social Security and Medicare - to people who don't need financial assistance?" 02/23/05 - Investing in the Bubbles of Tomorrow - Today
by Bill Bonner "Investors are always looking for the next big thing to make them rich...but how can you be sure that your "sound investment" doesn't turn out like the tech bubble of the 90's - just a flash in the pan?" 02/22/05 - Property Hunting
by Bill Bonner "Despite all warnings, the real estate market is still quite tempting to some...Doug Casey recommends that if you must become involved, choose properties off the beaten path...after you've done you're research, of course." 02/21/05 - The Mutant Debt Monster that Ate the World
by Bill Bonner "It may be a holiday, but the Mighty Mogambo never rests...at least not when there's something out to destroy the entire world as we know it. No, it's not Godzilla, or little men from outer space...it's much, much scarier." 02/18/05 - Tabloid Truths
by Bill Bonner "The British press thrives on scandals of their citizen’s private lives, but is that really any worse than the force-feeding of opinions and other people’s politics that goes on in American papers?" 02/17/05 - The Nation that Debt Built
by Bill Bonner "America has become a country of risk-takers - and it's not solely homeowners and investors taking these chances..."trusted" government officials have made promises they can't - and never intended to - keep..." 02/16/05 - Out of Acres
by Bill Bonner "A tale has been told over and over again throughout financial history: Overly confident businessmen and women that gulped at success and became drunk with power...only to be stuck with the aftertaste of defeat." 02/15/05 - Saving Spree
by Bill Bonner "Everyone involved in the financial world has been speculating on what is in store for the New Year...will the dollar rally vs. the euro? And when will the housing bubble burst?" 02/14/05 - No Rest for the Retiree
by Bill Bonner "Remember the good old days, when people looked forward to retirement, thinking that their IRA or 401(k) would take care of them long into their golden years? Now inflation forces retirees to take on another job..." 02/11/05 - Greenspan's Whopper
by Bill Bonner "People take money out of their homes. With this source of spending power available to them, they see no reason to save. Instead, they spend - often on foreign-made goods. With no savings available domestically..." 02/04/05 - The Stain of Democracy
by Bill Bonner "They are not necessarily any better than those chosen by other means - but at least the regime change is achieved without violence. That is the progress of politics of the last three centuries: force is replaced by fraud." 01/28/05 - Foolish Wisdom
by Bill Bonner "When the crowd takes up a corrupt wish - to get something for nothing...or to make the world a better place by killing people - the last thing it wants is another point of view. It is already too late for that." 01/24/05 - Standing Solo in the Crowd
by Bill Bonner "On page one of the International Herald Tribune we see George W. Bush, at his second Inauguration, whose mouth seems to have come such lofty guff he might have been mistaken for a hospital chimney." 01/14/05 - The Money Pit
by Bill Bonner "We bought our first one ten years ago. It was an ideal investment, we discovered. Unlike stocks, or real estate, or gold - a chateau in France is a sure thing. Your stocks might go up, or down. Real estate, too." 12/24/04 - Over the Top
by Bill Bonner "No, today's Scrooges are of a different ilk all together. They drive fancy cars...live in oversized houses...and save nothing. They worship at a strange new altar - an altar of things...things measured in paper dollars." 12/18/04 - The Rape of Nanking
by Bill Bonner "But no cameras recorded the spectacles. The photos in Iris Chang's book provide evidence against those who believe in the perfectibility of man." 12/10/04 - A Goldbug's Life
by Bill Bonner "...But gold wasn't born yesterday...or four years ago. Mr. Surowiecki noticed that the metal has a past, just as it has a present. He turned his head around and looked back a quarter of a century..." 12/03/04 - The Fabulous Destiny of Alan Greenspan
by Bill Bonner "How do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions, as they have in Japan over the past decade?" 11/26/04 - Interview With A Day Trader
by Bill Bonner "...I had one woman on Tuesday. Nice green eyes. Reddish hair. And a thick Irish accent. She said she had lived in Ireland all her life. Even had an Irish passport. But I could tell- Russian Intelligence..." 11/25/04 - Thanksgiving
by Bill Bonner "As the Wall Street Journal reminds us annually, they nearly exterminated themselves in typical Yankee fashion - by wanting to boss each other around..." 11/19/04 - Still Trying to Hustle the East
by Bill Bonner The foreign press seems to have taken to the U.S. grunt in Iraq as if he were John Wayne fighting the Apache. They seem almost to admire the way GIs spit and curse, and "kick butt." 11/12/04 - Remembrance Day
by Bill Bonner "But then, war - like markets, politics and team sports - has a logic of it's own. It is a public spectacle, not a private one. Masses of people are stirred up - mobs, groups, and crowds - to do the most remarkable..." 11/05/04 - The American Brain
by Bill Bonner "People go along with whatever hooey is popular. Not only do they go along with it - they go out of their way to take part in it. The front page of almost all the newspapers in Europe this week carried photos of long lines..." 10/29/04 - All Hallows Eve
by Bill Bonner "Halloween is an example of what Philippe Muray calls 'Festivus'...the way in which the genuine, dark, primeval, wild and dangerous currents and undercurrents in society have been tamed...and transformed into harmless celebrations." 10/22/04 - Ain't Misbehaving
by Bill Bonner "There is always a lot of random noise in markets - as in life itself. But there are patterns, too. The trouble is, the patterns - like fractals - are variable and largely unpredictable." 10/08/04 - The Whacky World of Modern Economics
by Bill Bonner "Economists do not manage their own finances noticeably better than anyone else. But if given the authority to manipulate short-term lending rates, bank regulations and money supplies, they offer to “manage”..." Click here for more Daily Reckoning Essays from Bill Bonner. | 
