32 Comments

Almost everyone in the Congress would agree that the biggest problem we have is the national debt. That is a macro-economic problem. But every member of Congress is more concerned with their own micro-economic problem which is getting reelected. The things that must be done to balance the budget and get the debt under control are contrary to their major objective of getting reelected. The system is the problem

Expand full comment

From an interview with David Stockman the only way this gets fixed is to eliminate the Federal Reserve. Once that goes all the rest will be forced in line . Electing the right politician won’t work. Debt monetization needs to be ended.

Expand full comment

Haha. A "tech boom" is what "they" trot out when the market/economy needs cover. Don't fall for this again. As Bill constantly points out, tech has not improved anything, merely gives the illusion. AI is the next money trap. Best always. PM

Expand full comment

It’s not that the government “should” borrow more money, it must borrow more money because of the appropriations bills that were passed.

Expand full comment

I would like to give a gift subscription. That option used to be available at the bottom of the newsletter.

Please make it an easy procedure for me.

And can you post once more the recommended gold stocks or ETFs for holding physical gold. I know I’ve read the names here twice before. This time I will print them off.

This is the most common sense and educational publication I have ever read. Not to mention humorous and clever! That says a lot..I’m mid 80’s.

Thank you so much for a fresh breath of air each day!

RT (traveling and living between Idaho, California and Texas). The best of all worlds!

Expand full comment

Artificial Intelligence (AI) has a scalability problem outside of the biggest and most cash on hand flush enterprises in the world. I wish congress and the senate would sit down to establish a realistic solution to start chipping away at the national debt (I believe it’s a fools errand that it will ever get below $10 trillion again). Additionally, the US national security strategy is 40 years out of date location and configuration wise. A serious downsizing of footprints and reorientation of our principle strategic relationship needs to be addressed. My idea might be dumb, but if I were the United States and was serious about building a modern partnership, I would do that with India (Location is more strategic for the next 50 to 100 years of civilization advancement and interest protection). Instead of building more, downsize, reconfigure, and start realizing that strategic interests/alliances does not translate to world police force with unlimited taxpayer funds.

Expand full comment

Tulips anyone?

Expand full comment

Certainly the gov's direction, on printing money, isn't going to switch until it has no choice. I think nothing is more obvious than that. The US hasn't lost reserve currency status and it still can borrow. Our "leaders" are those farthest removed from considering the negative possibilities. They don't have the slightest bone in their bodies when it comes to saving for a rainy day. So goes the nation!

Expand full comment

Bill,Like your comments on Wallstreet verses Main Street.

Expand full comment

As a "lifetime" member in the Bonner enterprise, I felt a little bit like the rug was pulled out from under us loyalists with the Florida fiasco. Nevertheless, I wanted to make it clear that my remarks were intended as an observation on the "product", and certainly I wanted to steer away from any innuendo or "reading into" regarding character. Nomi Prins may very well be on solid ground in her opinions and professional approach, but she is very aggressive in her marketing and customer relations, whereas Bill is a soft-peddler. That's what I meant by "oil and water". I wish Ms. Prins nothing but the best, but I remain determined she does it without me. Thank you for you input and contributions. Best always. PM

Expand full comment

I don’t know any US Congressmen or Senators. Can someone who knows one or two comment if it’s possible to have sensible conversation with them about Common Sense.

Seems to me that once they get elected into the role they have brain failure.

Economics, Deficit, Crash, Currency, Devaluation etc should not be matters for day to day discussion.

Only voters talk about this twaddle, it is so irritating and low brow !

Similar to that Artificial Intellectuals stuff....

Expand full comment

"The Fed lent out money below the rate of inflation – lots of it. In 2009, the Fed balance sheet – a measure of its lending – stood at under $900 billion. By 2022, it was almost over $9 trillion"

"The Nasdaq, home of much hope and wishful thinking, rose in line with Fed lending, up from 1,300 in 2008 to 13,000 in 2021."

Funny how that works, isn't it ? How is a correlation of 1 called again ?

I wish I hadn't read this - could still think I actually have some investing skills

Expand full comment

I think there's an error in your numbers regarding the Fed's balance sheet. You say that In 2009, the Fed balance sheet – a measure of its lending – stood at under $900 billion. Yet an IMF working paper (WP 09/120) notes that the fed's balance sheet doubled in 2008 to ~$2.2 Trillion, which makes sense, given the events of that year. The last year close to $900 Billion was 2007, according to the IMF paper (see figure 2. p.7)

Expand full comment

I have a question for Tom Dyson. Tom, if it is true about a new fed digital coin to replace cash, should we still keep a large percentage of cash? Nomi Prins is warning against keeping cash in a bank. What say you?

Expand full comment