Until Something Breaks, by Bill Bonner

And assuredly, something will break. From Bill Bonner at bonnerprivateresearch.com:

No magic… no genius… and no common sense


Bill Bonner, reckoning today from Baltimore, Maryland…


Last week came more evidence that inflation is not going away. Today, we explain why. MarketWatch:

In data released Friday, U.S. producer prices rose 0.3% in November versus the 0.2% median forecast from economists polled by The Wall Street Journal. The increase in producer prices over the past 12 months slowed to 7.4% from 8.1% in the prior month, and was down from a 11.7% peak in March.

The report, which came in above expectations, indicated that there’s less moderation in price pressures than analysts had expected for last month.

Foretelling much worse inflation sometime in the future, prices for finished consumer goods actually went up at a 16% rate – the highest in 48 years.

Three Major Busts

But that’s the trouble with a ‘sea of lies;’ it inevitably gets stormy. Ships run aground. 

The Fed gave out the lie that it could manipulate the economy and make us all richer. It claimed to be “smoothing” the economic cycle. No more bubbles. No more busts.

But thanks to the Fed, we’ve seen 3 major bubbles in the last 22 years. And three major busts. We’re still in the 3rd one. 

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