Rough Seas Ahead, by Bill Bonner

Falling stock and bond prices may set off a financial crisis this year. From Bill Bonner at

A precarious Channel crossing and a look at the forecast for 2023…

Bill Bonner, reckoning today from Youghal, Ireland…

We are on our way to France. Checking the maritime forecast, we expected the sea to be so rough. We didn’t want to be seasick for a 17-hour voyage. So, we’re taking the short route to Wales, thence across England to the southeast coast, where we will board the Eurotunnel and cross to Calais.

This leaves us little time to read or write. So, we begin with a quick market update…and tomorrow…leave you with our memoire of our first Christmas in Ireland.

Here’s the headline from the Financial Times:

Markets lose more than $30 trillion in worst year since financial crisis

“The end of cheap money,” begins an editorial.

The BBC adds more bad news:

A third of the global economy will be in recession this year, the head of the International Monetary Fund (IMF) has warned.

Kristalina Georgieva said 2023 will be “tougher” than last year as the US, EU and China see their economies slow .

“Even countries that are not in recession, it would feel like recession for hundreds of millions of people,” she added.

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