| By Bill Bonner I don’t think we should ever shake hands ever again. – Dr. Anthony Fauci SAN MARTIN, ARGENTINA – That does it for us. Now we’re convinced. America’s war against the COVID-19 virus is being run by morons. People have been shaking hands for about 3,000 years. It is a sign of good intentions, as in friendship or sealing a deal. It is just one of the many vernacular customs and manners that mark civilized life. But Dr. Fauci seems to think that the only thing that matters in life is not getting sick. If all we cared about was staying alive… …we would give up sex. God knows what kind of STDs you might get… or have a heart attack from the exertion, like Nelson Rockefeller, in 1979. …if Pearl Harbor is bombed again, we would immediately surrender. Fighting wars is dangerous. …we wouldn’t play football… or go skiing… …we wouldn’t have any farmers (one of the most dangerous occupations) or lumberjacks, or firefighters, or deep sea divers… or dozens of other hazardous occupations… …and we would lower the speed limit to 20 mph. And if staying alive were the only goal in life, we would all stay home… all the time. Like business magnate Howard Hughes, we would shuffle around our houses with Kleenex boxes for shoes… and use Kleenex tissues to pick up things for fear they might have germs on them. Did that prolong Hughes’ life? When he died in 1976, he was just 70 years old, and still one of the richest men in the world. But it was as if he had starved to death. He was 6’4” tall, but weighed only 90 pounds. He was such a wreck – unwashed, unkempt, unfed – that the FBI had to check his fingerprints to identify him. What kind of a damned fool would want to live like that? | Recommended Link | | 30-Second 5G “Live Demo” You Have to See In a 30-second “live demo” in front of the White House, 5G insider Jeff Brown shows how 5G is 80x faster than 4G. Fair warning: This demo is only available for a very limited time. | | | -- | War Against the Economy With Dr. Fauci as its commander in chief, the feds’ war against the COVID-19 virus seems increasingly preposterous. But their war against the U.S. economy will probably do more lasting damage. Yesterday, it came out that the unemployment toll over the last three weeks has reached nearly 17 million… the most in history. Jay Powell, the Federal Reserve chief who claimed the economy was in “a good place” just a month ago, now says: People have been asked to put their lives and livelihoods on hold, at significant economic and personal cost… We are moving with alarming speed from 50-year lows in unemployment to what will likely be very high, although temporary, levels. Why a series of small stocks could soar 10x or more during this next phase. As we pointed out earlier this week, the U.S. government is conducting one of the biggest… most bizarre… and most futile experiments in economic history. First, it is destroying the heart and soul of our prosperity – the win-win, give and take deals in the free market economy. Second, it is setting out to replace real economic losses with fake money. And we think we know how this is going to turn out. (If you’re a Bonner-Denning Letter subscriber, keep an eye on your inbox today for Dan’s weekly update. If you’re not a subscriber, you probably should be.) Beginning of the End Yesterday brought a preview of what’s ahead. Stocks rose. But the economy fell. Another 6.6 million people applied for unemployment benefits. And that is not the end… nor even the end of the beginning. It’s the beginning of the end. As Dan will explore in his weekly Bonner-Denning Letter update later today, this month is usually the biggest month for the feds’ tax receipts. But this month, receipts are going to be down – big time. People won’t be paying taxes because they haven’t earned any money. And they won’t be paying their credit card bills. Or their rents. Or their mortgages. Check this out from Bloomberg: Mortgage Defaults Could Pile Up at Pace That Dwarfs 2008 Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem. Bear markets do not end with investors looking for the bottom… and eagerly buying the dip. They end in desperation and capitulation… when animal spirits have disappeared… and optimism has been wrung out the system. At the end, investors are not looking for bargains. They’re not calling their brokers, hoping to get in on the next bull market. Instead, they want nothing to do with stocks and would like to punch their brokers in the face. Mad Experiment Of course, the feds won’t sit still while these remarkable things are happening. They will make them worse. That is what the second part of this mad, mad, mad experiment is all about… and it’s where the biggest losses will occur. The feds are trying to disprove Say’s Law… which tells us that real wealth comes from producing things, not from money. Whether locking down the economy made sense epidemiologically or not, we don’t know. But it surely magnified the nation’s real losses. Now, the feds claim to be “making up” for those losses by showering the economy with helicopter money – trillions of dollars’ worth of printing press money. 5G's Secret Engine Revealed in 2020. Like manna from Heaven, it is dropped on the just as well as the unjust… the prudent as well as the reckless… the unemployed as well as those still with jobs… on those who need the money, and those who don’t. Seven out of 10 small businesses are already in line for the $350 billion giveaway they were promised in March. And big businesses have their lobbyists all over Washington, eager for their piece of the Fed’s $2 trillion-plus relief package. But while the feds may be able to fake out investors, and boost stock prices with fake money, fake money can’t produce real wealth. | Recommended Link | | Politicians love this dangerous law for investors A scary new political trend is taking over America… from college campuses… to even the U.S. Congress. It's a radical "reform" of the U.S. dollar… meant to create a "fairer" and more "equal" society… Supporters claim this reform is necessary to solve "social and economic injustice." But there's a darker truth behind this trend. If you are an investor… own life insurance or annuities… or have substantial savings in an FDIC-insured bank account… then you need to be aware of serious risks. | | | -- | Get Rich or Get Crucified Looking ahead, we see more carnage… nonsense… and delusion to come. There will be wailing and gnashing of teeth. There will be scapegoating… false idols… and demagogues with quack solutions. There, too, riding into town on the back of a donkey, is the innocent, win-win economy. But the mob has turned against it. “Give us Donald!” shout the rabble. “Give us Nancy!” “Give us a Universal Basic Income and free toilet paper!” And one man – one of the most famous public officials since Pontius Pilate – stands as judge. U.S. Treasury Secretary, Mr. Steven Mnuchin, will play a commanding role in deciding who gets rich… and who gets crucified. And whatever else comes of this crazy period, we’ll bet that he and his friends will emerge even richer than they are now. Regards, Bill P.S. What’s next? What changes are coming… to our government… our society… our economy? And what should you do with your money NOW? Along with colleagues Dan Denning and Tom Dyson, we set out to answer those questions. We put together a full report – After Armageddon – along with a Crisis Portfolio to guide you through these dangerous times. Don’t miss it. Learn more here. Like what you’re reading? Send your thoughts to feedback@rogueeconomics.com. 
| Note From the Publisher You’ll notice a kind of “cosmetic” change in your Diary subscription. Don’t worry. You’ll still get absolutely everything you get right now. But going forward, Bonner & Partners will be called “Rogue Economics.” Longtime readers will recognize the idea of rogue economics… Bill launched the Diary of a Rogue Economist in 2013, to just a few thousand subscribers, when he formed his own boutique publishing business. Over the last seven years, his daily diaries (which became Bill Bonner’s Diary in 2015) have reached millions of readers. And his small, niche business has grown into one of the largest and most successful publishers in the industry. As part of that growth, we’ve introduced new voices… Diary readers regularly hear from tech expert Jeff Brown, world-traveler Tom Dyson, famed speculator and “anarcho-capitalist” Doug Casey, crypto guru Teeka Tiwari, longtime trader Jeff Clark, commodity analyst Dave Forest, and many others… In other words, we’ve been sharing more than just Bill’s ideas. And it’s time for our name to reflect that. Otherwise, nothing will change. You’ll still find Bill – his stories, insights, and wisdom – where you always have. It’ll just have a slightly different look. And you can expect more unique ideas from other big thinkers in our pages. Best regards, Amber Lee Mason
Publisher P.S. As always, let us know what you think – good or bad. You can now write us at: feedback@rogueeconomics.com. | | - | FEATURED READS Coronavirus Economy Worst Since 1930s Depression
The International Monetary Fund issued a “bleak assessment” of the global economy earlier this week, citing a recent UN report that says 81% of the world’s employment has been interrupted. And the outlook for 2021 is wholly uncertain… Now’s the Perfect Time to Buy Gold
Bill, Tom, and Dan believe gold is a crucial part of any portfolio. If you’re looking to increase your exposure to the metal through stocks, read on for commodities expert Dave Forest’s recommendation… MAILBAG Today, Dear Readers talk about the economy’s “producers,” as Bill referenced in Wednesday’s Diary, “We’re All Gauchos Now”… You have made several comments about giving away money and the effects of never recovering lost production. While hard to argue against, ever since the ’80s – give or take a decade – it seems that a growing proportion of our economy is driven by those that are making money just by having a lot of money, not by producing anything but their own wealth. How does that play into your thoughts? And do you have any idea what the percentages might look like for the parts of the economy that are based on those actually producing products or services? What about the percentages based on using money to make more money… and is that really a loss of production? – Scott P. Very quick, I would be very careful grouping President Trump in with Nancy Pelosi. It shows your ignorance. We are at war with the Democratic Socialists Party that wants to destabilize and overthrow the current duly elected government. Trump is, and always has been, a wealth “producer,” like your articles talk about. So, for you to group him in with a career politician, an actual parasite on our society, truly displays extreme ignorance. Not to mention destroys your credibility. But you must either be getting very old like Joe Biden or someone else is penning your work. – David S. While another Dear Reader says common sense could have prevented the coronavirus shutdown entirely… Thanks for all your comments on the virus and the economy, as well as your ranch. Being shut in, I look forward to reading! I believe that when things settle down, it will turn out that this is just a very bad flu. Using common sense that most people seem to forget (washing your hands, coughing in your elbow, staying home if you’re sick, etc.), giving our immune systems the chance to build up immunity to this strain of virus would have worked far quicker (with the exception of those people that are in the high risk category) than totally shutting down our economy. – Judy M. Is it ignorant to group Donald Trump in with politicians like Nancy Pelosi, like David believes? Is the economy driven by the wealthy producing their own wealth, as Scott says? Write us at feedback@rogueeconomics.com. IN CASE YOU MISSED IT… Dangerous Myths About Coronavirus There are dangerous myths going around about the coronavirus pandemic. One of the nation's top angel investors, Jeff Brown, tapped into his network of medical and health professionals. And he smashes these myths in this video. 
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