| By Bill Bonner This world runs on individuals pursuing their separate interests. The great achievements of civilization have not come from government bureaucrats. Einstein didn’t discover his theory of relativity on an order from a bureaucrat. Henry Ford didn’t revolutionize the automobile industry that way. In the only cases the masses have escaped the grinding poverty you’re talking about, the only cases in recorded history are where they’ve had capitalism and largely free trade. If you want to know where the masses are worse off, it is exactly the kinds of societies that depart from that. So the record of history is absolutely crystal clear, there is no alternative way, so far discovered, of improving the lives of ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system. – Economist Milton Friedman on the Phil Donahue Show, 1979  | SAN MARTIN, ARGENTINA – We’re all sitting on the edge of our seats… eagerly awaiting a glorious future led by bureaucrats. Yes, the apparatchiks and funcionariat are creating a Brave New World… Or so they claim. They aim to prove Friedman wrong… as almost the entire world tries to replace capitalism and real money with government-managed economies and fake money. Japan says it will pump in $1 trillion. And it declared a state of emergency. Nancy Pelosi says she’ll match that with “at least” another $1 million from the U.S. Germany promised “limitless” support for small businesses. The European Union is talking about a $540 billion program. And the Federal Reserve is ready to pitch in $2.3 trillion in new money. Old-fashioned getting and spending is out of date… démodé… behind the times. Now we can replace real earnings, real wealth and real money with… fake money! Meanwhile, The Wall Street Journal reports that there are fewer and fewer people making any money at all: A second wave of job loss is hitting those who thought they were safe. Businesses that set up employees to work from home are laying them off as sales plummet. Corporate lawyers are seeing jobs dry up. Government workers are being furloughed as state and city budgets are squeezed. And health-care workers not involved in fighting the pandemic are suffering. Goldman Sachs says the downturn will be “four times worse than 2008.” And demand for oil is so weak, the black goo is selling for less than $20 a barrel. There’s so much of it sitting around that oil tankers are now being used for storage, with rental rates as high as $300,000 per day (usually only about $15,000). But don’t despair. Aux barricades! Ils ne passeront pas! The fake money is on its way. Heroes of the Revolution As of yesterday, 1.1 million small business loans had already been approved, totaling $253 billion in bailout money. The feds’ $350 billion small-business relief fund is almost exhausted. Wow! These Small Business Administration bureaucrats should be designated “first responders”… or “heroes of the revolution.” They’re processing the giveaways at a fantastic rate. Apparently, they carefully examined 6,547 applications each hour for the last three weeks. That’s 109 every minute. Just Announced: The Top Three Tech Royalties for 2020. At the rate of one every half a second, they had to check out the facts… verify the value of collateral… and assure themselves that everything was on the level – after all, they were giving out as much as $2 million per application! Who gets the money? We don’t know, but like subprime mortgages in 2007, all you need is a pulse. Even hedge funds are eligible. | Recommended Link | | All this Hype about 5G is Pointless. Here's Why By now you've heard big promises about 5G. 5G will make you rich… 5G will change your life… 5G will usher in the new Industrial Revolution. You've seen the Super Bowl commercials. And every one touting the next big 5G stock. But here's the hard truth the pundits will never say… All the hype about 5G is useless. Without the technology of this one tiny company, there will be no 5G rollout across America. That's why Facebook, Lockheed Martin, L3, Sprint, T-Mobile, China Satcom, and dozens of networks are banging on this company's door. And for the first time, this tiny $8 company is about to roll out this long-awaited technology. To be one of the first to get in on this big stock market opportunity… | | | -- | They may be reckless gamblers and inveterate speculators… run by people making millions of dollars. But they qualify as small businesses! Many of them must have forgotten to hedge. Now they need a bailout! Here’s The Intelligencer with details: If you are a company, nonprofit, veterans organization, or tribal concern with 500 or fewer employees – or else, a self-employed individual or independent contractor – the government will provide you with a loan equivalent to eight weeks of your prior average payroll (or, for the self-employed, earnings), plus an additional 25 percent of that sum (unless that grand total adds up to more than $10 million, which is the cap for any individual firm). You do not need to make any payments on that loan for six months. And if you maintain your workforce, then the government will entirely forgive the portion of the loan spent on payroll, benefits, utilities, rent, mortgage payments, or other debts. In other words, it will forgive more or less all of it. | Recommended Link | | 10 Stocks to Avoid During the Coronavirus Crash I shot this emergency video to give you some advice on the coronavirus. Especially when it comes to your stock market investments. There are 10 stocks he thinks you should avoid right now. These are going to be the big losers in the coronavirus crash. | | | -- | The Feds’ Fatal Flaw Yes, Dear Reader… The authorities – governments all over the planet – have a fatal flaw. They always want more power… and more control. They (and their media toads) scare the bejeezus out of the public… and rouse the country to self-mutilation… making war against enemies, real and imaginary. Drugs, poverty, the Koreans, the Vietnamese, Iraqis, terrorists, a virus… and the market economy itself! When COVID-19 showed up, the feds got out the bazookas. The president’s chief economic advisor, Larry Kudlow, even proposed selling “war bonds” to pay for it. The lockdown forced people to stop “pursuing their separate interests,” to borrow Milton Friedman’s words. Instead, Americans join the revolution – sheltering at home as they wait for their bailout checks to arrive in the mail. And there, leading the charge are the feds – bureaucrats, politicians, cronies, swamp critters and Deep Staters – with trillions in fake new money. We don’t know whether their approach to fighting the virus saves lives or not. But their revolt against old-fashioned market capitalism is certain to be a failure. Regards, Bill P.S. The next few years should be a rollicking, frolicking, helluva time for investors. Very few people have any idea of what is going on. And fewer still share our own view. We wrote a letter and put together a series of reports to help you through this crisis. We hope we’re wrong. But we fear we’re not. You should decide for yourself. 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 U.S. Raised Alarm Over Coronavirus Testing Protocols in Wuhan Lab in 2018 In 2018, U.S. officials visited the Wuhan Institute of Virology, and afterwards voiced concern over protocols used there by scientists researching coronaviruses. Click here to learn more about these concerns, and what officials expected if the viruses weren’t properly contained… Why 5G Technology Is a Key Part of Trump’s Agenda President Trump has been fighting for 5G technology development since 2018. With this new tech comes higher data speeds and faster processing for things like video streaming. But to find out the real reason why Trump’s backing it so strongly, we turn to tech expert Jeff Brown… MAILBAG Two Dear Readers share their thoughts regarding Bill’s take on the U.S. coronavirus situation… The truth is that while you write and constantly complain, i.e. tell the truth, it accomplishes nothing towards solving the problems we are faced with as a country. The rest of the world comes later. You have the right ideas, the right truths, and the enormous databases of potential voters and financial contributors that are needed to grow a new, viable political party. Instead of pointing out why the U.S. government is the train wreck it is, it’s time for you to put your ideas, money, and wisdom to good use. Do this for your children, grandest children, and the future generations that will never know what a good and free life is unless you do. – Michael H. I think you're unable to see the forest for the trees, Bill. While you bemoan the feds' insane responses to the coronavirus because they are messing up the economy even more than it already is, you're missing the point… because that is the point. Perhaps God, Mother Nature, the Universe, karma – call it what you will – is using the coronavirus to force humanity to correct its actions so that we end up with a better world after all is said and done. The present-day economy has been built upon an irrational and unsustainable house of cards. Rather than produce what we need locally, we consume resources, burn fossil fuels, waste time, and pollute the environment to ship goods all around the planet in the name of the almighty “Global Economy.” The coronavirus has virtually shut down said global economy. We also have non-polluting, renewable, forms of energy available to us, but the oil, coal, and gas corporations suckle at the teat of government generosity on the milk lactated by their paid-for politicians and actively depress the renewable energy industry. I could go on, but the point is clear: The coronavirus may be the best thing that has ever happened to us . . . and, to the world economy. – Dale A. While another Dear Reader shares a personal coronavirus story… My two grown kids in their 40s have already likely had coronavirus. 104-degree temperatures, aches all over, difficulty breathing. Their doctor could not help. Two hospitals refused to test them because they had not returned from China… national guidance from the White House at that time! Even now, no RX except chicken noodle soup and Aspirin or Tylenol; maybe Tamiflu. Only last-resort ventilators for the near-death patients to help this late. I am 77, and healthy otherwise, and they told me they did not think I could live through this thing. – James C. Is creating a new political party a solution to today’s political chaos, as Michael believes? Is coronavirus forcing us to create a better future, like Dale says? Write us at feedback@rogueeconomics.com. IN CASE YOU MISSED IT… Inside A Money-Making System Like No Other Teeka Tiwari has an exclusive to share with you. He has revealed a remarkably accurate new trading system that has been credited with calling almost every major market move for the past two decades. You could have seen the chance to take profits such as $2,187, $5,100, or $7,643 off the table in just 3 to 8 days. The system had an 80% success rate… with the opportunity to make over $45,100… including losses. Details here. 
Get Instant Access Click to read these free reports and automatically sign up for daily research. | 
No comments:
Post a Comment