The Real Reason We Have a Welfare State

The Swiss voted against awarding all citizens a “universal basic income” of about $30,000 a year, regardless of whether they have work or not. But the idea is unlikely to go away. Two-thirds of British voters say they are in favor of the idea. And Canada’s Ontario province is set to try something similar. If you’ve been following these Diary entries, you know how and why we have a welfare state.


The Deep State Is Coming for Your Savings…

BALTIMORE – Is there really a “War on Cash”?  No. There’s a war on you.  We’ll come back to that in a minute… First, a quick roundup of last week’s action. Rig Plunge Friday brought more bad news for U.S. shale oil producers. (More on this below in today’s Market Insight.) Reports Bloomberg: The number […]


Bigger Than a Bear Market

But of that day and that hour knoweth no man, no, not the angels which are in heaven, neither the Son, but the Father. – Mark 13:32 BALTIMORE – Again, not much movement in the U.S. stock market. All eyes were on U.S. politics. The Ides of March came… and yea, went… with poor Marco […]


This Country Is So Screwed Up

First they ignore you. Then they laugh at you. Then they attack you. Then you win. – Quote Donald Trump misattributed to Mahatma Gandhi And then they realize what a dumb jerk you really are. – Addendum offered by Bill Bonner SOUTH CAROLINA- We’re still down here in South Carolina, where the sandy soil and […]





Dairy Farmer Suspected Of Money Laundering Loses $63,000

You may not think the IRS is out to get you, but consider this recent story from the Washington Post. Richard Severson – a 61-year-old farmer from Maryland – earned his living selling milk and eggs at farmers’ markets throughout Fredericks County. The business left him with lots of cash. And naturally, he decided to […]


The Case for Outlawing Cash

September is here. As expected, market volatility is increasing. The Great Zombie War is intensifying. And investors are getting scared. Yesterday, the Dow lost 470 points – a nearly 3% drop.