Bonner Private Research

Bonner Private Research

Home
Weekly Updates
Research Reports
Private Briefings
Monthly Strategy Report
FAQs
Tom's Postcards
About

April 2025

Your May 2025 Report
Monthly Strategy Report
 • 
Tom Dyson
20
Conspiracy of Dunces
All political arrangements, being part of life itself, decay over time. Constitutions are re-interpreted. Public mores become more elastic. Bread and…
 • 
Bill Bonner
 and 
Dan Denning
89
Place at the End
One man shoveled for a while and then turned the tool over to someone else. It continued until the hole was filled. Rocks were placed on top...with a…
 • 
Bill Bonner
50
Tools of History
How do empires die? While there is no single answer as to what does them in, opinions converge on the two main empire killers...money and military. Too…
 • 
Bill Bonner
51
Breaking Up
We got the letter below from Edward Bonner on Friday.
10
Shockwaves
In an ‘Inflate or Die’ world, prices will tend to rise. The only strategy question is whether you get an inflationary boom or an inflationary bust…
 • 
Dan Denning
19
Unfinished Business
The DOGE campaign made no more headway than the trade war. The problem was spending…not how the money was spent. And spending levels are determined by…
 • 
Bill Bonner
64
Mission Accomplished
Trade wars lead to falling stock prices. And prices only go back up when investors believe the trade war has been called off.
 • 
Bill Bonner
65
Debasement and Deleveraging Scares
The key to understanding the Big Picture is to realize that the stock market – not trade or tax revenues or America’s economy – is the collateral…
 • 
Tom Dyson
32
Objects in Motion
America has $269 trillion worth of assets. But it has $145 trillion of debt and only $29 trillion of output (GDP). We know that asset prices change…
 • 
Bill Bonner
125
Tranquilo
Gold has been good to us. “Tranquilo.” The world of stocks, on the other hand, seems dangerous, unpredictable and unproductive. And stock prices are…
 • 
Bill Bonner
 and 
Tom Dyson
96
© 2025 Bonner Private Research
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture