This my friends, is the reason why I am a BPR subscriber, no one can lay it on thick and spread the cream like Bill Bonner. A beautiful masterpiece at hand. Truly from the heart, but best of all, he writes from knowledge and experience. Take heed, the financial slaughter fest is well underway, the systemic hedge cracks are clearly visible, and the pain is just one bottle of Vicodin away! Best, 😃😂
According to The Fraser Institute if I recall, 40% of Canadian's income to debt ratio's is 116% I think that might be conservative. Everyone I met believed the best place to be was in real estate and can't go wrong, "prices never go down" !. What I couldn't understand is why I was getting nothing in return, hell, less than nothing.
It’s kinda like playing at the casino. The odds will ALWAYS be stacked against you. That is, unless you are an elite, but that’s a very broad term and not very easy to accurately define.
Perhaps using a monetary gauge, if your net worth is over $100 million, the odds may tilt on your end, or perhaps at that point you are holding the croupier’s stick and labeled an elite.
For the rest of us, small fish, or under $100 million, you need to have an “advantage” to make it work, or like one of my mentors, a true elite in real life, likes to say, “never tell me the odds”! (Han Solo) 😂 J/K.
The rich people love that the general public eats up all the basic money making gimmick information out there, and they talk about it to their friends and family like if they were experts. The same old hogwash bullshit about making money with stocks, bonds, and real estate, and don’t forget one of the biggest gimmicks out there, the 401K, max it out, max it out they say! Hahaha, too funny!😂
Pay off all of your debt, and I mean everything, then live off debt, i.e. loans, because you don’t pay taxes on loans, and pay off your balances every month, so you don’t pay interest. 😂, does that make sense?
Invest in yourself, learn a unique trait, like perhaps you can advise security companies, or earn a financial degree and tell people what to do with their money, and get paid for it. 😂 Always being marketable.
Real estate, stocks, ETF’s, Index Funds, should not be your primary source of income, when you’re first starting out. They may eventually replace your main source income, but the approach I don’t see the other way around. Just my opinion of course, and the other way has been done before, so essentially there is no wrong way there.
Like a politician, I cannot answer your statement with a direct answer, for various reasons, 😂 but also being a business owner, in conjunction with the aforementioned often works out for some folks. 😃
Thank You! I am aware of all the above ways and am situated for any crisis. But I feel you can always learn from others. Thanks again and good luck to all of us.
I don’t trust the bond market one bit, shady government meddling. Something up their sleeves, it can’t be that easy to remedy 20 years worth of screw ups with overnight express solutions.
Something’s lurking on the horizon, sticking its ugly head out, like the Loch Ness monster, prepping itself to devour innocent bank accounts! I’m covered, but “I pity the fool”. 😂
Meant in good faith, I would not say it any other way. There are a lot of people on this blog that often mention your writing style, and your comments likely draw them to this section of the app. Not a bad thing.
Mouth watering, reading about some of your favorite dishes!
Good ideas, perspectives, analytics, and logic from your standpoint.
Guess the best thing to say then is to keep it up, and thank you for sharing your thoughts, an open mind makes for happy interactions, unless of course you want to skin Vladimir inside out! 😂
Like you he has his viewpoints and because some of them differ so dramatically from yours, it does not reflect well on you when you are so critical of his writings.
I just had my biannual portfolio review with my Fidelity advisor. I’ve been with him about 7 years now and find him to be knowledgeable and competent. But I have noticed over the years that the entire professional money management industry sings out of the same song book, all the time, in all markets. I have had a number of professional money managers over the decades, and in toto have gotten sub-market performance from them. I know people who have done better, so perhaps I have been unlucky.
But I have NEVER gotten contrarian advice at any time and in any market. In short, the industry appear to be a bunch of lemmings. I got completely out of the markets and moved to cash last December, not on professional advice but on my own intuition, fueled in no small part by listening to Bill during the previous year. Turns out that was a good move, but my Fidelity guy believes I over-rotated. He now recommends 20% stocks(S&P 500), which is as low as they(the professionals) will ever go, and 20-30% Agency bonds, claiming they were paying over 9% and were “very low risk.” He admitted that in his own portfolio he is only about 20% cash and is down only 9% ytd.
My question is do you have a specific take on Agency bonds in the near/medium term, and do you have any comments to add to mine about the professional money management industry? To be honest, my biggest personal problem with Agency bonds is turning more of my money over to the government. Appreciate your input
My "two cents" on professional money management -- the typical 1% fee cuts deeply into your return over the long term and is not worth it unless you have a complex financial portfolio or you are clueless/disinterested about investing. My mother's Ameriprise advisor was worth every penny since she hated investing in general and didn't want to be bothered with all the details. In my case, a 1% fee is thousands of dollars per year for advice not much better (maybe worse) than what I get from BPR and other sources. Vanguard handles my paperwork for almost zero cost.
Your guy was trained in conventional wisdom. This is the greatest financial crack up in the world. His training is now obsolete and he does not know it.
"Under pressure from central bankers determined to quash inflation even at the cost of a recession, global bonds slumped into their first bear market in a generation."
Yes Bill/Joel, sometimes we are all wrong. Sometime man cannot figure outcomes when the rules have changed, and your not in on it...
Yes gentlemen, the world is paddling in uncharted waters, and we have no idea what monsters are living deep in those dark, dank, filthy corrupt waters, but we do!
The entire planet now lives in horror and awe at the audacity of our controlled governments, colluding in perfect harmony to take down the world in which we live. The "GREAT RESET"...To murder our own and steal our wealth, to impoverish us into submission.
Will we submit? Will we Obey? That my friends is a story for another day, but until then, live/love, invest wisely and Think! Think about what is happening, Think on how we can make it better. Think...and communicate, organize...Think my friends, for our thoughts will make or break us :)
"What is important about interest rates is not that they are high or low, but that they are honest."
And the lies have permeated all of society -- just consider your wedding table conversation in the previous articles. It is delusional to think that a society not saving can increase its wealth and standard of living. It's similarly delusional to think that living for today in all respects (ie, not "saving" by investing time and resources into children) will result in a better society tomorrow.
Hans Hermann Hoppe mentioned something like this years ago in a talk about time preference and gays and took heat over it. Pretense about any moral license and government promises to save you from the consequences don't change reality any more than fed lies about interest rates save you from making loan payments. Arguably an enduring moral code is the one that promotes survival and growth and keeps the future storms manageable, because they always come -- "be fruitful and multiply," "do unto others..," "thou shalt not kill," etc.
All that said, if we have to make a vicennial trade, is it long Hungary, which is seeking family growth by tax breaks for large families and short Japan, which some ten years ago was consuming more diapers for adults than for infants? Maybe other countries are doing the same as Hungary. Augustus tried it.
If the Fed creates the money, then lends it out to banks and govt, the ups the interest rate that the money is paid back at, doesn’t that benefit the Fed? That smells fishy as 3 day old crawfish bait. If you’ve never seen the money portion of the film Zeitgeist it’s well worth your time.
Yep, the fed and banks have no say in anything. They are the puppets of our incredibly intelligent government...and Powell is just another God fearing, Bible thumping good American... Sorry bro, you're wrong, and much smarter then that!
I'm sure you read the story by G. Edward Griffin, and when you travel a little deeper down the wormhole, you see who runs who, who creates who, who protects who...and who controls what!
When you dig a little deeper, you see how the same nations we are at odds/war with, the same companies/media/politicians/men...are all created by our banks/Fed. Not one Microsoft, Amazon or Apple would be here less the Feds/banks. They are the masters of our universe, the puppet masters of our media/government...we the people...
Dig my brother, dig a little deeper and find the horror at the end of the rainbow(yes, that rainbow). True Knowledge is the only power...
In the meantime, lets try to find that perfect place to live in harmony, while the rest of the world gets "RESET":)
Some don't understand the damage of having a central bank. Just because it is legal does not make it moral. The Fed is there to take from us. Total BS they thought inflation was transitory. They know what are doing. Without the Fed the wars end. Any defense of the Fed shows a lack of understanding.
This my friends, is the reason why I am a BPR subscriber, no one can lay it on thick and spread the cream like Bill Bonner. A beautiful masterpiece at hand. Truly from the heart, but best of all, he writes from knowledge and experience. Take heed, the financial slaughter fest is well underway, the systemic hedge cracks are clearly visible, and the pain is just one bottle of Vicodin away! Best, 😃😂
I'm beginning to understand some of this.
According to The Fraser Institute if I recall, 40% of Canadian's income to debt ratio's is 116% I think that might be conservative. Everyone I met believed the best place to be was in real estate and can't go wrong, "prices never go down" !. What I couldn't understand is why I was getting nothing in return, hell, less than nothing.
It’s kinda like playing at the casino. The odds will ALWAYS be stacked against you. That is, unless you are an elite, but that’s a very broad term and not very easy to accurately define.
Perhaps using a monetary gauge, if your net worth is over $100 million, the odds may tilt on your end, or perhaps at that point you are holding the croupier’s stick and labeled an elite.
For the rest of us, small fish, or under $100 million, you need to have an “advantage” to make it work, or like one of my mentors, a true elite in real life, likes to say, “never tell me the odds”! (Han Solo) 😂 J/K.
The rich people love that the general public eats up all the basic money making gimmick information out there, and they talk about it to their friends and family like if they were experts. The same old hogwash bullshit about making money with stocks, bonds, and real estate, and don’t forget one of the biggest gimmicks out there, the 401K, max it out, max it out they say! Hahaha, too funny!😂
Very interesting! I am curious as to where you make your money.
Pay off all of your debt, and I mean everything, then live off debt, i.e. loans, because you don’t pay taxes on loans, and pay off your balances every month, so you don’t pay interest. 😂, does that make sense?
Invest in yourself, learn a unique trait, like perhaps you can advise security companies, or earn a financial degree and tell people what to do with their money, and get paid for it. 😂 Always being marketable.
Real estate, stocks, ETF’s, Index Funds, should not be your primary source of income, when you’re first starting out. They may eventually replace your main source income, but the approach I don’t see the other way around. Just my opinion of course, and the other way has been done before, so essentially there is no wrong way there.
Like a politician, I cannot answer your statement with a direct answer, for various reasons, 😂 but also being a business owner, in conjunction with the aforementioned often works out for some folks. 😃
Thank You! I am aware of all the above ways and am situated for any crisis. But I feel you can always learn from others. Thanks again and good luck to all of us.
I needed the laugh, thanks !
I don’t trust the bond market one bit, shady government meddling. Something up their sleeves, it can’t be that easy to remedy 20 years worth of screw ups with overnight express solutions.
Something’s lurking on the horizon, sticking its ugly head out, like the Loch Ness monster, prepping itself to devour innocent bank accounts! I’m covered, but “I pity the fool”. 😂
If I print money I go to jail. Thank you but I do understand. Without the Fed all the chicanery would to end. They are criminals in my opinion.
PGV, I've enjoyed your commentary immensely over the last months... if Bill doesn't already pay you he should, you are an interesting character
Meant in good faith, I would not say it any other way. There are a lot of people on this blog that often mention your writing style, and your comments likely draw them to this section of the app. Not a bad thing.
Mouth watering, reading about some of your favorite dishes!
Good ideas, perspectives, analytics, and logic from your standpoint.
Guess the best thing to say then is to keep it up, and thank you for sharing your thoughts, an open mind makes for happy interactions, unless of course you want to skin Vladimir inside out! 😂
J/K 🤣
PGV should start his own subscription and call it The Daily PB&J.
Peanut butter and jelly sandwich! 😃
Food for thought. Ever think of running for an office again?
No need to be so critical of Bill's writings, PG.
Like you he has his viewpoints and because some of them differ so dramatically from yours, it does not reflect
Oops slip of the fingers,
Like you he has his viewpoints and because some of them differ so dramatically from yours, it does not reflect well on you when you are so critical of his writings.
Without the Fed they can't print. Only borrow.
Question for Dan or Tom,
I just had my biannual portfolio review with my Fidelity advisor. I’ve been with him about 7 years now and find him to be knowledgeable and competent. But I have noticed over the years that the entire professional money management industry sings out of the same song book, all the time, in all markets. I have had a number of professional money managers over the decades, and in toto have gotten sub-market performance from them. I know people who have done better, so perhaps I have been unlucky.
But I have NEVER gotten contrarian advice at any time and in any market. In short, the industry appear to be a bunch of lemmings. I got completely out of the markets and moved to cash last December, not on professional advice but on my own intuition, fueled in no small part by listening to Bill during the previous year. Turns out that was a good move, but my Fidelity guy believes I over-rotated. He now recommends 20% stocks(S&P 500), which is as low as they(the professionals) will ever go, and 20-30% Agency bonds, claiming they were paying over 9% and were “very low risk.” He admitted that in his own portfolio he is only about 20% cash and is down only 9% ytd.
My question is do you have a specific take on Agency bonds in the near/medium term, and do you have any comments to add to mine about the professional money management industry? To be honest, my biggest personal problem with Agency bonds is turning more of my money over to the government. Appreciate your input
Brien Akers
Kenmore, WA
My "two cents" on professional money management -- the typical 1% fee cuts deeply into your return over the long term and is not worth it unless you have a complex financial portfolio or you are clueless/disinterested about investing. My mother's Ameriprise advisor was worth every penny since she hated investing in general and didn't want to be bothered with all the details. In my case, a 1% fee is thousands of dollars per year for advice not much better (maybe worse) than what I get from BPR and other sources. Vanguard handles my paperwork for almost zero cost.
Your guy was trained in conventional wisdom. This is the greatest financial crack up in the world. His training is now obsolete and he does not know it.
"Under pressure from central bankers determined to quash inflation even at the cost of a recession, global bonds slumped into their first bear market in a generation."
Yes Bill/Joel, sometimes we are all wrong. Sometime man cannot figure outcomes when the rules have changed, and your not in on it...
Yes gentlemen, the world is paddling in uncharted waters, and we have no idea what monsters are living deep in those dark, dank, filthy corrupt waters, but we do!
The entire planet now lives in horror and awe at the audacity of our controlled governments, colluding in perfect harmony to take down the world in which we live. The "GREAT RESET"...To murder our own and steal our wealth, to impoverish us into submission.
Will we submit? Will we Obey? That my friends is a story for another day, but until then, live/love, invest wisely and Think! Think about what is happening, Think on how we can make it better. Think...and communicate, organize...Think my friends, for our thoughts will make or break us :)
"What is important about interest rates is not that they are high or low, but that they are honest."
And the lies have permeated all of society -- just consider your wedding table conversation in the previous articles. It is delusional to think that a society not saving can increase its wealth and standard of living. It's similarly delusional to think that living for today in all respects (ie, not "saving" by investing time and resources into children) will result in a better society tomorrow.
Hans Hermann Hoppe mentioned something like this years ago in a talk about time preference and gays and took heat over it. Pretense about any moral license and government promises to save you from the consequences don't change reality any more than fed lies about interest rates save you from making loan payments. Arguably an enduring moral code is the one that promotes survival and growth and keeps the future storms manageable, because they always come -- "be fruitful and multiply," "do unto others..," "thou shalt not kill," etc.
All that said, if we have to make a vicennial trade, is it long Hungary, which is seeking family growth by tax breaks for large families and short Japan, which some ten years ago was consuming more diapers for adults than for infants? Maybe other countries are doing the same as Hungary. Augustus tried it.
Be glad you're old, Bill.
If the Fed creates the money, then lends it out to banks and govt, the ups the interest rate that the money is paid back at, doesn’t that benefit the Fed? That smells fishy as 3 day old crawfish bait. If you’ve never seen the money portion of the film Zeitgeist it’s well worth your time.
Yep, the fed and banks have no say in anything. They are the puppets of our incredibly intelligent government...and Powell is just another God fearing, Bible thumping good American... Sorry bro, you're wrong, and much smarter then that!
I'm sure you read the story by G. Edward Griffin, and when you travel a little deeper down the wormhole, you see who runs who, who creates who, who protects who...and who controls what!
When you dig a little deeper, you see how the same nations we are at odds/war with, the same companies/media/politicians/men...are all created by our banks/Fed. Not one Microsoft, Amazon or Apple would be here less the Feds/banks. They are the masters of our universe, the puppet masters of our media/government...we the people...
Dig my brother, dig a little deeper and find the horror at the end of the rainbow(yes, that rainbow). True Knowledge is the only power...
In the meantime, lets try to find that perfect place to live in harmony, while the rest of the world gets "RESET":)
Some don't understand the damage of having a central bank. Just because it is legal does not make it moral. The Fed is there to take from us. Total BS they thought inflation was transitory. They know what are doing. Without the Fed the wars end. Any defense of the Fed shows a lack of understanding.
PG V, I've enjoyed your commentary immensely over the last months... if Bill doesn't already pay you he should, you are an interesting character