Almost 2000 years ago, something very similar happened in Rome. As the empire weakened, the elite saw the end coming. They began openly “extracting” wealth from the system. They avoided taxes, sold influence, took bribes, and debased the currency until silver coins were basically copper with a silver wash — from 98% silver to around 5% near the end.
Inflation exploded. Ordinary Romans were paid in money that was worth less every month. The rich insulated themselves by buying hard assets: land, slaves, private armies, and fortified estates. They weren’t trying to save Rome. They were preparing for what came after.
When the empire finally collapsed, those elites simply became feudal lords. The state died. Their wealth didn’t.
You overlook the fact that not only did they counterfeit the money, they counterfeited Roman citizenship for the sake of labor and taxes. Does THAT sound familiar? Best always. PM
It does. Neither side is doing this right. But that's why the constitution was written the way it was - when it isn't going "right" the people have the right to make it so.
Well, Bill, I have been reading you for several year now. And like so many others, I grow weary of the doom-saying. By now those of us who can learn (or be convinced) either agree with you or stop reading after the first sentence or two. Far be it from me to tell you how to run your newsletter, but perhaps it's time to try a new tack: don't tell us what's wrong -- tell us how to make it right. Then when we go to the polls we can vote for the person who promises to do what you think should be done.
The only way a serious reformer ever makes the ballot is if they already have the money to run a campaign and the machinery to outmaneuver both parties, for it isn't going to come from within either current party.
Even if such a person did get elected, they would be neutralized or removed if they actually tried to stop the flow of money to the powerful. The people who benefit from the system do not want it fixed.
And Bill didn’t only diagnose the problem. He offered solutions back in December 2022 in the “Clowns” newsletter.
The trouble is that no politician who wants to stay in office is willing to do what needs doing. They would rather run the grift and fade into the sunset.
Lukas, your comment exposes a naked truth, one which no one wants to hear much less act upon: our system simply isn't built to deal with a situation such as ours where the consensus model upon which the system rests is no longer functioning. It is impossible for a consensus system to work when the electorate is split roughly 50-50. We hear this all the time on TV broadcasts of football games: "Well, the problem here is that so-and-so is behind three scores, and their team is simply not 'built' to come from behind." So, that team had better not get behind, or they can expect to lose. Guess what? We got behind. Best always. PM
Mr. Kandia, But Bill only blames the politicians, and not the folks who vote for lifetime employment and free stuff. It's like he's afraid to do so, which I will never understand. You did somewhat blame the folks by stating that U.S. politicians can only stay in office if they don't cut all this nonsense, which is true. You slash debt, you are going to slash jobs, and then you are history as a representative, senator, or POTUS because most of the American people are hooked on debt and free stuff.
And you stated that Bill offered solutions back in Dec. 2022, but if you add up the amounts, they aren't even pocket change. To balance the budget over a few years would cause an enormous depression because of skyrocketing unemployment. Look at all the so-called private sector contractors in the Defense Dept.; and, in the health care industry, which includes doctors, nurses, administrators, techs, therapists, etc. They number probably 15M-20M. They are largely dependent on about a trillion dollars a year in defense spending and over a trillion dollars a year in Medicare and Medicaid spending. This is where the enormous slashing would have to be, and all these millions of laid off workers would have to radically cut their spending, leading to even more job loss in the U.S. A disastrous domino effect. Thus the GOP would be finished, ushering in the hardcore leftists now running the Democratic Party.
This is what bothers me about Bill. He likes to write about slashing the budget, but he won't provide details about what should be cut and by how much; and, the time frame in which to do so. Anyone can criticize without providing specifics. This is easy. A junior high school student could do this.
You are 100% correct. Bill has learned how to write this crap so he can collect from all of us and live the life of an elite! He’s one of them! He knows this can’t be fixed , too. He’s just taking in his share of the haul like the contractors and politicians who are like you say, are preparing for the eventual crash they know is coming.
Right now, the Democrats are demanding 1.5 trillion dollars of more wasteful spending. They are hurting the people they claim to support. Bill runs down the Trump family instead of pointing this out to the country. He don’t talk about the actual stuff going on as he writes crap. Like most of the so called journalists they distract and sometimes outright lie instead of tell facts. I will say that Bill does give us good history lessons, without those I probably wouldn’t read most of this stuff.
Of course the other two guys who he’s teamed up with keep him honest. They don’t need him, he needs them.
You can’t blame voters when the system only offers two choices and both require millions in donor dollars just to stay on the ballot. Elections shouldn’t be contests of fundraising. They should be contests of ideas. Put every candidate — not just Republicans and Democrats — on a stage for a month at universities across the country, taking unscripted questions from students. Let the best person win. That is democracy. What you have now is marketing.
And the argument that politicians “can’t” make hard choices because it might cost reelection doesn’t apply to Trump. This is his last term. If he truly cared about debt, inflation, reckless spending, or America’s future, now is the moment to act. Nothing stops him except the donors, corporations, and industries that profit from keeping things the same.
People don’t rely on government programs because they love “free stuff.” They do it because wages stagnate, inflation eats savings, and the cost of living rises faster than paychecks. Nearly 40 million Americans use food assistance. That’s not laziness — it’s a warning sign of a broken economy.
The tax code is a maze of carve-outs written by lobbyists so corporations and the wealthy lower their effective rates while workers carry the burden. Fix it: a flat 10% tax for individuals and businesses, no loopholes, no offshore tricks. Everyone pays. Then require a balanced budget — no more printing money or borrowing to paper over bad choices.
Now fix finance. Dissolve the Fed’s money machine and require banks to hold real capital — at least 15% — so they absorb their own losses instead of shoving them onto taxpayers. And end rehypothecation: if a bank takes collateral, whether it’s a homeowner’s mortgage or another bank’s Treasury bills, that collateral cannot be pledged again and again to extract more leverage. When they gamble, they lose. No bailouts. No taxpayer rescue.
And stop legalized bribery. Ban paid lobbying, close the revolving door between government and the industries they’re supposed to regulate, and make bribing or buying influence a federal felony with real jail time and asset forfeiture. If someone tries to purchase a politician, prosecute them — not just fine them.
Then fix the penal system the way the countries with the lowest recidivism do it: prison isn’t a warehouse, it’s a factory for turning criminals into workers. Every inmate enrolls in education or trade training from day one — welding, electrical, plumbing, HVAC, heavy equipment, coding, nursing assistant, anything that leads to a real job. They work, they learn, and they earn certifications tied to release eligibility. Instead of pumping iron and joining gangs, they leave with a skill, a work record, and a paycheck saved for reentry. The countries that do this — Norway, Sweden, Germany — don’t do it out of kindness; they do it because it’s cheaper, safer, and it works. Give people the tools to rejoin society, and fewer come back through the gate. Refuse to participate? Then supervised, structured public-works labor becomes the default. Either you rebuild your life, or you build something useful for everyone else. That’s how you cut crime for real.
Then stop policing the world for free. Shut down the 800 overseas bases and bring American troops home. If a country wants U.S. protection, fine — negotiate a fee up front, publicly, so taxpayers know exactly what they are paying for. If the United States is going to act as global security provider, then treat it like a business transaction, not a charity funded by the American middle class.
Finally, require every federal department to be fiscally responsible. If a department cannot operate within its revenue — if it burns money faster than it earns it or provides no measurable benefit to citizens — shut it down and let free enterprise replace it. If it performs a genuine public duty, make it justify its budget with results, not slogans.
Right now, the future is being traded for bombs, bullets, tax games, lobbying profits, and financial smoke-and-mirrors. Until someone in Washington is willing to dismantle the machine — not just complain about it — nothing will change.
Seems logical. Every problem has a solution except when the solution is someone’s cash cow. Government, big government, is always a cash cow, a feeding frenzy of corruption.
There has to be an end game. What to do what to do! Get elemental as possible, land and self sufficiency. It is nice to eat. For the most part, people have been surviving for thousands of years, there is a template. Bill, with his endeavors, actually puts it into practice with bolt holes around the world. Got to appreciate that. Gulfin here he comes.
I think you are living in a dream world. Tens of millions of Americans don't love free stuff. Okay, if you say so.
So many of the ideas you have would require massively wiping out jobs. Yes, these ideas would--eventually---solve many of the U.S.'s problems, but the TRANSITION PERIOD would wipe out the party who tried to implement them. Then the opposition, aka the Democrats, would come in and reverse these measures before they even got started. Look at last night's VA election where even a man who dreamed about killing adults and children was elected as VA AG. Why? Well, look at the counties that made the difference---all heavily populated by federal govt. employees and contractors. These folks voted overwhelmingly for the three Democrats who criticized the DOGE cuts even though these three Democrats could do nothing about DOGE. Why? Because these folks expect to have lifetime employment, and DOGE threatens this, which frightened and enraged them, and they backlashed against the GOP. So anyone who had a "D" behind his or her name received their votes. This is a major reason why so many of your ideas, if enacted, would cause the GOP to be wiped out politically, bringing radical leftists to power, and thus exacerbating the problems the U.S. already has.
The only proposal I made that would directly impact jobs is shutting down the overseas bases — and even that isn’t necessarily job loss. If the world truly “needs” U.S. troops in Japan, South Korea, Germany, or anywhere else, then this is the perfect moment for the self-proclaimed “greatest dealmaker in history” to prove it. Negotiate a fee. If they want the protection, let them pay for it openly instead of expecting Americans to foot the bill forever. If they won’t, bring the troops home, retrain them, and put that skill and discipline to work rebuilding infrastructure, training apprentices, and making the country stronger here instead of overseas.
And if Congress or the courts decide that DOGE overreached, then that just means Trump has to find another constitutional path to cut waste. Presidents don’t get to say “the system won’t let me” — they find a legal tool and use it. The elephant in the room is simple: the United States cannot keep spending more than it takes in. That is not politics, it is math.
Other nations solved this. Canada put its equivalent of Social Security into an independent fund with real world management. It grew from $36B to over $700B. Singapore did the same with a sovereign wealth system. Scandinavian countries modeled prisons around rehabilitation, education, and reentry — and they cut crime and costs at the same time. There are working models all over the world. We don’t have to invent anything. We just have to care enough to copy what works.
So yes — change is hard, and any transition hurts. But the alternative is worse: borrowing until the dollar breaks, taxing workers to pay foreign governments’ defense bills, and pretending the system will miraculously fix itself. The country needs a leader who is willing to fix the machine, not just profit off it — and not just find a way to make his own family richer.
He has no solutions except in broad generalities. He's made it his mission to trash Trump and ignore anything that Trump is doing right - like deregulation, energy production, investment in America, etc.
Add these “right” features of Mr. Trump: tariffs that operate as hidden taxes on Americans, removing EPA oversight so industries can poison their own land and water, bombing “suspected drug runners” with no due process, claiming to have “fixed” wars while fueling new conflicts, stopping illegal immigration by tanking the economy and triggering the highest inflation in four decades, feeding at the trough of self-aggrandizement, and now cashing in billions through crypto deals.
I’m sure those are the accomplishments you voted for—rather than stopping the spending, cutting off lobbying, ending the grift, or doing the one thing that would actually change foreign policy: shutting down the 800 overseas military bases and forcing nations to police their own borders.
Well, Lucas, you make some points that are good, some are half-truths, and others are total exaggerations. If only things were so simple as shutting down all our overseas military bases. Unfortunately, life on this planet is a little more complicated than you indicate.
so i take that u are for open borders and letting the drug runners bring there poison here to kill thousands and thousands of americans who didn't get any due process they where just killed by the poison
yes extreme measures work just look at el salvador but things are different in the usa just look what they try to do to trump and ice when they try to get rid of the criminal illegal immigrants and even kennedy when he tries to make even some minor changes at hhs the swamp throws everything they can at them to stop them
Mr. Kandia, You didn't answer Crooked Finger's Q about whether or not you support open borders? Also, do you support a mass amnesty for millions of illegals, most of them third-world peasants who will vote for Democrats in overwhelming numbers because the Dems will promise them an infinite amount of govt. aid aka free stuff?
I don’t support open borders. For the US or any other country. But the “border crisis” has become political theater, not economic reality. The U.S. has depended on migrant labor for decades because most Americans will not work in agriculture at wages that keep food prices affordable. That’s why 50–70% of U.S. farmworkers are foreign-born, and a large share are undocumented. Without them, crops rot and prices spike. We are already seeing it.
Migrants were crossing long before Trump or Biden. They picked the crops, cleaned the hotels, built the houses, slaughtered the meat, and poured the concrete that keeps the economy running. They pay taxes — including billions into Social Security they will never receive — and they buy goods in the communities where they live and work.
Yet instead of questioning why we maintain 800 overseas military bases and spend hundreds of billions policing the world, we pretend field workers are the real threat. Removing them doesn’t fix the deficit, inflation, food prices, or anything else that’s actually broken.
So I’m still waiting for someone to explain how kicking out the people who pick your food will magically save the country.
Yes, Dean... it will be Bonner's fault. I thought you knew that. Didn't you know that Bongo Bill is controlling everything behind the scenes? Where have you been? Hiding under your pillow all this time?
I know John…it seems as every knowledgeable and intelligent dear reader leaves this sad site, a leftist moron takes their place. Hopefully it’s not a sign for America’s future, like the disastrous state of NY City🤔
It’s not the left or the right that’s the problem. It’s that both sides are racing each other to the basement. One blows the budget on social programs and entitlement spending, digging a deeper fiscal hole, while the other cozies up to corporations that gut environmental protections, dodge taxes, and profit from endless military spending.
Take your pick — either path ends in the same place: a crippling deficit, with our own elected representatives stripping the carcass before they fly away.
Sorry Lucas, but it’s been at least 90% the cause of the left, and that includes the globalist RINOs like the Bush family, and neocons like DICK Cheney. All globalists swamp creatures that have done their best to destroy America and our Republic. Again, I can’t stress enough how grateful I am that a Past Democrat like president Trump is in the White House now, and we don’t have to live through the horrifying rapid decline that the LEFT has caused, and enjoy the slower pace of the inevitable collapse 😊
Yes my friend, it’s officially a corrupt, third world shithole 💩 and the shitheads who voted in these anti-American scum, deserve Everything that’s coming to them 💩💩💩💩
It is probably a bit late in the day to study how the rich have been minting coin and follow them into immoral investments. If you had a bit of spare cash.
I never could take the informed advice to invest in the "defence" industry.
But did for a while invest in Big Pharma, before finding that too repugnant.
Now, I guess one must essentially sit on any hard and potentially useful assets one may be able to hold on to.
And prepare for and participate in a civil conflict that is the only hope of aborting the oligarchs' "Reset".
Success will depend upon mass mobilisation.
Praise the Lord, pass the ammunition, and cross the fingers!
Well Flier, maybe you need to figure it out for yourself. It would appear you are unable to process what Mr Bill has been saying all these years you have been reading him. Better yet head off to NYC and you can see for yourself how most of the unwashed masses are figuring it out. Here’s hoping the Commie Mandami wins. Then we can add NYC to the long list of failed crap ideas. Along with Chicago, San Francisco, Illinois, California and NY state. Notice a pattern here Flier. Of course as Bill so smartly loves telling us who are listening, Government, what is it good for? Absolutely noth’in!!
Re Dan's comment it appears the govt has been working toward a "cashless" society for some time. Beginning with the state and local "SNAP" etc. benefit cards. LA provided them back in 2005 after Katrina so the move to checkless is just another step down that pathway. Sure, it is much less expensive than a physical check, and supposedly "safer." Except for the established fraud that has occurred thus far. At least for now our congressional leaders have codified in law that there will be no CBDC. When that gets overturned, that's when the real fun will begin. The train to "1984" is picking up speed ! ! !
Take away the checks and the coins that no longer contain precious metal. Set up the Stablecoins and reduce fiat currency purchasing power to zero through printing. Provide a pathway for the unbanked to enter the system with Federal debit cards. Now just introduce crisis. I would say three of the fence walls are up and holding as the people continue to blindly trust the government. We just wait a bit longer and the final fenced gate is closed with most folks inside the trap. It’s an individual choice to move outside of the system and frankly I am uncertain that most people even recognize the fence.
The thesis, the level of corruption and corruptibility in Man is constant, is interesting, and likely true. What DOES change, over time, is the acceptance of corruption within a society/state, and the result is that those who can be persuaded to be corrupt for the purpose of gaining advantage, will succumb, and corruption increases and its attendant circumstance, social decline, increases as well. It's a distinction that must be drawn. The net effect is that there is more corruption and bad effects, and it doesn't really matter what the actual inherent level of corruption and corruptibility in Man actually is. Best always. PM
The changes that define us….not difficult for anyone to see( but not those without historical perspective) , often accepted as liberalism/progressivism. Words redefined slowly before our eyes. The changes permeate our life over time. …slowly but surely the intolerance, becoming tolerance then acceptance. Morality, The 10 Commandments, our values all being challenged. But diminished. Here’s a quick summary of the obvious from AI..ChatGPT:
⸻
⚖️ Social & Moral Norms
1. Divorce
• One generation tolerated it as shameful but sometimes necessary;
• The next generation embraced it as a normal personal choice.
• Example: In the 1950s, divorce was rare and stigmatized in most Western societies. By the 1980s–2000s, it became commonplace and largely accepted.
2. Premarital Cohabitation
• In the 1960s, living together before marriage was frowned upon but tolerated among “rebellious youth.”
• By the 1990s–2000s, it became the norm before marriage in many countries.
3. Same-Sex Relationships
• In the mid-20th century, they were criminalized or socially condemned, though quietly tolerated by some.
• By the 2010s, many nations embraced same-sex marriage as a right and celebrated LGBTQ+ identities.
⸻
🖼️ Culture, Media & Entertainment
4. Language and Media Decency
• 1950s: Mild profanity or sexual innuendo was controversial.
• 2000s–2020s: Explicit language and sexuality are mainstream in movies, music, and social media.
5. Violence in Entertainment
• 1970s: Graphic violence in film was shocking but allowed for “artistic freedom.”
• 2000s–2020s: Audiences expect realism, and even video games feature extreme violence as standard.
⸻
💰 Business & Technology
6. Consumer Debt
• 1950s: Families avoided credit and debt was shameful.
• 2000s: Credit cards, loans, and even “buy now, pay later” are standard and often encouraged.
7. Privacy & Surveillance
• Early 2000s: People worried about online privacy, reluctantly shared info on MySpace or Facebook.
• 2020s: Many willingly share personal data with apps, devices, and social platforms — embracing convenience over privacy.
⸻
🏛️ Government & Politics
8. Government Surveillance
• Post–9/11: Citizens tolerated surveillance as a necessary evil for security.
• 2020s: Many accept constant data monitoring (CCTV, digital tracking, facial recognition) as normal life.
9. Drug Policy
• 1980s: Marijuana use was condemned and criminalized but tolerated in underground culture.
• 2020s: Legal and socially accepted in much of North America and parts of Europe.
⸻
🌍 Lifestyle & Values
10. Materialism and Consumerism
• 1950s: Modesty and thrift were virtues; consumerism was tolerated as prosperity.
• 2000s–2020s: Constant upgrading, luxury branding, and social media “flexing” are embraced as lifestyle goals.
Morality and Social Norms:
Era
What Was Once Tolerated
What the Next Generation Embraced
1950s–1970s
Divorce seen as tragic but allowable in dire cases
Became a normal, acceptable choice — no stigma
1960s–1980s
Sex before marriage tolerated quietly among youth
Became a standard part of dating culture
1970s–1990s
Pornography and explicit media tolerated but restricted
Became mainstream and accessible everywhere
1980s–2000s
Homosexuality tolerated by some, condemned by most
Same-sex marriage legalized and celebrated
2000s–2020s
Gender fluidity and pronoun changes tolerated in fringe spaces
Increasingly embraced in schools, workplaces, and pop culture
Politics and Governance:
Era
Tolerated
Later Embraced
1940s–1960s
Government propaganda tolerated during wartime
Mass media spin and political marketing became standard
1970s–1990s
Lobbying and corporate influence tolerated as “part of democracy”
Now fully embedded in political systems as normal
2000s–2010s
Mass surveillance tolerated for national security
Routine data collection and tracking accepted by public
2000s–2020s
Executive power expansion tolerated post-crisis
Embraced as leadership strength or “decisive governance”
2010s–2020s
Polarization and populism tolerated as political flavor
Became defining features of many democracies
Technology and Culture:
Era
Tolerated
Later Embraced
1990s–2000s
Online sharing tolerated cautiously (“Don’t post personal info”)
Oversharing became the norm on social media
2000s–2010s
Data tracking & targeted ads tolerated for convenience
People embraced algorithm-driven feeds as essential
2010s–2020s
AI monitoring, smart devices listening tolerated as “trade-off”
Now embraced as helpful assistants (Alexa, Siri, etc.)
2010s–2020s
Virtual relationships & digital personas tolerated among gamers
Embraced as normal social life (VR, avatars, influencers)
2020s–future
Deepfakes & AI-generated media tolerated for art
Likely to be embraced as standard content creation tools
Family and Cultural Values:
Era
Tolerated
Later Embraced
1950s–1970s
Working mothers tolerated during necessity (e.g., war)
Became a fully accepted and encouraged norm
1960s–1980s
Single parenthood tolerated with sympathy
Embraced as independent and self-sufficient living
1980s–2000s
Dual-income households, delayed marriage tolerated as practical
Became the dominant model
2000s–2020s
Childfree lifestyles tolerated quietly
Now openly embraced as legitimate life choice
2010s–2020s
Nontraditional family structures (co-parenting, same-sex parents) tolerated in some circles
Widely accepted and protected legally
Economics and Everyday Behavior:
Era
Tolerated
Later Embraced
1950s–1970s
Credit and borrowing tolerated for homes or emergencies
Consumer debt became a way of life
1980s–2000s
Materialism & status spending tolerated as ambition
Became an identity through social media “flex culture”
2000s–2020s
Gig work & job instability tolerated as temporary
Embraced as freedom and flexibility
2010s–2020s
Subscription models (renting digital life) tolerated for convenience
Now embraced as the default consumption pattern
Every generation redraws the boundary between “acceptable” and “ideal.”
What was scandalous becomes normal. What was normal becomes old-fashioned.
The tolerance line keeps shifting — always forward, rarely back…….Behooves value judgements.…of good/bad/evil…yet our ability to see anything but good is denounced by the “forest voices hiding the trees”…..reminds of legacy media hard at work to guard us from anything other than a forward marching liberal/progressive menu….
The MAGA agenda has some elements going in the “rarely back direction”…and seldom, if ever, mentioned by BP…. bias commentary…border/nation sovereignty.…election integrity….citizenship…gender definition…vulgarities of those in liberal media…..
Exactly and Thank you Tom🙏. ”Drug Policy • 1980s: Marijuana use was condemned and criminalized but tolerated in underground culture.” Yes Tom, unfortunately that same “underground” culture has been granted immense power starting with the Clinton administration and quadrupling with Obama. We are literally in a WAR for our country and freedom. If we let the leftist take control, as we allowed in the past, not only America, but all Western civilization will end. This is why the leftist motto-Tolerance-Diversity-Equity are nothing but a sweet bunch of words to simplify a very complicated and evil agenda. It’s now called the Democratic Party.
Yes Phil, that is what happens when you allow tens of millions of third world illegals into your country. Another big shout out to the Puppet of Obama, Joe Biden…
"Prepare for Rip-Off" Bonner entitles his column. Yet, I'm being ripped off every single day by reading his column. I can't stop reading because I'm curious how far Bongo Bill will go to ignore all the negative and destructive things the Democrats are doing (and yes, the fact that they've been using bad language for a lot longer) and also ignore all the accomplishments of the Trump administration, only to focus on what Bongo considers to be the bad. I don't deny that there is room for criticism concerning some of the things the Trump administration is doing or not doing, but the issue, if one wants to be fair and balanced, is to write about both. Not from Bongo. If Bongo were honest, his byline would be:
"The TDS Times" by Bill Bonner.
Everything negative compiled from the left-wing news media that is real or imagined about the Trump administration.
Thank you Dan as always. The one takeaway here is that America is in severe debt and it’s going to get worse before the collapsing financial crisis takes hold. Everyday I thank God that we now have an America First Business Man in office, working harder than any other past president in our history to try and fix this insane mess that both Republicans and Democrats created. Thank God those two demented freaks that the democrats tried to destroy America with were not elected. Yes Dan, the world is changing very fast, but America has a much better chance for future success with a business man who is a pro at saving his assets from bankruptcy. Thank God President Trump considers America the worlds most precious asset 🇺🇸🇺🇸🇺🇸
At the end of the day, the dollar and the whole global financial system is built on trust and confidence. Regardless of who is in the White House it seems that the actions are undermining faith in the currency and the system.
It's not a matter of whether it's Joe or Barrack or Donald who is running things. It is the deliberate policies of the people who actually run things. Debasement of the currency is a policy, not an accident. The fact that your dollar buys you less when you purchase groceries or anything else is a policy set by the people who really run things. And no, I do not know who they are.
There is a stated policy to erode your purchasing power by a target figure of 2% per anum. According to John Williams at Shadow Stats, who calculates inflation using methodology used before governments started making hedonic adjustments, the real rate of inflation (debasement of your currency) is currently over 8%
Flier, you raise the point that I have raised a few times. I enjoy reading the comments made by other readers of Bill’s BS. Some I agree with and some I disagree with, but all of which I enjoy simply because they are well “spoken” and second because they display many perspectives that I had not considered. However, many ignore the fact that Bonner et al is a financial newsletter which is supposed to provide [drum roll] financial advice. Dan and Tom are excellent and they are the reason why I paid to join Bonner et al in the first place. I was ignorant of Bill bias toward DJT because he didn’t sound off on him as much when Sleepy Joe was captain of the ship. Fact was Bill didn’t sound off on Sleepy much at all compared to DJT. I guess the “price” we pay to get Dan and Tom’s sage advice is putting up with Bill’s BS. If Dan and Tom just ship, I’ll be the first one over the railing.
"The overall rate is said to be around 17%." Who said? Sure would be good to see your sources, you sound like Nora O'Donnell..... "It has been said...", such bs. Back it up MR. B
A reasonable question. The ~17% average tariff estimate comes from multiple sources depending on whether you look at nominal rates, sector-weighted averages, or effective tariff incidence on consumer goods.
A few of the commonly cited ones:
• Peterson Institute for International Economics (PIIE):
Their 2024 analysis estimates the effective tariff rate on total US imports at roughly 16–18 percent when accounting for cumulative Trump + Biden tariffs still in place.
• Tax Foundation (2024 update):
Their modeling shows that the average applied tariff rate rose from ~1.5% pre-2018 to the low-to-high teens on affected imports. Consumer-facing categories (appliances, electronics, furniture, clothing) run even higher.
• US International Trade Commission & Congressional Budget Office:
Both have reported that downstream pass-through to consumer prices results in tariff-equivalent burdens in the mid-teens once supply chain markups and freight are added.
So no, it isn’t “something someone said on TV.”
Bill’s number is within the range of published economic research from multiple non-partisan institutions.
If there is a different estimate you believe is more accurate, feel free to post it — but calling the number “BS” isn’t a counter-argument. Data is easy to verify.
Ok now do how much the hidden tax is that foreignt countries are charging U.S. exporters via their tariff's. How much are those hurting U.S. wage earners by loss of jobs and income. I'll wait...
Foreign tariffs on U.S. exports absolutely exist, but they didn’t just appear out of nowhere. They were retaliation for U.S. tariffs. Every time the U.S. has tried to “protect” domestic producers with broad tariffs, trading partners hit back by taxing American exports. It happened under Reagan, Bush (2002), Obama (2009), and again under Trump — just on a much larger scale.
The economic studies are remarkably consistent: whatever jobs the U.S. temporarily protects in one industry get wiped out by export losses and higher production costs in others. American farmers, manufacturers, and workers end up paying for the trade war twice — once as consumers (higher prices), and again as exporters (lost markets and lost jobs).
So yes, foreign tariffs hurt U.S. workers. The catch is: they were a direct reaction to our tariffs. When we tax their imports, they tax our exports. History shows we always lose more jobs than we save.
Have to disagree with your position, does sound like something Hakeem Jeffries would try to sell,
Here's a breakdown of why this is the case and where the concept of reciprocity comes into play:
1. The Global Baseline: Most-Favored-Nation (MFN) Tariffs
Most tariffs that foreign countries apply to U.S. goods are their standard, or Most-Favored-Nation (MFN) tariffs.
MFN Principle: Under the rules of the World Trade Organization (WTO), if a country grants a special low tariff rate to one trading partner, it must grant that same low rate to all other WTO members, including the U.S. (with exceptions for Free Trade Agreements).
Purpose: These tariffs are set by each country for a variety of domestic reasons (e.g., to protect a domestic industry like agriculture, or simply to raise government revenue) and are entirely independent of U.S. tariff policy.
Conclusion: These standard tariffs existed long before any recent major U.S. tariff actions and would remain even if the U.S. had zero tariffs.
2. Retaliatory Tariffs (The Exception)
The tariffs that are specifically reciprocal (or retaliatory) are typically the ones you hear about in trade disputes.
Mechanism: When the U.S. imposes a new tariff on a specific country or product (e.g., U.S. steel tariffs), that country will often invoke WTO rules to argue the U.S. action is unfair. They will then impose new, targeted tariffs on U.S. goods (like U.S. whiskey, motorcycles, or agricultural products) of a comparable value.
Nature: These are retaliatory tariffs. They are expressly designed to pressure the U.S. into removing its initial tariff and would likely be removed if the U.S. ended its measure. They are temporary measures to address a trade conflict.
3. The Concept of Reciprocity in Trade Negotiations
The term "reciprocity" is still a fundamental principle, but it is applied in a broader sense during trade negotiations:
Trade Deals: When countries negotiate a Free Trade Agreement (FTA) or a global WTO-level tariff reduction, the goal is often reciprocal concession. For example, the U.S. agrees to eliminate tariffs on European cars if the EU agrees to eliminate tariffs on U.S. agricultural products. The outcome is a mutually agreed-upon reduction from a pre-existing tariff.
Not Tit-for-Tat: Reciprocity in this sense does not mean "our tariff is 10% because yours is 10%." It means the overall value of the concessions is viewed as roughly equal.
Final Takeaway: The vast majority of foreign tariffs on U.S. goods are routine and would exist regardless of U.S. action. Only the specific retaliatory tariffs are directly contingent on a preceding U.S. tariff.
What you’re describing with MFN tariffs is correct in theory, but it has almost nothing to do with what actually happened between 2018 and 2020.
Trump did not launch a carefully negotiated reciprocity strategy or a textbook tariff equalization. There was no structured economic analysis, no long-term cost model, and no WTO-based bargaining. It was exactly the opposite. Trump imposed broad, sweeping tariffs unilaterally and without a coherent plan, openly saying that “trade wars are good, and easy to win.”
Because of that, the U.S. didn’t trigger the normal MFN baseline you’re talking about — it triggered retaliation.
How do we know? Because:
• China immediately targeted U.S. agriculture
• The EU hit U.S. bourbon, Harley-Davidson, oranges, and textiles
• Canada and Mexico hit U.S. steel, pork, and dairy
• The WTO ruled several of Trump’s tariffs illegal
• The U.S. manufacturing sector shrank for the first time since the 2016 recession
• Farmers required tens of billions in bailout payments because export markets evaporated
If this were simply “existing MFN tariffs,” none of that happens.
MFN tariffs were already there — and the world kept trading anyway. What caused the job losses and the export collapse were the new, sloppy, politically-driven tariffs that never went through economic review and had no strategic objective beyond “we buy more than we sell.”
That isn’t reciprocity.
That isn’t industrial policy.
That’s just economic vandalism disguised as patriotism.
The irony?
Americans ended up paying the tariffs themselves through higher prices, manufacturers paid more for inputs, farm exports collapsed, and the U.S. had to borrow billions to keep farmers from going bankrupt.
So yes — other countries had baseline tariffs long before Trump.
And precisely because the U.S. decided to ignore the system and go full sledgehammer, those same countries used WTO rules to hit back directly at American workers.
That’s not “standing up for America.”
It’s America punching itself in the face, then congratulating itself for bleeding.
The point was, THE US didn’t start this, foreign countries HAD tariffs in place. You're earlier comment put the blame completely on the US which is in effect wrong. As for prices, i don’t really see consumers paying the price, most goods have gone up marginally, some have actually come down, and some haven’t moved at all. Consequently, I remain in disagreement with your position.
Lucas thanks for defending Bill, not the point. I agree numbers are not necessarily off, the statement is. Bill, as the eloquent orator / writer he is definitely knows better than to publish off the cuff comments like "Some would say" when quoting facts that are designed to explain the position.
I generally enjoy most of his prose, however, with his severe case of TDS, he has tended to fall of the money beat, so when he jumps back on the message is diluted. Further, it losses its impact with such statements.
Nothing more, I truly enjoy Bill's view when he is on the beat, but again, of late he has reduced impact - come on back Billy! You are really good at this stuff -
PS: Are you a relative of Bill? was wondering with the defense. :-)
I'm not a close relative to Bill — though since we all share DNA somewhere back in history, so it’s fair to say I’m a very distant cousin. Likely, yours as well! Thanks for asking, cuz!
As for “TDS,” it’s less a syndrome and more the predictable reaction you get when the most important office in the United States is treated like a private circus. The larger the abuse of power, the stronger the response from anyone paying attention. Bill isn’t hysterical — he’s calling out behavior that, in any other era, would have ended a presidency in five minutes.
Whether or not someone respects the office, they should at least respect the people they claim to represent. He doesn’t. That’s the point.
And since we’re asking about close relatives: are you by any chance related to Mr. Trump? ;)
LMAO…yes, I’m a long lost son. HE denies it hence i get nada from the estate. Thats fine, I sux at golf. You may see it as a circus, i see it as long over do “righting the ship”. The lunes on the left have done so much damage between open borders, Ukraine (and other) corruption, Weaponizing DOJ, locking up two Trump allies for doing exactly what that scumbag Holder did, I can go on. IT would take the steps that are now manifesting to get the country back on track.
IMHO we need return to the days of Reagan/O’Niel whom were diabolically opposed to each other’s politics. One the President, the other Speaker of the house, however, every evening at 630, Tip O’Niel would go down to the Oval Office for a drink, a shot of Irish whiskey with his good friend Ronald Raegan. That my friend is how it is suppose to work, disagree, fairly fight, put it to the voters and let the cards fall where they may.
Verses high-jacking the country because the voters threw out the extreme positions of the left, so instead they take their ball and go home? Children, nothing more. Throw em out
Bill is writing sensibly and knowledgeably about what is going on, with I assume, the intention of getting people to face that the mass of citizens who vote the elite into positions where they can plunder these same citizens, are the ones who will have to change their expectation of getting ever more free stuff. The voters need to change their own conduct and expectations, if there is ever to be a change in direction, and it would be pointless for Bill to start dictating what should or should not be done if his audience wouldn't listen anyway - and there is no sign I can see that they would listen and change their behaviour. As it is right now, the vast majority are more interested in what they can get without having to produce much that is useful, and they vote in ways that further that interest.
What is happening in Argentina seems to be good evidence that Bill is on the right path. Through decades of being told what was required, there was no change in Argentina's path until the electorate got so thoroughly fed up that they changed what they wanted. Once they decided that freedom to live their lives without government dictating every facet of their existence in exchange for freebies was important, they finally voted the deadwood elite out and now things have improved radically.
To my mind, the best thing Bill can do is to keep preaching the same message until all voters recognize that they themselves are the problem, and take the same action the Argentinians did - kick the parasitic elite bums out of power.
Instead of complaining about Bill repeating the message, maybe you should all ask yourselves whether you are a part of the problem,by expecting and accepting freebies, rather than taking responsibility for everything that goes on in your life. You all need to recognize that there is nothing free in your life - for everything a price must be paid and the price everyone is paying right now is the situation that exists right now and that this price will continue to rise until you vote differently.
"switch to an electronic direct debit of your bank account"? Did you mean "deposit"? Or do you know something I don't know? Or maybe the AI you are using knows something we don't know :-)
Almost 2000 years ago, something very similar happened in Rome. As the empire weakened, the elite saw the end coming. They began openly “extracting” wealth from the system. They avoided taxes, sold influence, took bribes, and debased the currency until silver coins were basically copper with a silver wash — from 98% silver to around 5% near the end.
Inflation exploded. Ordinary Romans were paid in money that was worth less every month. The rich insulated themselves by buying hard assets: land, slaves, private armies, and fortified estates. They weren’t trying to save Rome. They were preparing for what came after.
When the empire finally collapsed, those elites simply became feudal lords. The state died. Their wealth didn’t.
Sound familiar?
You overlook the fact that not only did they counterfeit the money, they counterfeited Roman citizenship for the sake of labor and taxes. Does THAT sound familiar? Best always. PM
It does. Neither side is doing this right. But that's why the constitution was written the way it was - when it isn't going "right" the people have the right to make it so.
Well, Bill, I have been reading you for several year now. And like so many others, I grow weary of the doom-saying. By now those of us who can learn (or be convinced) either agree with you or stop reading after the first sentence or two. Far be it from me to tell you how to run your newsletter, but perhaps it's time to try a new tack: don't tell us what's wrong -- tell us how to make it right. Then when we go to the polls we can vote for the person who promises to do what you think should be done.
The only way a serious reformer ever makes the ballot is if they already have the money to run a campaign and the machinery to outmaneuver both parties, for it isn't going to come from within either current party.
Even if such a person did get elected, they would be neutralized or removed if they actually tried to stop the flow of money to the powerful. The people who benefit from the system do not want it fixed.
And Bill didn’t only diagnose the problem. He offered solutions back in December 2022 in the “Clowns” newsletter.
https://www.bonnerprivateresearch.com/p/clowns-and-jokers
The trouble is that no politician who wants to stay in office is willing to do what needs doing. They would rather run the grift and fade into the sunset.
Lukas, your comment exposes a naked truth, one which no one wants to hear much less act upon: our system simply isn't built to deal with a situation such as ours where the consensus model upon which the system rests is no longer functioning. It is impossible for a consensus system to work when the electorate is split roughly 50-50. We hear this all the time on TV broadcasts of football games: "Well, the problem here is that so-and-so is behind three scores, and their team is simply not 'built' to come from behind." So, that team had better not get behind, or they can expect to lose. Guess what? We got behind. Best always. PM
Mr. Kandia, But Bill only blames the politicians, and not the folks who vote for lifetime employment and free stuff. It's like he's afraid to do so, which I will never understand. You did somewhat blame the folks by stating that U.S. politicians can only stay in office if they don't cut all this nonsense, which is true. You slash debt, you are going to slash jobs, and then you are history as a representative, senator, or POTUS because most of the American people are hooked on debt and free stuff.
And you stated that Bill offered solutions back in Dec. 2022, but if you add up the amounts, they aren't even pocket change. To balance the budget over a few years would cause an enormous depression because of skyrocketing unemployment. Look at all the so-called private sector contractors in the Defense Dept.; and, in the health care industry, which includes doctors, nurses, administrators, techs, therapists, etc. They number probably 15M-20M. They are largely dependent on about a trillion dollars a year in defense spending and over a trillion dollars a year in Medicare and Medicaid spending. This is where the enormous slashing would have to be, and all these millions of laid off workers would have to radically cut their spending, leading to even more job loss in the U.S. A disastrous domino effect. Thus the GOP would be finished, ushering in the hardcore leftists now running the Democratic Party.
This is what bothers me about Bill. He likes to write about slashing the budget, but he won't provide details about what should be cut and by how much; and, the time frame in which to do so. Anyone can criticize without providing specifics. This is easy. A junior high school student could do this.
You are 100% correct. Bill has learned how to write this crap so he can collect from all of us and live the life of an elite! He’s one of them! He knows this can’t be fixed , too. He’s just taking in his share of the haul like the contractors and politicians who are like you say, are preparing for the eventual crash they know is coming.
Right now, the Democrats are demanding 1.5 trillion dollars of more wasteful spending. They are hurting the people they claim to support. Bill runs down the Trump family instead of pointing this out to the country. He don’t talk about the actual stuff going on as he writes crap. Like most of the so called journalists they distract and sometimes outright lie instead of tell facts. I will say that Bill does give us good history lessons, without those I probably wouldn’t read most of this stuff.
Of course the other two guys who he’s teamed up with keep him honest. They don’t need him, he needs them.
H. Bell
You can’t blame voters when the system only offers two choices and both require millions in donor dollars just to stay on the ballot. Elections shouldn’t be contests of fundraising. They should be contests of ideas. Put every candidate — not just Republicans and Democrats — on a stage for a month at universities across the country, taking unscripted questions from students. Let the best person win. That is democracy. What you have now is marketing.
And the argument that politicians “can’t” make hard choices because it might cost reelection doesn’t apply to Trump. This is his last term. If he truly cared about debt, inflation, reckless spending, or America’s future, now is the moment to act. Nothing stops him except the donors, corporations, and industries that profit from keeping things the same.
People don’t rely on government programs because they love “free stuff.” They do it because wages stagnate, inflation eats savings, and the cost of living rises faster than paychecks. Nearly 40 million Americans use food assistance. That’s not laziness — it’s a warning sign of a broken economy.
The tax code is a maze of carve-outs written by lobbyists so corporations and the wealthy lower their effective rates while workers carry the burden. Fix it: a flat 10% tax for individuals and businesses, no loopholes, no offshore tricks. Everyone pays. Then require a balanced budget — no more printing money or borrowing to paper over bad choices.
Now fix finance. Dissolve the Fed’s money machine and require banks to hold real capital — at least 15% — so they absorb their own losses instead of shoving them onto taxpayers. And end rehypothecation: if a bank takes collateral, whether it’s a homeowner’s mortgage or another bank’s Treasury bills, that collateral cannot be pledged again and again to extract more leverage. When they gamble, they lose. No bailouts. No taxpayer rescue.
And stop legalized bribery. Ban paid lobbying, close the revolving door between government and the industries they’re supposed to regulate, and make bribing or buying influence a federal felony with real jail time and asset forfeiture. If someone tries to purchase a politician, prosecute them — not just fine them.
Then fix the penal system the way the countries with the lowest recidivism do it: prison isn’t a warehouse, it’s a factory for turning criminals into workers. Every inmate enrolls in education or trade training from day one — welding, electrical, plumbing, HVAC, heavy equipment, coding, nursing assistant, anything that leads to a real job. They work, they learn, and they earn certifications tied to release eligibility. Instead of pumping iron and joining gangs, they leave with a skill, a work record, and a paycheck saved for reentry. The countries that do this — Norway, Sweden, Germany — don’t do it out of kindness; they do it because it’s cheaper, safer, and it works. Give people the tools to rejoin society, and fewer come back through the gate. Refuse to participate? Then supervised, structured public-works labor becomes the default. Either you rebuild your life, or you build something useful for everyone else. That’s how you cut crime for real.
Then stop policing the world for free. Shut down the 800 overseas bases and bring American troops home. If a country wants U.S. protection, fine — negotiate a fee up front, publicly, so taxpayers know exactly what they are paying for. If the United States is going to act as global security provider, then treat it like a business transaction, not a charity funded by the American middle class.
Finally, require every federal department to be fiscally responsible. If a department cannot operate within its revenue — if it burns money faster than it earns it or provides no measurable benefit to citizens — shut it down and let free enterprise replace it. If it performs a genuine public duty, make it justify its budget with results, not slogans.
Right now, the future is being traded for bombs, bullets, tax games, lobbying profits, and financial smoke-and-mirrors. Until someone in Washington is willing to dismantle the machine — not just complain about it — nothing will change.
Seems logical. Every problem has a solution except when the solution is someone’s cash cow. Government, big government, is always a cash cow, a feeding frenzy of corruption.
There has to be an end game. What to do what to do! Get elemental as possible, land and self sufficiency. It is nice to eat. For the most part, people have been surviving for thousands of years, there is a template. Bill, with his endeavors, actually puts it into practice with bolt holes around the world. Got to appreciate that. Gulfin here he comes.
Mr. Kandia,
I think you are living in a dream world. Tens of millions of Americans don't love free stuff. Okay, if you say so.
So many of the ideas you have would require massively wiping out jobs. Yes, these ideas would--eventually---solve many of the U.S.'s problems, but the TRANSITION PERIOD would wipe out the party who tried to implement them. Then the opposition, aka the Democrats, would come in and reverse these measures before they even got started. Look at last night's VA election where even a man who dreamed about killing adults and children was elected as VA AG. Why? Well, look at the counties that made the difference---all heavily populated by federal govt. employees and contractors. These folks voted overwhelmingly for the three Democrats who criticized the DOGE cuts even though these three Democrats could do nothing about DOGE. Why? Because these folks expect to have lifetime employment, and DOGE threatens this, which frightened and enraged them, and they backlashed against the GOP. So anyone who had a "D" behind his or her name received their votes. This is a major reason why so many of your ideas, if enacted, would cause the GOP to be wiped out politically, bringing radical leftists to power, and thus exacerbating the problems the U.S. already has.
The only proposal I made that would directly impact jobs is shutting down the overseas bases — and even that isn’t necessarily job loss. If the world truly “needs” U.S. troops in Japan, South Korea, Germany, or anywhere else, then this is the perfect moment for the self-proclaimed “greatest dealmaker in history” to prove it. Negotiate a fee. If they want the protection, let them pay for it openly instead of expecting Americans to foot the bill forever. If they won’t, bring the troops home, retrain them, and put that skill and discipline to work rebuilding infrastructure, training apprentices, and making the country stronger here instead of overseas.
And if Congress or the courts decide that DOGE overreached, then that just means Trump has to find another constitutional path to cut waste. Presidents don’t get to say “the system won’t let me” — they find a legal tool and use it. The elephant in the room is simple: the United States cannot keep spending more than it takes in. That is not politics, it is math.
Other nations solved this. Canada put its equivalent of Social Security into an independent fund with real world management. It grew from $36B to over $700B. Singapore did the same with a sovereign wealth system. Scandinavian countries modeled prisons around rehabilitation, education, and reentry — and they cut crime and costs at the same time. There are working models all over the world. We don’t have to invent anything. We just have to care enough to copy what works.
So yes — change is hard, and any transition hurts. But the alternative is worse: borrowing until the dollar breaks, taxing workers to pay foreign governments’ defense bills, and pretending the system will miraculously fix itself. The country needs a leader who is willing to fix the machine, not just profit off it — and not just find a way to make his own family richer.
He has no solutions except in broad generalities. He's made it his mission to trash Trump and ignore anything that Trump is doing right - like deregulation, energy production, investment in America, etc.
Add these “right” features of Mr. Trump: tariffs that operate as hidden taxes on Americans, removing EPA oversight so industries can poison their own land and water, bombing “suspected drug runners” with no due process, claiming to have “fixed” wars while fueling new conflicts, stopping illegal immigration by tanking the economy and triggering the highest inflation in four decades, feeding at the trough of self-aggrandizement, and now cashing in billions through crypto deals.
I’m sure those are the accomplishments you voted for—rather than stopping the spending, cutting off lobbying, ending the grift, or doing the one thing that would actually change foreign policy: shutting down the 800 overseas military bases and forcing nations to police their own borders.
Well, Lucas, you make some points that are good, some are half-truths, and others are total exaggerations. If only things were so simple as shutting down all our overseas military bases. Unfortunately, life on this planet is a little more complicated than you indicate.
Thank you, Lucas, for visiting us from an alternate reality.
I believe he’s from MSNBCville🤔
so i take that u are for open borders and letting the drug runners bring there poison here to kill thousands and thousands of americans who didn't get any due process they where just killed by the poison
yes extreme measures work just look at el salvador but things are different in the usa just look what they try to do to trump and ice when they try to get rid of the criminal illegal immigrants and even kennedy when he tries to make even some minor changes at hhs the swamp throws everything they can at them to stop them
Mr. Kandia, You didn't answer Crooked Finger's Q about whether or not you support open borders? Also, do you support a mass amnesty for millions of illegals, most of them third-world peasants who will vote for Democrats in overwhelming numbers because the Dems will promise them an infinite amount of govt. aid aka free stuff?
I don’t support open borders. For the US or any other country. But the “border crisis” has become political theater, not economic reality. The U.S. has depended on migrant labor for decades because most Americans will not work in agriculture at wages that keep food prices affordable. That’s why 50–70% of U.S. farmworkers are foreign-born, and a large share are undocumented. Without them, crops rot and prices spike. We are already seeing it.
Migrants were crossing long before Trump or Biden. They picked the crops, cleaned the hotels, built the houses, slaughtered the meat, and poured the concrete that keeps the economy running. They pay taxes — including billions into Social Security they will never receive — and they buy goods in the communities where they live and work.
Yet instead of questioning why we maintain 800 overseas military bases and spend hundreds of billions policing the world, we pretend field workers are the real threat. Removing them doesn’t fix the deficit, inflation, food prices, or anything else that’s actually broken.
So I’m still waiting for someone to explain how kicking out the people who pick your food will magically save the country.
When the economy crashes is it going to be Bonners fault?
Yes, Dean... it will be Bonner's fault. I thought you knew that. Didn't you know that Bongo Bill is controlling everything behind the scenes? Where have you been? Hiding under your pillow all this time?
I know John…it seems as every knowledgeable and intelligent dear reader leaves this sad site, a leftist moron takes their place. Hopefully it’s not a sign for America’s future, like the disastrous state of NY City🤔
It’s not the left or the right that’s the problem. It’s that both sides are racing each other to the basement. One blows the budget on social programs and entitlement spending, digging a deeper fiscal hole, while the other cozies up to corporations that gut environmental protections, dodge taxes, and profit from endless military spending.
Take your pick — either path ends in the same place: a crippling deficit, with our own elected representatives stripping the carcass before they fly away.
Sorry Lucas, but it’s been at least 90% the cause of the left, and that includes the globalist RINOs like the Bush family, and neocons like DICK Cheney. All globalists swamp creatures that have done their best to destroy America and our Republic. Again, I can’t stress enough how grateful I am that a Past Democrat like president Trump is in the White House now, and we don’t have to live through the horrifying rapid decline that the LEFT has caused, and enjoy the slower pace of the inevitable collapse 😊
i think the only thing left in nyc is commies, morons, or gangsters
Yes my friend, it’s officially a corrupt, third world shithole 💩 and the shitheads who voted in these anti-American scum, deserve Everything that’s coming to them 💩💩💩💩
It is probably a bit late in the day to study how the rich have been minting coin and follow them into immoral investments. If you had a bit of spare cash.
I never could take the informed advice to invest in the "defence" industry.
But did for a while invest in Big Pharma, before finding that too repugnant.
Now, I guess one must essentially sit on any hard and potentially useful assets one may be able to hold on to.
And prepare for and participate in a civil conflict that is the only hope of aborting the oligarchs' "Reset".
Success will depend upon mass mobilisation.
Praise the Lord, pass the ammunition, and cross the fingers!
Well Flier, maybe you need to figure it out for yourself. It would appear you are unable to process what Mr Bill has been saying all these years you have been reading him. Better yet head off to NYC and you can see for yourself how most of the unwashed masses are figuring it out. Here’s hoping the Commie Mandami wins. Then we can add NYC to the long list of failed crap ideas. Along with Chicago, San Francisco, Illinois, California and NY state. Notice a pattern here Flier. Of course as Bill so smartly loves telling us who are listening, Government, what is it good for? Absolutely noth’in!!
Re Dan's comment it appears the govt has been working toward a "cashless" society for some time. Beginning with the state and local "SNAP" etc. benefit cards. LA provided them back in 2005 after Katrina so the move to checkless is just another step down that pathway. Sure, it is much less expensive than a physical check, and supposedly "safer." Except for the established fraud that has occurred thus far. At least for now our congressional leaders have codified in law that there will be no CBDC. When that gets overturned, that's when the real fun will begin. The train to "1984" is picking up speed ! ! !
Take away the checks and the coins that no longer contain precious metal. Set up the Stablecoins and reduce fiat currency purchasing power to zero through printing. Provide a pathway for the unbanked to enter the system with Federal debit cards. Now just introduce crisis. I would say three of the fence walls are up and holding as the people continue to blindly trust the government. We just wait a bit longer and the final fenced gate is closed with most folks inside the trap. It’s an individual choice to move outside of the system and frankly I am uncertain that most people even recognize the fence.
The thesis, the level of corruption and corruptibility in Man is constant, is interesting, and likely true. What DOES change, over time, is the acceptance of corruption within a society/state, and the result is that those who can be persuaded to be corrupt for the purpose of gaining advantage, will succumb, and corruption increases and its attendant circumstance, social decline, increases as well. It's a distinction that must be drawn. The net effect is that there is more corruption and bad effects, and it doesn't really matter what the actual inherent level of corruption and corruptibility in Man actually is. Best always. PM
Exactly brother Paul! “What one generation tolerates, the next generation will embrace.”Overton Window
The changes that define us….not difficult for anyone to see( but not those without historical perspective) , often accepted as liberalism/progressivism. Words redefined slowly before our eyes. The changes permeate our life over time. …slowly but surely the intolerance, becoming tolerance then acceptance. Morality, The 10 Commandments, our values all being challenged. But diminished. Here’s a quick summary of the obvious from AI..ChatGPT:
⸻
⚖️ Social & Moral Norms
1. Divorce
• One generation tolerated it as shameful but sometimes necessary;
• The next generation embraced it as a normal personal choice.
• Example: In the 1950s, divorce was rare and stigmatized in most Western societies. By the 1980s–2000s, it became commonplace and largely accepted.
2. Premarital Cohabitation
• In the 1960s, living together before marriage was frowned upon but tolerated among “rebellious youth.”
• By the 1990s–2000s, it became the norm before marriage in many countries.
3. Same-Sex Relationships
• In the mid-20th century, they were criminalized or socially condemned, though quietly tolerated by some.
• By the 2010s, many nations embraced same-sex marriage as a right and celebrated LGBTQ+ identities.
⸻
🖼️ Culture, Media & Entertainment
4. Language and Media Decency
• 1950s: Mild profanity or sexual innuendo was controversial.
• 2000s–2020s: Explicit language and sexuality are mainstream in movies, music, and social media.
5. Violence in Entertainment
• 1970s: Graphic violence in film was shocking but allowed for “artistic freedom.”
• 2000s–2020s: Audiences expect realism, and even video games feature extreme violence as standard.
⸻
💰 Business & Technology
6. Consumer Debt
• 1950s: Families avoided credit and debt was shameful.
• 2000s: Credit cards, loans, and even “buy now, pay later” are standard and often encouraged.
7. Privacy & Surveillance
• Early 2000s: People worried about online privacy, reluctantly shared info on MySpace or Facebook.
• 2020s: Many willingly share personal data with apps, devices, and social platforms — embracing convenience over privacy.
⸻
🏛️ Government & Politics
8. Government Surveillance
• Post–9/11: Citizens tolerated surveillance as a necessary evil for security.
• 2020s: Many accept constant data monitoring (CCTV, digital tracking, facial recognition) as normal life.
9. Drug Policy
• 1980s: Marijuana use was condemned and criminalized but tolerated in underground culture.
• 2020s: Legal and socially accepted in much of North America and parts of Europe.
⸻
🌍 Lifestyle & Values
10. Materialism and Consumerism
• 1950s: Modesty and thrift were virtues; consumerism was tolerated as prosperity.
• 2000s–2020s: Constant upgrading, luxury branding, and social media “flexing” are embraced as lifestyle goals.
Morality and Social Norms:
Era
What Was Once Tolerated
What the Next Generation Embraced
1950s–1970s
Divorce seen as tragic but allowable in dire cases
Became a normal, acceptable choice — no stigma
1960s–1980s
Sex before marriage tolerated quietly among youth
Became a standard part of dating culture
1970s–1990s
Pornography and explicit media tolerated but restricted
Became mainstream and accessible everywhere
1980s–2000s
Homosexuality tolerated by some, condemned by most
Same-sex marriage legalized and celebrated
2000s–2020s
Gender fluidity and pronoun changes tolerated in fringe spaces
Increasingly embraced in schools, workplaces, and pop culture
Politics and Governance:
Era
Tolerated
Later Embraced
1940s–1960s
Government propaganda tolerated during wartime
Mass media spin and political marketing became standard
1970s–1990s
Lobbying and corporate influence tolerated as “part of democracy”
Now fully embedded in political systems as normal
2000s–2010s
Mass surveillance tolerated for national security
Routine data collection and tracking accepted by public
2000s–2020s
Executive power expansion tolerated post-crisis
Embraced as leadership strength or “decisive governance”
2010s–2020s
Polarization and populism tolerated as political flavor
Became defining features of many democracies
Technology and Culture:
Era
Tolerated
Later Embraced
1990s–2000s
Online sharing tolerated cautiously (“Don’t post personal info”)
Oversharing became the norm on social media
2000s–2010s
Data tracking & targeted ads tolerated for convenience
People embraced algorithm-driven feeds as essential
2010s–2020s
AI monitoring, smart devices listening tolerated as “trade-off”
Now embraced as helpful assistants (Alexa, Siri, etc.)
2010s–2020s
Virtual relationships & digital personas tolerated among gamers
Embraced as normal social life (VR, avatars, influencers)
2020s–future
Deepfakes & AI-generated media tolerated for art
Likely to be embraced as standard content creation tools
Family and Cultural Values:
Era
Tolerated
Later Embraced
1950s–1970s
Working mothers tolerated during necessity (e.g., war)
Became a fully accepted and encouraged norm
1960s–1980s
Single parenthood tolerated with sympathy
Embraced as independent and self-sufficient living
1980s–2000s
Dual-income households, delayed marriage tolerated as practical
Became the dominant model
2000s–2020s
Childfree lifestyles tolerated quietly
Now openly embraced as legitimate life choice
2010s–2020s
Nontraditional family structures (co-parenting, same-sex parents) tolerated in some circles
Widely accepted and protected legally
Economics and Everyday Behavior:
Era
Tolerated
Later Embraced
1950s–1970s
Credit and borrowing tolerated for homes or emergencies
Consumer debt became a way of life
1980s–2000s
Materialism & status spending tolerated as ambition
Became an identity through social media “flex culture”
2000s–2020s
Gig work & job instability tolerated as temporary
Embraced as freedom and flexibility
2010s–2020s
Subscription models (renting digital life) tolerated for convenience
Now embraced as the default consumption pattern
Every generation redraws the boundary between “acceptable” and “ideal.”
What was scandalous becomes normal. What was normal becomes old-fashioned.
The tolerance line keeps shifting — always forward, rarely back…….Behooves value judgements.…of good/bad/evil…yet our ability to see anything but good is denounced by the “forest voices hiding the trees”…..reminds of legacy media hard at work to guard us from anything other than a forward marching liberal/progressive menu….
The MAGA agenda has some elements going in the “rarely back direction”…and seldom, if ever, mentioned by BP…. bias commentary…border/nation sovereignty.…election integrity….citizenship…gender definition…vulgarities of those in liberal media…..
Exactly and Thank you Tom🙏. ”Drug Policy • 1980s: Marijuana use was condemned and criminalized but tolerated in underground culture.” Yes Tom, unfortunately that same “underground” culture has been granted immense power starting with the Clinton administration and quadrupling with Obama. We are literally in a WAR for our country and freedom. If we let the leftist take control, as we allowed in the past, not only America, but all Western civilization will end. This is why the leftist motto-Tolerance-Diversity-Equity are nothing but a sweet bunch of words to simplify a very complicated and evil agenda. It’s now called the Democratic Party.
The US is becoming like Latin America with more corruption and less rule of law. I predict the dollar goes the way of their currencies too.
Yes Phil, that is what happens when you allow tens of millions of third world illegals into your country. Another big shout out to the Puppet of Obama, Joe Biden…
"Prepare for Rip-Off" Bonner entitles his column. Yet, I'm being ripped off every single day by reading his column. I can't stop reading because I'm curious how far Bongo Bill will go to ignore all the negative and destructive things the Democrats are doing (and yes, the fact that they've been using bad language for a lot longer) and also ignore all the accomplishments of the Trump administration, only to focus on what Bongo considers to be the bad. I don't deny that there is room for criticism concerning some of the things the Trump administration is doing or not doing, but the issue, if one wants to be fair and balanced, is to write about both. Not from Bongo. If Bongo were honest, his byline would be:
"The TDS Times" by Bill Bonner.
Everything negative compiled from the left-wing news media that is real or imagined about the Trump administration.
Yes John, it seems the more president Trump and America wins, the angrier Mr Bill or his deranged ghost writer becomes. I kinda enjoy it my friend 😊
Thank you Dan as always. The one takeaway here is that America is in severe debt and it’s going to get worse before the collapsing financial crisis takes hold. Everyday I thank God that we now have an America First Business Man in office, working harder than any other past president in our history to try and fix this insane mess that both Republicans and Democrats created. Thank God those two demented freaks that the democrats tried to destroy America with were not elected. Yes Dan, the world is changing very fast, but America has a much better chance for future success with a business man who is a pro at saving his assets from bankruptcy. Thank God President Trump considers America the worlds most precious asset 🇺🇸🇺🇸🇺🇸
At the end of the day, the dollar and the whole global financial system is built on trust and confidence. Regardless of who is in the White House it seems that the actions are undermining faith in the currency and the system.
It's not a matter of whether it's Joe or Barrack or Donald who is running things. It is the deliberate policies of the people who actually run things. Debasement of the currency is a policy, not an accident. The fact that your dollar buys you less when you purchase groceries or anything else is a policy set by the people who really run things. And no, I do not know who they are.
There is a stated policy to erode your purchasing power by a target figure of 2% per anum. According to John Williams at Shadow Stats, who calculates inflation using methodology used before governments started making hedonic adjustments, the real rate of inflation (debasement of your currency) is currently over 8%
https://www.shadowstats.com/alternate_data/inflation-charts
When your "money" is no longer a store of value it is currency.
This is why foreigners have reduced their "investment" in debt and central banks are backing up the truck to load up on gold.
There is a reckoning that is coming. You cannot debauch the value of your biggest export as a matter of policy and expect us not to notice.
As always, the question is...
Got gold?
Flier, you raise the point that I have raised a few times. I enjoy reading the comments made by other readers of Bill’s BS. Some I agree with and some I disagree with, but all of which I enjoy simply because they are well “spoken” and second because they display many perspectives that I had not considered. However, many ignore the fact that Bonner et al is a financial newsletter which is supposed to provide [drum roll] financial advice. Dan and Tom are excellent and they are the reason why I paid to join Bonner et al in the first place. I was ignorant of Bill bias toward DJT because he didn’t sound off on him as much when Sleepy Joe was captain of the ship. Fact was Bill didn’t sound off on Sleepy much at all compared to DJT. I guess the “price” we pay to get Dan and Tom’s sage advice is putting up with Bill’s BS. If Dan and Tom just ship, I’ll be the first one over the railing.
"The overall rate is said to be around 17%." Who said? Sure would be good to see your sources, you sound like Nora O'Donnell..... "It has been said...", such bs. Back it up MR. B
A reasonable question. The ~17% average tariff estimate comes from multiple sources depending on whether you look at nominal rates, sector-weighted averages, or effective tariff incidence on consumer goods.
A few of the commonly cited ones:
• Peterson Institute for International Economics (PIIE):
Their 2024 analysis estimates the effective tariff rate on total US imports at roughly 16–18 percent when accounting for cumulative Trump + Biden tariffs still in place.
• Tax Foundation (2024 update):
Their modeling shows that the average applied tariff rate rose from ~1.5% pre-2018 to the low-to-high teens on affected imports. Consumer-facing categories (appliances, electronics, furniture, clothing) run even higher.
• US International Trade Commission & Congressional Budget Office:
Both have reported that downstream pass-through to consumer prices results in tariff-equivalent burdens in the mid-teens once supply chain markups and freight are added.
So no, it isn’t “something someone said on TV.”
Bill’s number is within the range of published economic research from multiple non-partisan institutions.
If there is a different estimate you believe is more accurate, feel free to post it — but calling the number “BS” isn’t a counter-argument. Data is easy to verify.
...convince a non-swimmer the "average" depth of the lake is only 3 feet.
-
The question is not what the average tally is.
The sum seems irrelevant as it benefits some and punishes others...
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The crux should be "what is the advantage to the American consumer".
It's a mixed bag that in the long run is designed to benefit all Americans...
Yep, Angry time will tell all. I may not be around to see it , But time will do it's duty!
Ok now do how much the hidden tax is that foreignt countries are charging U.S. exporters via their tariff's. How much are those hurting U.S. wage earners by loss of jobs and income. I'll wait...
Foreign tariffs on U.S. exports absolutely exist, but they didn’t just appear out of nowhere. They were retaliation for U.S. tariffs. Every time the U.S. has tried to “protect” domestic producers with broad tariffs, trading partners hit back by taxing American exports. It happened under Reagan, Bush (2002), Obama (2009), and again under Trump — just on a much larger scale.
The economic studies are remarkably consistent: whatever jobs the U.S. temporarily protects in one industry get wiped out by export losses and higher production costs in others. American farmers, manufacturers, and workers end up paying for the trade war twice — once as consumers (higher prices), and again as exporters (lost markets and lost jobs).
So yes, foreign tariffs hurt U.S. workers. The catch is: they were a direct reaction to our tariffs. When we tax their imports, they tax our exports. History shows we always lose more jobs than we save.
Have to disagree with your position, does sound like something Hakeem Jeffries would try to sell,
Here's a breakdown of why this is the case and where the concept of reciprocity comes into play:
1. The Global Baseline: Most-Favored-Nation (MFN) Tariffs
Most tariffs that foreign countries apply to U.S. goods are their standard, or Most-Favored-Nation (MFN) tariffs.
MFN Principle: Under the rules of the World Trade Organization (WTO), if a country grants a special low tariff rate to one trading partner, it must grant that same low rate to all other WTO members, including the U.S. (with exceptions for Free Trade Agreements).
Purpose: These tariffs are set by each country for a variety of domestic reasons (e.g., to protect a domestic industry like agriculture, or simply to raise government revenue) and are entirely independent of U.S. tariff policy.
Conclusion: These standard tariffs existed long before any recent major U.S. tariff actions and would remain even if the U.S. had zero tariffs.
2. Retaliatory Tariffs (The Exception)
The tariffs that are specifically reciprocal (or retaliatory) are typically the ones you hear about in trade disputes.
Mechanism: When the U.S. imposes a new tariff on a specific country or product (e.g., U.S. steel tariffs), that country will often invoke WTO rules to argue the U.S. action is unfair. They will then impose new, targeted tariffs on U.S. goods (like U.S. whiskey, motorcycles, or agricultural products) of a comparable value.
Nature: These are retaliatory tariffs. They are expressly designed to pressure the U.S. into removing its initial tariff and would likely be removed if the U.S. ended its measure. They are temporary measures to address a trade conflict.
3. The Concept of Reciprocity in Trade Negotiations
The term "reciprocity" is still a fundamental principle, but it is applied in a broader sense during trade negotiations:
Trade Deals: When countries negotiate a Free Trade Agreement (FTA) or a global WTO-level tariff reduction, the goal is often reciprocal concession. For example, the U.S. agrees to eliminate tariffs on European cars if the EU agrees to eliminate tariffs on U.S. agricultural products. The outcome is a mutually agreed-upon reduction from a pre-existing tariff.
Not Tit-for-Tat: Reciprocity in this sense does not mean "our tariff is 10% because yours is 10%." It means the overall value of the concessions is viewed as roughly equal.
Final Takeaway: The vast majority of foreign tariffs on U.S. goods are routine and would exist regardless of U.S. action. Only the specific retaliatory tariffs are directly contingent on a preceding U.S. tariff.
What you’re describing with MFN tariffs is correct in theory, but it has almost nothing to do with what actually happened between 2018 and 2020.
Trump did not launch a carefully negotiated reciprocity strategy or a textbook tariff equalization. There was no structured economic analysis, no long-term cost model, and no WTO-based bargaining. It was exactly the opposite. Trump imposed broad, sweeping tariffs unilaterally and without a coherent plan, openly saying that “trade wars are good, and easy to win.”
Because of that, the U.S. didn’t trigger the normal MFN baseline you’re talking about — it triggered retaliation.
How do we know? Because:
• China immediately targeted U.S. agriculture
• The EU hit U.S. bourbon, Harley-Davidson, oranges, and textiles
• Canada and Mexico hit U.S. steel, pork, and dairy
• The WTO ruled several of Trump’s tariffs illegal
• The U.S. manufacturing sector shrank for the first time since the 2016 recession
• Farmers required tens of billions in bailout payments because export markets evaporated
If this were simply “existing MFN tariffs,” none of that happens.
MFN tariffs were already there — and the world kept trading anyway. What caused the job losses and the export collapse were the new, sloppy, politically-driven tariffs that never went through economic review and had no strategic objective beyond “we buy more than we sell.”
That isn’t reciprocity.
That isn’t industrial policy.
That’s just economic vandalism disguised as patriotism.
The irony?
Americans ended up paying the tariffs themselves through higher prices, manufacturers paid more for inputs, farm exports collapsed, and the U.S. had to borrow billions to keep farmers from going bankrupt.
So yes — other countries had baseline tariffs long before Trump.
And precisely because the U.S. decided to ignore the system and go full sledgehammer, those same countries used WTO rules to hit back directly at American workers.
That’s not “standing up for America.”
It’s America punching itself in the face, then congratulating itself for bleeding.
The point was, THE US didn’t start this, foreign countries HAD tariffs in place. You're earlier comment put the blame completely on the US which is in effect wrong. As for prices, i don’t really see consumers paying the price, most goods have gone up marginally, some have actually come down, and some haven’t moved at all. Consequently, I remain in disagreement with your position.
shhhh...not suppose to notice, only notice what Trump is doing....shhhhh
Lucas thanks for defending Bill, not the point. I agree numbers are not necessarily off, the statement is. Bill, as the eloquent orator / writer he is definitely knows better than to publish off the cuff comments like "Some would say" when quoting facts that are designed to explain the position.
I generally enjoy most of his prose, however, with his severe case of TDS, he has tended to fall of the money beat, so when he jumps back on the message is diluted. Further, it losses its impact with such statements.
Nothing more, I truly enjoy Bill's view when he is on the beat, but again, of late he has reduced impact - come on back Billy! You are really good at this stuff -
PS: Are you a relative of Bill? was wondering with the defense. :-)
I'm not a close relative to Bill — though since we all share DNA somewhere back in history, so it’s fair to say I’m a very distant cousin. Likely, yours as well! Thanks for asking, cuz!
As for “TDS,” it’s less a syndrome and more the predictable reaction you get when the most important office in the United States is treated like a private circus. The larger the abuse of power, the stronger the response from anyone paying attention. Bill isn’t hysterical — he’s calling out behavior that, in any other era, would have ended a presidency in five minutes.
Whether or not someone respects the office, they should at least respect the people they claim to represent. He doesn’t. That’s the point.
And since we’re asking about close relatives: are you by any chance related to Mr. Trump? ;)
LMAO…yes, I’m a long lost son. HE denies it hence i get nada from the estate. Thats fine, I sux at golf. You may see it as a circus, i see it as long over do “righting the ship”. The lunes on the left have done so much damage between open borders, Ukraine (and other) corruption, Weaponizing DOJ, locking up two Trump allies for doing exactly what that scumbag Holder did, I can go on. IT would take the steps that are now manifesting to get the country back on track.
IMHO we need return to the days of Reagan/O’Niel whom were diabolically opposed to each other’s politics. One the President, the other Speaker of the house, however, every evening at 630, Tip O’Niel would go down to the Oval Office for a drink, a shot of Irish whiskey with his good friend Ronald Raegan. That my friend is how it is suppose to work, disagree, fairly fight, put it to the voters and let the cards fall where they may.
Verses high-jacking the country because the voters threw out the extreme positions of the left, so instead they take their ball and go home? Children, nothing more. Throw em out
Tacitus: "the more corrupt the state, the more numerous the laws."
...why poke at only the 1% ?
A whopping 65% of the U.S. population has experienced substantial wealth gain since 1989;
that would be homeowners.
About the same % own stocks today.
Not sure if the lower economic folks ever had it better...
They lack education, not opportunities.
and Then the thieves take their Master card. good idea.
Bill is writing sensibly and knowledgeably about what is going on, with I assume, the intention of getting people to face that the mass of citizens who vote the elite into positions where they can plunder these same citizens, are the ones who will have to change their expectation of getting ever more free stuff. The voters need to change their own conduct and expectations, if there is ever to be a change in direction, and it would be pointless for Bill to start dictating what should or should not be done if his audience wouldn't listen anyway - and there is no sign I can see that they would listen and change their behaviour. As it is right now, the vast majority are more interested in what they can get without having to produce much that is useful, and they vote in ways that further that interest.
What is happening in Argentina seems to be good evidence that Bill is on the right path. Through decades of being told what was required, there was no change in Argentina's path until the electorate got so thoroughly fed up that they changed what they wanted. Once they decided that freedom to live their lives without government dictating every facet of their existence in exchange for freebies was important, they finally voted the deadwood elite out and now things have improved radically.
To my mind, the best thing Bill can do is to keep preaching the same message until all voters recognize that they themselves are the problem, and take the same action the Argentinians did - kick the parasitic elite bums out of power.
Instead of complaining about Bill repeating the message, maybe you should all ask yourselves whether you are a part of the problem,by expecting and accepting freebies, rather than taking responsibility for everything that goes on in your life. You all need to recognize that there is nothing free in your life - for everything a price must be paid and the price everyone is paying right now is the situation that exists right now and that this price will continue to rise until you vote differently.
Everyone just needs to grow up!
Bonner really doesn’t help his argument by quoting Leftist activist organisations like Oxfam America…
"switch to an electronic direct debit of your bank account"? Did you mean "deposit"? Or do you know something I don't know? Or maybe the AI you are using knows something we don't know :-)
It would be a direct credit of your bank account