Our modest contribution to “Sh*thole Theory”

[Bill Bonner's Diary]( Our Modest Contribution to “Sh*thole Theory” By Bill Bonner, Chairman, Bonner & Partners [bill bonner] BALTIMORE – We recently had our DNA checked. Unsurprisingly, it showed that we are what we thought we were – Irish, English, and Scottish. But we are something more. In addition to the Irish riffraff, English aristocracy, and Scottish bagpipers nesting in our family tree, there are, apparently, some Moors in there, too. “North African” is how Ancestry.com describes it. “Where did that come from?” we asked no one in particular. “Some sh*thole country!” came the answer. Here, developing like a photo in a darkroom tray, is our modest contribution to Sh*thole Theory. Recommended Link [6 more states set to legalize marijuana]( - Missouri - Oklahoma - Utah - Michigan - Vermont - New Jersey Are all moving forward with some form of marijuana legislation. And Massachusetts has already legalized recreational pot and is set to start selling it later this year. And later this year, Canada is set to legalize recreational pot for the whole country. The legal marijuana market is going to explode in 2018. And it's not too late to get into these little-known pot stocks now. If you don't, next year at this time, you'll be sick to your stomach when you see how the marijuana stock market has hit. [Click here for details]( -- All Over the Place When we first caught wind of President Trump’s “sh*thole” comment, we were outraged. We thought he was talking about our hometown. A family friend came to Baltimore for a visit last week: I couldn’t believe it. You roll up your windows and lock the doors. And drive as fast as you can. There’s just block after block of boarded-up houses and padlocked stores. It doesn’t look as though anyone lives there. I don’t see how anyone could live there. We were, of course, relieved when we realized that our president was referring to foreign sh*tholes… not those in the USA. But that’s the problem with sh*tholes: They’re all over the place. And they don’t stay put. Ireland was a sh*thole for about 400 years, after Oliver Cromwell’s army laid waste to the country. It was considered such a woebegone, poor, benighted backwater – and the “wild Irish” so disagreeable – that efforts were made to keep them from immigrating to the U.S. Now, Ireland is not so bad. (We’re on our way back there at the end of the month.) China was a sh*thole when we first visited back in the 1980s. Nothing seemed to work. The roads were horrible. The people stared at us as though they were starving and we were a plump puppy. But when we went back a couple of years ago, China didn’t seem like a sh*thole at all. In many ways, it is more advanced than the U.S. – with more skyscrapers, luxury autos, and super-high-speed trains. Same goes for Russia. A depressing place back in the early 1990s, Moscow is now considered one of the most dynamic and cosmopolitan cities in the world. Recommended Link [How I almost lost $1,000,000 in 8 hours]( [image]( In 8 hours, I almost lost my entire $1,000,000 life savings. But by [using this "secret key" technique]( I saved all my money… generated a fortune… and got to retire at 42, with more security than I'd ever imagined. I've been quietly using it for the past 26 years to make millions. [Click here and see my “secret key” in action]( -- Visit to South Africa One of the nice things about being from Baltimore is that we know a sh*thole when we see one. On our first visit to South Africa, many years ago, we visited the country’s largest ghetto, Soweto, expecting to see a real sh*thole. This was during apartheid. Soweto had gotten a reputation as a murder zone; young black gangsters called “tsotsis” attacked passers-by… and often killed them. But we have our tsotsis in Baltimore, too. Gangs of youths – including young girls – have a go at people for no apparent reason. In a recent incident, they went to work on a young woman with a baseball bat, leaving her unconscious on the street. The surprise was that Soweto was relatively cleaner and more prosperous than the ghettos of Baltimore. With little help from the white-minority government, it looked as though the people of Soweto had taken it upon themselves to look after their homes, their families, and their township. Here in Baltimore, they wait for a federal program. Recommended Link [What Trump's "February 2018 surprise" could mean for your retirement]( Starting February 2018, the Trump administration is expected to announce a new mandate that could change the financial future for retirees across America… Could Donald Trump's "February Surprise" make you rich? To find out… [Click here]( -- Awful Place? Sh*thole Theory suggests that there are some bad places with bad people we wouldn’t like to have as neighbors here in the U.S. But like all “public knowledge,” it lacks specificity. A recent study, for example, suggests that when African immigrants move into an African-American community, the crime rate there goes down. And in London, African immigrants tend to earn more and get more advanced degrees than the native English population. But we do not live in a “country,” or know “the people” who live there. Instead, we know specific individuals and families in specific communities. We’ve been visiting Nicaragua for nearly 20 years. The second-poorest country in Latin America after Haiti… and ruled by a socialist government… it would easily qualify as a “sh*thole.” Sh*thole Theory suggests that it is an awful place. But in our experience, it’s just the opposite. The people are among the nicest you’d meet anywhere. And the quality of life on Nicaragua’s Pacific Coast can be the highest in the world. One of the most felicitous scenes we’ve ever witnessed was in Nicaragua. Children had tied a rope to a tree leaning over a river. They swung out over the water and jumped in. No computers. No big screen. No admittance fee. None of them had any money. None had modern appliances (most houses had dirt floors… or, for wealthier people, concrete). None of them were likely to go to college… or end up with a fat sinecure working for the Deep State. Would we want to have them as neighbors? Sure, why not? We could use a cheap gardener. Regards, [Signature] Bill MARKET INSIGHT: THE ENERGY REBOUND IS HERE By Chris Lowe, Editor at Large, Bonner & Partners [Chris Lowe] More evidence of the recovery in the energy sector… Last Tuesday, we reported that [U.S. crude oil prices were up almost 50% over the past six months](. Today, we’re taking a look at Energy Select Sector SPDR Fund (XLE). It tracks the performance of the 32 biggest U.S. energy companies by market value. These include oil majors ExxonMobil, Chevron, and ConocoPhillips… as well as oilfield service companies Halliburton and Schlumberger. [Chart] As you can see, since their low last August, shares in XLE are up 25%. – Chris Lowe FEATURED READS [China’s Crypto Crackdown Escalates]( Last year, China banned initial coin offerings (ICOs) and shut down local cryptocurrency exchanges. Now, the Chinese government is taking its war on cryptos one step further… [Why This Big Bank Is Praising Trump]( Swiss bank UBS heaped praise on President Trump during a recent client gathering. Here’s why the bank believes the president deserves “high marks.” [How Investors Can Thrive in 2018]( As investors face 2018, many have questions. Chris Mayer, one of Bill’s top analysts, reveals the one thing you can do today to prepare for the year ahead. MAILBAG [After taking a few punches]( Bill gets some words of encouragement in today’s mailbag… Bravo, bravo! The whole political show is a foil to distract. Almost all of your readers are “wage slaves,” low-paid or not, and sadly, they do not even know it. I am working to free myself! Love your Zappa quote! – Michael P. Sad that you’ve been getting so much flak and even insulting comments recently. Sad because the comments I’ve seen indicate the appalling lack of wisdom and wit amongst the so-called intelligentsia of the USA. Blind patriotism and partisan politics form the roots of all evil. I wish these immature people would grow up and explore life’s mysteries with open minds as you do. – Michael B. Thank you for your honesty about POTUS. Unfortunately, some of your readers are as thin-skinned as he is… and they seem to think he is wearing clothes. So sad. – Andrea P. It would seem that all of the “dear readers” taking potshots at your writings of late seem to have forgotten the old adage that “religion and patriotism are and always will be the last refuges of a scoundrel.” Election to public office does not imply immediate listing as one of the Pope’s candidates for sainthood. One should also remember that only when a person has exhausted all avenues of gainful employment should said individual throw themselves on the mercy of the constituency and run for public office. Keep a watchful eye and let the chips fall as they may. – William H. Let’s face it, Bill, the truth is the hardest thing in the world to hear. We all “want” it, but very few can stand it. No, Bill, you are not wrong about The Donald. But then again, his true character was baked into the cake. After all, anyone who claims that he can make a country more free with a wall should never have been taken seriously in the first place. But alas, we love the lies that our lovers tell us, no matter how we resist the very idea. – Joseph J. Hang in there… and keep your sense of humor! – Farah B. It appears your haters suffer from projections of their own greed and jealousy. Also a perennial shortage of deep, true wit, the depletion of which has been accelerating since the 1700s, and disappearing especially fast with a TV in every room. Social and political binary have the strong gravitas… complicated issues contemplated no deeper than a football game. Keep up the good work and honest wit. At least one dear reader gets you and appreciates you. – Laurie F. Thanks for all you do and your fine research. Your comments about Trump are spot on and your honesty and keen perspective and opinions are refreshing. Keep on! I think some people are blinded by his hair and pouty lips. – Nadia V. All the comments you have shown on your [recent]( look as if they most likely came from the Chump and his White House aides. You know his “base” will support him no matter how bad things get for them or the country. They’ll blame it all on the media and/or the damned liberals. It always amazes me how people will defend this wretched slug and the other members of his group of gropers and pedophiles like Roy Moore. The GOP has become the party of Chump and has the stink of old, rotting corpses. – Dale L. Don’t change. I like it! I know it’s tongue-in-cheek. Please don’t die laughing at them. KEEP UP THE GOOD WORK. – Carl T. IN CASE YOU MISSED IT… Most investors are so distracted by bitcoin that they’re missing the bigger picture… That’s what Jeff Brown, Bill’s top technology analyst, told us recently. Jeff says smart investors have the chance to make 21 times their money in cryptos over the next few years. But don’t blindly buy bitcoin, [do this instead](. [Video]( [Bonner and Partners]( © Bonner & Partners 55 NE 5th Avenue, Suite 100, Delray Beach, FL 33483 [www.bonnerandpartners.com]( This e-mail was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. 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