Quarantine chronicles

[Bill Bonner’s Diary]( Quarantine Chronicles The officials have alerted us to ensure we have a month’s worth of necessities. Zelda and I have stocked up on red wine, whiskey, rum, vermouth, absinthe, white wine, sherry, gin, and lord, if we need it, brandy. Please pray for us. – Fictional letter from F. Scott Fitzgerald, quarantined in the South of France, by Nick Farriella [Bill Bonner] SAN MARTIN, ARGENTINA – The fever gets worse. London closes subway stations. Friends in France say visits from children have been forbidden. Seattle, says The Wall Street Journal, is a “ghost town.” Stock markets are knocked out as investors realize how fragile the financial system has become. And the politicians and meddlers become delirious, making things worse. As for the stock market, you know as well as we do. The entire “Trump bump” has now been erased, with some of the most popular stocks down even more. Since the S&P 500 peaked on 2/19/2020… - Norwegian Cruise Line is down 86% - Royal Caribbean Cruise Line is down 82% - Carnival Cruise Line is down 81% - MGM Resorts is down 79% - United Airlines is down 74% - Boeing is down 73% - Marathon Petroleum is down 71% - Citigroup is down 55% - Hilton Worldwide is down 55% - Las Vegas Sands (casinos and resorts) is down 46% - ExxonMobil is down 44% - Ford is down 44% - Starbucks is down 43% - Best Buy is down 41% - Disney is down 40% - Goldman Sachs is down 40% - Union Pacific Railroad is down 39% - JPMorgan Chase is down 38% - McDonald’s is down 37% Recommended Link [Has Teeka Lost His Mind?!]( [image]( Big T just issued what could be the biggest prediction of his 30-year career. - Just $500… - Into each of [these 5 tiny cryptos]( never revealed them before)… - Could make you $5 million richer, in as little as 10 months. That’s roughly 300 days from today. Is Teeka out of his right mind… Or is he right about his 5 Coins to $5 Million prediction? You be the judge. Last night, Teeka shared all the proof with you… including details on how to access the names of these five cryptos. [Click here to watch]( -- Rescue Economy Oil fell another 25% yesterday, “pricing in a depression,” says colleague Dan Denning. The Federal Reserve is comatose after having exhausted its snake oil. Key rates are already at zero, more than 2% below the rate of consumer price inflation. But wait, here come two former Fed heads with more quackery… The Financial Times published an appeal from Ben Bernanke and Janet Yellen: The Fed could ask Congress for the authority to buy limited amounts of investment-grade corporate debt… The Fed’s intervention could help restart that part of the corporate debt market, which is under significant stress. No mention was made of why it is under stress. That would have involved a confession. Bernanke and Yellen pushed down rates so low that the “smart” thing for corporations to do was not to save their money… but to borrow heavily, counting on a bailout in the next crisis. [Amazing 17-second Video Reveals Key to Tech Fortune…]( Well, the crisis is here… and so is the bailout. The mob, the chiselers, the connivers, insiders, delusional economists, and grifter cronies turn to the central government. “Touch us. Heal us. Give us more of that magic elixir – your fake money!” The money is already on its way. Republicans and Democrats can never agree to cut spending but they increase it in a trice. Bloomberg: Congress, White House in Race at ‘Warp Speed’ for Huge Stimulus But let’s continue the chronicle of our exile… Recommended Link [Rich America’s Dark Secret]( [image]( The secret behind the anger, violence, and desperation in this country. And why it’s about to cause a rare crisis… [Read the shocking details]( -- Exiled in Argentina We are in the Northwest corner of Argentina, in the Calchaqui Valley. The valley itself is sparsely inhabited. And it is bordered on both sides by deserts and high mountains… which are scarcely inhabitable at all. Either way you go, you can only go on horseback… and it will take days before you reach another living soul. In addition, we are on the far side of the rain-swollen Calchaqui River itself, reachable only by footbridge, involving a walk of a mile or so. As a final protection, the fever has put us under house arrest, imposed by the local health authorities. “What luck…” said Elizabeth yesterday. “We barely made it… but it’s so nice to be here.” [New 5G Device Revealed to Public for First Time]( Everything is shut down. Flights are banned. There are roadblocks on the main drag up and down the valley. Foreigners are confined to houses and hotels. “Don’t go anywhere… and don’t accept any visitors,” advised our lawyer. We had scheduled several rendezvous with friends. All have been cancelled. “But we have everything we need here. We’re so lucky,” Elizabeth repeated. Recommended Link [Silicon Valley guru Jeff Brown: “The first trillionaires will come from this”]( [image]( Is it possible for a lone investor to become a trillionaire? According to Silicon Valley experts… including a billionaire “Shark” from the popular business show… The answer is yes! All it takes is the right opportunity. And the new device you see above is expected to grow into a $15.7 trillion market. Better yet, only three companies dominate this technology. You can get in now for around $226. [Click here to see details of three stocks that could create a trillion dollars in wealth]( -- Fulsome Wine Supply The view is magnificent. [image]View from our office window The house – though basic – is comfortable. We get water from a spring. Meat and vegetables are carried over from the farm. We heat with wood fires. And we have the financial news to amuse us. We have also a fulsome supply of our own wine to help us through moments of doubt and despair. [image]Our 2017 Tacana By the way, the wines of the Calchaqui Valley are unknown to most connoisseurs. But they are among the best in the world. Our son, Will, set up a wine club to help the local winemakers sell them. Almost wherever you are, [Will can ship the Calchaqui wines directly to your door]( Back to the news… Daily Larceny The authorities – with an election coming up… and perhaps mindful of their own finances – add more madness and larceny daily. On Tuesday, the feds were promising each household $1,000. By Wednesday, the Trump Team had doubled it… some people would get $2,000, they said. The Washington Post: White House officials are working with congressional Republicans on an emergency stimulus package that could send two $1,000 checks to many Americans and also devote $300 billion towards helping small businesses avoid mass layoffs, according to two senior administration officials and a Treasury Department fact sheet. And a former Fed governor says we need even more stimulus. Narayana Kocherlakota: Responding to this kind of protracted slowdown will require a bigger stimulus than the 6% of gross domestic product proposed by the administration. Instead, policy makers should be planning for two years in which, in the absence of a fiscal intervention, the output gap will be significantly negative — possibly as much as 6% of GDP, or on the same scale as the recession caused by the 2008-09 financial crisis. It’s going to take a much larger fiscal infusion to make up for that shortfall — something more on the order of $2.5 trillion rather than $1.2 trillion. But this is where it gets interesting. Imagine handing out $1,000 checks all over Baltimore. Perhaps they will simply give out cash at liquor stores. Surely, cocaine and firearm prices will soar. Like every federal giveaway, the checks will do more harm than good. Most important, they will jolt the deficit beyond $2 trillion… destroy the bond market… and bring on the next awful phase of the crisis. It won’t be just illegal drugs and handguns that go up in price, in other words – it will be almost everything. Already, bonds are quaking in anticipation. And mortgage rates – which had dropped to an all-time low of 3.55% on March 2 – are now back over 4%. And here is another major prediction: March 2 will prove to be the best time in history to have refinanced your house. From here on out, interest rates will only go up… and the value of the fake dollar will go down. Eventually, on some glorious day, you will say to your neighbors: “I’m paying 3.55% on a 30-year mortgage.” In shock, envy, and desperation, they will laugh. Or weep. Stay tuned… Regards, [signature] Bill Like what you’re reading? Send your thoughts to feedback@bonnerandpartners.com. [Chart]( MAILBAG Dear Readers continue the discussion on Boomers and the fake-money economy, following Tuesday’s Diary, “[A Pox on Our Houses](... It’s grossly unfair to blame an entire generation such as the Boomers for the financial problems we now deal with. To do so is like saying that all the Russians and Chinese of our generation were Communists, when, in fact, less than 10% actually were or are now. The eligible voters of this country span several generations, and no one generation can be blamed for the results of elections or the spoils that the victors both enjoy and ultimately abuse. Nor can a single generation be blamed for the greed or lack of ethics that has afflicted humans since the beginning of time. Pointing fingers has always been easy and convenient, but looking in the mirror is a daunting task that requires character and humility. – Arthur S. Bill, as usual you are way off. It is NOT the Boomers that screwed up our economy. Put the blame where it is due – the Liberals have done it to us. Just look at the history of Social Security as an example. It was the Democrats that have stolen our retirement funds and used them to start the Peace Corps, give welfare to aliens who never paid into the system, tax our proceeds when we did retire, and use the Social Security funds to prop up Obamacare and pay for an ill-fated Obamacare website. Now, we are getting much less than we paid for in our government retirement program. Thanks, Democrats! And you are blaming the Boomers? Get real. – Mel L. Bill: I was curious as to why you laid the debt problem at the feet of the Boomers when the bulk of the fake money was spent on Supplemental Security Income for people without disabilities, food stamps and medical care for illegals, as well as Earned Income Credits for a wide range of people who did not qualify. The Boomers at least paid something in before starting to take out. – Howard R. Meanwhile, another Dear Reader agrees with Doug H., who in yesterday’s mailbag said, Boomers received big benefits from 1993 for years? Please tell me where, specifically… My only concession to [millennials] is the education system and parental guidance both failed them miserably. So now it’s time for them to WISE UP AND GET TO WORK. – Doug H. Bill, I think Doug H. had it exactly right. All the Boomers I know have been hard and willing workers. But not only has the education system failed, so has our political system (the Deep State). If we are ever to correct the many problems that beset our country, the first step will be to create strict term limits at the national political level. Neither the Constitution nor the Founding Fathers, about which we hear so much these days, envisioned such a thing as "professional politicians." Being a professional myself, I understand well what professional ethics and professional behavior mean, and they are far, far afield from the conduct of "professional politicians." Anyway, keep up the good work, Bill! – George B. Did Democrats fail the economic system, as Mel believes? Is the solution to set term limits for politicians, as George says? Write us at feedback@bonnerandpartners.com. IN CASE YOU MISSED IT… [Hero or Whistleblower? You Decide]( If you own a cell phone, then mobile service providers hope you never get to see this video going viral. It was shot in downtown Denver by a multi-millionaire, who exposed sensitive truths about cell phones and 5G. His experiment will strike a bad chord with cell phone companies. But you’ve got to see what this man “leaked,” and what it means for phone users in the weeks ahead. [Click here to see this developing story.]( [image]( [Bonner and Partners]( Bonner & Partners 55 NE 5th Avenue, Delray Beach, FL 33483 [www.bonnerandpartners.com]( [Share]( [FACEBOOK]( [Tweet]( [TWITTER]( This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. To stop receiving these emails, click [here](. Bonner & Partners welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-681-1765, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@bonnerandpartners.com). © 2020 Bonner & Partners, LLC. All rights reserved. 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