The future can wait

[Bill Bonner’s Diary]( The Future Can Wait By Bill Bonner Thursday, February 11, 2021 When political campaigns are funded by corporations, unions, and non-profit goo, the future is ruled out. – George Gilder [Bill Bonner] RANCHO SANTANA, NICARAGUA – Today, prodded by George Gilder… we connect some big dots. But first, the news... The U.S. stock market – as represented by the Wilshire 5000 Index, which tracks the market value of all American stocks actively traded in the United States – is now “off the charts.” As a percentage of GDP, stocks have reached almost 200% – an all-time record. And it’s not just the big names. The Russell 2000 Index – which tracks the smallest 2,000 stocks in the Russell 3000 Index – has gained more than 50% since November. And it’s done so despite the fact that four out of 10 of its companies are losing money. And there is poor Gabe Plotkin of Melvin Capital Management. He made nearly $850 million in 2020. But then, he got caught in the GameStop hullabaloo and lost $460 million. Easy come, easy go, right? Recommended Link [Buy This Ticker Now: Projected To Jump 1,530%]( [ad_img]( With experts projecting gains as high as 1,530% by the end of this year… If you don’t buy this ticker, you’ll regret it later. Forbes has already confirmed that when all is said and done, “a new class of millionaires may emerge.” [Click here and get the ticker now… no strings attached]( Shocking Headline Hey ho…WT… Well, this is one for the record books. A real, certified, no-doubt-about-it BUBBLE. And as we know, because we weren’t born yesterday, all bubbles burst. They don’t expand infinitely… or forever. They puff themselves up… and then something comes along to prick them. And BOOM! It’s over. MacroMavens’ Stephanie Pomboy was interviewed on Fox News yesterday. She says the usual ratio between GDP and stock market capitalization is about 80%. That is, stocks should be worth only 80% of GDP, not 195%, which is where they currently stand. [Featured: Firm That Predicted 9/11 Issues Urgent Warning: Move Your Money Now]( To get back to where they belong, the stock market will have to cut in half. This, she believes, could be coming soon… as the [inflationary trends]( we’ve been talking about here in the Diary for the last few days come to a head. “It would take relatively modest increases in the monthly consumer price index (CPI) to get us up to or north of 4% year-on-year by May. That headline will be shocking to a lot in the markets,” she warns. This could be the pin that this donkey tail is waiting for. It could cause a panic of selling… followed, of course, by a panic of money-printing. We’ll see… Recommended Link [!!STOP!! “How would you like access to my newest service (retail price $4,000) essentially for FREE?”]( [image]( [Get the full details here: Jeff Brown’s “Investment Accelerator”]( -- Government’s Real Role In the meantime, we’ll return to our theme for today by pointing out that a crash in the stock market is actually not a bad thing. Things that get out of whack have to get back into whack somehow. It really doesn’t matter whether stock prices are low or high… only that they are true. And as Scarlett O’Hara once observed, that’s what tomorrow is for. Like it or not, it always comes… at about the same time every day. But the future – with all its innovations, evolutions, and surprises – must be allowed to happen. Which is where the government comes into play – it’s real role, that is. Whether controlled by Republicans or Democrats, it acts on behalf of the super-elite – those with the most to lose – to stop the future from happening. Like an aging dictator who puts his rivals in jail, the only future the elite will tolerate is one that leaves them rich and powerful… Anything else must be delayed… distorted… and derailed. Which is why the printing presses are running so hot. Remember, it’s “[Inflate or Die]( Either they continue to fund the feds’ schemes – including the bubble on Wall Street – with printing-press money… or they admit the truth. “Hey, look,” President Biden might begin, interrupting the latest episode of I Hate Suzie with an urgent announcement. “We made some mistakes. We spent too much. We borrowed too much. We printed too much. “Well… we’re just going to have to bite…” At about that point, the TV screen would likely go blank. Maybe after some popping noise… or a sprinkle of red drops on the screen. Because there is no way the powers-that-be would stand for it. Surrender to the future? Que sera sera? Not a chance. [Featured: The #1 Tech Stock of 2021]( Scary Future “The future is scary,” they tell the voters. “There are terrorists out there! Viruses! Higher mortgage rates! “The planet is hotting up! The Mexicans are invading! The Russians are stealing our elections! The Chinese are stealing our wealth! A stock market crash! A depression! A coup d’état! “The future? You’re not going to like it. “But don’t worry. We’ll make war on it. We’ll give you a better version of tomorrow.” It is true, of course, that there will be things about the future we won’t like. What if they bring the Confederate statues back? What if Jeff Bezos gets even richer? Or drugs are legalized? Or Joe Biden starts smoking! What if stocks crash and interest rates rise? Oh please… won’t somebody do something to stop it! Oh… and by the way, we all will have to die. That’s in the future, too… guaranteed. And thank God! What a world it would be if time froze. We can’t imagine it, because it is unimaginable. Change… death… the rise and fall of empires… the coming and going of fame and fortune… the building up and the tearing down… clearing away yesterday to make space for tomorrow. (In this Amor Fati – love of fate – sense, COVID-19 – which seems to target the old and the weak – could be seen as a helpmate to the future… not a menace to it.) Yes, Dear Reader, fortunes will be lost as well as made. Old money will give way to new money, just as the old, land-based wealth of the Agrarian Era gave way to the new fortunes of the Industrial Age… which then lost ground to Wall Street and the Silicon Valley billionaires. Detroit, the richest U.S. city in 1955, is now a dump. And the richest man in the world in 1955 is now dead. Recommended Link [Watch Demo of Elon Musk’s Next Big Project]( [image]( Elon Musk made $180 million on PayPal, $18.7 billion on SpaceX, and $110 billion on Tesla. But it’s what he’s planning next that will shock everyone. It could even put up to an extra $30,000 in your pocket every year. [Click here to watch the demo and see it for yourself]( -- Guard the Bubble Excesses have to be squeezed out. The old must be laid in their graves. Mistakes must be corrected. Money moves on… from the old to the young… from weak hands to strong ones. Vanity… laziness… pride… and wickedness are punished. The Devil claims his sinners. Heaven finds her own. But standing tall against this future is the Biden Administration… heavily armed… backed by crony money… and by the entire Elite Establishment… The New York Times, The Washington Post, The Swamp, the military/industrial/prison/entitlement complex… …lined up together… a phalanx of the great and the good… unstoppable… immovable… All there… to protect our sacred democracy… to guard the bubble… to keep the printing presses humming… and to keep the future from making any changes they don’t like. But can they actually produce a better tomorrow? Stay tuned… Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=The Future Can Wait). --------------------------------------------------------------- FEATURED READS [Biden Names His Pick for Deputy Energy Chief]( Biden continues to build his team. He has already filled several key government positions, and recently named his nominations for the Department of Energy. Once confirmed by the Senate, these positions will be central to advancing Biden’s energy agenda. [New Jobless Claims Down, But Labor Market Recovery Stalling]( number of new applications for unemployment benefits is dropping… slowly. But millions of Americans are facing long periods of unemployment. And the Congressional Budget Office estimates that employment will not return to its pre-pandemic level until 2024. MAILBAG Today in the mailbag… a couple of dear readers agree with Bill that [inflation is now inevitable](... Hi Bill. I generally agree with your premise that massive counterfeiting by the Federal Reserve and other Central Banksters will ultimately cause inflation. But the question is “When?” Although there has been a large increase in the U.S. money supply (however one measures it), there hasn’t been any increase in velocity. The latter has been falling since 1997, according to data from the St. Louis Fed’s FRED. In fact, velocity plunged in 2020. Bottom line: Inflation is coming, but maybe not for a while. – Bernie T. Dear Bill, I think you are talking past the sale. Inflation is a done deal. There is no avoiding it, and it is doubtful that anyone in government wants to. Inflation is the only possible outcome from recent large increases in spending, money supply, and debt. The Fed and the U.S. Treasury may, in fact, try to “manage the yield curve.” They are already discussing that possibility. That will only accelerate inflationary pressures. And many in government believe that inflation will only help the government pay the sovereign debt. After all, that has worked in the past. – Robin F. Meanwhile, another dear reader writes in appreciation of Bill’s writing style, if not his overall outlook… My gosh, you are a good writer… but kind of a pain in the rear. 🙂 Seriously, nice work, great style. I appreciate good writing more than I appreciate a cold bottle of Billy Beer. (I fear you may be too young to understand this reference). At times, you are a nattering nabob of negativism… but in a good way. – Stan W. Do you agree with Bernie, that inflation may still be a ways off? Or do you think the feds are accelerating its arrival in the belief that it is the only way? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=The Future Can Wait). IN CASE YOU MISSED IT… [Millionaire’s New Prediction So Outrageous, We Forced Him to Go On Camera]( Legendary investor Doug Casey just made a MASSIVE gold prediction… It’s so outrageous, we nearly refused to publish it. But then Doug agreed to fly 5,700 miles – from his ranch in Argentina to Aspen, Colorado – to explain everything in this exclusive interview. And what he told us left us all shocked… Our entire office is still talking about it. Doug calls it the ‘most bullish sign he’s seen in 45 years’… And shares his #1 Gold Secret – LIVE on Camera. If you’ve been waiting to profit from this massive gold boom… Now is your chance. [Watch the Interview Now (Doug’s #1 Gold Secret Revealed).]( [image]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. 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