Buy sneakers!

[Bill Bonner’s Diary]( Buy Sneakers! By Bill Bonner Friday, May 7, 2021 [Bill Bonner] YOUGHAL, IRELAND – You’ve heard, of course, of the “greater fool” theory, the strategy in which a buyer pays a foolish price for something, betting that someone else will pay even more. Well, on Monday, it looked like the greatest fool of all had finally shown up at an auction house. Bloomberg’s Matt Levine is on the story: On Monday, Sotheby’s announced it had brokered a $1.8 million sale of Kanye West’s Nike Air Yeezy 1 sneakers, making them the most expensive pair of (known) shoes to sell, ever. But the sneakers weren’t purchased by a footwear-loving collector. Instead, they were acquired by the company Rares, which plans to fractionalize pieces of the shoes as an investment. That’s right. “Investors” are expected to buy shares in the shoes… hoping to sell them to other “investors” at even more lunatic prices. [Featured: Trading Legend Shares His Latest Breakthrough]( Weird and Wacky Question: What’s the return on investment on a pair of used kicks? Answer: No less than on the [40% of the companies traded on the Russell 2000 that are losing money](. So why not? If companies that don’t make money are valuable… why not a pair of shoes? And why not a thing that is no thing at all… an asset that neither toils to make money nor spins in the light of day for the amusement of onlookers? That’s right, whenever you think the greater fool theory has run its race, along comes an even bigger dumbkopf sprinting ahead. The crypto [Dogecoin]( more than doubled over the last week. A year ago, it was worth only $315 million. Now, it has a market value of $80 billion. Even wackier – this weekend, it could go much higher. Tesla CEO Elon Musk will be the host of Saturday Night Live. If he mentions the dodgy coin, it will probably soar (there are a lot of people betting on it). Sic transit bubble mundi. Recommended Link [You Could Be Left Out of the “New American Dream”]( [image]( New radical policies will change the country and “cancel” out right-thinking Americans and all you stand for. It’s as if you don’t exist. You’ll be “banned.” That’s because there’s a new plan for big government to meddle in your savings, retirement, and even dictate the affairs of your house, all under the false flag of “equality.” [Get Full Story Here]( -- Active Shooters Investors are becoming unhinged. The Federal Reserve’s money-printing (over [$7 trillion so far]( this century… now increasing at about $4 billion per DAY) and its negative real interest rates (for most of the last 11 years) are turning them into active shooters, senselessly killing decent wealth and honest capital. And now, the Fed itself is trapped in the theatre… hiding between the seats. Here’s CNBC: Rising asset prices are posing increasing threats to the financial system, the Federal Reserve warned in a report Thursday. Fed Governor Lael Brainard said the situation bears watching and points up the importance of making sure the system has proper safeguards. “Asset prices may be vulnerable to significant declines should risk appetite fall,” the central bank said. Sshh! The Fed has created a bubble – with perhaps $30-$50 trillion in bad, or merely overpriced, “[investments]( The bubble threatens to pop. But the Fed dasn’t raise interest rates – or it will bring itself under fire and trigger the very disaster it has sworn to avoid. The only way to keep the bubble world from popping now is to blow in more air. Then, the bubble gets bigger… and investors become even more deranged. Any dope – even a Federal Reserve governor – can see that this will end badly. But the damage will be much deeper and longer-lasting than most people realize. Recommended Link [Bill Bonner: Shadow-Banned?]( [image]( Have [America’s top booksellers refused to carry Bill Bonner’s final book]( You won’t find new copies of Win-Win or Lose at Barnes & Noble… and not a single copy is floating around on eBay. In fact, the only used copy we could find was going for $79 on Amazon. Which is why Bill recently authorized us to take drastic steps to put a copy in your hands essentially free – as part of this limited time offer. [To claim yours, click here.]( Not Real Investing “Investing” in a pair of sneakers is not the same as building a factory. The investment promoter won’t learn to make precision tools or to finish concrete. No one will ever punch a time clock and go to work in the sneakers. And the “investors” who spend their time studying the “investment” will not be figuring out how to add real wealth by providing more goods and services; they will be subtracting wealth, by allocating scarce capital to dead-end projects. Like it or not, while the Fed’s funny money may be unlimited, the things needed to produce real wealth are not. Time, attention, energy, organization, skill, savings, innovation, intelligence, raw materials, space – if you “invest” them in building pyramids, you get pyramids. Put them to work producing fractionalized sneaker assets… and that’s what you get. Recommended Link [Millionaire’s Big Prediction From Living Room Couch]( [image]( Teeka Tiwari – America’s No. 1 Investor – just made an outrageous prediction. Recorded live from his living room couch… He blasts Congress, reveals nasty truths about America… And reveals one technology set to radically change our nation. Already, 400,000+ viewers have checked it out. WARNING: This video may make you furious. [Watch His Urgent Video Now]( -- Catastrophic Correction Coming And for all the research and theorizing about the rise and fall of civilizations, the basic template is very simple: The more resources (including people and time) that are misspent… the poorer people get. [This week]( we’ve been wondering how the bad investments – caused by the Fed’s numbskull policies – eventually get corrected. “Catastrophically,” is the answer. [Featured: The One Big Threat You Face in 2021]( The elite control the government. The elite benefit from policies that encourage bad investments (because they transfer wealth to the few at the expense of the many). The bad investments continue. In the private sector, at least, the fools are wasting their own money. And the whole show could be corrected quickly – in minutes, after Mr. Market calls the cops. But over in the public sector, it’s the deciders themselves who are on the rampage. Just yesterday came word that Alexandria Ocasio-Cortez (AOC) wants to create a $10 billion taxpayer-funded “Climate Corp.” She says she would recruit some 1.5 million civilian soldiers to battle with Planet Earth. Our planet is heating up, she claims; the new climate warriors will stop it. Everything Ms. AOC wants to do is already being done by dozens of federal programs. But why not another one? If started, the Climate Corp – like the Peace Corps (still in business after more than a half-century of improving the world… with a $410 million budget and not a single volunteer in the field!) – will be with us forever… And as long as the money-printing continues, so will the bad “investments.” We’ll count the bodies later. Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=FUBAR). --------------------------------------------------------------- FEATURED READS [Latest Biden Tax Plan Could Hurt America’s Farmers]( Part of Biden’s latest tax proposal calls for higher taxes for big business and the wealthy. But it also calls for the end of a tax break often used by American farmers to manage their land, or to move into retirement… [The Safe Way to Use Leverage for Big Returns]( In part three of this series, industry veteran Kris Sayce explains Casey Research founder Doug Casey’s investment strategy, the “10 x 10” approach… and shows you how to get big returns on small investments. MAILBAG A dear reader agrees with Bill… that the Paycheck Protection Program was nothing more than another [government boondoggle]( while another points to the absurdities of the feds’ [never-ending “wars”]( As added confirmation of Bill’s thesis, a private company that’s been in business for 120 years received PPP money to the tune of $372,000, even though no employees lost hours or their jobs. The company actually made more money in 2020 than 2019, exclusive of the PPP largesse. The company had no bona fide reason to apply for PPP payments. The principals are all “conservative” Republicans, further proving that corruption and scam initiatives are equally employed by Democrats and Republicans. – FG V. The War on Poverty since the 1960s was fought with conventional wisdom. Today, this same war is fought using an unproven economic policy (Modern Monetary Theory – MMT) that no one can predict whether it will work or not. Apparently, 30% of Americans do not want to get vaccinated because of an unproven “vaccine” technology, but almost 99% of Americans are accepting the unproven theory. MMT might work for some time… but too much for too long could have disastrous consequences. The U.S. administration is definitely not letting a good crisis go to waste. – Hubertus D. Are the U.S. government’s wars now fought with unproven economic theory, as Hubertus believes? Or have the feds always used their unproven theories for their own gains? Write us at feedback@rogueeconomics.com. IN CASE YOU MISSED IT… [The best $19 you’ve ever spent]( Hi, my name is Jeff Clark. For the past 36 years, I’ve helped people from all walks of life how to make money in the markets. Retired stockbrokers... presidents of companies... people with almost no financial experience... and everything in between. But I haven’t done it the usual way… My method is different. It’s unlike anything you’ve probably ever seen before. [We’re unveiling it right now for just $19.]( That’s the lowest price my publisher has EVER offered for a trading research service… And it won’t be available for long. Watch a “10-second live demo” of this method to see how it works. [Watch Now!]( [image]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [The Ultimate Guide to Taking Back Your Privacy]( [image]( [The Gold Investor’s Guide]( [image]( [How to Earn Free Bitcoin]( [Rogue Economincs]( Rogue Economics 55 NE 5th Avenue, Delray Beach, FL 33483 [www.rogueeconomics.com]( [Share]( [FACEBOOK]( [Tweet]( [TWITTER]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. 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