Man for All Seasons

It is rare for a decent man to seek public office. He is ashamed of pandering. He is embarrassed by the stupidity of his own slogans. He is appalled by the low-lifes and quasi criminals with whom he must associate and from whom he must beg support.

Bill Bonner on the US election. The entire article is worth a read and a laugh.

Misunderstanding Capitalism

Everybody wants wealth, power and status. (The rich are just better at it.)

They want to get it in the easiest possible way.

And the easiest way is to take it away from someone else.

That’s what government does. It allows the rich to get rich...supporting their stocks and real estate holdings with artificially low rates and expandable paper money. Then, when the rich go too far, it bails them out with even lower rates and even more ersatz paper money. The rich get their dividends; the politicians get their sinecures and campaign contributions; the middle classes lose their jobs, their houses, and their standards of living.

The masses never even try to figure this out. They only know that the game is rigged against them...and they get angry.

Bill Bonner on Misunderstanding Capitalism