Bill Bonner is the Founder and President of Agora Publishing, one of the world's most successful consumer newsletter publishing companies, and the author of The Daily Reckoning. Bill Bonner is also a frequent contributor to Strategic Investment. Bill Bonner is the author, with Addison Wiggin, of the New York Times business best-seller Financial Reckoning Day: Survivng The Soft Depression of The 21st Century.
Bill Bonner writes that it is as if a tidal wave of liquidity has washed over the globe's burgs, metropolises, and hamlets. People have gotten so lucky they think they'll never need to save again.
But woe to the poor traveler who wants to buy anything, unprepared for the prices. Yesterday, the pound sterling hit a 14-year high against the dollar.
The Dow has never been higher than it has been these last few weeks. And last week, the VIX hit a new all-time record low. The record low VIX reading means that investors expect the going to be good forever.
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