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.
As the boom goes on, more and more people think the bust will never come - that's just the way it works too. And they begin to develop ideas, theories, and illusions that support their perpetual boom longings.
The dollar is backed only by full faith in America’s faithless central bankers, who have not only wiped out half the dollar’s value in the last 20 years, but the credit of the world’s biggest debtor as well. What is the greenback worth? No one really knows.
When stocks begin a major bull market, the old-timers like to say they "climb a wall of worry." Why is that? Because when investments are ready to rise in a serious way, they have to be cheap to start with. And when they're cheap, investors worry that they will get cheaper.
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