| By Bill Bonner Monday, February 8, 2021 A cigarette that bears a lipstick’s traces An airline ticket to romantic places – These Foolish Things by Ella Fitzgerald and Louis Armstrong RANCHO SANTANA, NICARAGUA – This morning, walking on the beach by our house, we passed a couple of Nicaraguans fishing. They swing their hooks like David about to slay Goliath, throwing them as far out into the sea as they can, and then gently pulling them back to shore. At 7 a.m., there was a handful of people getting some morning exercise, as we were. None were wearing face masks. A woman in a large, floppy hat, carrying a small lap dog, smiled warmly. We also came upon the happiest dogs we have ever seen. Two Labradors and one small, white dog of uncertain parentage raced across the sand and plunged into the surf… Then, coming out, they shook the water off… and did it again. Over and over… until their tongues were hanging out. Playa Los Perros at sunrise Ticket to Misery Yes, Dear Reader, we finally got here. (To remind dear readers, we have traveled to Rancho Santana in Nicaragua. We usually spend some time here at this time of year.) But there are few cigarettes with lipstick traces… and none in the airport. They’re banned. As for airline tickets… they no longer conjure up images of happy times in romantic places. They are tickets to misery… standing in line, while dogs sniff you and TSA goons yell at you. Then, after they rifle through your luggage, put you through the X-ray machine, and certify that you’re not likely to hijack the plane, you can put your face mask back on and get on the plane. And don’t forget your COVID test! Remember, it must be taken no less than 36 hours before takeoff and no more than 72. Nothing very romantic about the trip… or your destination. No lingering in cafes… no cozy nightclubs… restaurants are likely to be closed… and keep six feet away from every other living soul, lest you infect the whole planet and we all die. Run for Shelter But we interrupt our travel commentary to bring you an important news flash. Bloomberg reports: Global Markets See Inflation Breaking Out to Multi-Year Highs Global markets from U.S. and European bonds to stocks and oil are sending a clear signal: inflation is finally coming back. Thirty-year Treasury yields topped 2% for the first time in a year and the market-implied pace of U.S. consumer-price increases accelerated to the fastest since 2014, as rising expectations for an economic recovery fueled an oil rally. Across the Atlantic, a swap-market gauge of future inflation is close to its highest level since 2019, while U.K. government bonds continued their rout, with 10-year yields rising for a fifth day. Is it true? Is this it? The 40-year trend towards low inflation and low yields… is it finally reversing? Are these early reports like the first sightings of Viking ships off the coast? Is it time to run for shelter? Maybe. [Featured: Firm That Predicted 9/11 Issues Urgent Warning: Move Your Money Now] Jolly Time Returning to our story… Last night, a crowd gathered in the clubhouse. A large screen had been placed at the end of the room so people could watch the Super Bowl. It was billed as a contest of youth and energy against age and skill. We know which side we were on. We walked in wearing a face mask. “Hey, Bill,” came a greeting. “You must have just gotten here. People come down from the U.S. They wear a mask… But after a couple days, nobody wears a mask here. We’re all outside… and if there are any germs here, the wind blows them out to sea.” With or without an offshore breeze, all we know is that you can correlate the coronavirus death rates to age, obesity, diabetes, and heart/lung issues. But not to mask-wearing. And last night’s gathering – complete with yelling and cheering – seemed like a return to “normal”… and a jolly time for everyone… Another War But today, people are afraid. Twenty years ago, a “war on terrorism” had a similar effect on popular psychology. Terrorists posed little threat to the nation or to its citizens. But if you questioned the “war on terror,” it was as if you had blown up the World Trade Center yourself. Two decades later, we still go through the security checks… and notices still tell travelers who “see something” to “say something.” Has anyone ever said anything worth listening to? Has a single life been saved thanks to these measures? No one knows… Probably not. Like terrorist groups, the coronavirus evolves, mutates… One strain is neutralized… another rises to take its place. The “war” against it can go on for years… or until the next bogeyman comes along. And perhaps it already has. With the vaccine set to win the war against the coronavirus, along comes a new cockeyed war, this time against “domestic terrorism,” whatever that is. From The Washington Post: Bipartisan support emerges for domestic-terror bills as experts warn threat may last ‘10 to 20 years’ Great… just what we need. Another way to give the feds more money and more power. [Featured: The #1 Tech Stock of 2021] Risky Journey So what’s life like in Nicaragua these days? Coming from the airport, we asked our driver… “Terrible. Lots of people without jobs. We were just building up our tourism industry and then this coronavirus came along. Of course, it doesn’t help that Nicaragua is on the list of places for Americans to avoid. “We have a very authoritarian government here. No demonstrations are allowed. If you protest, they put you in jail. And our jails are among the worst in the world. “On the other hand, they’re building a lot of roads.” The road from Managua Airport to the Pan-American Highway was newly paved since our last visit. It should have been a nice drive. But people here are undisciplined… or perhaps just unused to high-speed traffic. Even after dark, they ride their bicycles in the middle of the road… carry on conversations… wander, sometimes drunk, onto the highway. Some trucks and cars inch along, belching smoke. Others race… often making daredevil moves against the oncoming lights in order to get around the slow pokes. After two hours of non-stop risk-taking, we got to our destination: Rancho Santana. | Recommended Link | Available Now: New Retirement Blueprint from America's Most Trusted Options Trader For the past 36 years, Jeff Clark has helped people retire wealthy… But he hasn't done it the usual way. He uses options. Options probably seem risky. Reckless, even. But his options strategy is different – unlike anything you've probably seen before. It helped him retire at 42. And thousands of others have used it to make $10,000… $100,000… even $1 million or more – in some rare cases. Which is why he's offering his never-before-released blueprint… and a year of his guidance… for just $19. | | | - | Life Goes On We had reserved a table at the restaurant, expecting to find no one there. But the place was lively – not packed, but respectably filled with tourists and residents. The U.S. government tries to discourage them from coming. The health authorities try to scare them into staying home. The airlines make it difficult for them. The TSA makes it unpleasant. And the Nicaraguan government puts out no “welcome mat”… But still, they come. Families… children… and grandparents. Americans. Canadians. Europeans. Latin Americans. All enjoying themselves. Life goes on! More to come… Regards, Bill
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U.S. Treasury Secretary Janet Yellen believes the U.S. will get back to full employment by next year, if the White House’s proposed $1.9 trillion coronavirus relief package is agreed. Otherwise, unemployment could remain high for years. MAILBAG One dear reader writes in response to Friday’s Diary, Fear and Loathing in Miami… $200? Cash? Sir, you must know you were taken advantage of. Here around Sarasota, and right next to the airport, are 10-minute lines you can get in, for free, rapid test emailed in an hour, the other in 2-3 days. And you are sadly right – nobody smiles anymore. One’s good nature is wasted in today’s confused landscape. What have we gained in all this techno-wizardry? Simple. Everything is impersonal and quick, civility is a lost art, and we are the poorer for it. – Michael C. Meanwhile, another writes with their theory on the declining IQ levels Bill wrote about in Thursday’s Diary, Dumbing Down… Let me quote Professor Sowell, “The problem isn’t that Johnny can’t read. The problem isn’t even that Johnny can’t think. The problem is that Johnny doesn’t know what thinking is; he confuses it with feeling.” I believe that we have the most athletic and ambidextrous politicians we have ever seen. They can put their foot in their mouth and have their head up their backsides at the same time. – Sam E. And finally, this reader questions the governments’ decision-making… I do believe our government (both sides have been competing with one another to curry votes) has made terrible decisions that are leading us towards an abyss. It’s baffling that they are consistently willing to do so when they are a part of this country… perhaps because their only interest is power, and they are too old to live with the consequences of their actions. I was stunned reading, I believe it was Pelosi's quote on the latest trillion-plus stimulus, that “even those who haven’t lost their jobs need this money.” Excuse me? Why? I’ve been fortunate to be on Social Security during COVID and have had no problem living on this money. I don’t need a stimulus check. I live within my means, although who knows what the future holds when the U.S. dollar is no longer the favored world currency. Again, thank you for sharing your adventures and world view. Whether I agree or not, I look forward to reading your newsletters with my morning coffee. – Roberta C. Have you any experiences of traveling during the COVID-19 pandemic? And do you think the government’s financial stimulus is too generous, as Roberta believes? Write us at feedback@rogueeconomics.com. IN CASE YOU MISSED IT… "Sorry, U.S. taxpayer." Those are the exact words of the former U.S. government official at the epicenter of a terrible mistake. This mistake is already destroying the lives of millions. Wealthy elites – including former President Trump… Barack Obama… Bill Gates – all look to be moving into position to avoid the fallout. Click here to learn what they're doing – and how you can stay safe yourself. 
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