Bill Bonner was one of several excellent speakers I saw this past weekend at an Casey Research investment conference in Las Vegas (I didn't lose any money. Hooray!). I had a chance to meet Mr. Bonner while walking around during a break and he summed up our problems by saying, "We're just spending too much money." Sounds simple enough, but for politicians, it's as complicated as rocket science. Here is an excerpt of his presentation that he posted on his Daily Reckoning website, which is an excellent (and free) daily newsletter on the economy.
An Even Better Trade of the Decade