From Bill Bonner, Chairman, Bonner & Partners:
Look back over the past, with its changing empires that rose and fell, and you can foresee the future, too.
– Marcus Aurelius
BALTIMORE – Nothing new. Same old, same old.
China warned that its corporate debt levels were too high.
Sotto voce, investors might have heard that Chinese debt is in danger of blowing sky high, as companies continue to borrow in order to finance overseas acquisitions.
But it didn’t seem to faze them. Not yesterday. The Dow was up 41 points anyway.
Caesar in the Flesh
Meanwhile, President Obama recently visited Cuba, hoping to be remembered by historians for more than just Obamacare.
And the presidential primaries continued to be a source of amazement and entertainment.
It is not often that we get to use the word “apoplectic.” But this seems to be an occasion for it.
Martin Wolf, chief economics…