From Bill Bonner, Chairman, Bonner & Partners:

NORMANDY, France – What has happened to TIME magazine?

Henry Luce, who started TIME – the first weekly news magazine in the U.S. – would be appalled to see what it has become.

Vapid, fawning, puerile… sucking up to the rich, the pretentious, the cronies and zombies – it is a journalistic disaster.

Hacks and Has-Beens

What brings on this revulsion is an issue of TIME we found in the airport lounge.

It features a photo of the head of the IMF, Christine Lagarde, on the cover and promises to name the world’s “100 Most Influential People.”

Right from the start, the editors are in trouble. Practically every one of the most “influential” people in the world is a celebrity… a hack… or a has-been.

Ms. Lagarde, for example.

We’re not sure which category she should go into. But since she – like…