| By Bill Bonner, Chairman, Bonner & Partners POITOU, FRANCE – “Racist!” said Nancy Pelosi, pointing the finger at America’s chief executive. “Right back at you,” said he. Blah, blah, blah… | Recommended Link | THE MAN. THE LEGEND. THE RED CHECKBOOK. You’re looking at legendary Silicon Valley venture capitalist Jeff Brown and his famous red checkbook. Together they’ve helped fund over 100 tech startups and been profitable on 95.3% of them. But Jeff got tired of retail investors being locked out of the kinds of gains VCs like him get (upwards of 25,000%!). So he created an entirely new way to invest in the tech market that lets regular folks achieve incredible VC-type gains. So far, it’s uncovered extraordinary gains like 494%… 617%… 793%… 884%… 2,293%… and even 11,764% (often in a matter of months). Jeff just revealed all the details (including three trades to make right now) during his Accelerated Profits Summit. | | | -- | Empty Epithets When you accuse someone of being “pusillanimous,” it has real meaning. As does “ignorant.” Or “vain.” Even “wicked” still has some meaning. But “racist” is now a hollow word. But the whole discussion is so full of empty epithets and silly name-calling, lie piled onto lie… claptrap on claptrap… it’s like a presidential debate! Donald J. Trump: So sad that Elijah Cummings has been able to do so little for the people of Baltimore. Statistically, Baltimore ranks last in almost every major category. Cummings has done nothing but milk Baltimore dry, but the public is getting wise to the bad job that he is doing! Left on their own, the people of Baltimore would go about their business as best they could. But they have Elijah Cummings in Congress and Donald Trump in the White House. Egged on by the former… and following the budget approved by the latter… the government gives out free money to people who don’t work, funds apparatchiks and activists who don’t have any skin in the game, and supports scammy nonprofits who claim to be doing God’s work. Together with their federal predecessors over the last 50 years, they’ve done more harm to West Baltimore than all the angry racists, KKK clowns, and numbskull rednecks put together. Ah… Dear Reader… what a delicious irony. The person who says to the poor, “I don’t like you… I’m not going to help you,” does them more good than the do-gooders. He leaves them alone. The poor get along… do what they can… live as they want… or at least they get what they deserve. The do-gooders, on the other hand, hand out free money… always with strings attached. “If you want it,” they say, “you can have it… as long as you don’t get married, don’t have a job… and don’t stand up straight and try to be independent. “Above all, don’t start thinking for yourself. Stay with us… stay poor… and vote for us; we’ll take care of you.” | Recommended Link | The 5G Timebomb is Ticking Imagine 1.9 billion 5G smartphones shipped in the next five years, overtaking 4G by 2023… 5G will provide users more coverage at a faster rate, making 4G technology obsolete. Silicon Valley tech genius and angel investor Jeff Brown knows which device will provide access to the powerful 5G network… And which company makes it. The race is on for investors… And 5G is a ticking financial timebomb… Unless you know what Jeff knows, you’re going to get left behind. | | | -- | Pretend Battles But you don’t get elected by having a heart that doesn’t bleed. Feigning tears and feeling the voters’ pain are job prerequisites. Like Elijah Cummings, you tell the voters that you are one of them… and that you’re not grandstanding for the cameras; you’re “fighting” for the people. It’s all part of the burlesque of modern public life. Almost no one is on that level. Almost nothing can be taken at face value. Almost everything is a damned lie. Mr. Trump is right; the risk for Cummings is that the public might catch on. But that is the same risk Mr. Trump faces. Mr. Cummings got elected by pretending to do battle for the voters of West Baltimore. Mr. Trump got elected by pretending to fight for the forgotten voters of the heartland. You can see how Mr. Cummings’ hustles work; just take a drive around West Baltimore. You can visit Mr. Trump’s hustles by taking U.S. 95 south to Northern Virginia – home of the military-industrial complex that Eisenhower warned against. The connivance between them was on display last week. Both liberal do-gooders and conservative do-gooders faced a common enemy – a debt ceiling. Its purpose was to protect the public by preventing politicians from bankrupting the nation. But Trump betrayed the fiscal conservatives still hiding in the caves of the Republican Party. He joined Nancy Pelosi to brush aside the debt ceiling and add $1.7 trillion to the U.S. debt. Assuming the deal passes in the Senate, this will bring the total debt added by laws signed by Donald J. Trump to $4.1 trillion. | Recommended Link | How This Millionaire Trader Retired At 42 By Trading 3 Stocks With a single trade, you could make 3x, 5x, and even 10x your money fast. That makes it the perfect vehicle to help jumpstart your retirement. In this special offer, you will discover: Jeff’s proprietary 3-Stock Retirement Plan – the exact type of strategy that helped him retire at 42 How Jeff continues to use it to make tens of thousands of dollars every year Stories from others who have used this strategy to maximize their wealth too And most importantly, you’ll get the names and tickers of the 3 stocks you can use to get started. | | | -- | Road to West Baltimore Also last week, the last-quarter GDP numbers came out, showing that Trump’s claims of 3% growth and the hope of growing our way out of debt were both false. Revised numbers for 2018 showed the U.S. economy growing well below the 3% mark. Federal debt alone is growing twice as fast. Nor has the Trump tax cut provided any lasting benefit to the economy. The numbers reveal an economy very similar to the Obama economy… but worse. Last week’s annualized 2nd-quarter growth rate was barely over 2%. It would have been substantially under 2% had federal spending not increased under the Trump Team. In other words, the economy is barely growing… and what little growth there is has been achieved in the worst possible way – by putting the whole country on the road to West Baltimore. Spending jumped in the least productive segment of the economy, government, while the Federal Reserve funded foolish and wasteful projects – buybacks, WeWork, Beyond Meat, Tesla, and much of the shale oil industry – with cheap borrowing rates. Never before in the history of the U.S. economy has so little growth come at such a high cost. But don’t expect either Cummings or Trump to back off. They’re on the same team; both want even cheaper rates from the Fed… and more federal spending. Here’s The Donald as channeled by USA Today: President Trump apparently won’t be satisfied with the Federal Reserve’s anticipated quarter percentage point interest-rate cut this week, saying the Fed “will do very little by comparison” to Europe and China. In a tweet Monday morning, Trump said, “The E.U. and China will further lower interest rates and pump money into their systems, making it much easier for their manufacturers to sell product. In the meantime, and with very low inflation, our Fed does nothing - and probably will do very little by comparison. Too bad!” More money to the poor. More money to the fixers and do-gooders. More money to the rich, too. The formula for destroying West Baltimore was fairly simple: Undermine the family by giving money to unmarried mothers, undermine fathers by taking away the responsibility to support their children, undermine work by giving money to people who don’t work, undermine authentic community self-help organizations with money for fake government services, and undermine private industry with regulations, minimum wages, taxes, and rules that small, low-cost, marginal businesses can’t afford. It ruined West Baltimore. Will it ruin the whole U.S., too? We’ll find out. Regards, Bill MARKET INSIGHT: A TEXTBOOK EXAMPLE OF AN IPO WE DON’T WANT TO INVEST IN… By Jeff Brown, Chief Technology Analyst, Bonner & Partners Recently, Bill warned readers of the Diary about WeWork. And he’s right. This is a company investors want to steer clear of. WeWork is one of the world’s largest providers of modern shared workspaces. The company leases office space to startups, small businesses, individual consultants, and remote workers. What’s unique is that the focus is less on work and more on social interaction. These workspaces foster a “community-like” environment… And they even provide free beer. I hope some of you are laughing right now – this can’t possibly be a good environment for high productivity, right? A Shared Workspace News just came out that WeWork filed its IPO paperwork in late 2018. We can expect the IPO to happen within the next few months. But as I’ve said before, context is everything when it comes to IPO investing. We must understand the valuation… what’s happening inside the company… and if there are any red flags. WeWork has been loved in the venture capital (VC) world. It’s raised over $10 billion in VC funding since its founding in 2010. As a result, WeWork is reportedly worth $47 billion today. That’s an extraordinary valuation… especially since WeWork is not a tech company. All it does is lease office space and create a nice “atmosphere” for its clients. For perspective, WeWork generated $1.8 billion in revenue last year… And it managed to lose $1.9 billion. That places its enterprise value-to-sales (EV/sales) valuation at 26. That’s a ridiculously high valuation even for a profitable company… It makes no sense for a company that is losing more money than it makes. So WeWork’s valuation alone tells you that investing in its IPO is a guaranteed way to lose your money. But it gets worse… WeWork CEO Adam Neumann has been unloading his own stock in the company since 2014. He has now sold more than $700 million worth of WeWork stock. That suggests that he doesn’t believe that the current valuation is sustainable. Insiders sell when they believe that the company is overvalued and buy when it is undervalued. It would be one thing if Neumann sold a mere $10 million worth of stock to buy a new house… and perhaps a vacation home and a couple of new cars… but $700 million? No way. No smart executive is going to sell $700 million of stock if he knows that the company will double in value in the next year. Smart investors sell when they expect the value of something to drop. So the valuation is awful. The company is bleeding money. The founder is cashing out… And if that weren’t enough, it just came out that Neumann has been buying real estate himself ahead of opening WeWork offices in an area… And, of course, he leased that real estate to the new WeWork locations at favorable terms. Talk about conflict of interest. The bottom line is this… Steer clear of WeWork. It is guaranteed to lose investors a ton of money. This is not an IPO recommendation that we’ll ever see in the pages of The Near Future Report or Exponential Tech Investor… I have a strong preference for making my subscribers money… not losing it. P.S. WeWork is a great example of an early stage company to avoid. But by investing in quality early stage companies, investors stand to make a small fortune. Unfortunately, most investors are locked out of these opportunities. Simply put, it’s a travesty that the insiders have kept all the best tech deals for themselves over the past decade. The VC firms, private equity firms, sovereign wealth funds, and high-net-worth investors have been able to access the best investments over the last 10 years. Meanwhile, regular investors have been excluded from these investment opportunities thanks to the regulations of the Securities and Exchange Commission (SEC). But I recently found a way for everyday investors to gain access to these early stage opportunities without buying pre-IPO shares. It’s a system I’ve perfected over five years. And if you’d like to take part – and see how it could potentially deliver an extra $151K a year, go right here. FEATURED READS The Trump Administration Is Rolling Back Welfare
Yesterday and today, Bill told us why anti-poverty programs don’t exactly work. One particular U.S. welfare program faces blatant abuse. Now, the Trump administration is doing something to fight that… How Negative Interest Rates Ruined Deutsche Bank
Deutsche Bank, once a European powerhouse, is flatlining. Jobs are being slashed. The stock plumbs new lows. Many of the wounds are self-inflicted. But there’s another culprit for the damage: the European Central Bank’s negative rate policy. A Global Currency Revolution
Facebook’s Libra is poised to enter the market as yet another cryptocurrency in an expanding field of digital currencies. The currency revolution is underway… What does that mean for investors – and the future of the U.S. dollar? MAILBAG Today, dear readers weigh in on “the armed wing of the Deep State.” Bill, once upon a time, like 50 years ago, military were considered unemployed. If that applied today, the unemployment figures would not be so rosy. More than $243 million dollars a year provides salaries for the 1.3 million military personnel and their benefits. What if all the military were suddenly dropped into the non-military population? – Larry H. The Republicans (and Trump) are so full of s**t that it’s unbelievable! As you pointed out in your Diary entry about the gold-plated toilets, the military-industrial complex has been ripping the American taxpayers off for trillions of dollars of pork for decades. And most, if not all, of the weapons systems we have had foisted on us are badly designed, poorly built, and undependable. In other words, junk. The Republicans/conservatives wrap themselves in the flag and proclaim their undying patriotism because they support our troops! It’s pretty piss-poor “support” if they’re sending our troops out in the field with inferior weapons systems like the F-35, because they are using the troops as cannon fodder. For the uninitiated, that means that they’re sending them out to die. The Russians build “pure” planes. Their MiGs are pure fighter craft. Fast, nimble, and deadly, they are designed to be the ultimate air-to-air killing machines. Their bombers are pure bombers, sleek and fast. They carry heavy payloads and are intended to reach their targets at speed, bomb them, and race away. America builds fighters/bombers like the F-35 boondoggle. They’re not fast or nimble enough to take on MiG fighters, and they can’t carry a large enough load of conventional bombs to do much harm. Hope and pray to God that we never get in a shooting war with the Russians. I have a feeling that we won’t fare very well. We may outspend them by a factor of ten, or more, but their weapons actually work. – Dale A. Meanwhile, it’s Inflate or Die… and who really wants to die? Bill, Inflate or Die. There is no third alternative. So what are you wailing about? Who wants to die? The dollar’s value kept nearly steady compared to the euro and other major currencies, despite the supposed 90% loss of its value. Why? Because countries around the globe have been mirroring the Fed and government spending, thus neutralizing their effect. It’s all relative. Venezuela, Zimbabwe, or Weimar Germany are or were singular basket cases. That is the difference in my opinion. – Erich K. You and the rest of the financial commentators continually ignore that this mess was acerbated by Ronald Reagan, or as George H.W. Bush called it, “voodoo economics.” Reagan started the country down the path of spending now and paying with cheaper dollars in the future. Trump will continue to spend, just like he did in all of his businesses, until they went broke. Trump is on record as saying “when the bill comes due, I’ll be long gone.” Sounds like Reagan. – Anonymous IN CASE YOU MISSED IT… Last week, Silicon Valley venture capitalist and tech expert Jeff Brown revealed over five years of secret research to investors… He’s discovered a little-known subsector of the tech market that he believes has the potential to be even bigger than “the next Amazon.” Jeff recommended the No. 1 S&P 500 stocks of 2016 and 2018 – so it pays to listen to his investment advice. Did you miss out on Jeff’s Accelerated Profits Summit? Don’t worry. You can watch an exclusive replay here. But don’t delay – this opportunity ends tomorrow night. 
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