Author Archive | David Stockman

Long Live the Bond Vigilantes!

Most of today’s stock speculators don’t remember the bond vigilantes and wouldn’t even recognize one in the flesh. They were just too scary to have been a character on Sesame Street. But last night some strange riders were spotted galloping eastward from China and Japan. While their visage may be somewhat foggy to the uninitiated, the boys and girls on Wall Street are about […]

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Steve Bannon’s Done

Good riddance to Steve Bannon. The last thing America needed was a conservative/populist/statist alternative to the Welfare State/Warfare State/Bailout State status quo. Yet what Bannonism boiled down to was essentially acquiescence to the latter—even as it drove politicization deeper into the sphere of culture, communications and commerce. Stated differently, the heavy hand of the Imperial City in traditional domestic, foreign and financial matters […]

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The Greatest Bubble Ever

During the 40 months after Alan Greenspan’s infamous “irrational exuberance” speech in December 1996, the NASDAQ 100 index rose from 830 to 4585 or by 450%. But the perma-bulls said not to worry: This time is different—-it’s a new age of technology miracles that will change the laws of finance forever. It wasn’t. The market cracked in April 2000 and did not stop […]

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The RussiaGate Witch-Hunt

There was a sinister plot to meddle in the 2016 election, after all. But it was not orchestrated from the Kremlin; it was an entirely homegrown affair conducted from the inner sanctums—the White House, DOJ, the Hoover Building and Langley—-of the Imperial City. Likewise, the perpetrators didn’t speak Russian or write in the Cyrillic script. In fact, […]

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Bubble Finance

Today’s single most dangerous Wall Street meme is that there is no risk of a stock market crash because there is no recession in sight. But that proposition is dead wrong because it’s a relic of your grandfather’s economy. That is, a reasonably functioning capitalist order in which the stock market priced-out company earnings and the underlying […]

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Recommended Viewing


FREE EMERGENCY FOOD!

Feed Your Family for 3-Full Days During Any Disaster.

FREE POP LANTERN!

This is the Coolest Light You’ve Never Seen!

PROTECT CREDIT CARDS

This FREE Card Shields Your Credit Card from Thieves!

 


FREE EVERSTRYKE MATCH!

This Firestarter Will Never, Ever Fail You!

 


Peak Fantasy Time

If you want to know why both Wall Street and Washington are so delusional about America’s baleful economic predicament, just consider this morsel from today’s Wall Street Journal on the purportedly awesome November jobs report. Wages rose just 2.5% from a year earlier in November—near the same lackluster pace maintained since late 2015, despite a much lower unemployment rate. But in […]

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