David Stockman: ‘Goldilocks’ Is A Figment Of Your Imagination
By David Stockman as originally published on Contra Corner and reprinted here with permission
That was fast. Two weeks ago the Goldilocks Economy was being feted (again) from one end of Wall Street to the other. Today, however, January's in-coming data brought a 6.7% annualized CPI rate and a negative 3.1% annualized retail sales print.
Can you say stagflation!
The robo machines certainly did when the Dow futures reversed by more than 400 points hard upon the 8:30 AM releases.
Indeed,
Such a great article. I am becoming more convinced short treasuries still have a long way to go
Although I do agree with him at times, he does seem to forget that Saint Ronnie started the ball rolling during the “me” decade and he didn’t give two shits about the working man. No one should be surprised that personal debt is sky high (one has to pay for his women, booze, and movies) in a society that is hellbent on extracting every last cent before ones passes into the unknown.
Yes, Mr Stockman is trying to make up for his crimes of trickle Down Taxation. At least he’s not being two faced these days.
The real crime of the US economy is hidden in the financial waste that we call GDP. In GDP measure the value of economic activity is all the same whether it’s increased spending on a bloated and out of control health care system or banking activity or jobs based employment.
We are so much worse off as a country than even the Stockman’s of the world believe.
well said.
sb
Certainly DS has had a come to jesus change in his latter years. Those flat wages are right out of his policy groups hovering around St Ronnie and the Frank Luntz 30 second smash crowd, the precursor to the trump tweets of today. That doesn’t make him wrong now and his voice is loud, getting louder and that is good as well. So keep it up DS, I enjoy his snarky calls of bullsh*t.
Trump is leading this republican party right over the cliff and many real conservatives are abandoning the party before the melt down. Ugly is coming and just may be the worst in our history so hold on and stay nimble.