“Is there any evidence that the microscopic variance between 1.9% and 2.3% inflation on the PCE deflator makes any difference to the performance and prosperity of the main street economy?”
Category: David Stockman
David Stockman Is Not Impressed With Ronald McDonald
“Needless to say, you can’t capitalize those types of gains because they are non-recurring and non-sustainable.”
David Stockman Says This Cycle Is An Octogenarian – At Least
“…like in the case of an aging human, where weakened defenses and impaired resilience cause it to succumb to infections and other exogenous threats, the main street economy is exceedingly vulnerable.”
David Stockman Weighs In On Amazon’s Quarter, Calls Bezos A ‘Shark Jockey’
“There are only so many malls to destroy.”
David Stockman On Subprime, WeWork And Beer Goggles
“Between the March 2009 bottom and the January 2018 peak, of course, they were essentially buying the dips—-about 50 of them with material dimension. The short-run narrative constantly changed—low interest rates, escape velocity ahead, synchronous global reflation, Goldilocks once more—-but the mechanic was always the same.”
David Stockman: Trump Is ‘Piling One Delusion Upon Another’
“Stated differently, the Orange Comb-Over is definitely not making America Great Again.”
David Stockman Weighs In On 10Y Yields At 3%
“In a word, honest bond yields will knock the stuffings out of the mainstream fairy tale that passes for economic and financial reality.”
David Stockman: It’s A Matter Of Time Before Trump Attacks The Fed
“Indeed, the Donald’s impending attack on the purported sacred ‘independence’ of the Fed is the Orange Swan that looms over the casino.”
David Stockman: ‘There Has Been No Acceleration Of Main Street Under Trump’
“In effect, the Donald is taking credit for the doings of the plain old business cycle, and at the worst possible time.”
David Stockman: These Are ‘The Delusions Of MAGA’
“The Donald is not leading America to the promised land. Instead, he’s leading it to war abroad, fiscal and economic calamity at home and a crisis of governance that pales Watergate into insignificance.”
David Stockman: Forget The FBI, This Is The ‘Real Raiding Party’
“While the FBI was raiding the offices of Trump’s lawyer yesterday afternoon, the CBO published a blockbuster report evidencing the Donald’s own raiding party.”
David Stockman Presents: The Revenge Of Bad Money
“At length, you get Donald Trump instead, and you get his half-baked advisor, Peter Navarro, on bubblevision explaining that protectionism is the new route to free trade.”
David Stockman: ‘This Is Not Your Grandfather’s Trade War’
“But, alas, the ‘foolish or incompetent people’ skewered in the Donald’s 7:22 AM tweet are not some defunct Commerce Department or USTR officials from bygone times.”
David Stockman On Tesla, Trump, And ‘Crazy Time’
“That amounts to 156 months without a recession in the face of a guaranteed bond shock that will take the 10-year benchmark yield to 4.00% and beyond.”
David Stockman: The 200-DMA Ain’t No Maginot Line
“But here’s the thing. The blue line below ain’t no Maginot Line.”
David Stockman: ‘There Isn’t A Snowball’s Chance In Hell That A Yield Shock Can Be Averted’
“For the past 30 years fiscal deficits have been a big financial nothingburger because the Fed and other central banks gutted their sting.”
David Stockman: Trump ‘Embodies A Trifecta Of Fiscal Impulses That Amounts To Pure Madness’
“Then again, you haven’t seen nothin’ yet.”
David Stockman: ‘Kudlow’s Job Is To Dig Through A Pile Of Horse Manure And Find Trump A Pony’
“That’s because his newly appointed task will be to dig through Ronald Reagan’s proverbial room full of horse manure to reassure the Donald that there is a pony in there somewhere.”
R.I.P. Goldilocks
“One of Wall Street’s most misbegotten memes is the Goldilocks Economy notion. They invariably trot her out near the end of a business cycle in order to keep the mullets buying stocks and the Fed heads as anesthetized as possible.”
David Stockman: ‘Trump Is Pointing At The Wrong Bureaucrats’
“But two things are absolutely clear about the “why” of this $15 trillion calamity. To wit, it was not caused by some mysterious loss of capitalist enterprise and energy on America’s main street economy since 1975. Nor was it caused—contrary to the Donald’s simple-minded blather—by bad trade deals and stupid people at the USTR and Commerce Department.”
David Stockman: We’re All Just ‘Waiting For The Pin’
“…meaning that the morning after is going to bring a truly hellacious hangover.”
David Stockman: This Is ‘The Rigor Mortis Of A Dead Bull’
“…what more evidence do you need that the financial markets are completely uncoupled from reality and that these feeble bounces between the 50-day and 20-day chart points are essentially the rigor mortis of a dead bull?”
David Stockman: ‘Hey Donald, There’s A Problem, But It’s Not What You Think It Is’
“The global trading system’s newly activated one-man wrecking crew was at it over the weekend.”
David Stockman: ‘The Trump Tariffs Will Send Economic Harm Cascading Downstream’
“Needless to say, the Donald’s un-varnished, un-vetted and un-shackled thoughts whims on most any topic are a thing of considerable disruptive potential. But when it comes to trade, his mind beats to the sound of a drummer not from this world or even possibly the next.”
David Stockman Presents: The Truman Show
“The younger of the anchors (age 32) thought the $1.8 trillion was not a problem because the soaring debt and the Fed’s balance sheet shrinkage plan have been well telegraphed and will shock no one. Yes, and as we were tempted to reply, parking on a rail crossing and knowing that a freight train is barreling down the tracks is not likely to forestall the carnage.”
David Stockman To CNBC: ‘That Was Just Janet Yellen In Trousers And A Tie’
“The Donald seems to think that the 37% gain in the stock market between election day and the January 26th high was all about him, and in one sense that’s true. Donald Trump is all about delusional and so are the casino punters.”
David Stockman: Amazon Is ‘The Poster Child For The 11th Hour Mania’
“The historic relationship between trends on main street and Wall Street to go absolutely haywire.”
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