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.”

David Stockman Presents: A $67 Trillion Nightmare

“To wit, there never would have been a double inverse VIX ETF under a regime of honest money and free market financial discipline; nor would you find European junk bond yields trading inside of US treasuries.”

David Stockman Compares ‘This Time’, To Last Time And It Actually Is ‘Different’

“In that cyclical context, the historic record leaves little doubt about the foolishness of pricing the stock market at peak PE multiples during the final innings of the business cycle.”

David Stockman: ‘You Cannot Build An Entire Economy On Pilates Instructors’

“…they’ve simply deleted the entire industrial economy  from the dashboard.”

David Stockman Presents: The Folly Of 2% Inflation Targeting

“At the end of the day, the real scandal of central banking is that it takes credit for what it doesn’t cause and can’t achieve in the main street economy, while ignoring the mayhem its machinations bring to the financial system.”

David Stockman: ‘Goldilocks’ Is A Figment Of Your Imagination

“That was fast.”