Where The Risks Are: A Spider Web Of Financial Excess
“Mostly reassuring.”
Search Results for: earnings recession
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?”
Trader: ‘That’s Not A Bond Bear Market’…
“And you would think that this might be bullish for bonds, but no, far from it. A Central Bank that is not willing to invert the curve and take the economic hit from forcing a recession is a bond investor’s nightmare. After all, apart from default, inflation is the absolute worse thing out there.”
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 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.”
I’m Long Stocks And Short Poor People As A Hedge
Of course this “fundamentals-based” excuse will be couched almost entirely in terms of the assumed sugar high from myopic fiscal stimulus and deficit-funded tax cuts.
David Stockman: ‘Goldilocks’ Is A Figment Of Your Imagination
“That was fast.”
David Stockman: Last Week Wasn’t An Error
“Last week’s twin 1,000 point plunges on the Dow were not errors.”
‘Can You Feel The Tension?’ Grab The Scotch, History Says This Correction Could Get Deeper
“Can you feel the tension, in the air right now?”
David Stockman: The Bottom Is Definitely Not In
Flush. Rinse. Repeat. BTFD!
To BTFD Or Not To BTFD, That Is The Question
Opinons vary…
‘It Was The Core Of My Existence’: Yellen’s Farewell Interview With CBS
Ok, I’ll say it: bless her heart.
David Stockman: Now Is Not The Time And Place For Nosebleed PE Multiples
“…the very idea that you would pay 26X EPS for the S&P 500 at the tail end of a 103 month long recovery cycle is truly ludicrous.”
David Stockman: Politicians Should Be ‘Petrified’ Of This
“Even as a matter of economics 101, the forthcoming $1.8 trillion of combined bond supply from the sales of the US Treasury ($1.2 trillion) and the QT-disgorgement of the Fed ($600 billion) is self-evidently enough to monkey-hammer the existing supply/demand balances, and thereby send yields soaring.”
David Stockman: Bubble Finance Is Destroying Rationality
“That’s right. Heisenberg reminds us this morning that we are in undisputable record territory. It has been fully 395 trading days since the market had a 5% drop, and that’s never happened before in all of recorded history.”
Did The Economists ‘Steal Christmas’?
“Such seasonality is truly remarkable and unlike anything we have seen before.”
David Stockman Asks: ‘Dow 25,000, What Could Possibly Go Wrong?’
“…we know of no melt-up that had legs of more than a few months after the point that irrational exuberance went full retard, as is happening at this very moment.”
David Stockman Unveils The ‘Watchword For 2018’: ‘UNHINGED!’
“That refers to Wall Street, Washington, the Dems and the GOP, and all the far and near corners of the planet which are implicated in their collective follies.”
‘How’s Your 401(k)?!’ Trump Accidentally Taunts Low Income Americans With New Slogan
“How’s your 401(k) doing?”
A Truly Contrarian Call
“…it’s about to accelerate. Not only that, the tank is full of gasoline, and the car has been stripped of all the extra weight.”
Booms Don’t Die Of Old Age, They Are ‘Murdered’ By The Fed
“So when you ask what the big risk is, the answer is”…
‘Wolves’: Albert Edwards Returns To Outline The ‘Nightmare Scenario’
“It could happen tomorrow given the extreme expense of US equities and the near universal consensus of a continued acceleration in the economic cycle despite the Fed also in the midst of a tightening cycle.”
As Dimon Shrugs Off ‘Stupid’ Bitcoin Buyers, One Bank Asks: ‘What Is A Bubble?’
“The dot com bubble had the internet. A constant theme of bubbles is the ability of speculators to shout that dreaded cry “this time it’s different.” Logical arguments against the bubble can then be disregarded as speculators declare that the doubters simply do not understand that the world has changed.”
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