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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While You’re Waiting, Can I Interest You In Some Stocks?
So in the meantime…
Good News: We Won’t ‘Spiral Into A Recession’. Bad News: Stocks Could Fall 25%
It’s comforting. Sort of. But sort of not.
Trump Delivers Wild CPAC Speech, Proclaims Himself Greatest President Of All Time
Well, Donald Trump just delivered what might very fairly be described as one of the most unhinged speeches the public has witnessed since his infamous “sons of bitches”/”rocket man” rant in Huntsville.Â
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: Last Week Wasn’t An Error
“Last week’s twin 1,000 point plunges on the Dow were not errors.”
Trump All Set To Worsen Bond Selloff With ‘Bigly’ Budget Boondoggle
He’s apparently going to just go ahead and abandon GOP dogma when it comes to balancing the budget.
David Stockman Bemoans ‘The Night Of Fiscal Infamy’
“We have crossed the fiscal Rubicon.”
David Stockman: Here Comes The Yield Shock
“That’s right. The taxpayers and future generations be damned. Apparently, it doesn’t matter how many small businesses, farmers and entrepreneurs get elbowed out of the capital markets by Uncle Sam’s $1 trillion per year borrowing spree: Mitchels & Chuckles intend to keep the Washington Monument open and the Imperial City’s 3.7 million employees paid in full come hell or high water.”
Donald Trump Says Treasonous Stocks Are Making ‘Big Mistake’ By Selling Off
The “old days” are gone.
Tuesday Humor: Alex Jones Says Stock Plunge Is ‘Deep State’ Conspiracy Against Trump
“Or maybe it is VERY BAD and the markets are finally catching up to the reality that Donald “Art of the Deal†Trump is president.”
Beware ‘Tweet Risk’: Trump Could Attack Fed As Mnuchin Testifies, Analyst Warns
He could “fire back”.
Mideast Stocks Slide As World Markets Respond To Wall Street Rout
“There is selling pressure and profit-taking across the board.â€
David Stockman Presents: The Two Elephants The GOP Has Forgotten
“Indeed, they are the proverbial elephants in the room, thereby giving rise to a considerable irony: To wit, the GOP party of the elephant, which is supposed to be the palladium of financial rectitude in American politics, has forgotten about them completely.”
David Stockman Rips Trump’s ‘Delusional SOTU’
“Donald Trump is walking himself right into a miserable trap. He and his putative “advisors” are apparently so blind to the severe headwinds facing the financial markets and the deep structural impairments plaguing the US economy that they have eagerly embraced a veritable fairy tale.”
David Stockman: ‘Now Comes The Black Swan With An Orange-Colored Hue’
“America’s economy is faltering not from too little infrastructure spending, but from too much debt—-$67 trillion of total public and private debt, to be exact. So it appears that the bond vigilantes are returning from 24 years of hibernation just in the nick of time to put the kibosh on the Trumpite/GOP’s latest hare-brained scheme to balloon the public debt.”
David Stockman Exposes Trump’s ‘Davos Delusions’
“Somehow the Donald managed to say less during his 15 minutes of fame at Davos than even the swamp creatures he abhors might have offered up. But the pity of it is that the whole thrust of what he did say was dead wrong.”
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.”
Robert Shiller Asks: ‘Why Is The U.S. Stock Market So High?’
“This brings us back to the mystery of what’s driving the US stock market higher than all others. It’s not the “Trump effect,†or the effect of the recent cut in the US corporate tax rate. After all, the US has pretty much had the world’s highest CAPE ratio ever since President Barack Obama’s second term began in 2013.”
Here’s Why One Analyst Thinks U.S. Stocks May Be ‘In For A Nasty Surprise’
“Cash is reality”.
‘When Will The Market Peak?’ Investors Push Back Date Of Correction In Begrudging Acknowledgement Of Bullshit Reality
So what do you do if you’re an analyst or a fund manager in this scenario?
David Stockman Delivers Epic Send-Off To Steve Bannon But Warns ‘It’s Way Too Late’
“Bannonism just gave a thin veneer of ersatz nationalism to what was otherwise the Donald’s own dogs’ breakfast of protectionism, nativism, xenophobia, jingoism and strong-man bombast.”
David Stockman: If Michael Wolff Wants To See Some Real Idiots, He Should Look At The People Buying The S&P at 2743
“Yet there is something about Michael Wolff’s tirade that deeply resonates, albeit on the other end of the Acela Corridor. We are referring, of course, to the ‘idiots’ who are buying the S&P 500 at 2735 and earnestly debating the pros and cons of bitcoin at $16,000.”
Some Folks In Japan Were Ready To Buy Some Goddamn Stocks After The Holiday
Throw in a little of Kuroda’s patented Tinker Bell dust and the fact that margined Japanese FX traders are sitting on a ¥3.2trn unrealized gain in Bitcoin, and you’ve got a recipe for … well, for more mania.Â
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.”
Is This The Ultimate Market Irony Of 2017?
“America first?”
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