Author: David Stockman

Bull’s eye! “They made up a phony collusion with the Russians story, found zero proof, so now they go for obstruction of justice on the phony story. Nice … You are witnessing the single greatest WITCH HUNT in American political history – led by some very bad and conflicted people!” The Donald has never spoken truer words but also has never sunken lower into abject victimhood. Indeed, what is he waiting for—– handcuffs and a perp walk? Just to be clear, “he” doesn’t need to be the passive object of a “WITCH HUNT” by “they”. If Donald Trump had any … Continue reading →

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The horrific shooting spree on the practice field of the GOP’s congressional baseball team happened early in the morning, but it was hardly the end of Wednesday’s madness on the Potomac. As it happened, the former was apparently another random eruption by of one of America’s sicko lone wolves—a wretch in the same league as South Carolina church killer, Dylann Roof. Notwithstanding that the latter had littered the nether regions of the internet with racist rantings while the former was apparently a prolific Never Trumper left-winger, neither represented a real threat to the nation’s equanimity—even if they did bring a … Continue reading →

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Comey’s ballyhooed testimony contains nothing not already known, nothing remotely about obstruction of justice, and, in fact, nothing that matters at all. It’s just a replay of the self-serving tommyrot Comey has been leaking all along. Indeed, it’s the Nothingburger that proves Imperial Washington has become completely unhinged in its groundless RussiaGate hysteria; and is stumbling toward a lawless defenestration of a sitting president in the name of a hypocritical obeisance to a tortured version of “the law”. It is a smoking gun in only one sense: It proves why the sanctimonious Comey should have been fired on day one and why the apparent Wall Street assumption that … Continue reading →

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The realized truth of modern history is crystal clear. Washington had no business intervening in a quarrel between two no-count wanna be dictators (Syngman Rhee and Kim il Sung) on the Korean peninsula in June 1950, and surely has no business still stationing 29,000 American soldiers there 67 years latter. Yet owing to the institutionalized albatross of that mis-vectored history, the world is now much closer to the brink of nuclear war than at any time since the dark days of the early cold war. And the Donald has become just the latest political tourist in the Oval Office to … Continue reading →

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Now that’s more like it. Echoing Donald Trump’s Monday night bull’s-eye regarding the Fed’s thoroughly political essence, Rep. Scott Garrett put more wood to Janet Yellen during yesterday’s hearing: Rep. Scott Garrett, R-N.J., seized Trump’s mantle during Wednesday’s hearing, saying “the Fed has an unacceptable cozy relationship” with the Obama administration and Democrats. “As the saying goes, perception is reality,” Garrett told Yellen. “Whether you like it or not, the public increasingly believes that the Fed’s independence is nothing more than a myth.” Of course, it’s a myth and a dangerous one at that. The truth is, Keynesian monetary central planning is inherently, massively and irremediably “political”. That’s because it interjects … Continue reading →

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My new book has been published and will be officially released on Tuesday. However, preorders for the e-Book version are now available on Amazon and can be obtained by clicking this link: Trumped! A Nation On The Brink Of Ruin… And How To Bring It Back. The central banks have gone so far off the deep-end with financial price manipulation that it is only a matter of time before some astute politician comes after them with all barrels blasting. As a matter of fact, that appears to be exactly what Donald Trump unloaded on bubble vision this morning: By keeping interest rates low, … Continue reading →

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My new book will be published next Tuesday. Preorders for the e-Book version will be available in this space beginning later this week.As I previously indicated, the book is an exploration of how 30 years of Bubble Finance policies at the Fed, feckless interventions abroad and mushrooming Big government and debt at home have brought America to its current ruinous condition.In this context, it delves into the good and bad of the Trump campaign and platform, while, to use a spoiler alert, praising it with faint damn!As Contra Corner readers recognize the only consistent way forward for America at this late stage of the game is a return … Continue reading →

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Ten Great Deals For The Donald But there is a sliver of hope. If Donald Trump is elected, eschews a law and order crusade and does not capitulate to the destructive policies of the Wall Street/Washington/bicoastal establishment, there is a way forward. The political outlaw who considers himself to be the world’s greatest deal-maker would need to do just that. To wit, a President Trump determined to rid the nation of its mutant regime of Bubble Finance at home and failed interventionism abroad would need to make Ten Great Deals. A Peace Deal with Putin for the dismantlement of NATO,  cooperation in the middle east, … Continue reading →

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I am in the throes of finishing a book on the upheaval represented by the Trump candidacy and movement. It is an exploration of how 30 years of Bubble Finance policies at the Fed, feckless interventions abroad and mushrooming Big government and debt at home have brought America to its current ruinous condition. It also delves into the good and bad of the Trump campaign and platform and outlines a more consistent way forward based on free markets, fiscal rectitude, sound money, constitutional liberty, non-intervention abroad, minimalist government at home and decentralized political rule. In order to complete the manuscript on a … Continue reading →

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NOTE TO READERS I am in the throes of finishing a book on the upheaval represented by the Trump candidacy and movement. It is an exploration of how 30 years of Bubble Finance policies at the Fed, feckless interventions abroad and mushrooming Big government and debt at home have brought America to its current ruinous condition. It also delves into the good and bad of the Trump campaign and platform and outlines a more consistent way forward based on free markets, fiscal rectitude, sound money, constitutional liberty, non-intervention abroad, minimalist government at home and decentralized political rule. In order to complete the … Continue reading →

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The Cleveland Fed’s Loretta Mester is a clueless apparatchik and Fed lifer, who joined the system in 1985 fresh out of Barnard and Princeton and has imbibed in its Keynesian groupthink and institutional arrogance ever since. So it’s not surprising that she was out flogging—-albeit down under in Australia—- the next step in the Fed’s rolling coup d’ etat. We’re always assessing tools that we could use,” Mester told the ABC’s AM program. “In the US we’ve done quantitative easing and I think that’s proven to be useful. “So it’s my view that [helicopter money] would be sort of the next step if we ever found ourselves in … Continue reading →

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While we are waiting it might be wondered, however, whether nearly two decades of central bank financial repression have not merely destroyed honest price discovery on Wall Street. Perhaps it has actually extinguished brain function entirely among the corporal’s guard of carbon units that remain. Yes, it is not surprising at all that the robo-machines are now gunning for the 2200 point on the S&P 500 charts. That’s what they do. What defies explanation, however, is that the several dozen humans left on Wall Street who apparently talk to Bob Pisani are actually attempting to rationalize this “breakout” of, well, madness. According to JPMorgan’s latest thoughts, for example, it’s all explained by … Continue reading →

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Ben Bernanke is one of the most dangerous men walking the planet. In this age of central bank domination of economic life, he is surely the pied piper of monetary ruin. At least since 2002 he has been talking about “helicopter money” as if a notion which is pure economic quackery actually had some legitimate basis. But strip away the pseudo-scientific jargon, and it amounts to monetization of the public debt—–the very oldest form of something for nothing economics. Back then, of course, Ben’s jabbering about helicopter money was taken to be some sort of theoretical metaphor about the ultimate powers of central bankers, and especially … Continue reading →

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Nearly everywhere on the planet, the giant financial bubbles created by the central banks during the last two decades are fracturing. The latest examples are the crashing bank stocks in Italy and elsewhere in Europe and the sudden trading suspensions by three UK commercial property funds. If this is beginning to sound like August 2007 that’s because it is. And the denials from the casino operators are coming in just as thick and fast. Back then, the perma-bulls were out in full force peddling what can be called the “one-off” bromide. That is, evidence of a brewing storm was spun as just a few isolated mistakes that had no … Continue reading →

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The Eccles Building trotted out Vice-Chairman Stanley Fischer this morning. Apparently his task was to explain to any headline reading algos still tracking bubblevision that things are looking up for the US economy again and that Brexit won’t hurt much on the domestic front. As he told his fawning CNBC hostess:  “First of all, the U.S. economy since the very bad data we got in May on employment has done pretty well. Most of the incoming data looked good,” Fischer said. “Now, you can’t make a whole story out of a month and a half of data, but this is looking better than a tad before.” You … Continue reading →

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