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The Real Bleep-Hole Moment—–$40 Trillion And Counting
The Real Bleep-Hole Moment—–$40 Trillion And Counting You can call it the bleep-hole moment (per the Fox “family channel”) or the shit-hole moment (per the rest of the MSM), but what you can’t call yesterday’s contretemps in the White House is evidence that sentient adults are in charge of the Imperial City. And, no, we are not getting down on the […]
Unhinged, Part 1: The GOP’s Fiscal Madness
Unhinged, Part 1: The GOP’s Fiscal Madness The watchword for 2018 is: 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. The latter begins with the fact that Imperial Washington has become so dysfunctional that the most powerful […]
The Greatest Bubble Ever: Why You Better Believe It, Part 2
The Greatest Bubble Ever: Why You Better Believe It, Part 2 During the 40 months after Alan Greenspan’s infamous “irrational exuberance” speech in December 1996, the NASDAQ 100 index rose from 830 to 4585 or by 450%. But the perma-bulls said not to worry: This time is different—-it’s a new age of technology miracles that will change the laws […]
The Greatest Bubble Ever: Why You Better Believe It, Part 1
The Greatest Bubble Ever: Why You Better Believe It, Part 1 During the 40 months after Alan Greenspan’s infamous “irrational exuberance” speech in December 1996, the NASDAQ 100 index rose from 830 to 4585 or by 450%. But the perma-bulls said not to worry: This time is different—-it’s a new age of technology miracles that will change the laws […]
Gold Only Safe Asset Left – David Stockman
Gold Only Safe Asset Left – David Stockman Record high stock and bond prices are flashing danger signs to former Reagan White House Budget Director David Stockman. Stockman contends, “I don’t think we are going to have a liquidity crisis. I think it’s going to be a value reset. I think there is going to […]
Peak Fantasy Time
Peak Fantasy Time If you want to know why both Wall Street and Washington are so delusional about America’s baleful economic predicament, just consider this morsel from today’s Wall Street Journal on the purportedly awesome November jobs report. Wages rose just 2.5% from a year earlier in November—near the same lackluster pace maintained since late 2015, despite a […]
Mind the Junk—-This Ain’t Your Grandfather’s Capitalism
Mind the Junk—-This Ain’t Your Grandfather’s Capitalism The financial system is loaded with anomalies, deformations and mispricings—-outcomes which would never occur on an honest free market. For example, the junk bond yield at just 2% in Europe is now below that of the “risk-free” US treasury bond owing solely to the depredations of the ECB. Indeed, madman Draghi has […]
Yawning Debt Trap Proves the Great Recession is Still On
Yawning Debt Trap Proves the Great Recession is Still On While David Stockman stated early this year with resolute certainty that the debt ceiling debate would blow congress up and send the nation reeling over the financial precipice, I avoided jumping on the debt-ceiling bandwagon. While I was convinced major rifts in the economy would […]
The Deep State’s Bogus ‘Iranian Threat’
The Deep State’s Bogus ‘Iranian Threat’ Yesterday we identified a permanent fiscal crisis as one of the quadruple witching forces arising in October 2017 which will shatter the global financial bubble. Today the Donald is on the cusp of making the crisis dramatically worse by decertifying the Iranian nuke deal, thereby reinforcing another false narrative that enables the $1 […]
Can Kicking Time In The Imperial City
Can Kicking Time In The Imperial City You have to hand it to the Donald. He speaks his mind. This week he dropped an unwelcome stink bomb on Capitol Hill during his Phoenix rant Tuesday night. If Mexico won’t pay for my wall, he seemed to say, than Congress will—-even if I have to shutdown […]
The Goldman Sachs Regency
The Goldman Sachs Regency There’s not many tears being shed over Steve Bannon’s departure. His ethno-nationalist and protectionist worldview are opposite to true notions of liberty, free markets and a minimalist state. While Bannonism presented itself as a coherent alternative ideology to mainstream Big Government, it actually boiled down to an incoherent potpourri of cultural […]
Don’t Forget About The Red Swan
Don’t Forget About The Red Swan [Urgent Note: The nation’s future and a massive debt ceiling hangs in the balance as Trump pushes beyond the Comey hearings. That’s why I’m on a mission to send my new book TRUMPED! A Nation on the Brink of Ruin… and How to Bring It Back to every American who responds, absolutely […]
Peak Bull: Fake Economy, and Fake News
Peak Bull: Fake Economy, and Fake News [Urgent Note: David Stockman warns that the nation’s economy and a massive debt ceiling hangs in the balance as Wall Street’s peak bull stocks carry on. The economist is on a mission to send his new book TRUMPED! A Nation on the Brink of Ruin… and How to Bring […]
Derangement And Danger On The Potomac
Derangement And Danger On The Potomac The horrific shooting spree on the practice field of the GOP’s congressional baseball team happened early yesterday 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 — […]
Why The Markets Are Overdue For A Gigantic Bust
r.classen/Shutterstock Why The Markets Are Overdue For A Gigantic Bust It’s just not possible to print our way to prosperity Let me begin with a caveat: confirmation bias is an ever-present risk for an analyst such as myself. If you’re not familiar with the term, ‘confirmation bias’ suggests that once we’ve invested time and emotional […]
