Archive For: July 2014

Page 1 of 2312345...1020...Last »

Re Yellen's "Noisy" Inflation: Electricity Prices Hit All-Time High

For the first time ever, the average price for a kilowatt hour (KWH) of electricity in the United States has broken through the 14-cent mark, climbing to a record 14.3 cents in June

Read More

The West's Reckless Rush Towards War with Russia

For reasons that have no rational explanations at this time, the US and Europe have embarked on a concerted program to demonize Putin, ostracize Russia, and bring the world as close to a major conflict as it's been since the Cold War....

Read More

More Cowbell Please----The Central Bankers' Monetary Delusion

We believe that global monetary policy is currently extremely dangerous, that the financial system continues to be opaque and overleveraged, that major financial institutions are still essentially dependent on government guarantees to protect them if there is a renewed financial crisis, and that an abrupt shake-up could occur at any time.

Read More

America's Built-In Greek Fiscal Future

Of course, we’ll never reach that level. We will suffer a fiscal crisis before that point. But when it happens to us, the IMF won’t be there to bail us out for the simple reason that the IMF’s credibility is based on the backing of American taxpayers.

Read More

Inside The Q2 GDP Print: A Floundering Economy Still

Following up with some more detail on yesterday’s GDP euphoria, a closer examination reveals that not much has changed beneath the headline refiguring. Again, I highly doubt the 3.9% (plus some rounding) survives further estimations, but that really doesn’t much matter at this point. Whether it ultimately arrives at 5% or 2% won’t change the [...]

Read More

French Socialism Scores Again: Housing Meltdown Due To Rent Controls

French President Francois Hollande’s government may have made a housing slump worse, pushing the construction market to its lowest in more than 15 years...

Read More

The Chicago PMI Plunge: Is Inventory Liquidation Lurking Just Ahead?

I normally do everything I can to avoid sentiment surveys, like the Chicago PMI (the Chicago Business Barometer to be specific), because they really are misleading without exact context. However, any large move like the one in July should bring at least some interest since outlier events are often the most informative. What may be [...]

Read More

Why The Global Bubble Is Fracturing: After Monetizing Debt At $3 Trillion Annual Rates, Central Banks Have Sharply Slowed Their Printing Presses

The spigot of global reserve stimulus is slowing to a trickle. The world's central banks have cut their purchases of foreign bonds by two-thirds since late last year.

Read More

No Tears For Argentina----But A Swift Kick To The Greenspan Fed Is Warranted

Argentina has (apparently) defaulted again. This is the seventh time in its history, but no tears are warranted. For more than a half-century, its government has been a chronic fount of fiscal profligacy and statist economic schemes that have destroyed its once fabulous national wealth.

Read More

Central Bank Induced Substitution Of Debt for Income Is Not Success--It's Failure on an Epic Scale

The Fed's substitution of debt for income has only doomed the nation to a deeper, more painful realignment of real income and expenses.

Read More

Page 1 of 2312345...1020...Last »

David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.

Get Access