Archive For: November 2017

Page 4 of 6« First...23456

November 14: Daily Contrarian Reads

Read More

No Country For Sgt. Esterhaus

One of the great philosophers of recent times was surely Sgt. Easterhaus of "Hill Street Blues". As he assigned his men to their daily rounds in the crime infested streets of the Big Apple he always ended the precinct's morning call with his signature admonition:

"Let's be carful out there."
That wisdom has been long lost on both ends of the Acela Corridor. In the face of blatant dangers and even existential threats, their denizens whistle past the graveyard with alacrity. So doing, they turn a blind eye on virtually all that contradicts the awesome recovery narrative, the indispensable nation conceit and the Washington can Make America Great Again (MAGA) delusion, among countless other fantasies.

Read More

Chart of the Day: 2017 Gains of FAANGs Plus BATs Exceed Canada's Entire GDP

Read More

November 13: Daily Contrarian Reads

Read More

GE's Comeuppance---Poster Boy For Financial Engineering Run Amok

GE is taking a pounding this morning for cutting its dividend by 50%, and we'd say its about time for both. That is, its unaffordable and unsustainable disgorgement of cash into the stock market should have been drastically curtailed long ago. Likewise, even a quasi-honest stock market would have severely punished the gong show of dumbkopf M&A, financial engineering and crony capitalist sleaze that occurred under former CEO Jeff Immelt's 17 year reign.

Read More

November 10: Daily Contrarian Reads

Read More

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.

Read More

The Gong Show Gets Going

The Donald is on the other side of the earth making nice to the second coming of Mao Zedong rather than slamming the Red Ponzi with a 40% tariff and yanking back millions of American jobs, as he promised during the campaign.

Read More

November 9: Daily Contrarian Reads

Read More

November 8: Daily Contrarian Reads

Read More

Page 4 of 6« First...23456

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.