Historical Archives

Page 795 of 796« First...102030...792793794795796

The Disastrous 40-Year Debt Supercycle

Recently: The Emperor Is Naked: DavidStockman The next Casey Research Summit, cohosted by Sprott, Inc. and titled Navigating the Politicized Economy, will feature another former White House official who is speaking out against irresponsible government spending: David Walker, the United States Comptroller General from 1998 to 2008. Joining him will be a blue-ribbon panel of other financial experts, including top market strategist Donald Coxe, legendary bond investor Lacy Hunt, and investing legends Doug Casey, Rick Rule, and Eric Sprott… and that’s just for openers. Together, they’ll help you understand where our politicized economy is today, where it’s going, and how … Continue reading

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David Stockman’s Investing Model Is ABCD

The Gold Report Recently: David Stockman on Crony Socialism       A "paralyzed" Federal Reserve Bank, in its "final days," held hostage by Wall Street "robots" trading in markets that are "artificially medicated" are just a few of the bleak observations shared by David Stockman, former Republican U.S. Congressman and director of the Office of Management and Budget. He is also a founding partner of Heartland Industrial Partners and the author of The Triumph of Politics: Why Reagan’s Revolution Failed and the soon-to-be released The Great Deformation: How Crony Capitalism Corrupts Free Markets and Democracy. The Gold Report caught … Continue reading

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Crony Socialism

Recently: David Stockman on Mitt, Newt and CronyCapitalism Author and former OMB director David Stockman sits down with the Daily Ticker to explain Obama’s latest election year scheme to give re-fi’s to select underwater mortgage holders. It’s nothing but another bailout for JP Morgan, Wells Fargo, and other big underwriters of 2nd mortgages and home equity loans, since ultimately these ‘homeowners’ are going to default. This is where 40 years of government meddling in the housing market has gotten us. This scam is all about wealth redistribution and is the worst kind of crony socialism, says Stockman. (6:31) Former Congressman … Continue reading

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Mitt, Newt, and Crony Corporatism

Recently: David Stockman on Crony Capitalism Former Ronald Reagan OMB director David Stockman joined us on The Dylan Ratigan Show today to explain explicitly why both Mitt Romney and Newt Gingrich are incredible offenders and beneficiaries of corporate communism or, as he likes to call it, “crony capitalism.” He specifically laid out the atrocious track record that is displayed by Mitt Romney and Bain Capital’s ability to make hundreds of millions of dollars on leveraged buyouts (just to name one illustrative example: buying and selling the Yellow Pages from the Italian government.) The most important thing about the Stockman indictment … Continue reading

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Our Corporatist Masters

Recently by David Stockman: The Case for the Gold Standard BILL MOYERS: Welcome. This week we’re continuing our exploration of Winner-Take-All Politics: How Washington Made the Rich Richer and Turned its Back on the Middle Class. If you missed our first installment, you’ll find it at our website, BillMoyers.com. Now this is only the second broadcast of our new series, yet we’ve already made our choice for the best headline of the month. Here it is: "Citigroup Replaces JPMorgan as White House Chief of Staff." Behind that headline is a tangled web. The new chief of staff is Jack Lew. … Continue reading

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Want To Regulate Government-Wall Street Greed?

Recently by David Stockman: Crony Capitalism Strikes Again       This talk was delivered at the New York Historical Society on May 8, 2011. It took 200 years to build and perfect the classic gold standard system; then it was destroyed in about seven weeks when the Guns of August 1914 thundered across Europe; and now I am allotted seven minutes to resurrect it. Fortunately, Churchill's defense of democracy also applies to the daunting task at hand: To wit, the classic gold standard is the worst possible monetary system — except for all of the alternative inflation-generating, savings-destroying, debt-breeding, … Continue reading

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Crony Fascism Strikes Again

Recently by David Stockman: Why Deficits Do Matter       Someone has to stop the Fed before it crushes what remains of America’s main street economy. Last Friday morning alone it launched two more financial sector pumping operations which will harm the real economy, even as these actions juice Wall Street’s speculative humors. First, joining the central banking cartels’ market rigging operation in support of the yen, the Fed helped bail out carry traders from a savage short-covering squeeze. Then, green lighting the big banks for another go-round of the dividend and share-buyback scam, it handsomely rewarded options traders … Continue reading

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A Violent Dollar Sell-Off

Recently by David Stockman: Warren Buffett’s Humbug       The Henry Hazlitt Memorial Lecture at the 2011 Austrian Scholars Conference. The Triumph of Crony Capitalism occurred on October 3rd 2008. The event was the enactment of TARP — the single greatest economic policy abomination since the 1930s or perhaps ever. Like most other quantum leaps in statist intervention, the Wall Street bailout was justified as a last resort exercise in breaking the rules to save the system. In the immortal words of George W. Bush, our most economically befuddled President since FDR, "I've abandoned free market principles in order … Continue reading

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Warren Buffett Is Glad To Have Your Money

Recently by David Stockman: Our Failed National Economy       If Warren Buffett wants to tarnish his golden years emitting the gushing drivel that appears in today’s New York Times, he has undoubtedly earned the privilege. But even ex cathedra pronouncements by the Oracle of Omaha are not exempt from the test of factual accuracy. Specifically, his claim that “many of our largest industrial companies, dependent upon commercial paper financing that had disappeared, were weeks away from exhausting their cash resources” is unadulterated urban legend. Nothing remotely close to this ever happened. The fact is, there was about $2 … Continue reading

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Our Failed National Economy

      Tuesday night’s election result was a victory for deep partisan stalemate, polarization, dysfunction, and acrimony throughout the halls of government. The market badly wanted a Republican victory, and sometimes you get what you wish for. Unfortunately, Mr. Market’s innocent dreams of a more “business friendly” government will turn out to be a nightmare of fiscal profligacy on a scale that’s virtually unprecedented in modern history. It’s now guaranteed that the hapless soul who succeeds to the White House in January 2013 will preside over a nation with $15 trillion of reported public debt, that is, debt at … Continue reading

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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.

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