Stockman's Corner

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Here Come The Big Spenders----Fiscal Bloodbath Dead Ahead

On the Neil Cavuto Show yesterday we summed up our outlook for the Trump Administration: Lots of hope, zero faith.

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The Greenspan Chronicles, Part 4: Why Capitalist Prosperity It Dying

In Part 3 we demonstrated that the essence of Greenspan's policy was to make up for the loss of middle class income and jobs caused by domestic inflation and off-shoring by encouraging households to hock their castles with more and more debt. This was otherwise known as cash-out "refi" or MEW (mortgage equity withdrawal).

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The Greenspan Chronicles, Part 3: Why Capitalist Prosperity Is Dying

It had taken the first 74 years of the Fed's existence to grow its balance sheet to $250 billion, but during Greenspan's 19-year tenure it more than tripled to $750 billion.

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The Greenspan Chronicles, Part 2----Why Capitalist Prosperity Is Dying

Under a regime of sound money and free markets there is no need for monetary policy management----and certainly not heavy-handed pegging of money market interest rates, central bank torture of the yield curve or puts and props under the price of risk assets.

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The Greenspan Chronicles, Part 1-----Why Capitalist Prosperity Is Dying

Among the many myths promulgated about the Maestro is that he vanquished inflation and set-up the US economy for a sustained period of stable prosperity. But even the sawed-off inflation measuring stick used by the BLS puts the lie to that fiction.

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Forget The Party Hats, Grab The Tinfoil Ones

We don't own any tinfoil hats here at Contra Corner, but we are thinking about ordering some from Amazon. Really.

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Repeal And Replace----The Chaos Begins

The tweeting is done. Now the Washington chaos begins. That about sums up where the Donald and his Congressional Republicans stand after just a few days of grappling with their campaign pledge to "repeal and replace" Obamacare on Day One. As we said yesterday, that's actually mission impossible, and now we are beginning to see why.

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Why Trump-O-Mania Will Splatter Very Soon

Thirty years of Bubble Finance has not only destroyed honest price discovery in the financial markets; it has also reduced the financial intelligence of Wall Street to the level of cheerleader chants. The later surely lies at the heart of Trump-O-Mania

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Some Pre-Inauguration Euphoria Stoppers

Another Jobs Friday. Another year of the "best jobs market" this century. Also, more crowing from Obama about his awesome economic recovery----accompanied by a lot of anticipatory boasting from Team Trump about the veritable economic boom just ahead.

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They're Smoking Something On Wall Street

This is getting down right ridiculous. The clowns on the Senate Armed Services Committee, led by the Boobsey Twins, Senators McCain and Graham, spent Thursday fulminating at Vladimir Putin for hacking John Podesta's emails. Now that happened even as the nation's director of apparently fake intelligence, serial liar James Clapper, presented not one shred of evidence to prove it.

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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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