Stockman's Corner

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Brennan, Rice, Power -- Lock Them Up!

We frequently hear people say they have nothing to hide----so surrendering privacy and constitutional rights to the Surveillance State may not be such a big deal if it helps catch a terrorist or two. But with each passing day in the RussiaGate drama we are learning that this superficial exoneration is dangerously beside the point

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The "Chuck Prince Market" Redux----Only Even More Dangerous

On July 10, 2007 former Citigroup CEO Chuck Prince famously articulated what might be termed the "speculator's creed" for the current era of Bubble Finance. Prince was ash-canned within four months, of course, but as of that day his minions were still slamming the"buy" key good and ha

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We've Seen This Movie Before

During the quarter just ended, Netflix (NFLX) burned through $600 million of cash. That brought operating free cash flow to negative $2.1 billion for the LTM period and negative $3.6 billion for the five and one-half years since 2012.

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The Imperial City's Fiscal Waterloo

It's all over except the shouting for Obamacare repeal and replace, but that's not the half of it. Last night's courageous stand by Senators Lee and Moran was way much bigger than putting the latest iteration of McConnell-Care out of its misery; it actually rang the bell loud and clear on the fact that the Imperial City has finally become fiscally ungovernable.

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Why The Swamp's Undrainable: Junk Politicians And The Junk Case Against "Junk" Insurance

If you want to know why the Donald doesn't have a snowballs chance of draining the Swamp and why, consequently, the US is heading for a gargantuan fiscal crisis, look no further than Nevada Republican Governor, Bruce Sandoval. This junk politician is campaigning non-stop against the limpid restraints on the exploding growth of Medicaid contained in Senator McConnell's latest version of Obamacare Lite.

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Memo To Fed: Asset Bubbles Are The New Inflation

The sight of Janet Yellen and her posse of Keynesian apparatchiks at the Fed (along with their camp-followers on Wall Street) down on their statistical hands and knees searching diligently for signs of rising inflation (to the second decimal point ) is a farcical sight to behold. They just can't seem to find what they have spent years trying to generate, as our monetary school marm averred in this week's testimony on Capitol Hill...

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Janet Yellen's Monetary "Newspeak"

In Nineteen Eighty-Four, George Orwell famously presented "newspeak" as a twisted vocabulary through which Big Brother controlled the "narrative", as we might call it today.

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Retail Apocalypse: Not Your Grandfather's Schumpeter

Joseph Schumpeter, who was one of the great economists of all times, once described capitalism as “the perennial gale of creative destruction." In Capitalism, Socialism, and Democracy (1942), he wrote...

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Donald Trump's Very Own Big, Fat, Ugly Bubble

The overwhelming source of what ails America economically is domiciled in the Eccles Building. During the past three decades the Federal Reserve has fostered destructive financial mutations on Wall Street and Main Street and among the household, business and government sectors of the national economy alike.

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Back To The Future: June 2017 Manufacturing Jobs Same As September 1945!

My daily contrarian reads for Monday, July 10th, 2017.

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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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