Stockman's Corner

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Eddie, Steve (Mnuchin) And Bruce's Swell Adventure Destroying Sears---A Cautionary Tale For Trumponomics

There is something very important to understand about Trumponomics. To wit, all of the tax cuts and deregulation in the world are not going revitalize the American economy unless the Fed's Bubble Finance regime and the resulting casinos on Wall Street are decisively shutdown.

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Larry Summers Is Clueless Again----Slams Carrier Deal For Wrong Reasons

Professor Larry Summers has been harrumphing noisily because the Donald saved 1,100 jobs at the Indiana Carrier plant. According to Summers, the President-elect's intervention was bad because it violated "rules-based capitalism" and was "an act of ad hoc deal capitalism".

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Chaos In The Casinos---What November's "Before" and "After" Portends

The bond vigilantes nearly tagged the 2.50% mark on the 10-year Treasury on Thursday compared to a low of just 1.32% back on July 6th. But, apparently, what's to worry? According to the Wall Street stock peddlers---who are pleased to call themselves economists and equity strategists----the huge bond losses since July was a good kind of punch in the face if you happened to own one of these "safe" IOUs issued by Uncle Sam.

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The Only "Safe" Fannie Is A Dead Fannie

This is downright horrid. It's bad enough that Donald Trump filled the Treasury post with another plenipotentiary from Goldman Sachs & banksters, and that Steve Mnuchin is self-evidently clueless about the real economic ills that fueled the Donald's fluke victory.

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The Trump Reflation Trade---The Biggest Short Ever

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Why Trumponomics Will Not Help Flyover America, Part 2

What is going to stop Trumponomics cold is debt-----roughly $64 trillion of it. That's what is crushing the American economy, and until the mechanics of its relentless growth are stopped and reversed, the odds of achieving and sustaining the 3-4% real economic growth that Trump's economics team is yapping about is somewhere between slim and none.

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Why Trumponomics Will Not Help Flyover America, Part 1

Donald Trump is getting some extremely bad advice from his economics team. The path of protectionism and mega-fiscal stimulus they are recommending will not help Flyover America, where left-behind citizens in their tens of millions voted to impeach the Wall Street/Washington ruling elites on November 8th.

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The Bond Vigilantes Are Back----Just In Time To Stop Trumponomics

Early Wednesday the yield on the 10-year US treasury note tagged 2.4o%. That means it's up 65 bps since election day and 105 bps from the post-Brexit low in July. You can call that the return of the bond vigilantes, and just in the nick of time. We have always been skeptical of the Trump economic program because it really wasn't one; it was just a collection of aspirations, quips, bromides and wrong-headed panaceas like the big infrastructure build. As we said in Trumped!

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Why Trump's Already In Trouble: Steve Bannon---Rightwing Statist

If Steve Bannon is going to be the chief White House political and policy strategist, Donald Trump is in deep trouble before he even gets started. But the problem is not the mainstream media's baseless caricature of him as some kind of white supremacist. What's actually troubling are the views on which the liberal press gives him a thumbs up...

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This Sucker's Rally Is Done----Soon Comes The Carnage

This is about as irrational as it gets. Financial markets are heading straight into a perfect storm of central bank failure, bond market carnage, a worldwide recession and a spectacular fiscal bloodbath in Washington. Investors should be heading for the hills with all deliberate speed.

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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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