Stockman's Corner

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Chart of the Day: This Isn't Deflation---It's Massive Club Med Capital Flight Hiding In Target2

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The Orange Swan Cometh, Part 1

MarketWatch finally came up with a timely headline yesterday, noting that "Geopolitical black swans are the stock market's biggest ri

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The Money Printers' Party Is Over---Now Comes Payback Time

After 100 months of ZIRP and massive bond-buying which took the Fed's balance sheet from $900 billion to $4.5 trillion, even our Keynesian monetary central planners are running out of excuses.

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Halloween In August-----The Fiscal Horror Show Playing In Washington Soon

The Deep State's coup against Donald Trump is palpable. So count it as another element of reality to which Wall Street and its raging robo-machines and day traders are blind as bats.

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Steve Forbes, Enough Of Your Economic Claptrap!

Steve Forbes claims to be a stalwart conservative and benefactor of free market capitalism. Actually, George H.W. Bush was correct about his central idea way back in 1980.

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Casino Capitalism: The Destructive Financial Engineering of Saint Warren Buffett And The Boys On The Brazilian Bus

If you want an example of how the Fed's drastic financial repression and falsification of financial asset prices is destroying jobs and growth, look no further than Friday's M&A monstrosity. We are referring to Kraft Heinz' proposed $145 billion hostile takeover of Unilever---the giant Anglo-Dutch consumer products company.

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Take Heart. The Donald's "Fine-Tuned Machine" Will Get The Job Done---Disruption!

We got that right. Donald Trump is the Great Disrupter. Yesterday's press conference was living proof that Trump will accomplish his historical mission. That is, to bring Imperial City to a screeching halt. The Donald is now fully at war with the mainstream media and the national security apparatchiks of the Deep State----and nothing could be more conducive to exposing the folly of Washington imperial depredations abroad and its fiscal bankruptcy at home.

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Trumping The White Queen----Six Impossible Things Before Breakfast

In Lewis Carroll's Through The Looking-Glass, the White Queen famously averred that when she was younger she could sometimes believe six impossible things before breakfast. Apparently at age 70 the the Donald still can...

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Flynn's Gone But They're Still Gunning For You, Donald

We said yesterday that General Flynn's tenure in the White House was only slightly longer than that of President-elect William Henry Harrison in 1841. Actually, with just 24 days in the White House, General Flynn's tenure fell a tad short of old "Tippecanoe and Tyler Too". General Harrison actually lasted 31 days before getting felled by pneumonia.

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Wall Street Hockey Sticks----More Kindling For The Bonfires Ahead

Exactly 22 months ago the consensus estimate for Q4 2016 LTM earnings of the S&P 500 was $126.50 per share on a GAAP basis. A year latter it was down to $111.50, while by mid-October the street "consensus" had slipped further to $101.40 per share. And with the Q4 earnings season now underway it stands at just $97.68, according to Howard Silverblatt who is the S&P data guru on these matters.

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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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