Stockman’s Corner

Bravo Brexit!

At long last the tyranny of the global financial elite has been slammed good and hard. You can count on them to attempt another central bank based shock and awe campaign to halt and reverse the current sell-off, but it won’t be credible, sustainable or maybe even possible. The central bankers and their compatriots at the EU, IMF,…

The Fed’s Third Mandate And The Destruction Of Honest Finance, Part 1

California Rep. Edward Royce had the temerity yesterday to ask Janet Yellen whether the Fed was propping up stock prices. Imagine that! In fact, he hit the nail on the head when he characterized the Fed’s unrelenting intrusion in financial markets and constant dithering on rate normalization as a “third pillar”, and one found nowhere in its statutory authorities: ROYCE:…

In Praise Of Ignorant Politicians…..Unschooled In Beltway Delusions

The Imperial City deserves to be sacked by insurgent politicians of the very ignorant kind. That is, outsiders unschooled in its specious groupthink and destructive delusions of grandeur. That’s why Donald Trump’s challenge to the beltway’s permanent bipartisan ruling class is so welcome. He is largely ignorant of the neocon and war hawk catechisms and sophistries propounded by joints like the Council on…

Abolish The FOMC, Bring Back The Green Eyeshades

The approximate hour Janet Yellen spent wandering in circles and spewing double talk during her presser yesterday was time well spent. When the painful ordeal of her semi-coherent babbling was finally over, she had essentially proved that the Fed is attempting an impossible task. And better still, that the FOMC should be abolished. The alternative is real simple. It’s called price…

Janet Whiffs Again——Take Cover Now!

If Donald Trump has even a partial clue about the nation’s monumental economic mess one of his first acts will be to demand Janet Yellen’s resignation. And for sheer incompetence among countless other failings. She was out there again today talking in completely incoherent circles. On the one hand, Yellen robotically insisted that the U.S. economy is moving…