As we noted in Part 1, Wall Street's ex-items earnings narrative has become so corrupted that there really isn't any need at all for actual economic growth. When it comes to earnings, it is now literally the case that "down" is the new "up" and no amount of hopium can be gainsaid.
Voodoo All Around, Part 2
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.