Memo To Steve Mnuchin And Gary Cohn: You're Fired!

The Donald's strong point admittedly does not lie in his grasp of policy detail. But, boy, did he get taken to the cleaners by his so-called economic policy team of Mnuchin & Cohn. No wonder Trump apparently balked at the last minute Monday night. The nine page bare-bones outline released yesterday is nothing more than an aspirational air ball that punts on virtually every policy detail needed to assess its impact and to price-out its cost. It promises to shrink the code to three rates (12%, 25%, 35%), for example, but doesn't say boo about where the brackets begin and end compared to current law.

You need to login to view this content.

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.

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.