David Stockman

The Birth And Rise Of Washington’s Infernal Inflation Machine, Part 2

The re-channeling of the Fed’s inflationary money-pumping from main street to Wall Street gave rise to Twin Big Lies. Namely, that the Friedman formula about too much money chasing too few goods was obsolete, and that the soaring paper wealth being generated in asset markets was real, sustainable and a sign of resurgent capitalist prosperity. …

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DARPA Is Bad, HARPA Will Be Worse

A “new” proposal by the Biden administration to create a health-focused federal agency modeled after DARPA is not what it appears to be. Promoted as a way to “end cancer,” this resuscitated “health DARPA” conceals a dangerous agenda.           https://www.lewrockwell.com/2021/07/no_author/this-biden-proposal-could-make-us-a-digital-dictatorship/      

The Birth And Rise Of Washington’s Infernal Inflation Machine, Part 1

As we argued last week, there is no way to understand the virulent all sectors inflation that has overcome the American economy apart from the fulcrum financial event of modern times. That is, Richard Nixon’s scrapping of the Bretton Woods monetary arrangement and the dollar’s last link to gold at Camp David in August 1971.

India KOs The Delta Boogeyman

The prevailing narrative from Fauci, Walensky, and company is that Delta is more serious than anything before, and even though vaccines are even less effective against it, its spread proves the need to vaccinate even more people. Unless we do that, we must return to the very effective lockdowns and masks. In reality, India’s experience …

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Buy The Dip…..Honest Price Discovery Is Dead As A Doornail!

This headline from the WSJ was certainly revealing. It attributes rationality to liquidity-besotted trading in the bond pits that has nothing to do with anything, except whether at any given moment the momo pack has gone student body-left or student body-right.

The Delta Panic: Infected Or Injected?

Which makes me wonder how many people in the wave of the new “infections” test positive because they’ve been injected, not because they’ve been infected. Though the difference may not be easy to detect, other than the first group never getting sick, but then again, 80% of people have natural immunity against Covid to begin …

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Home Base Of The Inflation Deniers

As we showed last week, there is an extra $60 trillion of household assets hanging around the US economy and that didn’t happen by the economic equivalent of immaculate conception. It’s the product of the Fed’s unhinged money printing spree over the last three decades and amounts to gross inflation of financial assets.