David Stockman

Jobless Friday

Another day, another rude awakening. The 701,000 jobs loss for March was the worst monthly drop since the bottom of the Great Recession, when the NFP count plunged by 706,000 in December 2008.

Not Your Grandfather’s Recession

Based on today’s shocking 6.6 million of new unemployment claims, we’d bet they’ll be some explosive political fireworks soon in this country about Covid-containment versus keeping the main street economy alive. There have now been an unprecedented, off-the charts 9.96 million new unemployment claims in the last two weeks.

Covid-Fever In The Imperial City

Could we please keep Chris Cuomo quarantined in his basement without any CNN cameras, the Donald’s big fat motor mouth locked hard on idle, the US Congress on self-isolation as far away from the Imperial City as possible and the Fed heads on home arrest without email, phones or smoke signalling equipment?

The Real Pandemic—Government Spending Unhinged

When it comes to pandemics, we can see what appears to be light at the end of the tunnel with respect to Covid-19. But owing to Washington’s hysterical efforts to spend it into submission, what we also see in the tunnel is a runaway budgetary train heading hard upon the wall of national fiscal solvency.

WTF!

WTF! Washington has well and truly lost what little collective mind it had left. Its panic driven assault on financial sanity apparently has no limits whatsoever, which means there will be hell to pay when trillions upon trillions of mindless monetary and fiscal “stimulus” comes flooding into an already debt and speculation enfeebled economy now …

WTF! Read More »