Historical Archives

The Market Always Beats The State: How Chinese Exporters Are Dodging The Donald’s Beautiful Tariffs

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 …

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China’s Grand Belt and Road Initiative: Another Overbuilding Debt Bomb

China doesn’t just print money like the rest of the developed world. Instead, it “prints” condos… and roads, railways, bridges, office buildings, and malls. All with less visible local debt that the Chinese government implicitly guarantees. https://davidstockmanscontracorner.com/?p=322193&preview_id=322193&preview_nonce=2d19a06ced&preview=true

Hey, Donald, Sometimes Them Furiners Put Stuff Back In The US Piggy Bank, Too

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 …

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Rescued By The Fed? Not So Fast!

An interesting conundrum as with each rally day the likelihood of a rate cut decreases. You really expect the Fed to cut rates at record highs? Please. Reality is the Fed has very much limited rate cut ammunition compared to previous cycles hence they need to act judiciously with rate cuts. Don’t forget we’re still …

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Another Recession Warning: New Auto Sales Slipping, Used Car Loans Rising

The chart of the Manheim Used Vehicle Value Index, which is adjusted for mix, mileage, and seasonality, shows the two price surges from end of March 2017 and March 2018 that were subsequently only partially unwound. And the 2019 selling season is beginning likewise: https://wolfstreet.com/2019/06/08/used-car-wholesale-prices-surge-retail-volume-drops-new-cars-sink-deeper-into-carmageddon/

After 38,000 Layoffs, Wall Street Wakes up to ‘Peak Car’

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 …

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Worried Yet? You Damn Well Better Be!

It hasn’t been China that has been the source of sudden escalation; nor Iran; nor North Korea; nor Turkey, who admittedly gave it a good go in announcing they may install Russian S-400 anti-aircraft missiles in the area of the Mediterranean they are looking for energy in despite protests from the EU’s Cyprus it’s their …

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Trump’s Mexican Tariff Caper—-Madness By Any Other Name

Trump stunned the investor community when he vowed late on Thursday to impose a 5% tariff on Mexican goods escalating to 25% until the “immigration problem, is remedied.”The fear is that not only will the move further upend supply chains, shake trade diplomacy and diminish the likelihood of a near-term breakthrough with China, but that …

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Why The Cycle Is Turning

While the monthly or weekly deltas in most incoming data is noise, sometimes the multi-year trend is so significant that it is worth repeating. To wit, as we demonstrated last week the unemployment claims numbers remained flat as a pancake until the very month before the Great Recession incepted in December 2007. In fact, the 320,000 level in November …

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