Stockman’s Corner

Help! The Beemers Are Coming! (Part 1)

You have to wonder how long so-called conservatives can hold on to the vaporous canard that the Donald’s Trade Wars are some big exercise in Art of the Deal. That is, that Trump’s madcap tariff and trade bombs are actually all strategically designed to make MAGA , albeit via the rough and tumble extraction of concessions from abroad, which will allegedly fuel bigger trade …

Help! The Beemers Are Coming! (Part 1) Read More »

The “Deficits Don’t Matter” Folly

Well, that was timely. The US Treasury just posted a record $207 billion deficit for May and record monthly spending of $440 billion. That brought the rolling 12 month deficit to just shy of the trillion dollar mark at $986 billion.

It’s The Red Ponzi, Stupid!

After having apparently regained his pulse, Commerce Secretary Wilbur Ross was back on bubblevision this AM throwing cold water on any trade deal breakthrough with China at the upcoming G-20 meeting. Said he:

Slaughterhouse 3.0

There is nothing wrong with being part of the flock—that is, if the shepherd knows what he is doing.

The Countdown To Recession Starts Now

It wasn’t just the punk 75,000 new jobs number posted for May that rang the bell. More importantly, there was a 75,000 downward revision to the prior two months. That means that the 151,095,000 payroll jobs originally reported for April are still, well, 150,095,000 for May.

The Monetary Politburo Strikes Again

Doug Kass didn’t mince any words, and well he shouldn’t have. Yesterday’s chorus of dovish cooing by Fed heads was just plain beyond the pale.