Stockman’s Corner

At today’s close fully 60% of the Trump Bump in the S&P 500 has been liquidated. And we have some nice round numbers to show for it. The broad market index stood at 2140 just hours before the shocking 2016 election results were reported, and rose by 800 points from there to 2940 on September 21, […]

Well, the Donald didn’t get his low interest man and the crybabies of Wall Street didn’t get their Fed capitulation. So hissy-fit on! Still, for all the tortured post-meeting gumming by the talking heads of bubblevision about dot-plot revisions and how a dovish Fed statement didn’t coo dovish enough, they still don’t get it. It’s

Needless to say, the desperate boys and girls in the casino are now literally holding their breath for what they hope to be the Fed’s surrender announcement on the morrow. Not that it will likely defer the pinprick 25 basis points rate increase scheduled for the December meeting. After all, how could it? At the pending target of  @2.4%, the

Being both a life-time speculator in leveraged real estate and an economic ignoramus to boot, it is not surprising that the Donald came out swinging at the Fed this morning. Said the “low interest man” in the Oval Office: It is incredible that with a very strong dollar and virtually no inflation, the outside world

Peak Trump happened on September 21, 2018 when the S&P 500’s giant bubble topped out at 2940. It has been downhill for the market ever since then; and with far more meltdown to go, it means that the Donald, too, is heading for a great big fall. Indeed, we think the odds that he will be accorded the Dick Nixon

As we documented in Part 2, the immigrant crime and welfare parasite stories are complete red herrings. Instead, the underlying motivation for the Trumpian Border Wars is a faulty zero-sum economic theory, rank political opportunism by the GOP and the rise of a nativist chauvinism that glorifies a mythical American “nation” that never really existed. Unlike most other more homogenous nation-states

It is almost impossible not to cheer when the Donald goes nose-to-nose with Nancy Pelosi and Chuckles Schumer as per today’s Oval Office smackdown. The Washington Leviathan that now crushes Flyover America is the results of  decades of their misbegotten statist policies and is the reason the Donald was elected against all odds in the first place.

You can’t appreciate the insanity of the Donald’s Border Wars without knowing one cardinal truth. To wit, virtually all of the crime and violence which he endlessly demagogues about is caused by Washington’s benighted War on Drugs. By contrast, immigrants have far lower crime rates than native Americans. Accordingly, un-conflating illegal drugs and illegal immigrants is the sine qua

Needless to say, the chart monkeys are struggling to get their footing. The S&P 500 closed 2.6% below its 50-DMA and 2.4% below its 200-DMA, but in an end-of-session stick-save it shinnied its noise a hair (o.3%) above the 50-week MA Maginot Line. That is, the market closed at 2696—eight handles above the last stop in the elevator shaft at 2688. Of course, we have

The explanation for the kind of soft-power aggression embedded in Washington globe-spanning “sanctions” regime, as we detailed in Part 1, is not national security: It’s simply what Imperial Washington does for a living. In the same vein, the billions of taxpayer money being pumped through the foreign policy agencies, NGOs, think tanks, advocacy organizations and sleazy lobbying operations