Stockman’s Corner

America’s “low interest man” was at it again yesterday, chiding the Fed for it’s baby steps toward quasi-honest interest rates. Self-evidently, the Donald thinks the route to MAGA is via thoroughly crooked money rates—the kind that don’t even cover the cost of inflation and which help developers and speculators pay back their debts in depreciated money. We […]

It’s probably nothin’! We are referring to today’s move to above 3.26% on the 10-year UST. The benchmark yield hasn’t been that high since way back on May 4, 2011. Then again, you might want to beware of the Ides of October (9th). That’s because two recent (and painful) market turning points took place on this exact date.

The job of Wall Street economists is simple: Namely, to spin the economic weather— come rain, shine, sleet or snow—so that it is just right for the stock market. Since nothing could possibly go wrong, the message is everywhere and always the same: Hit the “buy” key and don’t sweat the small stuff! The recently surging interest rate complex is a

It’s hard to think of anything dumber than for a new Administration to claim credit for the last spasms of an old business cycle. But the Donald has done it in spades, thereby setting himself up for a great big fall when the US economy soon makes its appointed rendezvous with the next recession. Predictably, Trump

We are making our way across Europe today just as the mother of all yield shocks we have been warning about begins to have its way with the clueless boys and girls and robo-machines in the casino. But they haven’t seen nothin’ yet—–even central banks cannot keep egregious bubbles suspended in mid-air indefinitely. Given the massive Trumpite/GOP

The damage to the political, economic and social fabric of America stemming from the Fed’s egregious money-pumping seemingly knows no bounds. And today we have a doozy of a case in point. We are referring to the seeming juxta-position Jeff Bezos grandstanding about Amazon’s new $15 per hour minimum wage and the New York Times’ front page all-guns-blaring

Some people never seem to hear the warning bells clanging. We are speaking, of course, of the Wall Street day traders and robo-machines that managed a modest rip higher in the stock averages yesterday on the alleged good news of the Donald’s midnight-hour trade deal with Canada. We realize that was just the meme of the moment—-and

The most immediate takeaway from last week’s Kavanaugh Confirmation Carnival was that the 1980s must have been one helluva of a time to be a student. To hear their schoolmates tell it, both Brett and Christine were a beer vendor’s dream and knew a thing or two about the joys of getting blitzed long before they had reached the

There should be no doubt that the US has a huge trade imbalance problem with China. That part the Donald has right. After all, US imports from China grew from $20 billion in 1993 to $530 billion at present (dark blue bars). But nothing grows by 27X in barely two decades in the natural order of

At least the Donald’s sense of humor appears to be firmer than his grasp of reality. So when a wave of diplomatically polite guffaws rolled over the UN general assembly yesterday in response to his unvarnished boasting, he seems to have gotten the joke: “In less than two years, my administration has accomplished more than almost any administration