Stockman’s Corner

Santa Fe, Leviathan, Gun Control And The Baleful Legacy Of The Second Amendment

There was another horrific school shooting in Santa Fe Texas last week, and predictably it has unleashed a torrent of purple prose regarding what Washington should do about it—ranging from more gun control to more mental health funding to more school safety funding and much more. Au contraire. As horrible as these incidents are, there is […]

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They Don’t Ask, They Couldn’t Tell

Like we said yesterday: Wall Street’s claim that the economy’s good, earnings are good and rising yields are all priced-in is just plain nuts. That’s just an admonition saying you were born yesterday—so just shut-up and BTFD! “Yesterday” in the casino, of course, represents an unprecedented and unsustainable aberration. That is, sub-zero real money market rates for 9 years running

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Why The Empire Never Sleeps: War Finance Made Easy, Part 3

Woodrow Wilson’s Folly gave rise to more than the 1,000 year flood of Nazi and Soviet totalitarianism and their state orchestrated campaigns of mass murder. It also opened the door to massive, cheap war finance. And that baleful innovation has sustained the Empire long after Hitler and Stalin met their maker and the case for the Indispensable Nation had become ragged and

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Why The Empire Never Sleeps: The Indispensable Nation Folly, Part 2

The rise of the murderous Nazi and Stalinist totalitarian regimes during the 1930s and the resulting conflagration of World War II is held to be, correctly, the defining event of the 20th century. But that truism only begs the real question. To wit, were these nightmarish scourges always latent just below the surface of global civilization—waiting to erupt whenever good people

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Deep State First, Part 3: Crashes First, Recessions Later

Let us repeat: Financial crashes cause recessions, not vice versa. So if you are waiting for NBER (National Bureau of Economic Research) or even some unusually enlightened Wall Street economist to call recession before exiting the casino, well, get prepared for some very bad hair days. The old fashioned sequence of causation, of course, was that stock markets don’t crash

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Deep State First, Part 2: Lunacy In RUT Land, Debtberg Ahead

During an appearance on Fox Business recently we were indignantly asked by the Wall Street Journal’s chief Fed shill, Jon Hilsenramprath, whether we thought the market discounts the future—-the implication being that our dim outlook was out to lunch. Our response was that of course it discounts the future—by about one day! Here’s some living proof. The small and mid-cap Russell 2000 (RUT) kissed

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The Deep State First—Madness On Both Ends Of The Acela Corridor, Part 1

At his so-called Cabinet meeting this morning, the Donald basically threatened Iran with annihilation if it does what 15 other signatories to the nuclear non-proliferation treaty (NPT) do every day: Namely, increase production of industrial grade nuclear fuel (3.5%-5.0% purity) at its enrichment plant at Natanz—which, in any event, is crawling with IAEA inspectors. Moreover, it really doesn’t matter whether Trump was play-acting

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The Donald’s Done—The Deep State’s Wins Its War On America First

The Donald’s action to ash-can the Iranian nuclear deal marks the War Party’s complete and baleful triumph. There is now absolutely nothing left of America First. Trump’s reckless, unwarranted and utterly irrational action will pull Washington ever deeper into an incendiary middle eastern vortex of political and religious conflict that has absolutely nothing to do with safety and

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