Stockman’s Corner

We have crossed the fiscal Rubicon, and not merely because Congress passed a $400 billion budget-buster in the wee hours of the morning rather than abide a government shutdown beyond sunrise. And also not merely because the deficit is now locked in at $1.2 trillion or 6% of GDP during what would be the tail-end 10th year of the business expansion […]

You can say this for the swamp creatures: Their gall knows no limits. Apparently, the two government lifers running the US Senate—-Mitch McConnell and Chuck Schumer (hereafter “Mitchels & Chuckles”)—-have reached a deal to bust the already red-ink soaked budget by $400 billion over the next two years and by upwards of $3.5 trillion over a decade. Consequently, bond yields have

Flush. Rinse. Repeat. BTFD! Well, you could also give a good whack to the weak hands, burn the over-boughts, call in the sideline cash and get giddy about the fundur…mentals! After all, the man on bubblevision said nothing has changed since the January 25 high at 2873 on the S&P 500. So there’s that: Another easy peasy 6% gain by just getting back to

Janet Yellen deserves exactly none of the adulation being conferred upon her tenure by the mainstream financial press. In fact, her reign will be judged by history as a spectacular failure that left main street high and dry—even as it finally and completely addicted Wall Street to the toxic monetary heroin that is the specialty of Keynesian central bankers.

This is one for the record books. During Janet Yellen’s last week in office, the Dow dropped by 1,095 points or 4.1%. But by her lights, apparently, that wasn’t even a warning bell— just the market clearing its collective throat. So on the way out the door our Keynesian school marm could not resist delivering what will soon be seen

The US economy is threatened by two giant problems which cause all others to pale into insignificance. We are referring to a rogue central bank that has become an absolute enemy of capitalist prosperity and a fiscal doomsday machine that is hostage to the ceaseless budgetary demands of the Warfare State, the Welfare State and the

Yesterday afternoon brought three salient statements from Washington financial authorities that boil down to a simple admonition. To wit, if you are still in the Wall Street casino, run don’t walk toward the nearest emergency exit. We are referring first to the CBO’s warning that Uncle Sam will run out of cash by early March if the debt

As we said on Fox Business yesterday, Donald Trump is walking himself right into a miserable trap. He and his putative “advisors” are apparently so blind to the severe headwinds facing the financial markets and the deep structural impairments plaguing the US economy that they have eagerly embraced a veritable fairy tale.

The Capitol Hill pols are so excited about the Donald’s trillion dollar infrastructure boondoggle that they are positively foaming at the mouth. So it’s worth paying attention to their double-talk; it’s yet another reminder that the Federal budget is indeed a fiscal doomsday machine that can’t be stopped, and that will soon send bond yields soaring and the stock

America’s economy is faltering not from too little infrastructure spending, but from too much debt—-$67 trillion of total public and private debt, to be exact. So it appears that the bond vigilantes are returning from 24 years of hibernation just in the nick of time to put the kibosh on the Trumpite/GOP’s latest hare-brained scheme to