Stockman’s Corner

The Donald’s Davos Delusions

Somehow the Donald managed to say less during his 15 minutes of fame at Davos than even the swamp creatures he abhors might have offered up. But the pity of it is that the whole thrust of what he did say was dead wrong: America is not back; it’s fading fast—and mostly on account of the Welfare State/Warfare State/Bubble Finance policies Trump […]

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Flying Blind, Part 2: The Destruction Of Honest Price Discovery And Its Consequences

In Part 1 we noted that the real evil of Bubble Finance is not merely that it leads to bubble crashes, of which there is surely a doozy just around the bend; or that speculators get the painful deserts they fully deserve, which is coming big time, too; or even that the retail homegamers are always drawn into the slaughter at the very end,

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Flying Blind, Part 1: How Bubble Finance Destroys Economic Efficiency And Rationality

You could say thank heavens they have finally stopped buying the “dip”. Then again, there apparently aren’t any left! That’s the case, anyway, even if your notion of a “dip” is any day the market doesn’t go up. So far there has been exactly one such occasion during 2018. Or worse still, if you assume the traditional metric of at least a 5% drop, you have already been

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Washington’s Bloated Big Engine That Can’t—Why The Shutdown Threat Matters

We have been here before—-in the blow-off stage of a stock market mania that is being driven by nothing more than momentum. Speculators and robo-machines alike are buying the market solely because it is going up (almost) every day. Their excuse is FOMO. But their downfall will be utter failure to have noticed headwinds gathering everywhere—but most especially in the Imperial

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The Statist Roots Of The GOP’s Anti-Immigration Folly, Part 4

If you ever needed an example of how to Not Make America Great Again (N-MAGA), consider the idiocy of the Trump Administration’s raid last week on about 100 7-Eleven convenience stores located in 17 states. Upwards of 1,000 ICE agents and support personnel were involved in storming these bottom-of-the-barrel emporiums, but what they snared was

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Why The GOP’s Anti-Immigration Folly Is Economically Stupid, Part 2

In Part 1 we documented that the social insurance Ponzi is going into an accelerating collapse in part because the working age population is flat-lining. Compared to growth of 20 million prime age workers (25-64 years) per decade, as occurred between 1975 and 2005, there will be only 5 million new prime age workers per decade over 2015-2035—-all of whom

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