Stockman’s Corner

WTF?!

Vertical Is The New “Transitory”

The Manheim Index, the most recognized wholesale used-vehicle price index by financial and economic analysts, shows that used car prices rose 4.9% in the first 15 days of November compared to October. The overall index has jumped 44.9% from November 2020.

https://www.zerohedge.com/markets/used-car-prices-continue-historic-vertical-ascent-new-record-high

BlackRock—The Fed’s Wall Street Croupier

Central banks have not merely inflated the bejesus out of assets prices. They have also caused the very foundations of financial markets to metastasize, yielding an endless array of new products that have no real economic function except to facilitate new forms of pure wagering.

The Clock Is Ticking

We did insist a few days ago that 95% of Sleepy Joe’s ballyhooed infrastructure bill funds things which are not Washington’s proper responsibility. Little did we suspect, however, that he would set up to immediately prove the point in spades.