Stockman’s Corner

It doesn’t get any stupider than this. The S&P 500 is up 47% since the March 23 intra-day low, but the stupid part is not just the stock index level; it’s also the Wall Street claim that the stock market’s got it right and is discounting a brilliant future on the other side of the […]

Last month we learned that in the short span between February and April the number of non-farm payroll (NFP) jobs modeled by the BLS plunged from 152.463 million to 131.045 million, representing a staggering 21.4 million or 14% obliteration of paychecks.

Our theme today is all-time highs and the exploration of exactly what it is that both Wall Street and Washington are higher than a kite upon.

If you ever wanted smoking gun proof of the folly and corruption of the Fed’s massive intervention in financial markets, today’s lead in the Wall Street Journal couldn’t have been more dispositive.

The irony rarely gets thicker than that embodied in the incendiary George Floyd saga.

Surely William Mark, pictured below, is the poster boy for the looting of America that is now in full swing. In a few short days of madness the man lost his entire life savings—-nearly $800,000. But he was not a victim of the small time arsonists and roving bands of open air thieves that struck

Since robo-traders function by the millisecond, the Wall Street mindset—if you want to call it that—has gone strictly short-term incrementalist.

A hundred years ago in response to the horror of WWI, the great Randolph Bourne famously pronounced the truth that “War is the Health of the State.” Said Bourne,

With 97% of companies reporting, it appears that aggregate S&P 500 net income posted at a paltry $661 billion annualized rate in Q1. That’s down 50% from the Q4 2019 level of $1.289 trillion, and marks the lowest posting since since Q4 2009 when the US economy was deep in the Great Recession swamp.

Lockdown Nation has devastated the American economy, the livelihoods of tens of millions of workers, the sweat, blood and financial survival of millions of small business people, and the very fiscal, monetary and political viability of the country.