Stockman’s Corner

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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The Shutdown Scam: The GOP Is Now The Second “Government Party”

Nowadays, government “shutdowns” are obviously not all that, and we do claim some expertise on the topic. Since 1975 there have been 14 shutdowns and we have had the privilege of being on-hand up close and personnel during 11 of these.

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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The Statist Roots Of The GOP’s Anti-Immigration Folly, Part 3

The false association between immigrants and crime always comes back to illegal drugs and the violence and mayhem of the Mexican cartels which bring them across the borders and the US based syndicates and gangs which distribute them throughout the land.

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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Why The GOP’s Anti-Immigration Folly Is Fiscally Fatal, Part 1

The actuarial deficit of Social Security/Medicare (OASDHI) is in the range of $55 trillion on a NPV basis and even in the world of big numbers that’s downright daunting. Therefore we have long felt—and not entirely facetiously—–that the only way to avoid  fiscal catastrophe is to annex Mexico.

The Real Bleep-Hole Moment—–$40 Trillion And Counting

You can call it the bleep-hole moment (per the Fox “family channel”) or the shit-hole moment (per the rest of the MSM), but what you can’t call yesterday’s contretemps in the White House is evidence that sentient adults are in charge of the Imperial City. And, no, we are not getting down on the Donald for using a swear word—nor are …

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It’s Not The “Growth,” Stupid!

Yesterday we took passing note of the latest bullish delusion being peddled by Wall Street. Namely, the claim that you got to love those rising yields because they are due to a stronger economy. And the latter, purportedly, means more profits and rising stock prices ahead. So back up the trucks! To that we can only say: No, no and …

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