Stockman’s Corner

It doesn’t get more pathetic than this. After the Fed’s “disappointing” 25 basis point rate cute, divided FOMC vote and failure to guarantee more cuts just around the corner, Pusillanimous Powell saw the markets barfing and therefore stumbled forth with the following 2o-word ignition switch:

International Man: What do you make of the ballyhooed potential trade deal with China? David Stockman: First of all, the deal is all ballyhoo. You know what they say in Texas, “All hat and no cattle.” That’s what we got here. There’s not going to be a deal, because the problem that Trump is focused

Keynesian central banking is the mortal enemy of capitalist prosperity. And if you take off your recency-bias goggles the evidence is plain as day.

American democracy and capitalist prosperity are dying on the vine of Empire. And this weekend’s drone attack on the largest oil processing facility on the planet is a graphic case of why. So is the related picture below. The scene is of Yemenis burying a busload of children who were obliterated by American-made bombs delivered by American-made Saudi aircraft, which were being navigated to

Yesterday should have been a big time wake up call for anyone who still thinks the future will be as awesome as the Donald claims or the stock market has implicitly priced-in. That’s because what has been clarified during the last 24 hours is that—

They don’t come any stupider than Madman Mario Draghi. Apparently attempting to ride out of Dodge in a burst of stimulative glory, he has essentially touched off a new, even more virulent race to the currency bottom.

Folks, when it comes to blithering monetary lunacy it doesn’t come any riper than the Donald’s latest tweet on the subject.

If collective headstands in the Eccles Building would be just as efficacious as QE and ZIRP when it comes to main street growth, jobs, incomes and inflation, the same cannot be said for the Fed’s impact on Wall Street.

In Part 2 we suggested that the Fed’s interest rate and QE tools are no more efficacious in furthering its Humphrey-Hawkins mandates for the main street economy than simply doing headstands.

Today was another Jobs Friday but without the Census Bureau hires there wasn’t much to write home about. Just 96,000 private sector jobs were added to the payroll count, and even that figure got goosed by the 65,000 birth/death guestimate for the month.