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David A. Stockman is the ultimate Washington insider turned iconoclast. He began his career in Washington as a young man and quickly rose through the ranks of the Republican Party to become the Director of the Office of Management and Budget under President ... more


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The Prospect Of World War III
As Putin becomes increasingly aggressive against Ukraine, the question must be asked: is the expansion of NATO the underlying cause of America’s needless tension with Russia and Putin’s paranoia about his borders and neighbors?
Record Highs And Raging Risks—The Mother Of All Head-Scratchers
Booming market optimism in the face of what has been unfolding in China will ensure years and even decades of head-scratching.
Oooops! Soybean Prices Plunge To Six Week Low
Chicago Board of Trade soybean futures plunged to a six-week low on Friday
Don’t Be Too Sure That It Will All Blow-Over
Don’t be too sure that the coronavirus will blow over and have no effect on global growth.
Global Manufacturing PMIs---Still Slipping And Sliding Southward
Manufacturing in the US is growing at crawl-speed or is actually declining, depending on who the beholder is. China appears to be on a similar track.
Recessions: Market Cures And Central Banking Sugar Pills
Stimulus efforts tend to be counter-productive since governments naturally attempt to prop up existing businesses and existing sectors.
Who Is Buying Subzero Bonds? Currency-Hedged Foreigners And Price-Chasing Momos
The fact that the US has positive nominal yields means little when they net to even lower yields when FX hedged vs Europe or Japan.
Emperor Xi Goes Full Orwell
Look where Chinese cities rank in this chart of most surveilled cities in the world.
Rigged? Nah!
It's the liquidity stupid!
Trump's Trade War Is Morphing Into Deep State Economic Warfare
With his crackdown on Chinese telecom giant Huawei Technologies Co. and a new directive targeting European and Japanese carmakers, Turmps administration is displaying its penchant to invoke U.S. national security in the broadest way possible.
Savings---Not Tariffs Will Make America Great Again
Instead of trying to strong-arm trading partners into better “deals,” Trump should be creating an environment for the re-industrialization of the economy. The first step in such a policy must start with savings which is the key to economic growth.
Auto Sales Tumble After Car Makers Slash Cash On The Hood
Today, we may have found the dynamo that drove purchases to a plateau of between 17 and 18 million units over the past three years: pervasive dealer discounts and incentives.
A Red Ponzi, Truly----China's Staggering Debt Vs. Soon-To-Be-Shrinking Population
Neither the fact that China’s bank balance sheets amount to more than 600% of GDP nor the fact that they have doubled in terms of percentage of GDP in the past several years suggests a healthy development.
Chart Of The Day: This Time Is Different-----$3.5 Trillion Of Doom-Loop (Passive) Funds
This time it's different
Chart Of The Day: Not To Worry! Junk Bond Yield Premium Narrows To Three Year Low
In today's chart of the day, view how the junk bond yield premium is at a three year low.
The Donald Nailed It: “We Are In A Big Fat Ugly Bubble”
Most of the 90 minutes last night was a waste—with both candidates lobbing well-worn clichés, slogans and sound bites at the audience and each other. But there was one brief moment that made it all worthwhile.
1 to 16 of 18 Posts
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