Editor, David Stockman's Contra Corner
Contributor's Links: David Stockman's Contra Corner

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

ALL CONTRIBUTIONS

What Strong Jobs Market?
The US economy has generated just 11,000 breadwinner jobs per month for the last 19 years running.
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65 Years Of More Debt, Less Growth
This chart on the non-financial corporate debt to GDP ratio says it all.
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August Payrolls---Punk And Heading Worse
As in the headline, there are a number of details inside the payroll reports suggesting an unusual level of downside.
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Too Late For The Fed Money Pumpers: The Manufacturing Recession Is Already Here
Mainstream talk, when even admitting the possibility of weakness, continues to center on trade wars. The markets displayed the further decay of eurodollars.
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Red Ponzi's Winning The Corporate Debt Race With The U.S.
The US corporate debt of $15 trillion pales compared to China’s corporate debt of $19.7 trillion.
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The Great Student Debtberg Since 2006: Loans Outstanding Up 3X, Delinquent Debt Up 8X
From 2006 to 2018, total outstanding U.S. student loans surged over 200% from $521 billion to $1.57 trillion.
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STOCKS I FOLLOW

GOOG Alphabet Inc. (Google)
HAL Halliburton Company
MSFT Microsoft Corporation
SPY SPDR S&P 500
XOM Exxon Mobil Corporation

TWEETS

PERSONAL BLOG

Latest Posts
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.

Work Experience

Owner, Editor
David Stockman's Contra Corner
March 2014 - Present (5 years 7 months)
David Stockman's Contra Corner is the place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked
CEO
Collins & Aikman Corporation
2003 - 2005 (2 years 9 months)
Founder
Heartland Industrial Partners
1999 - 2005 (6 years 10 months)
Partner
Blackstone Group
1988 - 2001 (13 years 11 months)
"Intern"
Salomon Brothers
1986 - 1988 (2 years 9 months)
Director of the Office of Management and Budget
Executive Office of the President of the United States
1981 - 1985 (4 years 9 months)
Congressman
United States House of Representatives
1977 - 1981 (4 years 9 months)

Education

Harvard University
1974 / 1975
Graduate Studies
Harvard University
1968 / 1970
Graduate Studies
Michigan State University
BA
1965 / 1968
History

Publications

The Great Deformation: The Corruption of Capitalism in America
David Stockman
PublicAffairs
04/02/2013
The Great Deformation is a searing look at Washington’s craven response to the recent myriad of financial crises and fiscal cliffs. It counters conventional wisdom with an eighty-year revisionist history of how the American state—especially the Federal Reserve—has fallen prey to the politics of crony capitalism and the ideologies of fiscal stimulus, monetary central planning, and financial bailouts. These forces have left the public sector teetering on the edge of political dysfunction and fiscal collapse and have caused America’s private enterprise foundation to morph into a speculative casino that swindles the masses and enriches the few.
http://www.amazon.com/The-Triumph-Politics-Reagan-Revolution/dp/1610392779
David Stockman
PublicAffairs
03/26/2013
As Director of the Office of Management and Budget in the early 1980s, David Stockman was a chief architect of the Reagan Revolution—a bold plan to cut taxes and reduce the scope and cost of government. The Triumph of Politics was Stockman’s frontline report of the miscalculations, manipulations, and political intrigues that led to its failure. A major publishing event and New York Times bestseller in its day, The Triumph of Politics is still startling relevant to the conduct of Washington politics today.
David Stockman's Contra Corner
David Stockman
David Stockman
David Stockman's Contra Corner is the place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked.