Category Archives: David Stockman

The Coming War on Cash

FDR banned The People’s right to protect themselves from his and the Fed’s massive economic intervention policies in 1935 by declaring private ownership of gold illegal.  Prior to then, Gold had been considered the real, legal money backing all citizens’ “paper dollar notes”.  In other words, our real money (gold) was being stored safely on …

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Stockman on 1/27/2016

David Stockman has a nice piece that sets in context the recent really from lows in context of the deeper economic structural problems.    The piece is quite good because it mixes current events with layman economic explanations and an excellent summary of how it is we got into this mess: 700 Days In No Man’s …

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David Stockman lets loose on the High IQ Morons gathering in Jackson Hole at the moment.  In particular, their delusion that their efforts are “science” in the truest sense of the word — e.g., like physics, hard and fast laws and rules that always create repeatable and predictable results. Quite the contrary, yet that never …

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Mother’s Milk of Speculation

“…It is undeniable that ZIRP is the mother’s milk of Wall Street speculation. After all, the money market is where dealers and hedge fund gamblers finance themselves and put on their carry trades. By contrast, no businessman with productive inventories of raw materials, work-in-process or finished goods would be foolish enough to fund his working capital in the overnight markets. Speculators …

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Stockman is spot on again

Is the end nigh?  Stockman seems to think the tipping point is past.  I think his summary is pretty much spot on. …the central banks of the world have shot their wad. Accordingly, the 12-year round trip depicted in the chart is not about the end of some nebulous “commodity supercycle” that arrived from out of the …

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