Wall Street

Europe Opts Out of Forever War

By David Stockman  |  November 8, 2018

Turning and turning in the widening gyre   
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere   
The ceremony of innocence is drowned;
The best lack all conviction, while the worst   
Are full of passionate intensity.

– William Butler Yeats, “The Second Coming” (1919)


Oh, the narratives are multiplying like rabbits today. Bubblevision’s delight simply can’t be measured.

It’s gone full “-gate” on the politics side – the Donald fired his attorney general last night and went outside the normal chain to appoint an “acting” replacement.

That’s a sign, in the collective mind of a Mainstream Media weaned on “Woodward & Bernstein,” of the coming “Saturday Night Massacre”-type firing of Prosecutor Mueller.

Markets are actually taking a bit of a pause, perhaps to take it all in.

CNBC is filling its air with “Goldilocks” talk and positive spin on third-quarter earnings – it’s not too hot, but it’s not too cold, either.

But, as the chyrons say, the S&P is pacing for its best week in eight months, and the rally will continue on Wall Street.

Meanwhile, it’s the day after the day after “The Most Important Election of This (or Any Other) Time”…

And the Donald is readying his “warlike posture,” as he put it in a news conference yesterday that was contentious before it broke that Jeff Sessions is going back to Alabama.

It’s ironic – as it almost always is, especially when it comes to his real, substantive successes.

The President is prepping for full combat with Nancy Pelosi.

At the same time, he’s pulling the rug from under important pillars of the Warfare State.

Call it the unintended dividend of Trump’s “America First” approach: France, Germany, Russia, and Turkey – snubbing our neocons – have opted for peace in Syria.

And this, folks, is the job of a Great Disruptor: Alienate the world enough for its leaders to say, “No, thanks,” to Imperial Washington’s Forever War.

You might have caught wind of that report from The Wall Street Journal on CNBC, Fox Business, or Bloomberg; Bubblevision (Politics), of course, was still all over Khashoggi and Pittsburgh and Sayoc and Caravans…

Well, it was more than a thousand Dow points ago…

And it was before the Donald got emboldened by his midterm results.

We Can’t Let the Deep State Win!

It’s not some crazy conspiracy theory… the Deep State DOES exist. And Trump can’t defeat it alone. That’s why the father of Reaganomics and the swamp’s worst nightmare is finally doing something.  Exposing their lies… Protecting our freedoms… and bringing us all together with the power of one voice. Get the details on how to join him, right here.

U.S. forces fight endless, ill-begotten wars. That’s what we do, whether in Vietnam in the 1960s or in Iraq and Afghanistan four decades later.

It’s easy to lose sight of where the Pentagon continues to maintain a truly winning record: right here in the friendly confines of the United States of America.

Today, the idea that ever more inflated military spending is an investment in making America great again reigns supreme.

And that’s been the case since the 1980s and the era of President Ronald Reagan.

Once, it was a matter of principle, standing up to an evil empire. Now, the Warfare State pursues pure power, propped up by cowardice and graft.

It’s the duopoly, and it loves its Deep State.

Even with the Donald’s “alienation diplomacy” well at work, disgusting “Empire First” creeps like Mike Pompeo occupy major slots in his administration.

He and fellow warmonger John Bolton continue to amplify a non-existent military threat from Iran. At the same time, they’re kissing multiple asses in Saudi Arabia.

Even with all that, take a close look at those “sanctions”: They include waivers for favorites, so the impact on the price of oil is minimized. And it still amounts to economic warfare on millions of innocents.

Europe is unhappy that the Donald pulled out of the Iran nuclear treaty without a fuller discussion. And the U.K. has joined France and Germany to protect European firms from the impact of unilateral sanctions.

So, it’s going its own way on Syria.

It may not look like it, yet. But things are coming apart.

And it’s going to accelerate.

Fail to Plan, Plan to Fail

We have a problem. But we also have a plan.

And that’s the whole point of Deep State DeclassifiedThe Stockman Letter, and “The Stockman Model.”

Let Bubblevision blather on… This time, the mess in Imperial Washington is spilling onto Wall Street.

How ugly will it get? And will markets be able to weather it? As they say, it’s hard to make predictions, especially about the future…

But I do know it’s time to ignore the inmates running the Acela Corridor asylum.

That’s what we have to do to survive the Mother of All Yield Shocks.

Let’s get started.

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David Stockman

David 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 Ronald Reagan. After leaving the White House, Stockman had a 20-year career on Wall Street.MORE FROM AUTHOR