It’s the End of the Beginning of “Normalization”

Finance By David Stockman.  |  October 5, 2018

Cheer up, the worst is yet to come! – Mark Twain, Those Extraordinary Twins (1894) The yield on the 10-year U.S. Treasury note hit seven-year highs this week.Read More

Here’s a Triumvirate… And Here Are Three Stooges

Finance By David Stockman.  |  September 26, 2018

What I tell you three times is true. – Lewis Carroll, The Hunting of the Snark (1876) Monetary central planners are the center of the system today.Read More

A Clear and Present Stranger Danger

Finance By David Stockman.  |  September 24, 2018

He wondered about the people in houses like those. They would be, for example, small clerks, shop-assistants, commercial travellers, insurance touts, tram conductors.Read More

This Especial Disaster

Finance By David Stockman.  |  September 21, 2018

Most of the people in Johnstown never saw the water coming; they only heard it; and those who lived to tell about it would for years after try to describe the sound of the thingRead More

“3.47 Times” Is the New Normal

Finance By David Stockman.  |  September 19, 2018

Debts and lies are generally mixed together. – François Rabelais, The Horrible and Terrifying Deeds and Words of the Very Renowned Pantagruel King of the Dipsodes, Son of the Great Giant Gargantua (c.Read More

The Financialization of Everything

Finance By David Stockman.  |  September 17, 2018

Financialization is a process whereby financial markets, financial institutions, and financial elites gain greater influence over economic policy and economic outcomes. – Thomas I.Read More

Six Impossible Things

Finance By David Stockman.  |  September 11, 2018

Alice laughed: “There’s no use trying,” she said; “one can’t believe impossible things.” “I daresay you haven’t had much practice,” said the Queen.Read More

What Happens If You Say “Larry Kudlow” a Thousand Times?

Finance By David Stockman.  |  August 31, 2018

Pride goeth before destruction, and a haughty spirit before a fall. – Proverbs 16:18 (King James Version) It’s oddly fortunate that the Donald hired Larry Kudlow as Chief Economic Cheerleader. I knew Larry Kudlow.Read More

The Turkey Trend

Finance By David Stockman.  |  August 28, 2018

If it can’t go on forever it will stop.Read More

Inflation: The New Old Thing or the Old New Thing?

Finance By David Stockman.  |  August 24, 2018

Mere inflation – that is, the mere issuance of more money, with the consequence of higher wages and prices – may look like the creation of more demand.Read More