Federal Reserve

Comfort Woman for the War Party

By David Stockman  |  January 28, 2019

Freedom of the press, if it means anything at all, means the freedom to criticize and oppose.

– George Orwell, “The Prevention of Literature” (1946)

They call The New York Times “The Old Gray Lady.”

Here’s a bit from Life published September 17, 1951, the first time that epithet was deployed:

The Old Gray Lady will celebrate her 100th birthday this Sept. 18. The “lady” is a newspaper – the New York Times – regarded by many in the world at large (and all within its own world) as the world’s greatest. And newsmen generally hail it as “old” and “gray” by way of acknowledging its traditional special marks: starch conservatism and circumspection.

The “starch conservatism” washed out a long time ago.

The “circumspection” applies to “all the news that’s fit to print”… unless it undermines the War Party.

Not so long ago, any journalist who typed the words “whether Mr. Trump was knowingly working for Russia or unwittingly fallen under Moscow’s influence” would have suffered for just the poor phrasing of it.

Not Adam Goldman, Michael Schmidt, and Nicholas Fandos. This is the trio that by-lined the infamous “F.B.I. Opened Inquiry Into Whether Trump Was Secretly Working on Behalf of Russia” tale…

Here’s their “killer” ’graph:

Mr. Trump had caught the attention of F.B.I. counterintelligence agents when he called on Russia during a campaign news conference in July 2016 to hack into the emails of his opponent, Hillary Clinton. Mr. Trump had refused to criticize Russia on the campaign trail, praising President Vladimir V. Putin. And investigators had watched with alarm as the Republican Party softened its convention platform on the Ukraine crisis in a way that seemed to benefit Russia.

How in the world of constitutional government, free speech, and open elections does the Tweeter-in-Chief’s refusal to criticize a foreign leader constitute something worthy of a counterintelligence investigation?

Folks, that’s the stuff of McCarthyite code for unmasking commie traitors.

There’s no other way to say it: The Goldman-Schmidt-Fandos types are not journalists at all. They are intellectually corrupted, mendacious stenographers of Imperial Washington group-think.

The New York Times once, courageously, published the Pentagon Papers. It was about journalistic stateliness, a sense of responsibility, possessed of high virtue…

Now, it’s degenerated into a War Party shill.

The intrepid mainstream journalists of the 1980s still had the Sheehan-Halberstam-Hersh investigative spirit and courage about them. It didn’t take too many years for their exposes to make Ronald Reagan’s “Star Wars” program the laughingstock it actually was.

Their rebukes to the Deep State narrative emboldened a bipartisan opposition on Capitol Hill. And “Star Wars” was essentially shut down.

Here’s the thing.

Until Imperial Washington congealed in mutual worship of the Warfare State after September 11, 2001, any self-respecting journalist would have asked, under what constitutional scheme does a second-tier law enforcement agency have the prerogative to investigate a duly elected president?

Because he fired the FBI director for good cause?

Because he rejected the prevailing anti-Russia foreign policy for solid reasons of national interest?

Because he knew the Russian collusion meme is Democrat sour grapes for losing an election?

In the old days, journalists had the integrity and the courage to speak truth to power.

By contrast, the Goldman-Schmidt-Fandos types are too lazy, too focused on climbing up to MSNBC and CNN to connect dots that frame the Warfare State in any but the purest light…

The Great Disruptor’s “original sin” is that he doesn’t embrace Imperial Washington’s self-conferred role as the Indispensable Nation.

He may even be of a mind to thwart the Warfare State’s noble efforts to spread “our democratic ideals” and the blessings of Coca-Cola, long pants, and the ballot box to the otherwise benighted peoples of Earth.

You only need a decent regard for the global mayhem our shitty duopoly has brought to the world – from the jungles of the Mekong Valley to the Hindu Kush to Mesopotamia to the Levant to North Africa to Latin America – to wonder…

Are you f*cking kidding me?

The Truth About Your Portfolio

The crash of 2008-09 was not some “once in 500 years” economic ailment that needed to be “healed” with “extraordinary” policies like “ZIRP” and “QE.”

To the contrary, the Great Financial Crisis was an intense but standard-issue bursting of a bubble. It’s the inherent result of monetary central planning and the systematic falsification of financial asset prices.

It’s going to happen again.

But it won’t be “all at once,” nor will it be a straight line down.

But we must prepare for a major re-pricing for all financial assets. And thousand-point intraday or day-to-day swings are part of that equation. Those can be frightening… for “buy and hold” investors.

I have a different approach, one that combines strategy and tactics into a plan flexible enough for you to survive and thrive amid the coming chaos. It’s called “The Stockman Model.”

All we’re after is a little stability, perhaps a chance to pocket a windfall when opportunity presents…


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David Stockman

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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