David Stockman’s Contra Corner

Apple is right to look after the privacy interests of its customers, and to assist law enforcement where doing so is not detrimental to those interests. And the U.S. government’s law-enforcement and intelligence operatives are right to do what they can to learn what can be learned from the communications of terrorists such as Mohammed […]

SOX index earning are now lower than where they were when the index was over 40% lower!  

  In short, GDP attempts to measure the total value of finished goods and services produced in the nation in a given period—typically a year. But does this focus on final goods paint an accurate picture of total economic activity? As any reader of the classic Leonard Read essay “I, Pencil” can attest, the bulk […]

She also writes refreshingly and articulately in favor of the gold standard, or some version of it.The bad news is that she leans heavily toward supply-side economics, which is deeply flawed on monetary policy. Like most supply-siders, the position she advocates may be summed up in the motto, “I favor sound money—and plenty of it.” […]

Despite the fact that the bond market refuses to sell-off (as it should in a well-behaved market sending stocks to record-er and record-er highs each and every day), the levered long crowd has never been more “all-in” than they are right now. While stocks are at record highs, bond yields are plumbing 2 month lows… […]

Ultimately, the market will suss this out but the reality is that the Grand Solar Minimum is here and it’s playing havoc with the weather in ways which are simply not reducible to ‘CO2 bad mkay!…….. When Mark Carney, a central banker, is showing us maps of Florida before and after a 9 foot rise […]

There are a reported 119 billionaires attending the Davos confab this year—plus (allegedly) the Donald, who took a day off from Impeachment to address this august gathering of the world’s movers and shakers. There is also 1500 private jets crowding the surrounding airports—plus the notable train-traveling 16-year old expert on planetary climate science, Greta Thunberg. […]

The U.S. extradition proceedings against Chinese business executive Meng Wanzhou only goes to show the utter perversity of the U.S. government’s policy of imposing economic sanctions on foreign regimes and, in a larger context, the perversity of the entire U.S. foreign policy of interventionism and meddling in the affairs of other nations.       […]

Davos Man is richer than ever…..global billionaire wealth has grown from $3.4 trillion in 2009 to $8.9 trillion in 2017.Central bank actions to fight the financial crisis—record low interest rates and bond-buying programs—have underpinned this ballooning wealth by driving up the prices of stocks and other assets.“ http://archive.ph/zJLAs#selection-5875.0-5879.173