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The Day The Mule Died

Summary:
Well, that was clarifying. The PPI for all commodities came in at 19.9% for August, representing the highest YoY gain since, well, the peak of the oil embargo in November 1974. As shown below, none of the other post-war cyclical flare-ups even came close. And by now it’s also time to dispense with the silly […]

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Well, that was clarifying. The PPI for all commodities came in at 19.9% for August, representing the highest YoY gain since, well, the peak of the oil embargo in November 1974. As shown below, none of the other post-war cyclical flare-ups even came close. And by now it’s also time to dispense with the silly […]
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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