David Stockman

As Michael Saylor puts it, “The road to serfdom consists of working exponentially harder in order to earn a currency growing exponentially weaker.”

The chart below tells you why the Fed and its Wall Street megaphones can’t figure out what is actually happening to the US economy; and, also, why the White House is hopelessly out to lunch in its claims that Bidenomics has been a roaring success. To paraphrase the Captain in Cool Hand Luke, what we’ve got here is failure to calculate. That is, the US economy has been radically tortured and twisted by the pandemic era lockdowns and stimmies. So normal economic activity that was disrupted and deferred during the worst lockdown quarters of 2020-2021 has now re-emerged in 2022-2024. … Continue reading →

The 2024 election contest between Biden and Trump is farcical not just because it pits the mentally lame against the egomaniacally blind. The more compelling absurdity is that America is now hurtling headlong into an existential fiscal crisis, but neither candidate ever mentions this clear and present danger, let alone proposes even a semblance of a remedial plan. During his recent State of the Union (SOTU) address, for instance, Joe Biden even had the nerve to brag that “I’ve already cut the federal deficit by over one trillion dollars”. Well, actually aside from the $6 trillion of UniParty deficits he … Continue reading →

Speaker Johnson's ignominious betrayal of fiscal sanity might well be the death knell for the GOP.

When it comes to Keynesian central banking, it might well be said that if you paint by the numbers you are stuck with the brush. That is to say, the Fed has turned its 2.00% target into an economic holy grail and therefore does not dare risk a rebound of the 40-year high inflationary pressures that remain directly in the rearview mirror. Yes, the inflation gauges have cooled considerably since the 9% CPI (Consumer Price Index) peak of June 2022, but the Fed is not yet remotely out of the woods. In fact, when the inflation tide is viewed through … Continue reading →

The clusterf*ck in the US House of Representatives this past weekend is surely the final straw.

: What is the role of a justice system in a society, and what should the State have to do with it?

This is an excerpt from David Stockmans book Trump’s War on Capitalism. The GOP primary season has come alive, and the state of play is abysmal. Front and center there is Donald Trump, while everyone else, including a few real Republicans and several neo-con fakers, stumble along far in the rear. And that’s a terrible shame. America desperately needs a return to old-fashioned GOP governance, yet Donald Trump is not remotely a conservative, let alone even a half-assed Republican. As it is, he fluked into the Oval Office in November 2016 and pro- ceeded to wantonly abandon Republican economic doctrine … Continue reading →

This is an excerpt from David Stockmans book: Trump’s War on Capitalism. The Donald’s fourth year in the Oval Office was a disaster. The US economy literally collapsed after February 2020, but there is no way that Donald Trump gets a free hall pass for the Washington-instigated economic mayhem that transpired. Trump’s original sin was his whole-hearted embrace from the bully pulpit on March 16 of the “two weeks to flatten the curve” scheme, which was actually never about two weeks. It is now evi- dent that Fauci’s deputy came back from China in February 2020 singing the praises of its … Continue reading →

As it happened, the US Congress acted like greased lightning, enacting the $2.2 trillion CARES act virtually sight unseen just eleven days after The Donald’s March 16 press conference initiated the Covid lockdowns. The bill was over eight hundred pages long and included a more ostentatious cornucopia of spend- ing authorities and free stuff than had ever before been imagined in even the most profligate quarters of Capitol Hill. This tsunami of money amounted to roughly $6,000 for every man, woman, and child in America, or 45 percent of all federal government expen- ditures in 2019.