Joe Doakes from Como Park emails:
I was worried about a stock market crash in October so I got out of the market.
Now it’s peaking, record highs.
I’m not convinced anything has changed. The fundamentals still feel phony. It’s irrational exuberance.
Of course, I’m also missing out on the gains. Time to jump back in? What say SITD readers?
Joe Doakes
Open floor.
by
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Central banks are a good idea if their scope is limited to just backing up financial institutions in a punitive way. If they do anything else—-> YOU ARE HERE.
The Fed has been complete bullshit from day one.
FED whats it called? His book? a link would be apprecaited as well
This is the book.
IMO, these are his best interviews on the book. (If Stockman gets the wrong kind of interviewer he never takes a breath, so be warned. He’s like an Alex Jones wind up doll.)
http://contrakrugman.com/ep-60-krugman-copes-with-trump-special-guest-david-stockman/
OK it’s waiting for moderation by Mitch. Too many links like spam or something.
It’s called “Trumped”
This is a good rudimentary introduction. https://mcalvanyweeklycommentary.com/ica092910/
The solutions this guy proposes are totally leftist like Larry Summers but it’s a very clear and basic illustration. He got interviewed a few years later on the same site, too.
Here is the link to the book https://smile.amazon.com/Trumped-Nation-Brink-Ruin-Bring/dp/1621291847/ref=sr_1_1?ie=UTF8&qid=1481704984&sr=8-1&keywords=trumped+david+stockman
Once Mitch “moderates” my post above because I get a little over excited about this stuff with links, you will see some good podcasts of Stockman.
Unless you read that book, you don’t understand reality and I’m dead serious. All of the doomsday machine of Fed easy money and centralized government since Woodrow Wilson is now imploding as it ineluctably has to, accelerated by VOTING. Democracy sucks. It really does. The founders knew that.
The simplest way to understand this is, the West has to start “cooperating” with the wage deflation from technology and globalized labor. The system won’t do this because the system —rent seeking, government graft and dependency— is dependent on taxing inflation to fund it’s self. So we are going to get a global implosion of debt fueled asset bubbles. The Left can fight for 15 all they want but the money—the productivity— isn’t there. The lower 90% are only going to experience the normal improvement of living standards via the natural price deflation we had before the menace of modern central banking.
The Left’s reason for existence—Neo Keynesianism— is about to evaporate big time. Their only option is violence and state force. Thank God for the Second Amendment. .
This is a non-hysterical discussion of this subject that fills in a bunch of gaps. http://www.jasonstapleton.com/bob-murphy-talks-trump-tariffs-and-obamacare/
Regarding the comment about Stockman living in NYC: all I can say is he’s got a lot more access to how things are breaking and how soon. All he’s saying is the economy, finance and government is about to get massively overhauled the hard way.
FWIW, I say a guy on Real Vision say that intelligently overhauling the health insurance system is a five alarm emergency for the economy. The Democrat party just made a bad situation much, much worse.
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