Why China Will Implode: It’s A Monumental Building Aberration, Not An Economy
by David Stockman • • Comments Off on Why China Will Implode: It’s A Monumental Building Aberration, Not An Economy
The Growing Catastrophe Known as Abenomics
by David Stockman • • Comments Off on The Growing Catastrophe Known as Abenomics
Beijing’s Efforts To Slow Credit Bubble Will End in Catastrophic Fail
by David Stockman • • Comments Off on Beijing’s Efforts To Slow Credit Bubble Will End in Catastrophic Fail
The “Low-flation” Myth: Inflation That Is Seen And Not Seen
by David Stockman • • Comments Off on The “Low-flation” Myth: Inflation That Is Seen And Not Seen
Wall Street’s “Escape Velocity” Hoax
by David Stockman • • Comments Off on Wall Street’s “Escape Velocity” Hoax
Paul “Contrafactual” Krugman: The Laureate of Keynesian Babble
by David Stockman • • Comments Off on Paul “Contrafactual” Krugman: The Laureate of Keynesian Babble
Why The Wall Street Casino Lives On
by David Stockman • • Comments Off on Why The Wall Street Casino Lives On
David Stockman lashes out at the LBO of Extended Stay, a scam that made Blackstone billions, and saddled taxpayers with the detritus. It’s perhaps the most brilliant explanation ever as to why the Fed bailouts of Wall Street were an asinine idea that benefited the “0.0001%” but hurt everyone else, including taxpayers and the main-street economy.
David Stockman: Extended Stay And The Wall Street Meth Labs
by David Stockman • • Comments Off on David Stockman: Extended Stay And The Wall Street Meth Labs
Wachovia and other banks funded the $7.4 billion debt portion of the Extended Stay LBO, knowing the company was worth only $4.8 billion at the most. The loan was then rolled into structured finance securities – “designed to turn a sow’s ear into a silk purse,” David Stockman writes – and stuffed into the Wall Street meth labs until the very end.
David Stockman: Monetary Central Planners And Financial Manias
by David Stockman • • Comments Off on David Stockman: Monetary Central Planners And Financial Manias
“One of the hallmarks of financial manias is that propositions which are perfectly absurd nevertheless get widely embraced by those caught up in the excitement,” writes David Stockman – in this case, Blackstone’s LBO of Extended Stay Hotels, and its subsequent sale at a ridiculous three times replacement cost, funded by Citibank … a pre-packaged scam.