Keyword: stockman

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  • Stockman: "After March 15 Everything Will Grind To A Halt"

    02/26/2017 2:39:01 PM PST · by blam · 97 replies
    Zero Hedge ^ | 2-26-2017 | Tyler Durden
    Two weeks after David Stockman warned that "the market is apparently pricing in a huge Trump stimulus. But if you just look at the real world out there, the only thing that's going to happen is a fiscal bloodbath and a White House train wreck like never before in U.S. history" and exclaimed that, when looking at markets, "what's going on today is complete insanity" he is back with another interview, this time with Greg Hunter of USAWatchdog in which he, once again warns, that a giant fiscal bloodbatch is coming soon, and urges listeners to pay especially close attention...
  • Trump to oversee ‘fiscal bloodbath’ instead of prosperity, says Reagan OMB director

    01/23/2017 10:42:20 AM PST · by Lorianne · 47 replies
    CNBC ^ | 21 January 2017 | Brian Price
    Count David Stockman, former director of the Office of Management and Budget under Ronald Reagan, as one of the non-believers in the Trump rally and coming economic boom. U.S. markets have hit record highs since the election of President Donald Trump, and Wall Street continues to anticipate pro-business policies that will benefit banks and infrastructure. However, Stockman reiterated his warning on "Fast Money" that a financial meltdown was in the offing. On the eve of Trump's inauguration, the former director of the Office of Management and Budget offered a reality check for investors who thinks the days of Reagan prosperity...
  • David Stockman: National Debt is Ticking Time Bomb (Video -$20 Trillion Debt Ceiling)

    11/12/2016 7:14:14 AM PST · by Son House · 33 replies
    Wall Street Week ^ | Nov. 11, 2016 | Gary Kaminski and Anthony Scaramucci
    Former Reagan Budget Director David Stockman on the need to rein in America's mounting debt. "We'll hit the next recession with nothing to break the fall." On the GDP, "The growth in the baseline is totally unrealistic." Stockman also discusses a new Federal Reserve Chief, "Get the Keynesian money-printers out".
  • Helicopter Money——The Biggest Fed Power Grab Yet

    07/16/2016 10:01:58 PM PDT · by amorphous · 8 replies
    Stockman's Corner ^ | 14 July 2016 | David Stockman
    The Cleveland Fed’s Loretta Mester is a clueless apparatchik and Fed lifer, who joined the system in 1985 fresh out of Barnard and Princeton and has imbibed in its Keynesian groupthink and institutional arrogance ever since. So it’s not surprising that she was out flogging—-albeit downunder in Australia—- the next step in the Fed’s rolling coup d’ etat. We’re always assessing tools that we could use,” Mester told the ABC’s AM program. “In the US we’ve done quantitative easing and I think that’s proven to be useful. “So it’s my view that [helicopter money] would be sort of the next...
  • Stockman: We are at peak debt headed for a recession

    01/21/2016 8:22:39 PM PST · by Pan_Yan · 59 replies
    CNBC ^ | January 21, 2016 | David Stockman
    Video at link. David Stockman (Office of Budget and Management, Reagan Administration) explains why the market will not be going up any time soon.
  • The Central Bankers’ Malodorous War On Savers

    08/28/2015 8:23:19 AM PDT · by PGR88 · 10 replies
    David Stockman's Contra Corner ^ | August 28, 2015 | David Stockman
    To wit, artificial suppression of free market interest rates by the central bank is designed to cause households to borrow more money than they otherwise would in order to spend more than they earn, pure and simple. Its nothing more than a modernized version of the original, crude Keynesian pump-priming theory—–except it dispenses with the inconvenience of getting politicians to approve spending increases and tax cuts in favor of the writ of a small posse of unelected monetary mandarins who run the FOMC and peg money market interest rates at will. But the whole enterprise is a crock. The consumer...
  • David Stockman Shock Blog: The Real Unemployment Rate Is 42.9%

    06/30/2015 3:23:27 PM PDT · by Kaslin · 61 replies
    Rush Limbaugh.com ^ | June 30, 2015 | Rush Limbaugh
    RUSH: Ladies and gentlemen, the unemployment rate, what is the latest reported unemployment, 5.5%, is that what it is, 5.3, 5.6? It's in that neighborhood, right? I don't know what the exact number is. Not that this matters to anything anymore. I mean, the truth is increasingly irrelevant. The truth is increasingly meaningless. In fact, there isn't any truth in way too much of the country. There is certainly no objective truth. Anyway, I have had, as you know if you listen regularly, I've had a lot of doubt about the accuracy of an unemployment rate of 5.5% when, at...
  • 10 members of Congress took trip secretly funded by foreign government

    05/13/2015 11:32:22 AM PDT · by Dave346 · 28 replies
    Salt Lake Tribune ^ | 29 minutes ago | Scott Higham, Steven Rich and Alice Crites
    Washington • The state-owned oil company of Azerbaijan secretly funded an all-expenses-paid trip to a conference at Baku on the Caspian Sea in 2013 for 10 members of Congress and 32 staff members, according to a confidential ethics report obtained by The Washington Post. Three former top aides to President Barack Obama appeared as speakers at the conference. Lawmakers and their staff members received hundreds of thousands of dollars' worth of travel expenses, silk scarves, crystal tea sets and Azerbaijani rugs valued at $2,500 to $10,000, according to the ethics report. Airfare for the lawmakers and some of their spouses...
  • Ex OMB chief Stockman: "It is the biggest speculative disaster in human history."

    03/31/2015 7:59:48 PM PDT · by concernedcitizen76 · 52 replies
    Zero Hedge ^ | March 01, 2015 | Tyler Durden
    David Alan Stockman interviewed on CBS-TV 60 Minutes (October 2010) Highlights of recent interview by Harry Dent. David Stockman: People don't want to hear the reality and the truth that we're facing. But I think there is an enormous appetite out in the country to get a different perspective than what you have from the media day in and day out, so I say the fed is out of control. Its balance sheet is exploded. It's printing money like never before. Zero interest rates for 70 months have basically destroyed the pricing function in the financial markets. I said...
  • The Great, Amazing, Incomparable Stan Evans is Dead

    03/05/2015 4:42:25 AM PST · by Kaslin · 3 replies
    Townhall.com ^ | March 4, 2015 | Ann Coulter
    "If and when Congress votes on a new immigration bill -- whatever the "triggers," timetables or other provisos -- the real issue to be decided will be the same as it has been from the beginning. That issue is whether the Republican Party, dazed from a daily pounding by the Washington press corps, will agree to commit political suicide by enfranchising 11 plus million illegal aliens on U.S. soil, the vast majority of whom will soon be casting Democratic ballots." So wrote the great M. Stanton Evans, who passed away on Tuesday. Having been at the forefront of the movement...
  • Commodity Prices Are Cliff-Diving Due To The Fracturing Monetary Supernova—The Case Of Iron Ore

    12/31/2014 6:13:00 AM PST · by Riflema · 65 replies
    davidstockmanscontracorner.com ^ | 12-30-2014 | David Stockman
    Crude oil is not the only commodity that is crashing. Iron ore is on a similar trajectory and for a common reason. Namely, the two-decade-long economic boom fueled by the money printing rampage of the world’s central banks is beginning to cool rapidly. (snip)Nowhere is this more evident than in China’s vastly overbuilt steel industry, where capacity has soared from about 100 million tons in 1995 to upwards of 1.2 billion tons today. Again, this 12X growth in less than two decades is not just red capitalism getting rambunctious; its actually an economically cancerous deformation that will eventually dislocate the...
  • Search for Lois Lerner's lost emails leads to NSA

    07/17/2014 8:10:38 AM PDT · by cotton1706 · 23 replies
    cbsnews.com ^ | 7/16/14 | Rebecca Kaplan
    The House Armed Services Committee has come up with a creative approach to look for emails from embattled former Internal Revenue Service (IRS) official Lois Lerner that were apparently lost in a computer crash: they're asking the National Security Agency (NSA) and the Defense Department. The panel approved a resolution Wednesday authored by Rep. Steve Stockman, R-Texas, that directs the Secretary of Defense to send the House of Representatives "copies of any electronic communication in the possession of the Secretary, the Director of the National Security Agency, or any office that reports to the Secretary or the Director that was...
  • BREAKING: Rep. Steve Stockman: Sgt. At Arms to Arrest Lois Lerner

    07/11/2014 7:39:46 AM PDT · by WhiskeyX · 31 replies
    Allen West Republic ^ | Jul 10, 2014 | Allen West Republic
    Jul 10, 2014 Press Release [....] WASHINGTON — Congressman Steve Stockman Thursday filed a resolution directing the House Sergeant-At-Arms to arrest former IRS Director of the Exempt Organizations Unit Lois Lerner on charges of contempt of Congress. “Asking the Justice Department to prosecute Lois Lerner for admittedly illegal activity is a joke. The Obama administration will not prosecute the Obama administration. How much longer will the House allow itself to be mocked? It is up to this House to uphold the rule of law and hold accountable those who illegally targeted American citizens for simply having different ideas than the...
  • Text of H.Res. 664, Providing for the arrest of Lois G. Lerner

    07/10/2014 3:37:41 PM PDT · by Ray76 · 19 replies
    Rep. Steve Stockman (TX-R) ^ | July 10 2014 | Rep. Steve Stockman (TX-R)
    The text of the resolution, H.Res. 664, follows. Providing for the arrest of Lois G. Lerner to answer the charge of contempt of Congress IN THE HOUSE OF REPRESENTATIVES Mr. STOCKMAN submitted the following resolution, which was referred to the Committee on ______________ RESOLUTION Providing for the arrest of Lois G. Lerner to answer the charge of contempt of Congress Whereas Lois G. Lerner, former Director, Exempt Organizations, Internal Revenue Service, has been found to be in contempt of Congress for willfully and intentionally refusing to comply with a congressional subpoena duly issued by the Committee on Oversight and Government...
  • Joe Barton to push immigration overhaul that includes path to citizenship & amnesty for all

    04/26/2014 3:05:31 PM PDT · by ObamahatesPACoal · 33 replies
    Dallas News ^ | Gromer Jeffers Jr.
    Rep. Joe Barton said Friday he was close to introducing a sweeping proposal that would overhaul the nation’s immigration system. The plan will include a path to citizenship for undocumented children and a mechanism to give legal status to adults in the country illegally who have not committed other crimes. Barton, R-Arlington, said his bill would be ready in a month to six weeks.
  • US Congressman to Submit Bitcoin Tax Bill

    04/08/2014 3:30:57 PM PDT · by Errant · 7 replies
    Coin Desk ^ | 8 April 2014 | Stan Higgins
    US Congressman Steve Stockman of Texas is preparing to introduce a new bill, the ‘Virtual Currency Tax Reform Act’, which, if passed, would tax bitcoins as currency instead of property. Currently, the US Internal Revenue Service (IRS) views bitcoin and other digital currencies as property. When someone sells their bitcoin or makes a purchase in bitcoin, they are subject to a 15% capital gains tax. Any wages paid out in digital currencies must also be reported to federal tax authorities.
  • Ft. Hood Shooter Ran Free for 15 to 20 Minutes — Before Being Stopped by Military Policewoman

    04/03/2014 10:04:37 AM PDT · by montag813 · 73 replies
    Top Right News ^ | 04-03-2014 | Gina Cassini
    by Gina Cassini | Top Right News Outrageous. Reckless. Senseless. That is what many military families are calling the continuing ban on concealed carry for servicemembers on U.S. military bases. Bases like Ft. Hood, where 3 brave members of our military were gunned down by an apparently mentally-compromised Spc. Ivan Lopez. And the outrage will only grow in light of a new shocking report that Lopez was able to remain free for 15 to 20 minutes -- more than enough time for him to kill 3 and wound 16 -- before finally being confronted by a military policewoman, whereupon he took...
  • John Cornyn crushes Steve Stockman as Texas votes

    03/04/2014 7:18:32 PM PST · by Innovative · 110 replies
    Politico ^ | March 4, 2014 | JAMES HOHMANN and KATIE GLUECK
    “We wish Senator Cornyn [the] best of luck in November and urge everyone to vote for, volunteer for and support the whole Texas GOP ticket,” Stockman tweeted just after The Associated Press called the race for Cornyn, with only about 2 percent of precincts reporting.
  • Tea partiers blast Stockman for lazy and unethical campaign; Stovall gets support

    03/01/2014 4:15:42 AM PST · by Din Maker · 30 replies
    The Dallas News ^ | February 27, 2014 | Todd J. Gillman
    A group of Texas tea party activists took Rep. Steve Stockman to task Thursday, issuing an open letter that depicts him as unethical and lazy, and certainly undeserving of promotion to the U.S. Senate. Instead, these activists are throwing their support behind Dwayne Stovall, another of the seven people challenging Sen. John Cornyn in Tuesday’s GOP primary. “As your campaign rolled into 2014, Texans have witnessed what might be the laziest statewide campaign to date. The media salted your staff with questions, but these questions were sneered at and rebuffed,” wrote the group, led by JoAnn Fleming, a Tyler activists...
  • I Called Stockman's Campaign HQ For an Update (Vanity)

    02/26/2014 8:01:58 AM PST · by Din Maker · 47 replies
    February 26, 2014 | Din Maker
    Early Voting began a week ago Monday here in Texas, and ends this Friday, February 28th. Many of us have worked hard to defeat John Cornyn in the March 4th Primary, or at least get him into a Run-Off Election and possibly "Cruz" him out of the Senate. We started out with a lot of expectation and enthusiasm; of which both seem to be dwindling somewhat. Why is that? Probably because only one candidate, seemingly, is even serious about defeating Cornyn. And it is NOT Mr. Stockman. Since he is my Congressman, I called his Congressional Office in my town...