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The Coming Fiscal Derailment – Stockman Explains Why FY 2019 Will Sink The Casino

Authored by David Stockman via Contra Corner blog, Since last November 8th the Russell 2000 has risen by 30% and the net Federal debt has expanded by an astounding $1.0 trillion dollars. In a rational world operating with honest financial markets those two results would not be found in even remotely the same zip code; and especially not in month #102 of […]


“Somebody Screwed Up” – House Must Vote Again On Tax-Reform Plan After Procedural Snag

Update: In an interview with MSNBC's Chuck Todd, Louisiana Senator John Kennedy offered the most honest explanation yet for the Senate Parliamentarian finding that three provisions in the final Trump tax bill violate Senate budget rules – meaning that the House will need to hold another vote on the bill. "Somebody screwed up," Kennedy said. […]


House Must Vote Again On Tax-Reform Plan After Procedural Snag

In an embarassing reversal of what House Republicans had celebrated as a done deal, the House will need to vote again on the final version of the tax reform plan passed earlier this afternoon. The second vote is the result of a technicality in one of the bill's provisions. According to Bloomberg, the Senate parliamentarian […]


Blow.Off.Top.

Authored by Sven Henrich via NorthmanTrader.com, No period is worse for bears than when it’s the best time to sell stocks. It’s the polar opposite of when conditions are worst for bulls, right when it’s the best time to buy as it was in January-March 2009. The exhaustion factor is enormous. It’s called capitulation as […]


Stockman: “Bitcoin Is The Poster-Boy For An Unhinged Financial System”

Authored by David Stockman via Contra Corner blog, The lemmings are now in full stampede toward the cliffs. You can literally hear the cold waters churning, foaming and crashing on the boulders far below. From bitcoin to Amazon, the financials, the Russell 2000 and most everything else in between, the casinos are digesting no information except the price […]


In Critical Test Of Tax Reform Bill, Senate Narrowly Approves Motion To Start Debate With 52-48 Vote

Update (5:55PM EST): After a full day of debating the GOP tax reform bill, the Senate has now approved a motion to…drum roll please…debate the GOP tax reform bill.  As we detailed below, this was the first big test for the GOP’s tax bill before the entire Senate and it narrowly passed with a vote […]


GOP “Lovefest” Or McCain Mayhem: McConnell Says Crucial Procedural Vote On Tax Bill Coming Later Today

Just yesterday a 12-11 party-line vote in favor of the tax reform bill by the Senate budget committee allowed Mitch McConnell to breathe a temporary sigh of relief after earlier objections by GOP members left many wondering whether the bill would even make it out of committee.  Now, the controversial legislation is set for its […]


GOP “Lovefest” Or McCain Mayhem: Crucial Procedural Vote On Senate Tax Bill Expected Later Today

Update (3:15PM EST): Senator Lisa Murkowski (R-AK), who was a key swing vote against several Obamacare repeal and replace bills earlier this year, has confirmed that she will vote in favor on the Senate’s tax bill. Alaska’s Sen. @lisamurkowski will vote YES on the GOP tax bill, her office tells me. — Garrett Haake (@GarrettHaake) […]


Congress Is Bracing For A “Nightmare” December

Since President Donald Trump took office in January, the GOP Congressional leadership has repeatedly failed to corral the votes needed to transform the president’s legislative agenda into law, largely thanks to the Republicans’ razor-thin majority in the senate, which has bred factionalism and encouraged senators to play hardball to try and strong-arm the leadership into […]


How Tax Reform Can Still Blow Up: A Side-By-Side Comparison Of The House And Senate Tax Plans

To much fanfare, mostly out of president Trump, on Thursday the House passed their version of the tax bill 227-205 along party lines, with 13 Republicans opposing. The passage of the House bill was met with muted market reaction. The Senate version of the tax reform is currently going through the Senate Finance Committee for […]


Why America’s Retail Apocalypse Could Accelerate Even More In 2018

Authored by Michael Snyder via The Economic Collapse blog, Is the retail apocalypse in the United States about to go to a whole new level?  That is a frightening thing to consider, because the truth is that things are already quite bad.  We have already shattered the all-time record for store closings in a single […]


How The Fed Destroyed The Functioning American Democracy And Bankrupted The Nation

Authored by Chris Hamilton via Econimica blog, I hope this article brings forward important questions about the Federal Reserves role in the US and I openly admit this is by no means a comprehensive article…it simply attempts to begin a broader dialogue about the financial and economic impacts of allowing the Federal Reserve to direct America's […]


Tax Bill Fiasco: Senate Considering 1 Year Corporate Tax Cut Delay; Dollar Slides

Suddenly Republican tax reform is looking deader than a doornail. According to the Washington Post, which cites “ four people familiar with a draft of the legislation ” not only is there little to no compromise on the way forward, but the only thing Senate Republicans leaders can agree on is to punt the centerpiece of […]


Stockman Exposes “The Black Swan In Plain Sight” – Debt Out The Wazoo

Authored by David Stockman via Contra Corner blog, The black swan in plain sight does emit the Donald's orangish glow, but at the end of the day its true color is actually red. That is, monumental towers of rapidly rising debt loom everywhere on the planet. For the moment, the artificial cash flow from this unsustainable borrowing spree is keeping a simulacrum of growth […]


The ‘War On Terror’ Has Cost American Taxpayers $250 Million A Day For 16 Years

Authored by Darius Shahtahmasebi via TheAntiMedia.org, The U.S. government has spent a staggering $1.46 trillion on wars abroad since September 11, 2001, according to the Department of Defense’s (DoD) periodical “Cost of War” report. As International Business Times reports, this amounts to $250 million a day for 16 years consecutively. The newly released version, published by the […]