We are in a whole new ballgame!

Both Wall Street and Washington have gone off the deep-end—spending, borrowing, printing and speculating like never before in history.

In just the last 365 days, Congress has enacted $6 trillion of Covid-Lockdown bailouts—a figure 7.5X the $800 billion loss of GDP during the same period. It’s also $49,000 for every single household in America.

Likewise, the Fed’s balance sheet has erupted from an already bloated $4.2 trillion a year ago to $7.6 trillion now.

This means nearly 100% of Washington’s explosion of borrowing and spending is being monetized—-that is, financed with Fake Credits snatched from thin air by the mad money-printers at the Fed.

But the laws of sound money, fiscal rectitude and economic gravity can’t be defied indefinitely. There will eventually be a horrible reckoning, possibly soon.

So now is the time to get informed, focused and prepared.

That’s the mission of David Stockman’s Contra Corner.

Five days per week we provide facts, charts, history, analysis, assessments and warnings about the madness at loose on both ends of the Acela Corridor connecting Washington and New York.

We don’t buy the mainstream narrative about most everything: The Awesome Economy, the beneficent Fed, booming stocks, the Fauci Lockdowns, the Forever Wars, the Climate Crisis, the Woke Awakening and the rest of the Fake Narrative promulgated by the liberal elites.

And we also take with a grain of salt the phony bickering among the bipartisan duopoly. Both sides are overwhelmingly in the business of perpetuating their tenure in office and assiduously milking the Washington gravy train of lobbies, PACs and organized racketeering to do so.

Instead, we dissect the headlines and hot spots of the day from a fiercely independent vantage point based on 50-years of experience on both ends of the Acela Corridor: As a US Congressman, President Reagan’s budget director, Wall Street investment banker, original partner of the Blackstone Group, private equity investor and best-selling author.

1/30/1981 President Reagan and David Stockman meeting on the economy in the Oval Office

Unlike the MSM megaphones and groupthink transmitters, we have a filter.

It’s rooted in a firm belief in personal liberty, free market capitalism, sound money, non-intervention abroad and heavily shackled government at home.

When the current headlines, in-coming data, longer-term trends and relevant history is strained through these filters, you get an unvarnished picture of reality that the mainstream media and partisan hucksters from both sides of the aisle do their level best to bury.

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So Buckle-Up Real Tight!

Unprecedented Political and Financial Shocks, Spills and Booby-Traps Lie Dead Ahead.   

America’s Decades-Long Folly Has Reached the Breaking Point Owing To—

      • • Massive Fed Money-Printing;
        • Reckless Government/Business/Household Borrowing;
        • Unhinged Wall Street Speculation;
        • Corrupt Bipartisan Racketeering and Incumbency Protection Schemes in Washington;

Covid-19 Was Just the Pin That Shattered the Financial Fantasy and Sent 70 Million Americans Streaming to the Unemployment Offices.

At the Same Time, the Resulting Discombobulated “Mail-In” Election Shattered What Remained Of a Functioning Government In Washington.

The Blame Has Many Financial Authors—

      • •Greenspan, Bernanke, Yellen, Powell…. Plus Wall Street Cheerleaders and Keynesian  Economists, Who Have Thrived On The Folly Of Rampant Monetary Stimulus       

        •It Also Includes a Long-String of Elected Politicians Who Recklessly Courted Disaster—The  Bush’s, Clinton, Obama, Trump, Pelosi, Schumer and Now After 47-Years On the Public Teat, Sleepy Joe Biden, Too

The Desperate Money-Pumping by the Fed and Fiscal Incontinence of the Politicians Fueled False Prosperity on Main Street and Rampant Speculation and Immense Financial Bubbles on Wall Street.

It Also Generated Hideous Windfalls to the 1.0%, 0.1% and Billionaires Who Own Nearly 90% of the Stock—Even As Real Wages and Living Standards Stagnated In Flyover America

Then, Wanna Be Medical Dictators, Hysterical Media and Power Hungry Politicians Imposed Lockdown Nation…..Sending the US Economy into the Tank and Unemployment Soaring.

Like Always, Main Street Has Been Left High & Dry, Ensnared In the Lies, Scams and Self-Serving Mendacity of the Washington-Wall Street Axis

But Contra Corner’s Got You Covered

We Think They’re All Fools & Clowns…

We Lay Out Exactly Why 5 Days Per Week…

And For Just $1 Per Day!

Perspective, Perspective, Perspective!

That’s what Contra Corner provides. A framework for interpreting and assessing the flow of mainstream events and news which are usually not what they are cracked-up to be.

In this context, the botched mail-in election of 2020 was just the final straw, even as the coronavirus pandemic and lockdowns had already exposed a far more deadly disease.

Namely, the poisonous brew of easy money, cheap debt, sweeping financialization and unbridled speculation that has been injected into the American economy by the Fed and Washington politicians over the last three decades. This has—

      • Turned Wall Street into a dangerous gambling casino that has siphoned trillions of cash from corporate America to fund stock buybacks, M&A deals and other forms of unproductive financial engineering
      • While leaving Main Street buried under mountainous debts and faltering investment in growth and productivity
      • The result was a society addicted to the hand-to-mouth economics of spending more than you earn

It has also left the American economy exceedingly vulnerable to external shocks like the thundering blow of Lockdown Nation and the now incepting period of virtual partisan civil war brought on by the Biden/Dem control of both ends of Pennsylvania Avenue.

America’s dangerous economic fragility stems in part from the fact that—

      • 80% of households have no appreciable liquid savings or rainy-day funds
      • Businesses have piled their balance sheets sky high with debt and artificially extended their supply chains to the four corners of the earth in order to goose short-run profits and share prices—the risks be damned.

Needless to say, this unprecedented fragility became starkly evident after public health authorities essentially shut down normal commerce and economic function last spring. Workers were separated from their workplaces, consumers from the malls, diners from the restaurants, travelers from the airlines, hotels and resorts etc.

In turn, these disruptions caused production and incomes to fall abruptly. And now shrunken household incomes and business cash flows are literally pulling the legs out from under the $82 trillion edifice of debt and speculation that has been piled atop the American economy.

So both a renewed financial and economic crisis and an abrupt change of course lie dead ahead.

The 30-year party of False Prosperity is over!

Even if the Covid-19 hysteria eventually abates and the albatross of Lockdown Nation is lifted, the 2020s will be a decade when the chickens come home to roost.

As the next four years unfold, they may occasionally oxygenate and prop up Sleepy Joe in front of the Oval Office teleprompter to talk unity and hope. But the Kamala Harris/Progressive Left Regency will only massively exacerbate the crisis with a tsunami of new spending, borrowing, regulating, taxing and Nanny State meddling.

And if you overlay on all that a renewed Biden-promised burst of unconstitutional assaults on personal liberty, private property and business enterprise—then the limits of kicking the cans of delay and denial down the road to tomorrow will be reached.

Indeed, America’s economic and political fantasies will soon be overtaken and crushed by its accumulated due bills.

      • Bubbles will be burst.
      • Speculators will get carried out on their shields.
      • Easy money wealth will evaporate.

So that’s why you need to get prepared now. And one good way to start is with a subscription to David Stockman’s Contra Corner.