“Contrary to yesterday’s self-congratulatory statement, all is not well and its not getting weller. Instead, what we really have is net business destruction, faltering investment in productive assets, massive unutilized and under-utilized labor hours, falsified capital market prices, grotesque mis-allocation of investable funds, euthanized savers, zombified business enterprises, rampant financial engineering, stock-option addicted C-suites, massive waste of VC capital and stupendous over-valuation of every asset class that can be monetized, manipulated or margined.” Part 1. The Fed’s Bathtub Economics Brigade Blathers On | David Stockman’s Contra Corner

Contrary to yesterday’s self-congratulatory statement, all is not well and its not getting weller. Instead, what we really have is net business destruction, faltering investment in productive assets, massive unutilized and under-utilized labor hours, falsified capital market prices, grotesque mis-allocation of investable funds, euthanized savers, zombified business enterprises, rampant financial engineering, stock-option addicted C-suites, massive waste of VC capital and stupendous over-valuation of every asset class that can be monetized, manipulated or margined.

via Part 1. The Fed’s Bathtub Economics Brigade Blathers On | David Stockman’s Contra Corner.

“Given that the “normal rules” of American politics have delivered America into the hands of a permanent ruling class content to preside over a hyper-regulated, corrupt, cronyist, indebted borderless ruin mitigated according to taste by a deranged hyper-sexualized identity-politics totalitarianism hunting down homophobic bakers and confederate-flag decals, I’m rather relaxed about that.” The Consultant-Industrial Complex :: SteynOnline

Given that the “normal rules” of American politics have delivered America into the hands of a permanent ruling class content to preside over a hyper-regulated, corrupt, cronyist, indebted borderless ruin mitigated according to taste by a deranged hyper-sexualized identity-politics totalitarianism hunting down homophobic bakers and confederate-flag decals, I’m rather relaxed about that.

via The Consultant-Industrial Complex :: SteynOnline.