Saturday, February 25, 2017


Just a reminder that David Stockman still thinks a recession is already baked into the cake for America.  The giddy optimism of Trump cutting through bureaucracy, getting rid of an expensive ACA, and no longer paying for problematic illegals has not moved Stockman's opinion an inch.  His premise is that 1) crony capitalism is still regnant, combining the worst aspects of socialism and capitalism for an ultimate lose-lose 2) public debt is a killer, 3) government is ever-larger, and 4) the people ruling us are less than half as smart as they think they are.

You will note that this is remarkably close to Nicholas Nassim Taleb's list.  Humorously, Stockman's current lead essay is "The Orange Swan."

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