Wednesday, March 12, 2014

A New Blog From David Stockman

David emails:

I am launching a blog called  David Stockman's Contra Corner. That would be as in contrarian!

Attached is a link to my inaugural post entitled "Yellenomics: The Folly of Free Money".

David is also author the must read financial history, The Great Deformation: The Corruption of Capitalism in America. This is the best history of modern day US financial history that I have come across. If you want to know the truth about the Cold War wasteful build-up, government finances while  Reagan was in the White House and what really occurred during the 2008 financial crisis. This is the book to read.


  1. Please also see:

    Very well reasoned Post and a very good read.


  2. Bank of England Drops a Bombshell on Parliament: It Shredded Its Crisis Era Records

    By Pam Martens: March 12, 2014

    The bombshell of the day, however, did not occur during the session on the Foreign Exchange scandal, which is stacking up to be a more serious matter than the rigging of the Libor interest rate benchmark which occurred under the nose of the Bank of England and the British Bankers Association. (London now seems to be in competition with itself for the prize of the century for overseeing the rigging of the greatest number of markets.)

    The bombshell came in the following exchange between the Chair of the Treasury Select Committee, Andrew Tyrie, and a very frightened appearing Paul Fisher, the Executive Director of Markets at the BOE, who has served in that position since 2009. Apparently neither Parliament nor the public knew prior to this exchange that the records of the pre-crisis year of 2007, the financial collapse in 2008, and the monetary policy maneuvers in subsequent years to prevent another Great Depression had been destroyed in one of the world’s most important financial centers; not to mention the fact that critical recordings potentially relevant to the Foreign Exchange probe are also gone.