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Archive for the David Stockman Category

Powdering The GDP Pig – There Was No Escape Velocity Inside – David Stockman’s Contra Corner 10-30-15

Salient to Investors: David Stockman writes: The global economy is in deflation and the US economy is stalling and within months will be in recession and the market in panic. The Fed cannot prevent the US economy from sliding into the global slump. Since 2000, the Fed has twice before pushed on a

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Wall Street’s Latest Bounce – Ostrich Economics At Work – David Stockman’s Contra Corner 10-20-15

Salient to Investors: David Stockman writes: The price of financial assets is now artificial and wildly inaccurate. $300 trillion of global finance cannot remain stable much longer. Bulls believe the Fed is on hold until at least next March, while Wall Street is projecting S&P 500 earnings of $130 per share on an ex-items basis for

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We’ve Seen This Picture Before – Global Markets Down $13 Trillion Already – David Stockman’s Contra Corner 09-29-15

Salient to Investors: David Stockman writes: The global economy is drastically overbuilt on $225 trillion of debt. The 2008 collapse was quickly arrested by unprecedented central bank money printing, which is unavailable this time around because interest rates cannot go any lower and QE does not stimulate economies at peak debt, and only inflates financial

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Inflation Targeting Unmasked – The August CPI Crushed The Case For ZIRP – David Stockman’s Contra Corner 09-17-15

Salient to Investors: David Stockman writes: The August CPI gives the Fed an excuse to keep shoveling free money into the casino. No Fed rate increase would be a clear indication of its fear of reining in Wall Street’s greedy and gamblers and that Keynesian central banking in the last two decades

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David Stockman Interview On Yahoo – The Fed Painted Itself Into A Corner, Confidence In The Casino Is Headed For A Fall – David Stockman’s Contra Corner 09-17-15

Salient to Investors: David Stockman said: The Fed is on a jihad against retirees and savers. 80 months of ZIRP has not helped the economy because we are at peak debt, with US business $12 trillion in debt, versus $10 trillion before the crisis. The massive money printing has all

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The Truly Stupid Case For More ZIRP – David Stockman’s Contra Corner 09-16-15

Salient to Investors: David Stockman writes: The global economy is transitioning into a deep deflation. Irving Kellner erroneously recommends the Fed delay its rate hike for reasons including the recent plunge in stock prices, the market’s dislike of an end to the easy money which has kept it afloat, and because all

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Why The Keynesian Chorus Is Cackling Like Chicken Little – David Stockman’s Contra Corner 09-09-15

Salient to Investors: David Stockman writes: Artificial monetary bubbles always crash. However, if the Fed listens to Wall Street and does not raise interest rates expect a short-lived run to the May 2015 highs before the ultimate day of reckoning. ZIRP has not caused a credit fueled inflation of either the

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Why Hedge Fund Hot Shots Finally Got Hammered – David Stockman’s Contra Corner 09-06-15

Salient to Investors: David Stockman writes: A growing chorus of investors blamed last week’s stock market sell-off on esoteric but increasingly influential trading strategies pioneered by hedge funds like Bridgewater. Hedge fund performance has benefited from broken capital markets rigged by the Fed. Thesecasino gamblers bought every one of the

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This Is Not A Retest – Its A Live Bear! – David Stockman’s Contra Corner 09-03-15

Salient to Investors: David Stockman writes: US stocks are in a bear market. Honest financial markets would have sold off long ago, but for central bank falsification of asset prices. The S&P 500 is at 20 times trailing earnings as of June 2015: $97.32 per share versus $103.12 at the end of

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The US Economy Is Not Awesome And It’s Not Decoupled – David Stockman’s Contra Corner 09-01-15

Salient to Investors: David Stockman writes: Reliable signs of an economic recovery are few. Housing has not moved at all. Private construction spending is 7% below December 2007 levels, 43% below its early 2006 peak, at January 2002 levels nominally, and 1992 levels when adjusted for inflation. Spending is 2.1% of

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