David Stockman, former Reagan OMB director, explains why he thinks the Romney-Ryan budget plan is a fantasy and shares his thoughts on the best way to restore the economy and create jobs. Here is a direct link.
I will be a guest on Money Talks radio today on the Corus radio network with Victor Adair who is standing in for the vacationing Michael Campbell. You can listen live on the air or here on the net at 12:00 ET (9:00 PT), and here in the archives after the show at September 8 and 9:00am. Once at 9:00 am, if you click on the play bar you can advance the clip to the start of the interview at 6:05.
Big picture charts offer some helpful perspective on where we are at after the wild jolts of taxpayer-funded capital injections the past few years. Canada–hardware store to a world where 82% of manufacturing data is now contracting–continues to look weak and vulnerable. We can also look forward to a more normal cyclical recovery in stocks (note the slower, steady price action from the bottom in 2002-03 until the credit mess blew in 2006) one day once central banks stop flooding and let slow demand find its own organic level.
Source: Cory Venable, CMT, Venable Park Investment Counsel Inc.
