Submitted by David Stockman via Contra Corner blog,
The cowardly dithering in the Eccles Building is sucking Wall Street punters into a vortex. And it promises to be the mother of all bubble implosions.
There is no other possible outcome for a stock market that is trading at 24X reported earnings in the teeth of the most enormous headwinds ever accumulated.
When last week, Oklahoma threatened to impeach Obama over the administration's recommendations on accommodating transgender students, saying the president overstepped his constitutional authority, few paid much attention. After all, it is safe to say there have been far more egregious violations of the constitution by this administration, for it to be too worried about allowing transsexuals to use any bathroom they choose.
However, now that ten other states joined Oklahoma overnight in suing Obama, it may be time to pay attention.
The New York Times sent a reporter down to Wilkes County, NC, to spend the day hanging out with the barely-getting-by white people at the local vape shop. It’s a powerful vignette, with some hard-hitting photographs. It’s not too far from the town of Mount Airy, birthplace of Andy Griffith, who played Sheriff Andy Taylor of Mayberry. Excerpts:
Pew released a survey earlier this month on American attitudes on foreign policy and America’s role in the world. Notably, only 27% said that they thought the U.S. does too little in trying to solve world problems:
