#GAAP

Authored Doug Kass of Seabreeze Partners Management, "The missing step in the standard Keynesian theory [is] the explicit consideration of capitalist finance within a cyclical and speculative context . . . finance sets the pace for the economy. As recovery approaches full employment . . .

Authored by David Stockman via Contra Corner blog, Today's single most dangerous Wall Street meme is that there is no risk of a stock market crash because there is no recession in sight. But that proposition is dead wrong because it's a relic of your grandfather's economy. That is, a reasonably

Authored by David Stockman via Contra Corner, The entire financial and economic narrative in today's Bubble Finance world is virtually context- and history-free; it's all about the short-term deltas and therefore exceedingly misleading and dangerous. So when a big trend or condition is negative

Authored by David Stockman via Contra Corner blog, You could almost understand the irrational exuberance of 1999-2000. That's because everything was seemingly coming up roses, meaning that cap rates arguably had rational room to rise. But eventually the mania lost all touch with reality; it

When it comes to Wall Street cheerleaders, Tesla has few closer friends than Morgan Stanley's Adam Jonas (current price target of $379). To be sure, the relationship cuts both ways, with Jonas relentless enthusiasm 'for the EV maker granting Morgan Stanley a reserved spot for any future debt,