I hope everyone had a safe and enjoyable July 4th holiday. We spent it in northern Michigan, Charlevoix to be precise, enjoying the spectacular weather with friends. I know da Boyz on Wall St. enjoyed their weekend with the vapor lock run up last week into the holiday.
I came across a clip of an appearance on Dylan Ratigan's show by former Congressional Budget Office (CBO) director David Stockman. He has some non-conventional, quite interesting things to say including the brilliant Ben Benanke.
Interesting how he mentions the farce that corporate cash levels are given .... ahemmm.... the corresponding corporate debt outstanding. Gee, now where have I heard that before!! But why focus on facts when fiction and lies sell so well.