But it’s nuts to say that Stockman is right about his doomsday thesis based on the fact that Treasury bond yields are up nearly a point from their historic lows and that the stock market is down 3 percent since investors misinterpreted Bernanke’s “tapering” comments.

I mean, seriously.


 

Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu.