The Wall Street casino is dangerous because there is no safety net left to save investors when the bottom falls out, according to David Stockman, former White House budget chief and central bank policy skeptic.
In a column for his Contra Corner blog, Stockman said the professional traders have succeeded in busting the 2,000 barrier on the S&P 500 to take stocks to record highs, but individual investors better watch out.
"Honestly measured earnings have been growing only at a tepid rate, and have no prospects for acceleration given the sharp slowdown in both the global and domestic economy," Stockman wrote.
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3 comments:
Stock(up) in food products , gas , AMMO , and water . This will make you rich and keep you alive.
Mmm sounds a little like the Roman Empire.
Long overdue. ..already.
why should investors be provided a safety net?
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