David Stockman joined Boom Bust to discuss the massive storm that is building and about to slam into Wall Street. During the discussion Stockman reveals what he believes is ahead for the stocks in the market and the economy.
The interview began with the Boom Bust host asking the acclaimed author about his concern surrounding a government shutdown. David Stockman began “we’re in the midst of the biggest political train wreck in modern history… There will be no governance in Washington. There will be no tax bill, stimulus or infrastructure.”
“We’re heading for an expiration of the debt ceiling and running out of cash that will create an enormous crisis by August or September. They’re not going to be able to cope with it.”
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I've been reading Stockman's "Contra Corner" for several years and am convinced that both he and Paul Craig Roberts are truth tellers who are usually shunned from the MSM. Try Stockman's book, Trumped. Excellent.
ReplyDeleteThe crash is inevitable and badly needed but the Bankers will push it off for as long as possible and then, profit from it.