David Stockman

I invest in anything

I invest in anything that Bernanke can’t destroy, including gold, canned beans, bottled water and flashlight batteries. David Stockman

If there were such

If there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. David Stockman

Then, when the Fed’s fire hoses started spraying an elephant soup of liquidity injections in every direction, and its balance sheet grew by $1.3 trillion in just thirteen weeks compared to $850 billion during its first ninety-four years, I became convinced that the Fed was flying by the seat of its pants, making it up … Read more

The stock market in

The stock market in Japan was half the world market and where has the Japan economy gone since the 1990s? Nowhere. They’ve been struggling for two decades in the aftermath of a massive bubble that’s collapsed. They’ve tried to work their way out of it by printing even more money and it hasn’t worked. Now, … Read more

Let’s have honest interest

Let’s have honest interest rates. Let’s let the free market set interest rates in that zone where supply of savings is matched up with demand for real borrowing for capital projects. David Stockman

I’m just not going

I’m just not going to spend a lot of political capital solving some other guy’s problem in 2010. David Stockman

I think everybody benefitted

I think everybody benefitted from what I am calling a bubble finance system, a bubble economy and if we’re ever going to right the system, we’re going to have to stop this explosion of the federal debt. We need huge spending cuts, OK? Don’t get me wrong, we need to raise regular taxes too but … Read more

I think the stock

I think the stock market is a very dangerous place to be at the present time. In fact, the stock market today is almost identical to where it was in October 2007 and then there was a $7 trillion crash and before that in March 2000. David Stockman

If the stock market

If the stock market does go through a crisis of confidence, which I think clearly will happen one of these days, no one can predict just like you couldn’t the dot com crash or the Lehman crash, but when it goes down it will go down by thousands of points because everyone will panic. No … Read more

Main Street has too

Main Street has too much debt already. It is simply a bonanza for speculators who can borrow the overnight money and then buy something that they can speculate on. David Stockman