David Stockman explains in easy to understand language of the coming risks due to reckless spending by Washington. In this 8 minute Bloomberg interview, he lays out his fears of an impending bond market crash. Mr. Stockman and I share the same concerns. However unlike this anonymous blogger Mr. Stockman was the Director of the Office of Management and Budget under Reagan. He later became partner at private equity firm Blackstone Group.
Stupid link issues. The video is here:
http://www.youtube.com/watch?v=s-wekH6ITNg
Subprime JD: A blog dedicated to exposing the law school and higher education scam.
subprime, wasn't Stockman largley ignored by that piece of trash Ronald Reagan and those in power? I have seen this movie before. Doesn't it end in another bailout, marketed to the masses as "necessary to ensure that our financial system can stay afloat"?!?!
ReplyDeleteThey've been warning about the bond market for two years.
ReplyDeleteAnd you realize that right after he left the OMB, the dollar lost 40% of its value in two years, 1985-1987, and he worked on a budget that added $2.6 trillion to the national debt?
I'm sorry, but I don't think he's very credible about his credentials. He just seems like a former political person who now needs to get speaking gigs, so he has to say stuff that financial people will agree with, or want to hear.