Posted on 08/27/2018 2:29:11 PM PDT by CaptainK
Anyone, who wastes 8 seconds of their life watching a David Stockman video is an idiot!
No joke. I’m driving home last night, have the radio flipped over to listen to a few minutes of Bill Cunningham (didn’t know he was on) and here comes an ad for a local financial company featuring -— Glenn Beck.
I was spewing “Goldline” in the car for a few seconds there.
BTW, Cunningham said in 2008 he was supposed to warm up the crowd with red meat for John McCain. He kept getting the “stretch” sign and went for 20-25 minutes. He then says some Republican said “Great job, (candidate) McCain will be very happy”. He left his cell phone number for McCain to call.
2 hours later, every media outlet in D.C. is phoning his number because it was McCain’s “Sister Soulja” moment because Cunningham used “Barack HUSSEIN Obama” instead of “Barack Obama” which McCain preferred. McCain basically dissed Cunningham. I believe he said it was Rob Portman who thanked him (Cunningham) for warming up the crowd.
And we thought we had a choice in 2008......
There is no “fake” bull market. A bull market is a bull market. If it turns down and stays going down it becomes a bear market. To Stockman it is “fake” because he wants it to be low and going down because Trump is the Wrong Guy.
It’s fake? All the money I’ve cashed out isn’t real?
He was predicting doom and gloom when Trump won.
BTW, that guy died in 2005. ;)
https://en.wikipedia.org/wiki/James_Stockdale#Vice-Presidential_candidacy
I listened to it and also saw his comments during the Obama years. He is a one-trick pony and worried about the debt. He has been playing this tune for years. Of course he has valid concerns which we have all voiced. We have way too much debt and the market will indeed crash again some day.
However with the fed increasing rates and Trump actually helping the economy I think his doom and gloom message is strange. The market only went up 1% today. As a result of this “astounding” news that the market went up 1% he says everyone should bail and put everything in cash.
No one can time the market. The better strategy is to ignore the noise, invest 20% or more every year conservatively into a diversified portfolio over 40 years or so and LEAVE IT ALONE. You will be well rewarded and can retire comfortably.
This bull market under TRUMP is REAL fueled by tax cuts + TRUMP's policies!
Stockman makes a big deal about being an economic advisor to Reagan, but Stockman broke with Reagan over supply-side economics and severely criticized him to the liberal press. He is a backstabber, as someone on this thread observed.
His backstabbing of Reagan is unforgivable and blunted Reaganomics. He wears his brief stay in the Reagan administration like a crown.
A Bull Market based on record earnings and a full employment economy is certainly more real than one based on fiat money, low interest rates and redistibution.
President Donald J. Trump, and markets are plunging. When might we expect them to recover?Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear.
Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never.
Up and down is the name of the game. The problem is that the market is inflated. It was inflated under Obama for a couple of reasons:
1) Banks and other investment entities poured money into the markets after they borrowed at insanely low interest rates. Or in the case of some banks, outright given money by the Federal Government.
2) Numerous corporations borrowed large sums, again at low interest rates, to buy back their own stock.Less stock that is available and the price per share rises accordingly.
3) With no interest being paid out to personal saving accounts, people put money into stocks.
Is the market inflated? Absolutely! But when the correction will exactly occur is anyone’s guess.
You beat me to it.
“Fake bull market” reminds me of the “genius”(/s) music critic who commented: “Wagner’s music is not as good as it sounds.”
David Stockman, not James Stockdale.
Who is he? Why is he here?
1. There's a reason why you don't find any economists among the world's wealthiest people.
2. Fundamentals of monetary policy don't always hold when you're dealing with the world's one superpower.
Stockman came across as a very smart guy, and I agreed with him on about 95% of the things where I actually understood what he was saying. But here was how the interview ended ... and this speaks volumes of how a lot of economists operate (I'm paraphrasing here):
INTERVIEWER: "This has been a very interesting and informative discussion, Dave. So now let's bring this into a realm that our viewers can relate to. Suppose I'm an investor and I have $1 to invest today. What would you recommend for me?"
STOCKMAN: "I honestly don't know."
Well -- there you have it, folks. LOL.
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