[concernedcitizen76]

"David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan."

[kvanbrunt2]

i’m in cash in my 401k and not contributing any longer. i’m long cash as i can be as a united states serf.

[doc1019]

.

[2ndDivisionVet]

This guy is like John Dean. He never goes away.

[Toddsterpatriot]

And then capture the profit or the spread between the cheap money that the fed is putting into the overnight market and the yield or profit they're making on the asset, and they're leveraging way up.

Why would the Fed be putting money into the overnight market?

[shibumi]

1. Welcome to FreeRepublic.

2. Thanks for posting an interesting article.

3. Thanks *especially* for posting it in full.

[Paladin2]

Wrap it up and shut it down.

[RockyTx]

borrow overnight for five basis points.

.05% ...per day or per year

[gaijin]

later

[Zhang Fei]

So therefore, we need to look at what's driving this huge deficit, and the answer is big entitlements and big defense spending, and the republicans are unwilling to take on the Pentagon.

He's full of crap. Defense spending is 3% of the economy, as compared to 8% at its peak under Reagan. The problem isn't defense spending - it's non-defense and entitlements spending.

[Oratam]

Bkmk

[urbanpovertylawcenter]

Watch Gold and silver, when he big boys begin to talk it down and it strikes 7 to 800 dollars an ounce for gold and $9 an ounce silver, run!

[cornelis]

This is the money lesson they don’t teach: banking.