The sky is falling, live underground.
Not much has been fixed since 2008, and the debt is getting ever bigger, but in the short to medium term, the American markets are going up strongly. The main reason is that we are not Europe, Japan, or China, and money has to go somewhere, so we are getting an influx of cash from outside. Would you rather put your money in the US stock market, or a Cyprus bank right now?
The argument against Stockman’s warning seems to amount to nothing but, “So far, so good.”
Stockman seems to have all the right enemies.
We have rogue banks, a rogue federal reserve, a rogue IMF, and a rogue government.
What could possibly go wrong?
Most of the world's currencies are hurting. From sovereign debt accumulation to uncertainty. Which country will be the next to steal citizens bank accounts?
Believe it or not, the U.S. dollar is doing well comparatively speaking. Even with Bernake and QE infinity.
Where else would you put your money now if you lived in Cyprus, or Greece...Spain or Portugal?
As long as interest rats remain low, and the Fed keeps pumping $85 billion a month in new, nicely printed or digitized currency, we'll be all right.
Look at the Stock Market. P/E ratios, new capitalization, IPOs, etc. are not supporting this market. The Fed is.
Bumpy ride ahead...
5.56mm
Stockman blames only Republicans going back to Reagan. He was a weasel then and he’s a weasel now.
Weisenthal and The Business Insider are toadies for Barry and Obamanomics. It’s a real hoot seeing the chicken little scaremongers of the left accusing someone else of scaremongering. LOL! They’re all a bunch of doofus clowns.
“...has book comming out.”
Now lets see, should I believe Krugman and the Bernank who both have been 100% wrong or Stockman?
economics bump for later....
Under the circumstances, some of the friendlier countries that are net exporters of important commodities (like oil) would seem to be among the safest.
I don’t disagree with anything Stockton said. Just because America’s not a smoldering heap, does not mean the collapse hasn’t occurred. It’s like saying, “I’ve still got checks. I can’t be out of money.”
My God. It’s like Saul on the road to Damascus.
I have an acquaintance who had dinner with Stockman, discussed finance, and says he is truly brilliant.
This is What It Feels Like to Have Your Wealth Confiscated By The Global Elite