Posted on 02/26/2017 2:39:01 PM PST by blam
Two weeks after David Stockman warned that "the market is apparently pricing in a huge Trump stimulus. But if you just look at the real world out there, the only thing that's going to happen is a fiscal bloodbath and a White House train wreck like never before in U.S. history" and exclaimed that, when looking at markets, "what's going on today is complete insanity" he is back with another interview, this time with Greg Hunter of USAWatchdog in which he, once again warns, that a giant fiscal bloodbatch is coming soon, and urges listeners to pay especially close attention to the March 15, 2017 debt ceiling deadling, at which point everything could "grind to a halt."
As Greg Hunter writes, former Reagan Administration White House Budget Director David Stockman says financial pain is a mathematical certainty. Stockman explains, “I think we are likely to have more of a fiscal bloodbath rather than fiscal stimulus. Unfortunately for Donald Trump, not only did the public vote the establishment out, they left on his doorstep the inheritance of 30 years of debt build-up and a fiscal policy that’s been really reckless in the extreme. People would like to think he’s the second coming of Ronald Reagan and we are going to have morning in America. Unfortunately, I don’t think it looks that promising because Trump is inheriting a mess that pales into insignificance what we had to deal with in January of 1981 when I joined the Reagan White House as Budget Director.”
So, can the Trump bump in the stock market keep going? Stockman, who wrote a book titled “Trumped” predicting a Trump victory in 2016, says, “I don’t think there is a snowball’s chance in the hot place that’s going to happen. This is delusional.
(snip)
(Excerpt) Read more at zerohedge.com ...
Stockman is long past his “use by” date.
...or not.
Stockman hasn’t been right in 30 years.
Sounds Shakespearean.
Cut, baby, cut. Drill, baby, drill.
In Stockman’s defense, Candidate Trump did say on several occasions that the equity markets are in a bubble.
I’m predicting the market will go down, either after it goes up first, or before it goes up afterward. Or somewhere in the middle. 100%, bank on it.
He has a clue on what to do with the budget, but has been on this doom train for nearly his entire stint.
It cost him his job in the Reagan White House.
But, eventually, it will catch up to us.
It’s possibly a definite maybe
and when he’s not right about this, he’ll still be pumping out crap just like always
Face it the stock market has not been based in reality for many decades and the 2008-2009 FEDGOV rearrangement of the deck chairs on the Titanic/Stock Market reforms did nothing to change the situation.
from link:
The article spelled the beginning of the end for Stockman’s influence. He was, he said, “taken to the woodshed” by President Reagan, and though he stayed at OMB through Reagan’s reelection, he never recovered his stature. He’s spent the ensuing years working in finance (where he was indicted but never prosecuted for fraud in 2007) and acting as a political gadfly on fiscal issues.
I suppose that was meant to be deadline, but I couldn't resist. 8>)
Could be, and Trump will unfairly get the blame, just as sure as the sun rising and setting (even if it is obscured by clouds).
He has been speaking like this for over 2 years, Schiff (whom I love) has been talking like that for 15 years..?
More.
The P/E ratio is not historically high.
Of course there could be a correction but I see 30k DOW by end of Trump’s 2 terms.
What will McConnell do if the Dems filibuster the debt ceiling increase?
If you keep warning about bloodbaths for years on end, you will be right once in a while.
And buy American, baby, buy American.
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