Posted on 03/03/2012 2:52:46 PM PST by Lazlo in PA
He was an architect of one of the biggest tax cuts in U.S. history. He spent much of his career after politics using borrowed money to take over companies. He targeted the riskiest ones that most investors shunned — car-parts makers, textile mills.
That is one image of David Stockman, the former White House budget director who, after resigning in protest over deficit spending, made a fortune in corporate buyouts.
Former Reagan Budget Director Despairs: I Wouldnt Touch the Stock Market With a 100 Foot Pole
But spend time with him and you discover this former wunderkind of the Reagan revolution is something else — a scared investor who doesn’t own a single stock for fear of another financial crisis.
Stockman suggests you’d be crazy to hold anything but cash now, and maybe a few bars of gold. He thinks the Federal Reserve’s efforts to ease the pain from the collapse of our “national leveraged buyout” — his term for decades of reckless, debt-fueled spending by government, citizens, and companies — is pumping stock and bond markets to dangerous heights.
(Excerpt) Read more at theblaze.com ...
So Loman, why didn’t you make a personal attack? Is it because you know you will face consequences? Thought so.
Yawwwwwwwn.
>>Thought so.
Still not much evidence of that.
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