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Prepare for Economic “Trainwreck”: Reagan Budget Chief
Liberty Sentinel ^ | 5/6/23 | Alex Newman

Posted on 05/06/2023 10:54:55 AM PDT by CFW

The American economy is headed toward a “trainwreck” as out-of-control money printing and government spending collide with reality, warned former director of Ronald Reagan’s Office of Management and Budget, David Stockman, in this interview on Conversations That Matter with The New American magazine’s Alex Newman.

The question now is how many collisions, how bad it ricochets, and how bad it hits average Americans, he said. Among other concerns, Stockman noted that living standards are going down as inflation far above what the feds admit is happening eats away savings, and wages fail to keep up. Expect that to continue getting worse as asset prices including real-estate and stocks plunge.

The only way to restore capitalism and prosperity is adopting policies based on sound economics, stop the borrowing, reject Keynesianism, and stop the out-of-control money printing, continued Stockman. The Federal Reserve’s outrageous behavior and the federal government’s outrageous spending have now become so bad that disaster will be the result.

(Excerpt) Read more at libertysentinel.org ...


TOPICS: Business/Economy; Culture/Society; Extended News; Government
KEYWORDS: biden; economy; inflation; recessiondepression
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Video of interview with Stockman at link.
1 posted on 05/06/2023 10:54:55 AM PDT by CFW
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To: CFW

women, blacks, and mentally ill trans hardest hit!


2 posted on 05/06/2023 10:56:57 AM PDT by TexasFreeper2009
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To: TexasFreeper2009

And of course it will be President Trump’s fault!


3 posted on 05/06/2023 10:59:48 AM PDT by Rummyfan (In any war between the civilized man and the savage, support the civilized of man.)
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To: CFW
Stockman prescribes:
1. adopting policies based on sound economics
2. stop the borrowing
3. reject Keynesianism
4. stop the out-of-control money printing

He needs to add root causes:
5. get people off the public teat
6. stop buying votes with the public treasury
7. stop enticing tens of millions of ignorant, poorly-educated, no-skill illegal immigrants to the USA with promises of Democrat freebies

No mysteries or surprises there but there is ABSOLUTELY ZERO chance of any of those things happening.

After all, it's "Modern Monetary Theory" and it can't fail. Until it all collapses.

4 posted on 05/06/2023 11:03:50 AM PDT by ProtectOurFreedom (I don’t like to think before I say something...I want to be just as surprised as everyone else…)
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To: CFW

Hard to believe that it isn’t the fault of Climate Change.


5 posted on 05/06/2023 11:15:04 AM PDT by eyeamok
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To: CFW

Welcome to 2020 former budget chief sleeping like rip van winkle


6 posted on 05/06/2023 11:15:51 AM PDT by NWFree (Sigma male 🤪)
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To: CFW

Imho this Biden administration is a fu@king train wreck.

Figuratively and literally.

5.56mm


7 posted on 05/06/2023 11:17:14 AM PDT by M Kehoe (Quid Pro Joe and the Ho have got to go)
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To: CFW
Stockman's ideas are SOUND... the problem is that NO ONE who has any power to CHANGE the situation will DO ANYTHING!


8 posted on 05/06/2023 11:20:30 AM PDT by VideoDoctor
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To: CFW

Reagan had a great economic team. I sure miss those days.


9 posted on 05/06/2023 11:25:45 AM PDT by irishjuggler
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To: CFW

It all has to come down so the new asset backed system can be implemented. Bye bye Federal Reserve and the central banking system.


10 posted on 05/06/2023 11:46:22 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped)
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To: CFW
When the national debt in dollars exceeds the total number of grains of sand
on all of the beaches of the entire earth, then we may run into trouble - right?

In the meantime, eat drink and be merry - for tomorrow we die.
Few people can recognize reality, let alone try to live within it's boundaries.

Monetary reality (as defined by the FED) is for fools at this point.
The whole system is going to blow-up & collapse.
As it was designed to way back in 1913.

There is no remedy now.
Let me know if y'all want me to repeat this 38.6 Trillion times...

Is anyone counting the grains of sand? Eh?

11 posted on 05/06/2023 11:50:04 AM PDT by GaltAdonis
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To: CFW

As long as it happens under Biden’s watch and it helps to get the commie-dems out of power, I’m OK with it.


12 posted on 05/06/2023 12:09:44 PM PDT by Signalman
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To: TexasFreeper2009

women, blacks, and mentally ill trans hardest hit, Trump’s fault!

There, fixed it for ya!


13 posted on 05/06/2023 12:19:52 PM PDT by superfries
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To: CFW

YA THINK???


14 posted on 05/06/2023 12:23:22 PM PDT by goodnesswins ( We pretend to vote and they pretend to count the votes.)
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To: NWFree
This guy has been predicting economic doom in the U.S. for years.

I stopped paying attention when he gave an interesting interview a few years ago on this subject. He explained all the problems with various assets to the interviewer — stocks, bonds, real estate, precious metals, etc.

The interviewer asked him which assets he would RECOMMEND for investors.

His answer: “I don’t know.”

Well, that answers it. Let’s all move to the moon and start all over again.

15 posted on 05/06/2023 12:48:50 PM PDT by Alberta's Child ("I've just pissed in my pants and nobody can do anything about it." -- Major Fambrough)
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To: ProtectOurFreedom

“can’t fail. Until it all collapses“
Uses who gets the blame!


16 posted on 05/06/2023 1:05:33 PM PDT by griswold3 (Truth, Beauty and Goodness )
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To: CFW

To see the “trainwreck” just drive past miles of beat-up RVs and trailer “homes” lining Biden era roads.


17 posted on 05/06/2023 1:16:59 PM PDT by Brian Griffin
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To: Alberta's Child

“real estate”

Houses are still rationally priced in many Southern areas.

Many Northern areas have rationally priced houses and irrational taxes.

The West has gotten Californicated.


18 posted on 05/06/2023 1:23:29 PM PDT by Brian Griffin
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To: Alberta's Child

Many stocks will retain over 50% of their current purchasing power value.

Real estate near massive government offices or a hospital in a decent area is another possibility if you have more money to place.


19 posted on 05/06/2023 1:36:09 PM PDT by Brian Griffin
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To: Brian Griffin

“Real estate near massive government offices or a hospital in a decent area is another possibility if you have more money to place.”

Another advantage of particularly the hospital is that if you are on the same local electric grid as the hospital they try to keep the power on there even in rolling blackouts and other things. Experienced something like that first hand a few years ago.


20 posted on 05/06/2023 1:45:41 PM PDT by nomorelurker
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