Former White House Official Just Made One Of The Most Terrifying Predictions Of 2015

Saturday, February 14, 2015
By Paul Martin
February 14, 2015

Today the man President Ronald Reagan called upon to help save the United States from disaster in 1981 made one of the most terrifying predictions of 2015. Below is the dire warning from David Stockman, the former White House budget director.

David Stockman: “The central banks as late as 2006 had combined balance sheets of $5 trillion. Today it’s $16 trillion. Total outstanding credit in the world is now past $200 trillion. There are going to be enormous losses and cascading effects. There is a huge amount of dislocation on the way and it’s going to be pretty devastating in its scope and intensity.

There is going to be a massive conflagration (extensive fire that destroys assets) in the financial markets. It’s going to be the Great Repricing of all kinds of financial instruments — stocks and bonds. It’s already happened to commodities and derivatives are waiting in line. That’s where the carnage is going to occur.”

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