David Stockman Warns “Get Out Of The Casino!”
by Tyler Durden
ZeroHedge.com
05/13/2016
Forget the “wall of worry,” former Reagan OMB Director David Stockman warns a shocked CNBC anchorette that “the frogs are in the boiling water again on Wall Street…and they don’t have enough sense to get out.” The last 600 days of range-bound trading marks the top he explains adding that “we have reached the cyclical top in both GDP and earnings,” which leaves a market trading at extremely expensive levels – “why would you stay in?” Stockman believes that the world economy is heading into a “deep and lasting deflationary recession.” There is no evidence that America is immune, he adds, warning of the potential for 40% downside and just 2% upside in stocks…
The Rest…HERE
