David Stockman Writes Huge Unhinged Screed About How America Is Doomed And How You Should Get Out Of The Market NOW
Mar. 31, 2013
Former Reagan budget director David Stockman has a new book coming out on Tuesday, and he’s warming up the public with a massive piece in today’s New York Times titled Sundown in America, which basically says the future of America bleak because of massive government debts, crony capitalism, bailouts, megabanks, the removal of the gold standard, and even green energy.
The piece can truly be characterized as Hard Money Buzzword Bingo, as Stockman tries to get in as many scare lines as possible.
Check out this one sentence where he talks about bubbles, Wall Street casinos, the Crucifixion of savers, commodities Main Street, a “Great Deformation”, and a rogue central bank:
Instead of moderation, what’s at hand is a Great Deformation, arising from a rogue central bank that has abetted the Wall Street casino, crucified savers on a cross of zero interest rates and fueled a global commodity bubble that erodes Main Street living standards through rising food and energy prices — a form of inflation that the Fed fecklessly disregards in calculating inflation.
It just goes on and on like this, but his final suggestion is to run for the hills: