Record high stock and bond prices are flashing danger signs to former Reagan White House Budget Director David Stockman.
“I don’t think we are going to have a liquidity crisis. I think it’s going to be a value reset. I think there is going to be a jarring downward price adjustment both in the stock market and in the bond market.
This phantom or phony wealth that has been created since the last crisis is going to basically evaporate.”
So, what asset is safe? Stockman says gold and goes onto explain,