David Stockman

David Stockman Warns “Gold Is The Only Safe Asset Left” – “We Are Heading For A Thundering Collision In The Bond Market” (Video)

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https://youtu.be/DB064EDyM_8

– David Stockman Warns “Gold Is The Only Safe Asset Left”:

Via Greg Hunter’s USA Watchdog blog,

Record high stock and bond prices are flashing danger signs to former Reagan White House Budget Director David Stockman.

Stockman contends,

“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,

Read moreDavid Stockman Warns “Gold Is The Only Safe Asset Left” – “We Are Heading For A Thundering Collision In The Bond Market” (Video)

David Stockman: The Illusion of Growth

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– The Illusion of Growth:

The Wall Street Journal published a superb example of hopium recently in a sunny-side-up story entitled “U. S. Manufacturing Rides Rising Tide, Buoyed by Global Growth, Optimism.”

Indeed, this lazy cheerleading excuse for journalism captured the sum and substance of why the punters keep buying the dips despite troubles gathering all around.

That is, as the tax bill falters, the crusade to remove the Donald from office gathers strength, the Fed moves into balance sheet normalization and instability breaks out all over the world from the Persian Gulf to the Korean peninsula.

Read moreDavid Stockman: The Illusion of Growth

“It Won’t Be Long Now” – David Stockman Warns “Amazon Is The New Tech Crash”

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– “It Won’t Be Long Now” – David Stockman Warns “Amazon Is The New Tech Crash”:

“The Amazon business model is fatally flawed. It’s only a matter of the precise catalyst that will trigger the realization in the casino that this is another case of the proverbial naked emperor… I do not think AMZN is a freakish outlier. It’s actually the lens through which the entire stock market should be viewed because the whole enchilada is now in the grips of a pure mania.”…

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David Stockman Warns Of “Huge Air Pocket Between Wall Street Fantasy & Economic Reality”

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– Stockman Warns Of “Huge Air Pocket Between Wall Street Fantasy & Economic Reality”:

“With all of that staring us in the face, the market is barely worth 1,600… There is a huge air pocket between the huge fantasy that prevails on Wall Street and the reality of the economic world.”…

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David Stockman Sounds The Alarm – Fiscal Bloodbath, Market Crash To Occur “Between August And November”

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– David Stockman Sounds The Alarm – Fiscal Bloodbath, Market Crash To Occur “Between August And November”:

“We’re going to hit an air pocket. The S&P 500 is going to drop by hundreds and hundreds of points sometime over the next few months as we drift into this unexpected crisis... It is going to be one giant fiscal bloodbath the likes of which we have never seen.”

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Former Reagan Administration Official Is Warning Of A Financial Collapse Some Time ‘Between August And November’

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– Former Reagan Administration Official Is Warning Of A Financial Collapse Some Time ‘Between August And November’:

If a former Reagan administration official is correct, we are likely to see the next major financial collapse by the end of 2017.  According to Wikipedia, David Stockman “is an author, former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.”  He has been frequently interviewed by mainstream news outlets such as CNBC, Bloomberg and PBS, and he is a highly respected voice in the financial community.  Like other analysts, Stockman believes that the U.S. economy is in dire shape, and he told Greg Hunter during a recent interview that he is convinced that the S&P 500 could soon crash “by 40% or even more”…

Read moreFormer Reagan Administration Official Is Warning Of A Financial Collapse Some Time ‘Between August And November’

Stockman To Trump: It’s The Economy, Stupid

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– Stockman To Trump: It’s The Economy, Stupid:

“Trump was elected because flyover America is hurting economically. The voters of Wisconsin and Pennsylvania are imperiled not because of some refugees, they’re imperiled because their jobs have all been disappearing for decades. The problem is far more the Federal Reserve, Janet Yellen, the bubbles they’re creating on Wall Street…“

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“Sell Everything Now” David Stockman Warns, America Faces “Total Disaster…Partisan Warfare”

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FYI.

Reader squodgy:

“Middle class America just can’t see the wood for the trees. The last 65 years have been paradisic, but the end is coming and nobody sees it or worse, is even prepared to consider it.

All the pieces are in place, yet I’ve just been in contact with all my lot in the States & they’re either shocked about how the campaign against poor Hillary is going, or upset about the muck raking over Donald’s penchant for young girls. Is he really worse than Bill Clinton?

Nobody can grasp they are both from the Rothschild “end of America” stable.”

– “Sell Everything Now” David Stockman Warns, America Faces “Total Disaster…Partisan Warfare”

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David Stockman: “China Is A Monumental Doomsday Machine” – “There As A Red Swan Rising” And Its Soon Going Global

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China- Toast-To-Market-Manipulation

– Here Comes The Red Swan And Other Reasons To Be Very Afraid:

The Red Chip casino took another one of its patented 6.5% belly flops this week. In fact, more than 1,300 stocks in Shanghai and Shenzhen fell by 10% – the maximum drop permitted by regulators in one day – implying that the real decline was far deeper.

This renewed carnage was the worst since, well, the last 6% drop way back on January 29, and It means that the cumulative meltdown from last June’s high is pushing 45%. And all this red chip mayhem did not come at an especially propitious moment for the regime, as the  Wall Street Journal explained:

Read moreDavid Stockman: “China Is A Monumental Doomsday Machine” – “There As A Red Swan Rising” And Its Soon Going Global

Former Reagan Administration Official Warns That Financial Disaster Is Dead Ahead

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Disaster

– Former Reagan Administration Official Warns That Financial Disaster Is Dead Ahead:

Why won’t the American people listen to the warnings?  David Stockman was a member of the U.S. House of Representatives from 1977 to 1981, and he served as the Director of the Office of Management and Budget under President Ronald Reagan from 1981 to 1985.  These days, he is running a website called “Contra Corner” which I highly recommend that you check out.  Stockman believes that a global “debt super-cycle” that has been building for decades is now bursting, and he is convinced that the consequences for the U.S. and for the rest of the planet will be absolutely catastrophic.  His findings are very consistent with what I have been writing about on The Economic Collapse Blog, and if Stockman is correct the times ahead of us are going to be exceedingly painful.

Read moreFormer Reagan Administration Official Warns That Financial Disaster Is Dead Ahead

David Stockman Explains How To Fix The World (In 7 Words)

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– David Stockman Explains How To Fix The World (In 7 Words):

While we are used to David Stockman’s detailed and lengthy “nailing” of the real state of the world, the following brief clip of an interview with Fox Business, in which David explains how to ‘fix’ so many of our problems, can be summarized perfectly in just seven short words: “Replace The Fed with the free market.”
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Can Kickers United … Why It’s Getting Downright Hazardous Out There

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– Can Kickers United—–Why It’s Getting Downright Hazardous Out There (Contra Corner, Aug 20, 2015):

It’s getting downright hazardous out there, and not just because the robo-machines were slamming the “sell” key today. The real danger comes from the loose assemblage of official institutions which claim to be running the world.

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Wall Street Still Didn’t Get The Memo – China’s Done, Tops In!

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– Wall Street Still Didn’t Get The Memo—–China’s Done, Tops In! (David Stockamn’s Contra Cormner, July 28, 2015):

Bubblevision’s Scott Wapner nearly split a neck vessel today denouncing the US stock market sell-off. It was completely unwarranted, he thundered, because China don’t have nothin’ to do with anything.

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The collapse of red capitalism in China is exporting gale force deflation to the global economy, meaning that the already evident rollover of world trade is just beginning its descent.

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So S&P profits are not immune, not by a longshot. One of these days, perhaps soon, even Scott Wapner will get the memo.

Former U.S. Budget Director David Stockman Warns: Few Will Survive “Sundown In America” – “It’s One Of The Scariest Moments In History” (Video)

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Sundown In America

– David Stockman Warns “It’s One Of The Scariest Moments In History” (ZeroHedge, March 1, 2015):

“The Fed is out of control,” exclaims David Stockman – perhaps best known for architecting Reagan’s economic turnaround known as ‘Morning in America’ – adding that “people don’t want to hear the reality and the truth that we’re facing.” The following discussion, with Harry Dent, outlines their perspectives on the looming collapse of free market prosperity and the desctruction of American wealth as policymakers “take our economy in a direction that is dangerous, that is not sustainable, and is likely to fully undermine everything that’s been built up and created by the American people over decades and decades.” The Fed, Stockman concludes, “is a rogue institution,” and their actions have led us to “one of the scariest moments in our history… it’s a festering time-bomb and we’re not sure when it will explode.”

Full Discussion:

Read moreFormer U.S. Budget Director David Stockman Warns: Few Will Survive “Sundown In America” – “It’s One Of The Scariest Moments In History” (Video)

Europe’s Greek Showdown: The Sum Of All Statist Errors

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– Europe’s Greek Showdown: The Sum Of All Statist Errors (David Stockman’s Contra Corner, Feb 10, 2015):

The politicians of Europe are plunging into a form of ideological fratricide as they battle over Greece. And “fratricide” is precisely the right descriptor because in this battle there are no white hats or black hits—-just statists.

Accordingly, all the combatants—the German, Greek and other national politicians and the apparatchiks of Brussels and Frankfurt—- are fundamentally on the wrong path, albeit for different reasons. Yet by collectively indulging in the sum of all statist errors they may ultimately do a service. Namely, discredit and destroy the whole bailout state and central bank driven financialization model that threatens political democracy and capitalist prosperity in Europe——and the rest of the world, too.

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The BoJ Jumps The Monetary Shark – Now The Machines, Madmen And Morons Are Raging

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– The BoJ Jumps The Monetary Shark – Now The Machines, Madmen And Morons Are Raging (David Stockman’s Contra Corner, Oct 31, 2014):

This is just plain sick. Hardly a day after the greatest central bank fraudster of all time, Maestro Greenspan, confessed that QE has not helped the main street economy and jobs, the lunatics at the BOJ flat-out jumped the monetary shark. Even then, the madman Kuroda pulled off his incendiary maneuver by a bare 5-4 vote. Apparently the dissenters – Messrs. Morimoto, Ishida, Sato and Kiuchi – are only semi-mad.

Never mind that the BOJ will now escalate its bond purchase rate to $750 billion per year – a figure so astonishingly large that it would amount to nearly $3 trillion per year if applied to a US scale GDP. And that comes on top of a central bank balance sheet which had previously exploded to nearly 50% of Japan’s national income or more than double the already mind-boggling US ratio of 25%.

Read moreThe BoJ Jumps The Monetary Shark – Now The Machines, Madmen And Morons Are Raging

The Siege Of Kobani: Obama’s Syrian Fiasco In Motion

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– The Siege Of Kobani: Obama’s Syrian Fiasco In Motion (David Stockman’s Contra Corner, Oct 6, 2014):

Another humanitarian catastrophe may be just hours away at Kobani. The latter is the Syrian Kurdish town on the border with Turkey that is now surrounded by ISIS tanks and is being pounded day after day by ISIS heavy artillery. Already this lethal phalanx, which fuses 21st century American technology and equipment with 12th century religious fanaticism, has rolled through dozens of Kurdish villages and towns in the region around Kobani, sending 180,000 refugees fleeing for their lives across the border.

Self-evidently the lightly armed Kurdish militias desperately holding out in Kobani are fighting the right enemy—-that is, the Islamic State. So why has Obama’s grand coalition not been able to relieve the siege?  Why haven’t American bombers and cruise missiles, for instance, been able to destroy the American tanks and artillery which a terrifying band of butchers has brought to bear on several hundred thousand innocent Syrian Kurds who have made this enclave their home for more than a century? Why has not NATO ally Turkey, with a 600,000 man military, 3,500 tanks and 1,000 modern aircraft and helicopters, done anything meaningful to help the imperiled Kurds?

Read moreThe Siege Of Kobani: Obama’s Syrian Fiasco In Motion

Barack, We Hardly Knew Ye

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mad

– Barack, We Hardly Knew Ye (David Stockman’s Contra Corner, Sep 11, 2014):

With your drums and guns and guns and drums, hurroo, hurroo
With your drums and guns and guns and drums, hurroo, hurroo
With your drums and guns and guns and drums
The enemy nearly slew ye
Oh my darling dear, Ye look so queer
Johnny I hardly knew ye…..

This memorable stanza from the classic anti-war song could not be more apt with respect to Barack Obama. He became President because he campaigned across the land draped in the garlands of peace. Yet he has now promised to spend his final three years in the White House smearing his face with war paint and strutting around the imperial city marshalling his “drums and guns and guns and drums”.

And let’s be clear. The President’s so-called “counter-terrorism” campaign—-that special kind of violent eruption which isn’t a “war”—-is not really about punishing some barbarians who have beheaded two innocent Americans and who have also recruited perhaps a dozen not so innocent Americans to join their blood-thirsty ranks. Civilized adults just do not start a war on the other side of the world on account of such thin gruel, as horrific as the actions involved might be.

Read moreBarack, We Hardly Knew Ye

“The Train Wreck Is Coming,” David Stockman Warns, “All Hell Will Break Loose”

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From the interview:

Stockman:  “Train wreck is a pretty good term to describe what is coming.  But this train wreck isn’t simply going to hit a wall out of the blue. Actually, it has been forming and accumulating and expanding for many years now, and yet it has simply been ignored, particularly by the financial markets which have ridden this bubble to these extreme and historic heights.

But when you take the balance sheet of the Fed from $900 billion to $4.5 trillion in less than 70 months, and when that pattern is replicated around the world, that is a train wreck in slow motion.  The only issue is, when does it hit the wall?  The answer to that question is it’s not very far down the road, and I can promise you that is when all hell is going to break loose.”

– David Stockman Interview On Today’s Turbulent Financial Markets: “Stay Out Of Harm’s Way” (David Stockman’s Contra Corner, Aug 10, 2014):

Eric King:  “David, the man who is counsel to big money around the world, Michael Belkin, just spoke with KWN and issued a dire warning for the financial markets.  I just wondered how you see things at this point with the Dow recently tumbling and everything that is happening across the globe?  What should we expect?”

Read more“The Train Wreck Is Coming,” David Stockman Warns, “All Hell Will Break Loose”