David Stockman: The Collapse Of The American Imperium (Video)


Published on Aug 3, 2014

Full description and discussion at: http://www.peakprosperity.com/podcast…

David Stockman, former director of the OMB under President Reagan, former US Representative, best-selling author of The Great Deformation, and veteran financier is an insider’s insider. Few people understand the ways in which Washington DC, The Fed, and Wall Street work and intersect better than he does.

He’s extremely concerned by the “perfect storm” he sees of concurrent failures in US policy across foreign, monetary, economic, and fiscal fronts.

Top Financial Experts Say World War 3 Is Coming … Unless We Stop It

Related info:

The Shocking Reason Putin Isn’t Worried About The $50 Billion Yukos Ruling:

“There is a war coming in Europe,” he said. “Do you really think this matters?”


Top Financial Experts Say World War 3 Is Coming … Unless We Stop It (Washington’s Blog, July 30, 2014):

Nouriel Roubini, Kyle Bass, Hugo Salinas Price, Charles Nenner, James Dines, Jim Rogers, David Stockman, Marc Faber, Jim Rickards, Paul Craig Roberts, Martin Armstrong, Larry Edelson, Gerald Celente and Others Warn of Wider War

Paul Craig Roberts – former Assistant Secretary of the Treasury under President Reagan, former editor of the Wall Street Journal, listed by Who’s Who in America as one of the 1,000 most influential political thinkers in the world, PhD economist – wrote an article yesterday about the build up of hostilities between the U.S. and Russia titled, simply: “War Is Coming”.  In the article, Roberts notes:

Read moreTop Financial Experts Say World War 3 Is Coming … Unless We Stop It

Here’s What Wall Street Bulls Were Saying In December 2007: Read And Take Cover!

Here’s What Wall Street Bulls Were Saying In December 2007: Read And Take Cover! (David Stockman’s Contra Corner, July 28, 2014):

The attached Barron’s article appeared in December 2007 as an outlook for the year ahead, and Wall Street strategists were waxing bullish. Notwithstanding the advanced state of disarray in the housing and mortgage markets, soaring global oil prices and a domestic economic expansion cycle that was faltering and getting long in the tooth, Wall Street strategists were still hitting the “buy” key. In fact, the Great Recession had already started but they didn’t have a clue:

Against this troubling backdrop, it’s no wonder investors are worried that the bull market might end in 2008. But Wall Street’s top equity strategists are quick to dismiss such fears.

Indeed, with the S&P 500 at an all-time high of 1460, the dozen top Wall Street prognosticators surveyed by Barron’s anticipated still more index gains during 2008:

Read moreHere’s What Wall Street Bulls Were Saying In December 2007: Read And Take Cover!

Why Financial Reporters Are Clueless: They Copy And Paste Keynesian/Wall Street Propaganda

Why Financial Reporters Are Clueless: They Copy And Paste Keynesian/Wall Street Propaganda (David Stockman’s Contra Corner, June 25, 2014):

By David Stockman, former director of the Office of Management and Budget (1981–1985)

This morning’s Q1 GDP revision might have been a wake-up call. After all, clocking in a -2.9%—-cold winter or no—it was the worst number posted since the dark days of Q1 2009. Well, actually, it was the fourth worst quarterly GDP shrinkage since Ronald Reagan declared it was morning again in American 30 years ago.

Dent, Faber, Celente, Maloney, Rogers – What Do They Say Is Coming In 2014?

Lindsey Williams is NOT an expert (in my opinion).


The-Earth

Dent, Faber, Celente, Maloney, Rogers – What Do They Say Is Coming In 2014? (Economic Collapse, Dec 12, 2013):

Some of the most respected prognosticators in the financial world are warning that what is coming in 2014 and beyond is going to shake America to the core.  Many of the quotes that you are about to read are from individuals that actually predicted the subprime mortgage meltdown and the financial crisis of 2008 ahead of time.  So they have a track record of being right.  Does that guarantee that they will be right about what is coming in 2014?  Of course not.  In fact, as you will see below, not all of them agree about exactly what is coming next.  But without a doubt, all of their forecasts are quite ominous.  The following are quotes from Harry Dent, Marc Faber, Gerald Celente, Mike Maloney, Jim Rogers and nine other respected economic experts about what they believe is coming in 2014 and beyond…

Read moreDent, Faber, Celente, Maloney, Rogers – What Do They Say Is Coming In 2014?

David Stockman Rages Market “Valuation Has Lost Any Anchor To The Real World’ (Video)

David Stockman Rages Market “Valuation Has Lost Any Anchor To The Real World” (ZeroHedge, Dec 9, 2013):

The current malaise of news, data, and spin is “meaningless,” David Stockman tells Bloomberg’s Tom Keene, adding that markets are exhibiting “the kind of speculative froth you get at the top of a cycle where valuation loses any anchor in the real world; from earnings or the prospects of the economy.” As he argued before, “owning stocks here is very dangerous,” and despite Keene’s best efforts to denigrate Stockman’s “of course it’s a bubble,” perspective; the former inside-man exposes the hard mathematical truths of valuations, performance, and reality in this brief clip. Who is to blame – The Fed or Wall Street? “It is a question of who has taken whom hostage,” Stockman concludes ominously, “it’s a co-dependency… it’s very dangerous.”

“Wall street demands that the Fed keeps dishing out the liquidity, keeps dishing out the monetary heroin…

Read moreDavid Stockman Rages Market “Valuation Has Lost Any Anchor To The Real World’ (Video)

Former US Budget Director David Stockman Explains The Keynesian State-Wreck Ahead – Sundown In America

Flashback:

– David Stockman: The Entire Economy Is A Ponzi Scheme!

Former OMB Director David Stockman: ‘We’re At The Fiscal Endgame’ (Video)

Former Budget Director David Stockman: Warns on US ‘Bond Armageddon’; First Default Could Be to IMF


David Stockman Explains The Keynesian State-Wreck Ahead – Sundown In America (ZeroHedge, Oct 5, 2013):

David Stockman, author of The Great Deformation, summarizes the last quarter century thus: What has been growing is the wealth of the rich, the remit of the state, the girth of Wall Street, the debt burden of the people, the prosperity of the beltway and the sway of the three great branches of government – that is, the warfare state, the welfare state and the central bank… What is flailing is the vast expanse of the Main Street economy where the great majority have experienced stagnant living standards, rising job insecurity, failure to accumulate material savings, rapidly approach old age and the certainty of a Hobbesian future where, inexorably, taxes will rise and social benefits will be cut… He calls this condition “Sundown in America”.

SUNDOWN IN AMERICA: THE KEYNESIAN STATE-WRECK AHEAD

Remarks of David A. Stockman at the Edmond J. Safra Center for Ethics, Harvard University, September  26, 2013

The median U.S. household income in 2012 was $51,000, but that’s nothing to crow about. That same figure was first reached way back in 1989— meaning that the living standard of Main Street America has gone nowhere for the last quarter century. Since there was no prior span in U.S. history when real household incomes remained dead-in-the-water for 25 years, it cannot be gainsaid that the great American prosperity machine has stalled out.

Even worse, the bottom of the socio-economic ladder has actually slipped lower and, by some measures, significantly so. The current poverty rate of 15 percent was only 12.8 percent back in 1989; there are now 48 million people on food stamps compared to 18 million then; and more than 16 million children lived poverty households last year or one-third more than a quarter century back.

Likewise, last year the bottom quintile of households struggled to make ends meet on $11,500 annually —-a level 20 percent lower than the $14,000 of constant dollar income the bottom 20 million households had available on average twenty-five years ago.

Read moreFormer US Budget Director David Stockman Explains The Keynesian State-Wreck Ahead – Sundown In America

Former OMB Director David Stockman: ‘We’re At The Fiscal Endgame’ (Video)

OMB’s Stockman: “We’re At The Fiscal Endgame” (ZeroHedge, July 16, 2012):

To those on the hill and elsewhere who suggest this growing ‘fiscal cliff’ and ‘debt ceiling’ crisis will all get solved, former Office of Management and Budget (OMB) Director David Stockman tells Bloomberg TV that “they will punt, punt, punt and kick the can with partial solutions driven by eleventh hour crisis-based extensions that will go on for the whole of the next term!” When asked whether this economy will be mired in the doldrums, he rather ominously states “it will be worse, because we will be in recession” and notes that when the lame ducks re-look at the budget numbers with a realistic recession (instead of the current assumption of no recession within 12 years) it will be far worse and in a political environment where ‘we cannot possibly raise taxes – and we cannot possibly cut spending’. With a 78% disapproval rating for the ‘do nothing’ Congress, Stockman is surprised that 16% somehow approve – approve of what? His warning is that unlike in past periods, today “we are completely paralyzed, there is an ideological divide on taxes and entitlement like we’ve never had before” and while he realizes that “the debt problem doesn’t become a debt problem until the market suddenly have a wake up call and realize that if the Fed doesn’t keep printing, it’s game over.”

“The fact that rates are so low is not a reflection of the US as a safe-haven but a bet on the Fed not allowing rates to rise.”

“The perverse low-rate environment simply tells Congress that they can borrow a trillion dollars for 10 billion a year.”

If rates rose then it would break this huge partisan stalemate we have today”

“There is a huge costs to stalemate!”

In a little under six minutes, David factually describes the certainly-not-priced-in dismal reality of the political situation we face in the next few months… must watch…

Former Budget Director David Stockman: Warns on US ‘Bond Armageddon’; First Default Could Be to IMF

Stockman: Warns on U.S. “Bond Armageddon”; First Default Could Be to IMF (EconoyPolicy Journal, June 21, 2011):

David Stockman, former Budget Director under Ronald Reagan, told CNBC’s Nicole Lapin that the first default by the United States government could be a payment to the International Monetary Fund. Lapin reports:

He said that this careless “shoveling” of money could lead to a default here in the U.S.— and suggested that the first default will be on our payments to the IMF.

Overall, Stockman doesn’t think much of the IMF or what the rescue attempts of the PIIGs are doing in Europe. Lapin again:

We’re doomed on both sides of the pond, he told me on the set of “Worldwide Exchange,” and he didn’t hold back in name-calling the “lunatics” responsible for our global fiscal mess—especially the EU and the IMF.

In Europe, Stockman raged against a dichotomy of tax and debt slavery created by the EU: “They’re attempting to go turn the prudent Europeans of the north into permanent tax slaves in order to bail out the big banks in France and Germany and elsewhere who don’t deserve a bailout,” he said, adding that, “In order to accomplish that, they will attempt to turn the millions the of people who live in southern Europe into permanent debt slaves in order to pay the piper from the guarantees coming from the north.”…“The IMF is an absurd institution,” he said. “It’s destructive. It’s the source of holding this whole thing together with bailing wire.”

“And the sooner their number is called, he said, “The better off I think we’ll all be.”

What does he think of the U.S. situation? He told Lapin:

First off, as an investor, he’s short bonds and warned me of “bond Armageddon,” where rates could potentially go up to five percent.

Read moreFormer Budget Director David Stockman: Warns on US ‘Bond Armageddon’; First Default Could Be to IMF