{"id":58715,"date":"2021-07-23T13:30:37","date_gmt":"2021-07-23T18:30:37","guid":{"rendered":"https:\/\/olduvai.ca\/?p=58715"},"modified":"2021-07-23T13:30:37","modified_gmt":"2021-07-23T18:30:37","slug":"reset-means-crash-of-epic-proportions-david-stockman-revised","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=58715","title":{"rendered":"Reset Means Crash of Epic Proportions \u2013 David Stockman (Revised)"},"content":{"rendered":"
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Reset Means Crash of Epic Proportions \u2013 David Stockman (Revised)<\/a><\/h3>\n<\/header>\n
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\"\"<\/a><\/strong>Reagan White House Budget Director and best-selling author David Stockman says, \u201cThis is not the time to be invested in the markets . . . . A reset is just a pleasant name or a clinical name for a crash of epic proportions, which we will have because the markets are so inflated.\u00a0 There are trillions of dollars that are at risk.\u00a0 To put a dimension on this thing or a way of sizing this, is we have a $60 trillion bubble on the balance sheets of 130 million people in American society, but especially in the top 5% to 10% that own a huge share of the assets.\u00a0<\/span>. . . I have no thought about how big the correction will be, but if it were just back to the norm . . . it would be a $60 trillion correction, and that is a pretty big hole in the bucket. \u00a0If $60 trillion disappears (out of the U.S. economy), it changes everything.\u00a0 It turns the financial system and economic reality upside down.\u201d<\/p>\n

How did things get so perilous in the economy?\u00a0 Stockman says look no further than Washington D.C. and the Fed.\u00a0 Stockman explains, \u201cWhen central banks start to inflate like crazy, you first inflate financial assets.\u00a0 It eventually works its way into goods and services, and that\u2019s where we are now.\u00a0 You get the second stage of inflation as well.\u00a0 There has never been a small group of government officials, unelected at that, who have done more damage, more wanton harm to the economy and to the lives of ordinary people than (Fed Head) Powell and his merry band of mad money printers.\u00a0 This is really an outrage.\u00a0 I say these people are damn near criminally incompetent given what they say about the world, which is totally wrong, given what they\u2019re doing, this massive money printing, which is totally unjustified. . .\u201d<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Reset Means Crash of Epic Proportions \u2013 David Stockman (Revised) Reagan White House Budget Director and best-selling author David Stockman says, \u201cThis is not the time to be invested in the markets . . . . A reset is just a pleasant name or a clinical name for a crash of epic proportions, which we […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2120,1849,8757,501,9699],"class_list":["post-58715","post","type-post","status-publish","format-standard","hentry","category-economics","tag-david-stockman","tag-financial-markets","tag-greg-hunter","tag-market-crash","tag-usa-watchdog"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58715"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58715\/revisions"}],"predecessor-version":[{"id":58718,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58715\/revisions\/58718"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}