{"id":8220,"date":"2015-05-18T09:30:05","date_gmt":"2015-05-18T14:30:05","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8220"},"modified":"2015-05-18T09:30:05","modified_gmt":"2015-05-18T14:30:05","slug":"david-stockman-interview-kick-the-can-economics-is-entering-the-end-game","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8220","title":{"rendered":"David Stockman Interview\u2014\u2014-Kick-The-Can Economics Is Entering The End Game"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/davidstockmanscontracorner.com\/david-stockman-interview-kick-the-can-economics-is-entering-the-end-game\/\" target=\"_blank\">David Stockman Interview\u2014\u2014-Kick-The-Can Economics Is Entering The End Game<\/a><\/h3>\n<p>Today David Stockman,\u00a0the man President Ronald Reagan called upon\u00a0along with Dr. Paul Craig Roberts\u00a0to help save the United States from disaster in 1981,\u00a0warned King World News that we are now entering the \u201cterminal phase\u201d of the global financial system that will end in total collapse.<\/p>\n<p>Eric King:\u00a0 \u201cDavid, I wanted to get your thoughts on gold in the midst of this big deflation you think is in front of us.\u00a0 When you look at the collapse of 2008 \u2013 2009, gold was one of the best performing asset classes.\u00a0 Gold went down but it went down much less relative to virtually everything else.\u00a0 Contrast that to 1973 \u2013 1974, where we had a 47 percent stock market collapse. \u00a0But during that time we had skyrocketing gold and silver.\u00a0 What\u2019s in front of us because it looks like gold and silver may be ending a 4 year bear market and ready for a 1973 \u2013 1974-style up-move?\u201d<\/p>\n<p>David Stockman:\u00a0\u00a0\u201cYes.\u00a0 I think the two periods are quite different.\u00a0 Although at the bottom it\u2019s central bank errors that underlie each.\u00a0 But remember that in the 1970s we had just finally exited a semi-stable Bretton Woods Gold Exchange Standard system.\u00a0 There still was, at the end of the day, an anchor on the central banks that was thrown overboard by Nixon in 1971\u2026.<\/p>\n<p>Continue reading the David Stockman\u00a0interview below\u2026<\/p>\n<p>\u201cSo the first go-round was a rip-roaring price inflation because there had not yet been enough time under the fiat money and balance sheet expansion by the central banks to create excess capacity in the world industrial\u00a0system.\u00a0 So as the boom in demand took off, commodity prices soared.\u00a0 That fed into domestic costs and labor wages in particular.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p><b>\u00a0<\/b><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>David Stockman Interview\u2014\u2014-Kick-The-Can Economics Is Entering The End Game Today David Stockman,\u00a0the man President Ronald Reagan called upon\u00a0along with Dr. Paul Craig Roberts\u00a0to help save the United States from disaster in 1981,\u00a0warned King World News that we are now entering the \u201cterminal phase\u201d of the global financial system that will end in total collapse. Eric [&hellip;]<\/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":[936,124,2120,202,994,374,426,534,2951,3098],"class_list":["post-8220","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bretton-woods","tag-central-banks","tag-david-stockman","tag-deflation","tag-endgame","tag-gold","tag-inflation","tag-monetary-policy","tag-paul-craig-roberts","tag-ronald-reagan"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8220","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=8220"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8220\/revisions"}],"predecessor-version":[{"id":8221,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8220\/revisions\/8221"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}