David Stockman - Flee The 'Casino' Market, Now Is The Time For Capital Preservation
Discussed in this interview:04:18 Real negative fed funds rate reflated Wall Street08:18 Central banks controlled by unelected posse have run amok11:44 About time we end the Fed?20:07 Do deficits matter to the United States?23:01 No empirical evidence to support Fed's 2% inflation target26:51 How Greenspan started the Federal Reserve on the path to wealth destruction33:31 When Nixon closed the gold window in 197137:23 How David Stockman would approach the fixing of the US economy
David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the author of The Great Deformation: The Corruption of Capitalism in America