David Stockman | Recession Is Coming - Americans Living On Borrowed Time
David Stockman, former congressman and budget director for President Ronald Reagan joins Sprott Media's Remy Blaire at the NASDAQ MarketSite. Stockman warns of a stock market correction and looming political crisis in the U.S., while observing that the Federal Reserve is "out of dry powder."
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