Stockman: The election will create market chaos
David Stockman, former White House Budget Director in the Reagan Administration and best-selling author, meets with Yahoo! Finance to discuss a potential Trump presidency and what that means for Flyover America and looming market chaos. He also has a brand new book titled, TRUMPED! that is out now.
“That whole group from Greenspan, to Bernanke to Yellen has basically pulled what you could describe as a coup d’etat. They have taken over the entire financial system. Look at the Wall Street system from day to day where everything trades on the last word uttered by the Fed.”
Stockman explained, “In a world where Flyover America competes where, if they are in goods producing, with the China price – or if they are in services jobs, with the India price – you want a deflationary economy for that kind of competition. For the Fed to say we want a 2% inflation and we will continue pumping and stimulating until we get it is a crushing blow to Flyover America. As a result, wages are going up but real wages are falling.”
For more on Stockman’s latest book TRUMPED! A Nation on the Brink of Ruin… And How to Bring It Back find it here.
Ed. Note: Sign up for a FREE subscription to The Daily Reckoning, and you’ll receive regular insights for specific profit opportunities. By taking advantage now, you’re ensuring that you’ll be set up for updates and issues in the future. It’s FREE.