David Stockman: We Will Suffer One Crisis After Another
Published on Jul 16, 2012 by VulgarTrader
Additional analysis plus more interviews with David Stockman here: http://tinyurl.com/c5hsncx where he discusses hyper-inflation, bond yields, and more.
While the chance of a simultaneous worldwide banking failure is not zero, there is another, we would argue much more likely possibility: that we'll manage to bungle our way from one crisis to another, with no satisfactory resolution. Meanwhile, the financial oligarchy will continue to tighten its grip on the state and the population with increasingly devastating results.
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I'd trust David Stockman's input more than I'd trust some people's. I didn't like Stockman when he was a Republican congressman or a high muckety-muck in the Ray-gun administration, but he had a disturbing tendency to be honest, a trait lacking in most of the Reaganite supply-siders, Laffer (Laughter)-curve artists, and the conga-lines of right-wing fiscal charlatans we've seen since 1990. It doesn't mean I agree with him, but it does mean that some of the stuff he says does have to be taken into account.
Stockman is a very rare bird these days, a right-winger who actually has some sort of grip on economic reality. You don't see very many of his sort in the Republican savanna these days; they've been hunted to extinction in right-wing RINO hunts.
