Skip to comments.Former Reagan Budget Director Despairs: ‘I Wouldn’t Touch the Stock Market With a 100-Foot Pole’
Posted on 03/03/2012 2:52:46 PM PST by Lazlo in PA
He was an architect of one of the biggest tax cuts in U.S. history. He spent much of his career after politics using borrowed money to take over companies. He targeted the riskiest ones that most investors shunned car-parts makers, textile mills.
That is one image of David Stockman, the former White House budget director who, after resigning in protest over deficit spending, made a fortune in corporate buyouts.
Former Reagan Budget Director Despairs: I Wouldnt Touch the Stock Market With a 100 Foot Pole
But spend time with him and you discover this former wunderkind of the Reagan revolution is something else a scared investor who doesnt own a single stock for fear of another financial crisis.
Stockman suggests youd be crazy to hold anything but cash now, and maybe a few bars of gold. He thinks the Federal Reserves efforts to ease the pain from the collapse of our national leveraged buyout his term for decades of reckless, debt-fueled spending by government, citizens, and companies is pumping stock and bond markets to dangerous heights.
(Excerpt) Read more at theblaze.com ...
Demographically the US is in better shape than Europe, but the population curve isn’t great.
With baby boomers retiring and hitting their peak earning years - the market isn’t going to increase, but decrease.
Not only is the generation coming behind them smaller, they also have about a 25 percent drop in their standard of living. This is going to be a drag on the economy, and real economic growth for the next 20-25 years.
Of course Obama and his policies are exacerbating the situation. The US was in the position to dominate the free world, but Obama in just 3 short years has squandered this position. Now America has a significant debt that is going to take about 10-15 years to fix.
No I don’t think you do understand how it’s done nor do you understand the present constraints in the politically intransigent bodies that are in DC.
The link I gave you above is by a highly respected constitutional law professor at Georgetown School of Law and who has more connections that you ever will to lawmakers and political power brokers.
It’s not about making a new constitution, it’s about a new amendment to reign in the commerce clause abuse and repeal the 16th which is at root of the socialism we now face and which will be used to uphold Obamacare.
So it’s about one amendment and the professor talks about how to do it at the statehouse level rather than the impossible congressional level. And in case you didn’t notice the Tea Party was even more successful at the state level in 2010 than in Wash DC.
So the information is there and it is good information even if you did not bother to read, at least others will.
>>No I dont think you do understand
I don’t give a rats hiney what you think I do or do not understand ya flatulent gas bag.
You and your Georgetown Ivory Tower politico power whores can amend the constitution until you turn blue in the face.
That’s not going to stop the Marxist in the White Hut from wiping his arse with it.
THEY DO NOT GIVE A SHYTE WHAT THE LAW IS, get it?
From the Vampire Economy:
THE Berlin Stock Exchange still existsas a building,
as an institution with large offices, with brokers and
bankers, with a huge organization for daily announcement
of stock and bond quotations. But it is only a
pale imitation of its former self and of what a stock
exchange is supposed to be. For the Stock Exchange
cannot function if and when the State regulates the flow
of capital and destroys the confidence of investors in
the sanctity of their property rights.
The glorious days when millions of marks daily
poured into the Stock Exchange, when the bonds and
securities of foreign countries were handled, when new
concerns and trusts were promoted and exciting speculative
maneuvers were stagedthose glorious times have
long since departed, and even the doorkeeper who
vividly remembers the excitement of the “good old days”
does not believe that they will ever return. Yet the
decrepit machine still runs......................................
>>the fact that our population keeps growing.
Uhuh. Please press 3 for English.
How effectively would you say this “growing population” has been assimilated to the degree that they’d be willing to defend, or give their sons and daughters in the defense of, this country?
From what i’ve seen, there are quite a few hispanics in the US military. In fact, if you look at casualty lists, there are a lot of hispanic surnames. One of the first casualties of the Iraq war was a guy named Jose Gutierrez, a Guatemalan (not even a US citizen).
Agreed. My father is a German immigrant and got drafted as soon as he got here. He could barely speak english!!
It isn’t the Georgetown professor that is making it up. It is the Founders who left you a means to address grievances without Congress and without the President.
It is a backup plan that you and others should know about. You should be aware of it and know when it can be of use. It has been used before but when Congress saw how serious the People were when they were organizing to use it, they decided to get with the program and amend the Constitution according to the will of the People. So the backup plan was not used but it caused Congress to pay attention. And that is in the subtitle to Professor Barnett’s article “How Tea Partiers can make Washington pay attention”.
So the Georgetown professor is doing a public service by reminding and educating what the Founders left the People with in case Congress and the President let them down.
So I suggest readers take a look. It won’t hurt them to know what their options are:
Dems want the economy humming for election day... all the excess pumping will make the coming crash much worse - but hell, they want to get dems elected - and isn't that worth it? Let the country go broke - just to get more dems elected... /s
“Wasnt he the one who coined the phrase voodoo economics in response to Reagans trickle down?”
No, that phrase came from GHW Bush.
“Second: Trickle down was the term coined by Democrats to disparage supply side economics. I challenge anybody to find a quote where Reagan used the phrase trickle down.”
Let us know when Prooofessor Barnett writes an article about why Doug Bruce, Tea Partier and TABOR author, is staring at the ceiling of a jail cell this evening. Ok?
Or maybe he’ll write an article about how the self-appointed “leaders” of the Colorado Tea party managed to endorse a Kansas ass-clown former LEO who, oops, got fired for feeding information to the local organized crime syndicate.
It’s all about “connections”, right dipstick?
I’ll say it again - a constitutional convention is the LAST Charley Foxtrotting can of worms we need opened in an environment of popular Useful Idiocy where the Wolves are managing the store on Wall Street; where We the Sheeple managed to put a Marxist Weatherman in the White Hut — and close to 50% of the Hopee Changee proletariat ~still thinks that was a good idea.
How Tea Partiers can make Washington pay attention
Simple. We Charlie Mike. We get more seats. We get their attention by pouring enough Tea into the Capital dome to scald the feathers off of any Party Parrot that manages to land in the White Hut - and we keep IMPEACHING them until we get an American POTUS again.
Don’t need no WallStreet Journal corporatista parrot wearing Juris Doctorate plumage to figure that out.
>>without Congress and without the President.
Leaving it up to the States whose Attorney General legal Suuuuper Geniuses granted Argent Mortgage immunity in their deal with Ameriquest --immunity that was evidently gamed into a license to burn rape and pillage the Republic ala even more fraudulent A$$Paper?
"At a recent fraud seminar attended by hundreds of mortgage lenders in Washington D.C. a week ago, an attorney who works for Argent's retained law firm, Buchalter Nemer, stood up and told the seminar attendees that the wholesale lenders in the audience had better beware, unless their name is Argent. Argent is safe from investigation because the government got their $325 million settlement from Ameriquest and won't be looking into Argent, per the settlement agreement. I hope this isn't true because Argent Mortgage funded over $50 billion in 2005 and is gearing up to fund well over $80 billion dollars of fraudulent loans in 2007."
FAIL. NO SALE.
Having trouble staying on message?
I don’t believe anyone on FR has written of a Doug Bruce as the face of the Tea Party movement.
And this litany of useless references of yours goes to revealing that you have a problem that you should seek professional help with. Suggest you seek that help and good luck with it.
Further personal attacks will have consequences.
Remember the "Beardstown Ladies", a ladies' investing club that bragged about their investing performance in national media? Turned out that they innocently made the same mistake when calculating their rate of return.
Amazing, but I think this is a common mistake people make. They don’t look past the obvious and some people are just no good with numbers. Of course, there are numbers and there are numbers.
I had a grandmother who was a numbskull with numbers, but if you put dollar signs in front of them, she became a human calculator.
I’m just not surprised by anyone who miscalculates their gains or their losses in the market. Many people don’t put a lot of thought and effort into something so important.
[I dont believe anyone on FR has written of a Doug Bruce as the face of the Tea Party movement.]
He’s more of an active “face of the Tea Party movement” than your jackwagon GeorgeTOON professor is.
>>Further personal attacks will have consequences.
LOL. Go take your meds super spook.
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