Between January 21, 1981 and August 1, 1985, David Stockman was Ronald Reagan’s Director of the Office of Management and Budget. He also served in congress between January 3, 1977 to January 21, 1981.
If you’ve been looking for a better understanding of what’s really happening in the economy and what to expect in the next few years, listen to this interview. It’s an alternative view to what you might hear in the main stream media and sounds much more realistic and reasonable.
He has some very hard words for the keynesians (economic philosophy of current powers-that-be) in this interview saying that we’ve been riding an economic bubble inflated by debt creation for the last 30 years. At some point he expects ‘the great margin call in the sky to come down’ and crash the markets when the speculation and borrowing is forced to stop.
His advice is simple, take the manipulation out of the markets and preserve your own wealth by staying out of the markets. He doesn’t expect hyperinflation but he does suggest holding cash and precious metals.