Please see the source for the video.
David Stockman is warning about the Trump administration’s tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off.
Stockman, the Reagan administration’s director of the Office of Management and Budget, isn’t stepping away from his thesis that the 8½-year-old rally is in serious danger.
Please see the source for the video.
“Under a Trump victory, all bets are off,” warns former Director of the Office of Management and Budget under President Ronald Reagan, David Stockman. “I like [Trump] because he’s against the establishment, but he has no economic program. Yes, he’s a disruptor, but has nothing to disrupt with,” Stockman told CNBC, “if elected, it will be partisan warfare and a total disaster.”
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“The markets are hideously inflated… If you don’t sell before the election, certainly do it afterwards. Government is going to be totally paralyzed regardless of who wins… There could be a 25 percent draw down on markets.” Continue reading
The US defense budget was unveiled by the administration and sent to Congress February 9, 2016 and already the “military critics” and their long knives are anticipating how to disembowel critical elements of our nation’s military.
For example, Mr. Gordon Adams, previously at the Office of Management and Budget in the Clinton administration and Mr. Lawrence Korb at the Center for American Progress, are both calling for the dismantlement of the US nuclear deterrent.
Mr. Adam’s proposals not only will save almost no money over the near term, any delay in the acquisition of the new submarine is fraught with danger. For example, already the hull life we are expecting from the current submarines will be greater than any other submarine in our nation’s history. Continue reading
But Stockman says blame lays not with the tax code (indeed, he pioneered a trickle-down approach to taxes under Reagan) but with the Fed.Obama “is talking about a symptom, but he’s clueless as to the cause. The cause is not capitalism. The cause is not some entrepreneur out there trying to invent something and improve the performance of his business. The problem is in the Eccles building [home to the main office of the Fed] and in the 12 people sitting there and thinking that interest rates are some magic elixir that’ll cause this very troubled and difficult economy to revive,” Stockman said. Continue reading
Ban has been in place since 1983
The Obama administration has lifted longtime restrictions on Libyans attending flight schools in the United States and training here in nuclear science, according to a final amendment of the ban recently approved by the Office of Management and Budget (OMB).
Less than two years after the deadly terrorist attacks in Benghazi, Libya that killed four Americans, the Department of Homeland Security (DHS) is poised to sign off on an amendment reversing the ban, which was enacted following a wave or terrorist attacks in 1980s and prevents Libyans from studying these sensitive trades in the United States.
The original law effectively disqualified all Libyan nationals and those “acting on behalf of Libyan entities” from training in “aviation maintenance, flight operations, or nuclear-related fields,” according to the ban.
DHS said the prohibition is irrelevant now since the United States and Libya have worked to “normalize their relationship,” according to the directive approved by the OMB. Continue reading
Essentially, what we have is an overvalued market where investors have seen a prolonged period of rises and have jumped to the conclusion that the markets are all good again. However, they’re missing the critical fact that it’s all built on hot air. The best examples, like the article pointed out are Facebook, Pintrest and Twitter… all of which have never seen a profit, yet are suppoed to be worth millions and billions (Facebook). It’s a fool’s rush to the top of the financial mountain to see who the biggest idiot is before it all implodes in a financial crash likely worse than 2008’s, or possibly the worst in U.S. history.
One of the men that won the Nobel Prize for economics this year says that “bubbles look like this” and that he is “most worried about the boom in the U.S. stock market.” But you don’t have to be a Nobel Prize winner to see what is happening. It should be glaringly apparent to anyone with half a brain. The financial markets have been soaring while the overall economy has been stagnating. Reckless injections of liquidity into the financial system by the Federal Reserve have pumped up stock prices to ridiculous extremes, and people are becoming concerned. In fact, Google searches for the term “stock bubble” are now at the highest level that we have seen since November 2007. Despite assurances from the mainstream media and the Federal Reserve that everything is just fine, many Americans are beginning to realize that we have seen this movie before. We saw it during the dotcom bubble, and we saw it during the lead up to the horrible financial crisis of 2008. So precisely when will the bubble burst this time? Nobody knows for sure, but without a doubt this irrational financial bubble will burst at some point. Remember, a bubble is always the biggest right before it bursts, and the following are 15 signs that we are near the peak of an absolutely massive stock market bubble… Continue reading
Those who deny the reality of financial terrorism tend to use the same basic arguments. One of those is built on the idea that everyone is motivated by money and so no one would intentionally harm America’s economy. There are many flaws in this reasoning and we will likely catalog them in a future post. Another set of arguments is built on the idea that we brought on the decline all by ourselves through terrible monetary and fiscal policy. There is truth in this line of reasoning but it is not the whole truth.
Few people recall that a little over a decade ago our government was running a budget surplus. In fact in December 2000, the Office of Management and Budget projected that the entire Federal debt would be paid off by 2010. Imagine that. It was less than a dozen years ago but it seems like more than a lifetime. Now, we are almost $16 trillion in debt with $1 trillion deficits projected for years to come.
It was in this context that al Qaeda attacked the World Trade Center with the intention of harming the American economy. Bin Laden even stated as much in his December 2001 speech taking credit for 9/11. This was noted in a September 11, 2007 US News article that actually made the case that bin Laden had failed in his economic attack. Ironically this article was written right as the stock market was peaking just before the horrible 2008-09 collapse still haunting us today.
Full article: Understanding the Big Picture (Kevin Freeman/Global Economic Warfare)
Global Geopolitics 