David Stockman – This Financial Collapse Will Be Catastrophic

Today David Stockman stunned King World News when he warned the coming financial collapse is “going to be catastrophic.”  Stockman also said that we will see “massive selling” of overpriced financial assets, but he also made the frightening prediction that “there won’t be any bids.”  KWN takes Stockman’s warning very seriously because he is the man former President Reagan called on in 1981, during that crisis, to become Director of the Office of Management and Budget.  He also spoke about what this means for gold and other major markets.  Below is what Stockman had to say in the first of a series of powerful interviews that will be released today.

Stockman:  “They are kind of paralyzed and frozen (the Fed), and now simply making up one excuse after another for delaying the day of reckoning.  This isn’t a good thing because it’s going to shatter confidence.  Therefore, the markets are becoming increasingly unstable.

Eric King:  “How dangerous are these policies they are pursuing?”

Stockman:  “I think they are extremely dangerous because the heart of capitalism is the financial markets, and they have completely destroyed any kind of honest price discovery … It’s all part of a doctrine that’s destined to blow up in my judgement.”

Eric King:  “As you watch this end game unfolding, David, I’m just wondering how disastrous this will be?”

…….Continue reading the David Stockman interview at KING WORLD NEWS

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