Interview with David Stockman

Absolutely fascinating (and slightly scary) interview here:

When will the message get through that it is the state apparatus which destroys prosperity and the well being of ordinary people not ‘greedy bankers’ non-existent ‘capitalism’ or insufficient regulation?

Anyway, the message is stay liquid and ultimately buy gold!

One Response to “Interview with David Stockman”

  1. James Higham July 26, 2012 at 06:51 Permalink

    Didn’t like his manner in places – “just let me finish, please” – when the interviewer was following all he said – and “the Keynesians were right” raised the eyebrows until he qualified it by saying that borrowing adds to GDP because the Keynesians define GDP but it doesn’t add to value or growth.

    Interesting he said the dollar won’t collapse because all the other currencies are worse and I’ve always thought it would be artificially propped up, just as in Russia, in 1998, the rouble was held in position by legislation. Couldn’t trade with the world but hey – who wanted to? Russia could trade with itself.

    What really happened was a moratorium on foreign debt in exchange for the market economy coming in open slather and in modern terms, that means credit debt for all.

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