The United States is broke — fiscally, morally, intellectually — and the Fed has incited a global currency war Japan just signed up, the Brazilians and Chinese are angry, and the German-dominated euro zone is crumbling that will soon overwhelm it. When the latest bubble pops, there will be nothing to stop the collapse. If this sounds like advice to get out of the markets and hide out in cash, it is.
David StockmanMain Street has too much debt already. It is simply a bonanza for speculators who can borrow the overnight money and then buy something that they can speculate on.
David Stockman