Look at what's happening between Main Street and Wall Street. The stock market index is up 136 percent from the bottom. Middle class jobs lost during the correction: six million. Middle class jobs recovered: one million. So therefore we're up 16 percent on the jobs that were lost. These are only born-again jobs. We don't really have any new jobs, and there's a massive speculative frenzy going on in Wall Street that is disconnected from the real economy.
David StockmanIn short, Mr. Ryanโs plan is devoid of credible math or hard policy choices. And it couldnโt pass even if Republicans were to take the presidency and both houses of Congress. Mr. Romney and Mr. Ryan have no plan to take on Wall Street, the Fed, the military-industrial complex, social insurance or the nationโs fiscal calamity and no plan to revive capitalist prosperity - just empty sermons.
David StockmanI think the stock market is a very dangerous place to be at the present time. In fact, the stock market today is almost identical to where it was in October 2007 and then there was a $7 trillion crash and before that in March 2000.
David StockmanThe Republican Party, as much as it pains me to say this, should be ashamed of themselves.
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 StockmanI don't think that Mitt Romney can legitimately say that he learned anything about how to create jobs in the LBO (leveraged buyout) business. The LBO business is about how to strip cash out of old, long-in-the-tooth companies and how to make short-term profits. All the jobs that he talks about came from Staples. That was a very early venture stage deal. That, you know they got out of long before it got to its current size.
David Stockman