I invest in anything that Bernanke can't destroy, including gold, canned beans, bottled water and flashlight batteries.
David StockmanThe stock market in Japan was half the world market and where has the Japan economy gone since the 1990s? Nowhere. They've been struggling for two decades in the aftermath of a massive bubble that's collapsed. They've tried to work their way out of it by printing even more money and it hasn't worked. Now, I'm saying this is what all the central banks are doing. There is no honest interest rate in the world today.
David StockmanThen, when the Fed's fire hoses started spraying an elephant soup of liquidity injections in every direction, and its balance sheet grew by $1.3 trillion in just thirteen weeks compared to $850 billion during its first ninety-four years, I became convinced that the Fed was flying by the seat of its pants, making it up as it went along. It was evident that its aim was to stop the hissy fit on Wall Streetm and that the thread of a Great Depression 2.0 was just a cover story for a panicked spree of money printing that exceeded any other episode in recorded human history.
David StockmanIt's kind of hard to sell 'trickle down,' so the supply-side formula was the only way to get a tax policy that was really 'trickle down.' Supply-side is 'trickle-down' theory.
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 Stockman