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David Stockman: America Now Lives Under A 'Perverted Regime'

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  • #46
    basically B.H. Obama, is the Bernie Madoff of the White House....he has been he overseer of a government Ponzi scheme, not seen since FDR was in office. Obama has fudged the numbers and definitions in his statistics to make the outcome match his political ambitions, he has spent money like a drunken sailor, spent more money on golf and vacations than Thomas Jefferson owed when he died (
    Thomas Jefferson, our third president, died with debts of $107,000, which is roughly $2 million today
    If you look in the dictionary under the word "narcissistic" there is a partial photo of Obama's head as his entire head photo would not fit on one page.


    • #47
      Obama Hands Trump Huge Bubble


      • #48
        What is Obama leaving for Trump on US Economy ( Stastics )


        • #49
          Gundlach’s Forecast for 2017

          His Presentation ------>


          • #50
            Gundlach: Trump’s policies will boost short-term growth


            • #51
              Gundlach: Bond Market ‘Ridiculously’ Oversold


              • #52
                David Stockman: We are heading into an absolute fiscal bloodbath


                • #53
                  Economist-mathematician Nassim Nicholas Taleb contends that there is a global riot against pseudo-experts

                  After predicting the 2008 economic crisis, the Brexit vote, the U.S. presidential election and other events correctly, Nassim Nicholas Taleb, author of the Incerto series on global uncertainties, which includes The Black Swan: The Impact of the Highly Improbable, is seen as something of a maverick and an oracle. Equally, the economist-mathematician has been criticised for advocating a “dumbing down” of the economic system, and his reasoning for U.S. President Donald Trump and global populist movements. In an interview in Jaipur, Taleb explains why he thinks the world is seeing a “global riot against pseudo-experts”.

                  ‘Trump makes sense to a grocery store owner’
                  In Skin in the Game, you seem to build on theories from The Black Swan that give a sense of foreboding about the world economy. Do you see another crisis coming?

                  Oh, absolutely! The last crisis [2008] hasn’t ended yet because they just delayed it. [Barack] Obama is an actor. He looks good, he raises good children, he is respectable. But he didn’t fix the economic system, he put novocaine [local anaesthetic] in the system. He delayed the problem by working with the bankers whom he should have prosecuted. And now we have double the deficit, adjusted for GDP, to create six million jobs, with a massive debt and the system isn’t cured. We retained zero interest rates, and that hasn’t helped. Basically we shifted the problem from the private corporates to the government in the U.S. So, the system remains very fragile.

                  You say Obama put novocaine in the system. How will the Trump administration be able to address this?

                  Of course. The whole mandate he got was because he understood the economic problems. People don’t realise that Obama created inequalities when he distorted the system. You can only get rich if you have assets. What Trump is doing is put some kind of business sense in the system. You don’t have to be a genius to see what’s wrong. Instead of Trump being elected, if you went to the local souk [bazaar] in Aleppo and brought one of the retail shop owners, he would do the same thing Trump is doing. Like making a call to Boeing and asking why are we paying so much.

                  You’re seen as something of an oracle, given that you saw the 2008 economic crash coming, you predicted the Brexit vote, the outcome of the Syrian crisis. You said the Islamic State would benefit if Bashar al-Assad was pushed out and you predicted Trump’s win. How do you explain it?

                  Not the Islamic State, but al-Qaeda at the time, and I said the U.S. administration was helping fund them. See, you have to have courage to say things others don’t. I was lucky financially in life, that I didn’t need to work for a living and can spend all my time thinking. When Trump was running for election, I said what he says makes sense to a grocery store owner. Because the grocery guy can say Trump is wrong because he can see where he is wrong. But with Obama, he can’t understand what he’s saying, so the grocery man doesn’t know where he is wrong.

                  Is it a choice between dumbing down versus over-intellectualisation, then?

                  Exactly. Trump never ran for archbishop, so you never saw anything in his behaviour that was saintly, and that was fine. Whereas Obama behaved like the Archbishop of Canterbury, and was going to do good but people didn’t feel their lives were better. As I said, if it was a shopkeeper from Aleppo, or a grocery store owner in Mumbai, people would have liked them as much as Trump. What he says makes common sense, asking why are we paying so much for this rubbish or why do we need these complex taxes, or why do we want lobbyists. You can call Trump’s plain-speaking what you like. But the way intellectuals treat people who don’t agree with them isn’t good either. I remember I had an academic friend who supported Brexit, and he said he knew what it meant to be a leper in the U.K. It was the same with supporting Trump in the U.S.

                  But there were valid reasons for people to be worried about Trump too.

                  Well, if you’re a businessman, for example, what Trump said didn’t bother you. The intellectual class of no more than 2,00,000 people in the U.S. don’t represent everyone upset with Trump. The real problem is the ‘faux-expert problem’, one who doesn’t know what he doesn’t know, and assumes he knows what people think. An electrician doesn’t have that problem.
                  Last edited by AustinJ; 07-02-2017, 03:46 AM.


                  • #54
                    Stockman: Market 'will not be pretty' under Trump



                    • #55
                      Interview with Alan Greenspan Chairman of the Federal Reserve from 1987 to 2006

                      Gold: The ultimate insurance policy


                      • #56
                        The Deep State and the Donald | David Stockman