SBTV spoke with David Stockman, the former Director of the Office of Management and Budget under President Ronald Reagan, about how the Federal Reserve's policies are sending the economy into a prosperity-extinguishing crisis. David Stockman is also the author of several books including his latest book Peak Trump: The Undrainable Swamp and the Fantasy of MAGA.
Discussed in this interview:
- 04:18 Real negative fed funds rate reflated Wall Street
- 08:18 Central banks controlled by unelected posse have run amok
- 11:44 About time we end the Fed?
- 20:07 Do deficits matter to the United States?
- 23:01 No empirical evidence to support Fed's 2% inflation target
- 26:51 How Greenspan started the Federal Reserve on the path to wealth destruction
- 33:31 When Nixon closed the gold window in 1971
- 37:23 How David Stockman would approach the fixing of the US economy
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.