03-20-20, 10:50 AM
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#8967
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Rear Admiral 
Join Date: Nov 2002
Location: Zendia Bar & Grill
Posts: 12,012
Downloads: 10
Uploads: 0
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https://www.cnbc.com/2020/03/19/stoc...-is-toast.html
Quote:
“Wall Street is toast,” he told CNBC’s “Trading Nation” on Thursday. “It’s going to end as a financial crisis because the illusion that central banks always have your back and the economy would keep expanding and growing forever and ever ... was complete nonsense.”...
... Stockman contends help from the Federal Reserve won’t be effective.
“We need to let the stock market work. We need to get the Fed out of the way. We need higher interest rates not lower, so all this speculation can get cleaned out of the system,” he said.
On the fiscal side, Stockman suggests the country cannot afford the price tag to bail out the country. A fierce critic of President Trump, he contends the administration’s plan to hand out $2,000 to every American is financially irresponsible and will only postpone an inevitable recession.
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Batten down the hatches there's gonna be some crazy days ahead.
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Guardian of the honey and nuts
Let's assume I'm right, it'll save time.
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