Stockman: This Financial Collapse Will Be Catastrophic
King World News
Today David Stockman stunned King World News when he warned the coming financial collapse is “going to be catastrophic.” Stockman also said that we will see “massive selling” of overpriced financial assets, but he also made the frightening prediction that “there won’t be any bids.” KWN takes Stockman’s warning very seriously because he is the man former President Reagan called on in 1981, during that crisis, to become Director of the Office of Management and Budget. He also spoke about what this means for gold and other major markets. Below is what Stockman had to say in the first of a series of powerful interviews that will be released today.
Stockman: “They are kind of paralyzed and frozen (the Fed), and now simply making up one excuse after another for delaying the day of reckoning. This isn’t a good thing because it’s going to shatter confidence. Therefore, the markets are becoming increasingly unstable….
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Whistler Blowers, Insiders
During his tenure with the Reagan administration I remember his famous line “We really don’t know what the out come of all this will be”. Through I liked Reagan and Stockman some of their policies were not helpful and only added to the mess that we are now in. So I would take Stockman’s words with a bit of” trust but verify “attitude.
MARTIAL LAW IMMINENT, title of my recent BIN article
http://www.zerohedge.com/news/2013-10-07/suddenly-nervous-china-tells-us-earnestly-take-steps-avoid-default
And while China is nervous, CNN tells investors at money.cnn.com that a default would make US T.bonds a safe haven play