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David Stockman Presents: The Revenge Of Bad Money
By David Stockman as originally published on Contra Corner and reprinted here with permission
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Only one constant in life [especially economic]: “Things change, they always do.”
Maybe in the far, far, really far future, the doddering Game Show Host in Chief will be noted as the last of the insanity.
I just hate living through it.
The thing about debt is that one must assume it – stated differently, as the man would say – you own it. Of course (speaking to private debt), that can be just choice. One does not ‘need’ a 4000 sq ft home to raise one kid within, but I know many that think so. I do believe that when China has to face the same as the US did with our mercantile upbringing that they will HAVE to recognize the worker, the base of capital, which, will be rather thrilling..
Stockman overuses the phrase “stated differently”, which is ironic, as all of his articles say the same thing, only restated differently.