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Excellent CNBC interview with David Stockman, President Reagan’s head of OMB, who speaks his mind and never holds back. Some dismiss him as a perma-bear and doomsayer.
We certainly don’t, just has been a bit early, like every analyst and economist worth their salt. His analysis and model are sound.
Way - Someone - Tick - Bottom - Timing
By the way, if you ever meet someone who claims they always top tick or buy every bottom, and have perfect timing, run as fast as you can.
Moreover, the former “beltway boy wonder” doesn’t have to make his money trading and can maintain his conviction without going bankrupt or losing his career. He will eventually be right. It’s all timing, my friends.
Today - Honesty - Mr - Stockman - Supporter
Listening to him today, we respect him even more for his intellectual honesty. We have always perceived Mr. Stockman as a supporter of the president, but we could be wrong.
He never allows his politics to warp his analysis. Rare and refreshing.
President - Reagan - Statements - Atlantic - Monthly
He was famously “taken to the woodshed” by President Reagan for his statements in a 1981 Atlantic Monthly article, that “supply-side economics — the backbone of the Reagan economic revolution – was a ‘Trojan horse’ that would ultimately benefit the rich.”
He laid it all out there today and held nothing back.
Trade - War - Deficits - Reagan - WH
Massive trade war won't solve deficits, says former Reagan WH budget director from CNBC.
*the interview was concluded before the announcement of a 10 percent on an additional $200 billion of Chinese imports was published by the USTR after the market close.
Sorry, Mohamed, we love you but...
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