A former United States Budget Director has said that president Donald Trump is an “unhinged madman” who is now “conducting four wars on the economy.” David Stockman, the former director of the Office of Management and Budget (OMB) under President Ronald Reagan, told Yahoo Finance’s The Ticker that there is just no way Trump will ever make America great again.
Stockman, who just published Peak Trump: The Undrainable Swamp And The Fantasy Of MAGA, argued that Trump is waging a trade war, a border war, a political war against the Fed, and a war on the nation’s solvency.“We have a delusional, unhinged madman in the Oval Office, and anything is possible,” David Stockman said. “He’s conducting four wars on the American economy, and it’s not going to make it great again.”
The trade war, which Stockman accurately describes as a “war on consumers” seems to have already done untold damage. Farmers are suffering and our food supply could have been irreversibly changed. “The trade war is a war on consumers,” Stockman said. “If it goes from 10% — which is already costing $30 billion a year just on Chinese imports — to higher, that is only going to be that much worse.”
As far as the “border war,” Stockman referred to, he believes that the American workforce is shrinking and unskilled and illegal immigrants are necessary workers. Because of shifting demographics, “the domestic labor force is shrinking,” Stockman explained. “We need immigrant labor. We shouldn’t be having a, you know, silly battle over a wall in a border where there isn’t a crisis.”
Trump’s third war, against the Fed, is the only one that’s actually good. The Federal Reserve is the United States’ central bank and has been the cause and “savior” of every major financial crisis since the Great Depression. But Stockman is upset that Trump expressed concerns that interest rates would rise, ending the “easy money” era. Now borrowing money is more expensive and less are tempted to do so. “He’s [Trump] conducting a political war on the Fed that finally was getting enough courage up to normalize interest rates,” Stockman explained. “For crying out loud, 10 years, interest rates have been below the inflation rate, which means zero money market costs. It’s been a boon like never before to speculators. It’s done nothing for Main Street.”
Stockman’s final gripe with Trump is over the national debt. However, it’s important to note that many of those now concerned expressed little to no desire to reign in Obama’s over the top spending. The national debt is of huge concern to many who simply don’t want to see a societal collapse. But with all politicians on all sides unwilling to cut spending to address the problem, it is all but inevitable. “He’s conducting a war on the nation’s solvency with a fiscal policy that is more out to lunch than anything I’ve seen since 1970 when I started on Capitol Hill,” Stockman fumed. The big challenge was that even though the economy has been expanding at a rapid pace, “we’re in the last months… you don’t raise the deficit to $1.2 trillion at the very tippy top of a business cycle and expect anything but bad results,” said Stockman.
Stockman argued that “we’re going to go into the 2020s with a massive retirement wave from the baby boom, a deficit that is beyond belief in size, and a national debt that’s out of control. It will be a nonstop crisis for the entire decade unless we do something big and quick. And I think it’s too late.”
H/T [Yahoo Finance]
Look at the socialist countries of the world. Their economies are in shambles and they are being run by mad men. This supposed trade war doesn’t seem to be doing the damage that some claim, if anything it’s straightening out what was recently a failed manufacturing segment of our economy. It may be causing some pain, but that will be short lived. China will no longer build their wealth on the strength of the US. Stockman is delusional
yep, pulling the tick off of ones arm is uncomfortable, but one is better off without it.
Here is what David Stockman is all about: Gewwishh Mafia..
In case you’re implying his religious affiliation Stockman is a Christian. If you’re implying alliances that could be another issue. His thesis here is right out of the Globalist playbook.
Stockman’s “Reaganomics” TRIPLED the US national debt… to the advantage of nobody except (((banksters))) and their accomplices.
With a 20 trillion dollar GDP $5 billion spent on The Wall that will diminish illegal alien entry along with their associated drain on the economy both directly and through offspring is money well spent, a return on capital invested.
US GDP grew by 3.5% and debt by 10% and reached 105% of GDP, so which of you is poorer than Venezuela which stole the USA 10 billion dollars or you with a debt of 76 thousand dollars for each person. Therefore, instead of in order to develop trade, to make a dependence on the dollar, we are doing everything to refuse to settle in dollars.
Deep down commies all wish they wuz part of the jet set crowd.
House fire 23 July, 2016
So no one knows to operate a garden hose….Yep better to wait for those trained in water dispensing skills. Looks beyond my pay scale.
its cool, insurance will buy me new stuff anyway, to hell with my neighbors premiums. He’s one of the %1 anyway so he owes it to me.
Ok Stockman how many illegals are you personally caring for and housing?
He can’t be intellectually honest on that one. So we don’t have Americans that need jobs. We should just let everyone in because we need some low skilled labor and forced to pay for millions of illegals who don’t work. This scumbag is what’s wrong with the country.
Unless he personally cares for illegals himself he’s nothing more then a fucking hypocrite!
Good article at “American Thinker” on the coming Civil War 2, also concerned about the India/Pakistan dust up. Will the Nukes fly?
Trump a “Mad Man”? , Sticks and Stones…….
I’m sure we’ll be getting the Russian Troll opinion on this asap.
and why not? We just got the longwinded opinion of someone selling a book for their personal profit. Sad to hear you feel any dissenting opining would immediately be categorized as “russian troll”. Lots of us have been here before Trump or even Obama ever came into office and looooong before anyone decided to slander dissent as russian disinfo. so please, save it.
NEC -Wrangler, oh please-please-please forgive for having an opinion other than yours!
How do you say, “Watch out fur dem hogs” in Russian/Chinese/Cuban?
Actually you didnt state your opinion (or anything meaningful) at all, you simply dumped a line stating any dissenting opinion, fact, theory or even discussion of this guys book sales pitch would be “russian trolls”.
I dont know any Russian or Chinese, and theirs no such language as “Cuban”. Maybe google translate can help you
If memory serves, HRC left the leaky server pretty out in the open, before saying a cyber attack is tantamount to hot war.
most analysists worth their salt will tell you we have been at war with China for a few decades.
Alot of tourist sites, theme restaurants, and apartments in the US, were old production facilities, where the same equipment would still work.
The houses, normally reserved for elitists, were subletted, and the land divided into lots with barely enough room for a driveway.
I think, we’re a bunch of iconoclasts, actually at war with ourselves.
it IS possible to be both.
The extreme polarization of the USA began with the Clintons. And it persists and is exacerbated to this day. By comparison, the Republicans who complained about Obama were a miniscule amount as RINOs benefited and the news media except for Fox News, were just echo chambers.
Of course a civil war will eventually happen. Nobody trusts anyone different than themselves. And no only that, but all signs point to the End Times because globalization is a predicted element of that and it is now possible to have both an animated Beast and the mark of the Beast due to advances in technology.
The things predicted in the Bible like the Gospel being preached in all the world have happened. Everyone being able to instantly know news is alluded to in the Bible. The EU and the massive corruption of the Vatican are predicted in the Bible. End Time weather changes and events seen in the sky have come to pass. Earthquakes are at an all time high. The Great Apostasy has largely come to pass as now more Christians are being persecuted than ever in the postmodern era.
Social credit and RFID chips might certainly be the Mark of the Beast economic system.
All we are waiting for is a conquering Antichrist to reveal himself in actual wars.
Cable tv footage of the Gulf War was brought into classes, when I was going to school, eventually leading people to become cagey and war weary, imo.
Gen X’ers drew alot of comparisons with the Vietnam era.
For some of us, everyday was Halloween, and I think the weirdness we’re seeing now is an outgrowth of my generation, more than the 70’s and 80’s.
Beau and Mara, you both strike me as thinking individuals and would appreciate Bezmenov’s interview from 1984. Its summarized and paraphrased here: ht tps://www.blackopspartners.com/34-years-ago-a-kgb-defector-chillingly-predicted-modern-america/
Give it a read.
(and For what its worth, BOP is a good, impartial, and analytical source for my industry. Flemming did a fantastic conference last year on the Chinese, cybersecurity, and how we have been at war for quite awhile, despite what the general public is told are told. )
Yeah that is a classic interview and he foreshadowed what the US would turn into due to useful idiots. You can watch the full interview online.
It’s long but just about the most useful details about how the KGB (NKVD) used to think in the early eighties.
They have subverted university students, unions, feminists, civil rights, homosexuals, the US State Department, and likely the Swamp of the Senior Executive Service.
Demoralization and acculturation reminded me of “Roots” and the “Making of a Slave” speech, attributed to Lynch.
Even liberal rags have admitted that POTUS has turned around the debacle of the Obama years. One unemloyment figure after another shows marked improvement in even the worst problematic areas of minority unemployment.
The American economy is largely an illusion based upon optimism and confidence in the POTUS. It’s not about fundamentals but trusting in the leadership. And even with everything the Democrats can muster with “resistence” by the fake news media, Hollyweird, the poisonous music industry, Soros, etc…still Trump has a higher approval rating and people are back to work
What is the goal? If you are aiming to empower the Democrats by bad mouthing the president, then I have to ask why? No matter what Democrat gets in there, it will be ruinous to the economy and will embolden our enemies.
Do you want socialism or marxism? Because if the Democrats get in, that will happen and the Republic willbe lost.
Do you want gun control, unchecker immigration,free trade, illegal aliens, and infanticide? If so, then keep complaining about Trump. Every fence sitter will then flip to the Democrats.
Well said Brother-in-Christ, I’m convinced that the ” Beast” will triumph for awhile, until He returns.
The Antichrist will probably reign for three and a half years, and then the Abomination of Desolation will begin, then the Rapture (harpazo).
This manmade doctrine of the Pre-Tribulation Rapture has been encouraging Christians NOT to prepare when in Matthew 25, Jesus says to prepare.
In Matthew 24, it even says…after the Tribulation…yet they ignore this.
There is an exhaustively researched Biblically accurate chart at this link, showing the timeline of events that must occur based on Bible verses and passages.
There is no manmade doctrine in it. Most people have never studied the Bible, and one could read every pertinent verse about how it unfolds merely by looking at the chart.
When the 1st Seal happens, the Antichrist will be revealed as a conquering hero in wars. Then later he institutes this economic system where without the Mark of the Beast, one cannot buy or sell.
This means from that 1st Seal, there are 3.5 years worth of supplies you need, and hidden, as Christians will not be able to buy or sell…at least not legally.
A whole lot of Dispensationalists are betting on a rebuilding of the Temple, yet when this was tried in history in 363 AD, a major earthquake and fire destroyed those efforts.
We don’t know for certain what the “hagia” ie the “holy place” where this Abomination of Desolation takes place.
The MOST HOLY place in the world is in Jerusalem at the Church of the Holy Sepulchre where Jesus rose from the dead.
Read what happened when Julian the Apostate tried to rebuild the Temple in 363 AD.
It should remind every Christian of GOD’s wrath when unauthorized fire was kindled.
An image is supposed to be installed on the wing of the temple.
I favor Dispensations.
While peace has been attempted, many times, a new plan is to be presented after Israeli elections.
While Christians do not typically set dates, some Jews are saying their awaited messiah appears before their elections and is anointed on March 21st.
Again, Christians are not supposed to set dates, readers. Just for general interest.
Wow, this is a great graphic, Mara. Thank you! It really puts a complex and sometimes confusing series of events in perspective.
3.5 years of supplies. Tall order, but understandable.
You are welcome. I’ve been studying this topic for YEARS. As far as I know, it’s the absolute best graphic that clearly shows the events that are in the Bible and not speculation based on manmade doctrines.
I am not a zionist nor a dispensationalist. I understand a lot of people have been ensnared by that, but there is zero Biblical basis for the dogma of Darby.
Jesus said after the Tribulation of those days, then the Rapture.
The disciples taught that.
The early church fathers taught that.
There was no such thing as a pre-tribulation rapture until the 18th century and few believed it.
My concern is the vast majority of strict fundamentalist Bible believing Christians are not preparing when so much effort is in the Bible to prepare and for 3.5 years. But you have to study the Bible to clearly see it.
That graphic makes this easy to understand. By reading the Bible thoroughly and glancing at this graphic, it is CRYSTAL CLEAR.
I have spent some of my formative years with a relative, who was shot-at, for stealing an apple, during a famine. So, I think to plant an appleseed.
“This manmade doctrine of the Pre-Tribulation Rapture has been encouraging Christians NOT to prepare when in Matthew 25, Jesus says to prepare.”
Even the most tacky, plastic, used car salesman kind-of preachers, who have gone to jail for embezzlement, say there is a period of social and natural upheaval.
PreTribbers are usually catastrophists. Dispensationists believe in a period, before the Rapture, which is called the Birth Pangs.
When selling their wares, they are telling us that most people will be left behind, and you are also providing for them.
he believes that the American workforce is shrinking and unskilled and illegal immigrants are necessary workers.
Do you use the same numbers Trump uses to bolster the lie (I remember Trump disparaging the very same faked numbers when he was running, er, being sElected as POTUS for Israel).
A Drumpfter would rather die than admit they admire a hit man.
He is using the EXACT SAME NUMBERS Obama was using! Even if he used TRUE numbers, the picture would still be very much better than in the Obama years. So shut up! Just because you are so eaten up with hate is no reason to throw the country and YOUR freedom away!
Impeach Trump before he completely destroys the economy.
It’s our only hope.
It’s the Federal Reserve’s economy.
They were running the show before Trump was born.
The parties, alternate, in shifts, fulfilling plans of the globalists, as though it’s a completely separate agenda.
Stockman, a self appointed expert. “War on consumers” by standing up to a world that the last 5 presidents have allowed hideous advantages against us. Another expert who has never had a real job or built anything productive. Raegan made some other horrible appointments. O’Connor and Kennedy to the Supreme court just to name a few. “Stock market to fall by 50%”. I am not an “expert” like him but I know, and anybody that cannot see, the stock market is another Vegas casino and is over valued by 80% is delusional. This country is in need a massive reset and it is coming.
I am so sick of former officials/swamp critters slandering President Trump. They are committing treason in my opinion. Quote Q “Those who scream the loudest are the most guilty” Catch up with me on YouTube. Editorial page:
This site has really gone downhill.
“This site has really gone downhill”
That’s because the site has lost its identity catering to POLITICS
Every person who actually knows ancestral skills could submit an article on:
Common ailments of milk goats
Nobody is stopping you and I bet some of you know very valuable skills. I would much prefer to read that kind of article. The problem is there are an abundance of these articles since the 1970s.
I offered to write an essay on building a generic ground mount solar system and I received no replies. I suspect that unless you host a web site, Mac probably doesn’t have the time to review what shows up as submissions on this site. We also don’t want to be inundated with articles selling “snake oil” solutions, that is what ads are for. Probably some legal stuff he has to deal with also.
As an example I could discuss why I selected the Inverter that I did, but it would appear to be an Ad for the item, when in reality, my focus is the ability to repair the inverter anywhere in the world, on site, by replacing individual components.
I don’t think we’ll have to go back to pre-Renaissance technology if SHTF. I don’t think it will be “Mad Max Thunderdome” either.
Besides if Mac were interested he’d make a request for submissions.
rellik, you are correct about articles on what the site used to be about.
The site owner doesn’t care one bit about your or my story submitted.
You will not get an answer no matter how many times you contact him.
In fact, if I recall (not going to bother to check again) the “Submissions” feature has been eliminated.
It’s one reason I rarely come here anymore.
Another is the return of a reincarnation of “passinginthe wind”, trying to turn the site into a religious class, him being the Teacher.
I like the site for the articles and the good folks that post
I am not happy with whomever is the monitor that deletes post for no reason???
Tell me again what Stockton has done or accomplished
If I remember correctly, David Stockman was the one who called Ronald Reagan’s economic policies VOODOO economics and was given the boot for that. I’d have to agree that America will never be made great again. Everyone just keep stacking and praying.
I find it questionable that Reagan was an actor.
Here is plank 5 of Kark Marx’ Communist manifesto, fwiw —
‘Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.’
Reaganomics was also called trickle-down economics. For credits to come from the World Bank or Fed, then, too big-to-fails, then, protected classes, then, the free market, is not voodoo.
Perestroika and insane stock analysts are voodoo, because any speculator with an intuitive understanding of this system could conceivably set their clocks to the next transfusion.
The wall was not built. The ‘peace maker’ continued perpetual wars, dropped more bombs. The White House is crawling with Swamp Creatures. Instead of erasing the national debt Trump increased it $3 trillion.
Silly me, what does an old man know. Yea, MAGA. Bombs away.
David Stockman is a typical clueless Washington Swamp dweller. I agree with him on one point however…the Swamp will never be drained.
Unless, that is, we get rid of the progressive/ globalist raw sewage continually oozing into politics thanks to our education (read, indoctrination) system.
Swamps have many resources.
Man with skills will not just survive, but thrive.
Please Don’t drain the swamp.
Gators gotta have a home. Poor gators.
Politician sell out antiAmerican RATS gotta have a home too.
Where they gonna go if you drain DC swamp?
They might even have to get a job?
Gators gotta eat. Wonder if gators eat Politician sell out anti American rats? Does anyone know?
Then gators swamp wouldn’t be drained.
Save the gators.
this man is an idiot. results speak for themselves. how much BETTER is this country now than a few years ago? much better in every category. How much worse would it have been if Hillary won? Immeasurably worse!
Clinton did not create the 1990s jobs boom. The tech inventors and tech investors should get that credit. Clinton just happened to be in office during a “boom time” of massive technological advances.
The www, the internet and browsers were in their infancy during the mid-late 80s. By the 90s, while simultaneously tweaking these new technologies, they were ready to be rolled out to the public. Thanks Baby-Boomers!
During the late-90s (when university degreed GenXers entered the technology workforce), and throughout the 2000s the already developed and established technology was upgraded, enhanced, perfected and miniaturized.
Clinton just happened to be president at the right time, yet he took credit when he had nothing to do with the booming economy. Technologists from the 80s and 90s are owed that credit.
As a result there were more jobs than there were workers to fill them. Many jobs went unfilled. Everyone was employed. But it had nothing to do with Clinton and his strategies or leadership. Clinton was just there at the right time.
Same for Trump.
I didn’t vote for Obama, and think he’s right up there with the Top Ten Worst Presidents. But his last year in office Obama got the momentum going in terms of job creation and the economy, and passed the baton to Trump. Trump just kept the momentum going instead of driving us into a ditch. So I have to give Trump credit for not driving the economy into a ditch. But I am not crediting Trump for the best economy ever.
Just as I will never credit Clinton, I will not credit Trump either.
Like Clinton, now Trump too is taking credit where credit is not due. He has also made some terrible choices that have had a very negative impact on many hardworking Americans. The fact that I have not personally been impacted is beside the point because my fellow Americans have been. And Trump did drain the swamp, I’ll give him that, but then filled the swamp with more snakes.
A good leader is also a good judge of character. Trump does not impress me in either of these areas. And he idolizes and admires two of the most evil psychopaths on the planet, commie dictators, Putin and Jong-Un. He is not trying to schmooze with them for negotiation purposes. He actually admires these evil monsters and commies.
All of these huge red flags make me want to stop and think, whose side is he really on?
Trump is also not going to overturn Roe v. Wade as promised, or build the border wall as promised where it’s a satisfactory wall, not half-a**ed and where we (the taxpayers) don’t end up footing the bill, nor is he going to MAGA.
350 million Americans able to buy our Farmers Harvest and The Infamous THEY still say its not enough .Produce ,harvest sell in America,and Canada and Mexico and that will be enough .
Read what this guy has written in the past.
You judge the worth of his advice and opinion.
Good maybe things will change?? we can hope!
As far as the “border war,” Stockman referred to, he believes that American citizens tend to vote conservative and unskilled and illegal immigrants are necessary voters to the socialist Democrats.
There, fixed that for you.
Illegal immigrants can’t vote, dummy. There, fixed that for you.
It seems like every other article on here is some doom and gloom economic apocalypse story. Most on here seem to grasp its pretty much out of our control, and their phony fiat currency will be good for nothing but toilet paper when SHTF and it all implodes.On a positive note, we had almost 40″ of snow in central Arizona last week. I was snowed in for four days ! Dug the quad out after the third day.My van was buried almost to the door handles ! Haven’t seen a snow storm like that in a long, long time.
Hilarious cartoon. Well, I guess it’d be funny if it weren’t so true.
The work force is shrinking? Because the American welfare class knows how to not work and have the tax payers support them. The welfare state is the biggest threat to the republic.
Illegal immigrants can’t vote, dummy. There, fixed that for you.