David Stockman: No More DEBT!

“Stimulus only adds more DEBT and none of it is helping poor people or people on the edge.”

“The bond market is totally manipulated by the Fed and it is saying the country is broke.  All it reflects now is people speculating on the Fed.”

“Some day the real two traders are going to wake up…”

“We’ve gone through a 30 year bubble period that is now coming home to roost.  It was created by the massive leverage built up by the 1980s.”

“There has been a $32 TRILLION net gain in the top 5%; they had $8 Trillion of net worth in 1985 and now they have $40 TRILLION….and I blame the Fed for turning our financial system into a massive speculative bubble built on debt leverage.”