Former WH budget director warns after March 15th economy will grind to halt

MindWars

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Former WH Budget Director Warns "After March 15th Economy Will Grind To Halt"

I Wonder what kind of BS band aid will be put on this one. As we collapse further into the hole.
Thanks to Obama and Bush they've both sunk us faster than ever. As Trump tries bailing us out of if the Trump haters don't have any idea how he might throw us a rafter so we can start swimming back to shore and rebuild.
But of course they will listen to msm and Hollywood nut jobs telling them something totally different.
 
The stock market is due for a crash. It's enjoying a Trump optimism bump now, but the reality of 8 years of the Hussein will come back.
 
The stock market is due for a crash. It's enjoying a Trump optimism bump now, but the reality of 8 years of the Hussein will come back.
Republicans have a unique opportunity to cut spending and bring that deficit down but they need to do it now. A balanced budget is not out of the question by any means. There's plenty of fat to be cut from Obama's bloated bureaucracy. But the shit out of welfare and food stamps. In a few months there won't be an excuse for any able bodied person for not having a job as factories return to the U.S. There'll be plenty of jobs on the Mexican border and on the pipeline.
 
Anyone else remember when Obama was first elected? Republicans were screaming "its yours now, you own it! Take responsibility!" And lets not forget "Booooooooosh".

Now these dbags want to blame Obama for Trump!

Baaaaahahahahahaaaaaaaaaaa!
 
Hillary is mostly to blame for DJT.

Although when BHO insulted DJT at the noted Correspondents' Dinner he lit a fire in DJT's belly that has flared into a bonfire and is now illuminating the entire world.
 
The current deficit and debt are going to limit what the GOP allows DJT to do in terms of further spending on infrastructure improvement, which is long overdue.

And the current low tax rates pushed down already by Reagan and "W" will limit what DJT can do in terms of lowering taxes. He (DJT) cannot really lower taxes much. They are already quite low. Romney only pays 14% now on his millions of passive income. Same story is true for the rest of the plutocracy in America.

So after DJT does everything he can, the stock market will be forced to start slipping again. Knowing when to get out is going to be the trick as usual.

Buy low, sell high, get in during January, get out by October.
 
Anyone else remember when Obama was first elected? Republicans were screaming "its yours now, you own it! Take responsibility!"
You mean when Obama was calling Bush "unpatriotic" for increasing the national debt by $4 trillion, just before Obama increased it by $10 trillion? Is that what you're referring to?
Obama! Obama! Its all his fault us republicans are so week inept and useless we can't do anything to stop Obama........

Obama isn't president Trump is take some responsibility laggard.
 
I notice Trump supporters aren't mentioning the word 'deficit', just pushing the imaginary jobs the Orange clown is going to deliver.
What with building a wall (what a simplistic joke that is!), increasing military spending (gotta be the BEST!), and giving the mega-business world a handy tax cut...
Anyone want to make a guess at what the debt will look like by Christmas?
 
Are you kidding? David Stockman? He is the perfect example of someone who makes the same wrong predictions over and over, yet people will continue to believe he's some expert who's warnings should be heeded. The sad thing is he'll eventually pull a Peter Schiff and be the broken clock who gets the time right, at which point his adoring fans will grant another free decade pass of being wrong again.


Stockman in March 2012: DAVID STOCKMAN: You'd Be A Fool To Hold Anything But Cash Now
Stockman suggests you'd be a fool to hold anything but cash now, and maybe a few bars of gold.

Stockman in April 2013: http://www.nytimes.com/2013/03/31/opinion/sunday/sundown-in-america.html
this latest Wall Street bubble, inflated by an egregious flood of phony money from the Federal Reserve rather than real economic gains, will explode, too.

Stockman on July 2014: The Implosion Is Near: Signs Of The Bubble’s Last Days
Accordingly, even the big cap "broad" market is trading at 19.6X reported earnings---a level achieved historically only at points when the stock market was on the verge an implosion.

Stockman in March 2015: David Stockman Warns "It's One Of The Scariest Moments In History" | Zero Hedge
It crashed in March 2000, six years. The housing bubble roughly started in 2002. It totally crashed in 2008. Six years. The meltdown on Wall Street bottomed in March 2009. Add six years. 2015. I think we're at the end of this bubble simply based on the fact that they can't expand forever

Stockman on August 2015: Stocks are a 'disaster waiting to happen': Stockman
David Stockman has long warned that the stock market is on the verge of a massive collapse, and the recent price action has him even more convinced than ever that the bottom is about to fall out. "I think it's pretty obvious that the top is in,"

Stockman in November 2015: David Stockman: Expect a Market Meltdown Before the 2016 Election
Reagan White House budget chief David Stockman warns that there will be a stock-market crash just before next year’s presidential election.


Does anyone feel like calculating how much money it would have cost them is they followed his advice in March 2012 and went all cash? DJIA was at about 13k, today it sits at over 20k. At what point do people stop quoting this ass clown like he knows what he's talking about?

A bit.
 
The current deficit and debt are going to limit what the GOP allows DJT to do in terms of further spending on infrastructure improvement, which is long overdue.

And the current low tax rates pushed down already by Reagan and "W" will limit what DJT can do in terms of lowering taxes. He (DJT) cannot really lower taxes much. They are already quite low. Romney only pays 14% now on his millions of passive income. Same story is true for the rest of the plutocracy in America.

So after DJT does everything he can, the stock market will be forced to start slipping again. Knowing when to get out is going to be the trick as usual.

Buy low, sell high, get in during January, get out by October.

And the current low tax rates pushed down already by Reagan and "W" will limit what DJT can do in terms of lowering taxes.

Reagan lowered the top rate to 28%. It's currently 39.6%. He has room to lower rates.
 
I notice Trump supporters aren't mentioning the word 'deficit', just pushing the imaginary jobs the Orange clown is going to deliver.
What with building a wall (what a simplistic joke that is!), increasing military spending (gotta be the BEST!), and giving the mega-business world a handy tax cut...
Anyone want to make a guess at what the debt will look like by Christmas?

What with building a wall (what a simplistic joke that is!),

Simplistic joke....like Hope & Change? DERP!
 
Stockman is a moron, he's wrong on everything....anyone that listened to him in 2015 lost big

David Stockman's Just Wrong, So Buy Stocks

"I think it's pretty obvious the top is in." So said David Stockman yesterday in an appearance on CNBC.

I am now more bullish than ever.

No, seriously, who listens to David Stockman anymore? Stockman, of course, was Ronald Reagan's budget director until he was summarily fired for publically worrying about deficits. (Republicans, you see, are not really concerned with deficits.)

For a long time, Stockman went away and we didn't hear from him. However, about four years ago he turned up again and started hitting all the media outlets, talking about the coming end of the world or, I guess you can say, end of America and its economy.

Stockman has been wrong about everything. He's been wrong about interest rates and wrong about debt and wrong about so-called "money printing" and inflation and market crashes, and just wrong.

David Stockman's Just Wrong, So Buy Stocks
 
View attachment 114414
Former WH Budget Director Warns "After March 15th Economy Will Grind To Halt"

I Wonder what kind of BS band aid will be put on this one. As we collapse further into the hole.
Thanks to Obama and Bush they've both sunk us faster than ever. As Trump tries bailing us out of if the Trump haters don't have any idea how he might throw us a rafter so we can start swimming back to shore and rebuild.
But of course they will listen to msm and Hollywood nut jobs telling them something totally different.



“I think what people are missing is this date, March 15th 2017. That’s the day that this debt ceiling holiday that Obama and Boehner put together right before the last election in October of 2015. That holiday expires. The debt ceiling will freeze in at $20 trillion. It will then be law. It will be a hard stop. The Treasury will have roughly $200 billion in cash. We are burning cash at a $75 billion a month rate. By summer, they will be out of cash. Then we will be in the mother of all debt ceiling crises. Everything will grind to a halt. I think we will have a government shutdown. There will not be Obama Care repeal and replace. There will be no tax cut. There will be no infrastructure stimulus. There will be just one giant fiscal bloodbath over a debt ceiling that has to be increased and no one wants to vote for.”
Stockman: "After March 15 Everything Will Grind To A Halt" | Zero Hedge

AND ON INFORWARS THEIR VERSION OF THIS SAME ARTICLE
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J.C. Penney and Family Christian Stores are the latest retail giants to announce widespread store closings.

As you will see below, J.C. Penney plans to close between 130 and 140 stores, and Family Christian is closing all of their 240 stores. In recent months the stock market has been absolutely soaring, and so most people have simply assumed that the “real economy” must be doing well. But that is not the case at all. In fact, the retail apocalypse that I have been documenting for quite some time appears to be gaining momentum.

Retail Apocalypse Gains Momentum As David Stockman Warns ‘Everything Will Grind To A Halt’ After March 15th
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Anyone else remember when Obama was first elected? Republicans were screaming "its yours now, you own it! Take responsibility!"
You mean when Obama was calling Bush "unpatriotic" for increasing the national debt by $4 trillion, just before Obama increased it by $10 trillion? Is that what you're referring to?
Obama! Obama! Its all his fault us republicans are so week inept and useless we can't do anything to stop Obama........

Obama isn't president Trump is take some responsibility laggard.
Says the guy who blamed Bush for 8 years. Don't like the taste of your own medicine?
 

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