by Craig Wilson
David Stockman said on Bloomberg yesterday, “Flyover America is hurting, and hurting badly because of the negative impact of Fed policies.”
Stockman, is a former two-term Congressman from Michigan. He was also the Director of the Office of Management and Budget under President Ronald Reagan. After leaving the White House, he had a 20-year career on Wall Street.
“Zero percent interest rates for 93 months is a retirement hit of enormous magnitude. Massive monetary stimulus and bond buying has basically turned the stock market into a casino and the C suites of America, the executives… into a stock pumping operation.”
David Stockman discusses what is happening in the U.S. economy, how he expects the presidential candidates could take on the economy and his new book TRUMPED!