David Stockman: “Get The Hell Out Of The Casino!” (Podcast)
David Stockman: “Get The Hell Out Of The Casino!” Podcast from King World News
As we come to the end of the first week of trading in October, David Stockman, former Director of the Office of Management and Budget under President Reagan, just warned King World News that investors need to “Get the hell out of the casino!”
How Do Investors Navigate The Great Reset?
October 4 (King World News) – Eric King: “David, what do you say to people who are worried, who are concerned that this bubble isn’t going to last forever — that it’s going to unravel and end in tears? What do they do to protect themselves? Do you tell them to buy gold and things like that as safe haven assets for when the storm comes?”
“Get The Hell Out!”
David Stockman: “Yes, absolutely. When you reach the point where you have the craziness that we’ve seen in the IPO market of recent weeks — WeWorks, which is nothing but a big savings & loan equivalent, where all of their liabilities are long term and all of their assets are a couple of weeks in duration, going from a $47 billion valuation down to $10 billion during the pre-marketing period being pulled, and I think the whole thing is unraveling and going to take much of the real estate market in New York, London and elsewhere down with it — that’s the kind of sign that was the bell they rang warning we are near the end of the cycle. Or on the bond market side, $17 trillion of negative yield compared to none in a real, healthy world, and only a couple of trillion a few quarters back. So those are signs that the casino is about ready to implode and the message is, ‘Get the hell out!’ (Laughter).