Live from Peet's Coffee: Grifters gotta grift!
That's not David "Nobody Understands These Numbers" Stockman, Director of OMB for Ronald Reagan. That's the announcer. What Stockman says is things like:
People don't want to hear the warning. People don't want to hear the truth in the Establishment, in Wall Street, and in Washington. But I think that out in the country people must.... Wall Street is addicted to cheap money and the unlimited flow of new liquidity into the markets.... I think there will be a revolt sooner or later of the American public against this disastrous crushing of the saver in order to essentially accommodate Wall Street's appetite for liquidity....
The Fed... is a rogue institution. It's operating beyond any of the legislative intent or statutory authority that has been given to them over the years. They have essentially become a national monetary planning agency that have decided they can drive the daily, weekly, monthly movement of the economy by manipulating interest rates and the yield curve.... That is fundamentally at variance with the requisites of a healthy capitalist economy. You need an honest financial market, not a manipulated one.... It's a centrally-planned economy...
And, of course, the hurrah: Announcer: "And, more important for you, we will discuss the safe money strategies you can implement to safeguard your wealth in these calamitous times..."
