David Stockman in a special edition of Conversations with Great Minds. Stockman is a Republican, he is a former United States congressman – representing the state of Michigan – who was elected to three terms before stepping down to head up the Office of Management and Budget under President Ronald Reagan in 1981. He is credited with writing the Reagan Budget – and continued his work on federal budgeting through 1985. After leaving politics, David Stockman pursued a career in investment banking and joined Blackstone Group as one of its earliest partners. He is the author of the book, “Triumph of Politics: How the Reagan Revolution Failed” and his new book – tentatively titled “The Triumph of Crony Capitalism” – will explore how crony capitalism reached a peak during the recent financial meltdown. David talks to Thom about why Reagan would be raising taxes right now, the Republican party has gone crazy and why we need to get control of the Fed and robots trading on Wall Street. Also how the Federal Reserve and the Secretary of the Treasury have both become the handmaidens of Wall Street: “It is not valid capitalism when you have huge financial firms make big mistakes and get bailed out.”
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David Stockman makes a lot of sense….today….he obviouly has a very short term memory. Wan’t he the mastermind behind the trickle down, supply side economics know as Reaganomics. Ronnie Reagan was a puppet just like the rest ….it was easy for him under the direction of Stockman and Greenspan….get rid of Volker who did his job….killed inflation by raising interest rates to ridiculous levels causing stagflation for years while commodities soared. In comes Ronnie guns a blazing….drop taxes….drop interest rates….drop govt. regulations….the markets rocketed. duh!!
He also became the first of the bailout crowd ….billions made by insiders in the Saving and Loans scam…..sound familiar.
So now he gets religion…..when the poor and middle class are flat on their backs tax the living crap out of them and take way their govt. entitlements while corporate America pays little or NO taxes at all…..that should really fix things.
The Millenials may not be so passive as the Boomers who have lived off the fat of the boom that he in part was responsible for.
Let’s start referring to the Millenials as the Minimals if the OWS is any indication. These people have been robbed of their educations and force fed slogans instead of being nurtured in the development of critical thinking abilities.
Charles Gasparino on OWS.
http://www.nypost.com/p/news/opinion/opedcolumnists/new_york_marxist_epicenter_gVrMJIKezP82E3Gkki2IvO?utm_campaign=OutbrainA&utm_source=OutbrainArticlepages&obref=obinsource