As we wrote last month, Trump warned that stocks were in a ‘big bubble’ while he was on the campaign trail. But since the election, he and his admin have foolishly asserted they deserve credit for the price rally since November. When the inevitable bear market part of this cycle arrives, we can look for them to quickly distance themselves from declines, citing factors beyond their control: all standard salesman playbook stuff. BS baffles masses.
Former top federal budget official David Stockman has a stark warning for investors: There’s going to be a disaster in Washington and you’re not going to see it coming.