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“Stockman:  “The greatest danger is the central banks.  All the central banks are out of control.  They have expanded their balance sheets in a way historians someday will properly and soberly describe as lunatic....


Continue reading the David Stockman interview below...




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“...So I think it’s extremely dangerous.  No one has the foggiest idea of what land mines or explosive eruptions are out there.  But it’s all out there and it’s just looking for a catalyst, looking for a match.


The accumulative recognition that the environment is a lot more dangerous than people thought -- it’s not benign, it’s not ‘the crisis of 2008 is over,’ and ‘We’ve crawled along and finally we are nearing escape velocity,’ and all this nonsense you hear from Keynesians like Larry Summers and the economists at the IMF and the World Bank and so forth.


I think what the marketplace of the world is beginning to realize is that the opposite is true -- that we’re not getting stronger, better, and returning to normal, but instead the accumulation of all these anomalies and bubble finance effects are beginning to become apparent to more people.  And as that happens, you get to an environment where some catalyst can set off a real selling panic.”




Stockman added:  “Stay alert, stay out of harm’s way, and don’t believe the constant refrain that ‘this dip is a buying opportunity.’  They have been for several years because the Fed and the central banks have made it so.  But unless you believe that the central banks can just keep printing money forever and expanding their balance sheets at these crazy double- and triple-digit rates, then the answer is that it’s dangerous out there and the best thing to do is draw back, keep liquid, and keep out of the risk asset markets.”


IMPORTANT - This is only a small portion of what Stockman had to say in his extraordinary audio interview.  The KWN audio interview with David Stockman discussing the Ukraine crisis, financial instability, gold, the end game and much more is available now and you can listen to it by CLICKING HERE.   


IMPORTANT - KWN has many more interviews being released today.


David A. Stockman: Former Dir. of the US Office of Management and Budget, Economic Policy Maker, Politician, Financier & Acclaimed Author of New York Times best-seller, “The Great Deformation: The Corruption of Capitalism in America. To order from Amazon CLICK HERE.



© 2014 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The audio interviews with Michael Pento, Gerald Celente, Bill Fleckenstein, Egon von Greyerz, Dr. Paul Craig Roberts, Grant Williams, Andrew Huszar, Art Cashin, Rick Rule, David Stockman, John Mauldin and Dr. Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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