Ep. 593 - Former Wall Street Investment Manager Details Dismal Economic Landscape - David Stockman

Inflation has risen exponentially over the past several years - but is it a sudden occurrence, or is it the result of years of government mismanagement? David Stockman is an experienced equity investor, author, congressman, and member of the Reagan White House who is very knowledgeable about inflation and its effects. He discusses why inflation has been “lurking below the surface for a long time” and how the Federal Reserve is the most powerful entity in the nation, with the power to control the economy and, therefore, the world. He also breaks down what the “inflection point” of former Federal Reserve Chairman Alan Greenspan’s approach to assuaging an economic meltdown during his time in office.

TAKEAWAYS

You can’t have money growing at nine times the rate at which the economy is growing

Biden is simply the final stage of the symptom of rampant inflation that is rooted in the Federal Reserve

The job of the central banking system was originally to keep the value of money constant, steady, and stable

You do not need inflation to maintain prosperity in the American economy

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