David Stockman says that this is the greatest suckers’ rally of all time.
“This 5 percent eruption is meaningless. It’s some robo machine trying to tag new highs.” David Stockman dismissed the S&P 500 rally.
“I see a recession coming down the pike in 2017. The stock market is going to go down and it’s going to stay down long and hard because. The reason is that this is the first time in 25 years when there’s nothing to bail it out.”
Stockman was director of the Office of Management and Budget under President Ronald Reagan. He reaffirmed his earlier call that markets are heading for disaster.
“My call stands. Sell the stocks, sell the bonds, get out of the casino.”