Sunday, March 31, 2013

David Stockman, Man In The Middle

Here's a typical left-wing response to the financial crisis: 

Within weeks of the Lehman Brothers bankruptcy in September 2008, Washington, with Wall Street’s gun to its head, propped up the remnants of this financial mess in a panic-stricken melee of bailouts and money-printing that is the single most shameful chapter in American financial history. 

And here's a typical right-wing response to Obama administration policies:

The “green energy” component of Mr. Obama’s stimulus was mainly a nearly $1 billion giveaway to crony capitalists, like the venture capitalist John Doerr and the self-proclaimed outer-space visionary Elon Musk, to make new toys for the affluent. 

The interesting thing? These are both opinions of former Reagan budget director David Stockman, in the same article. A good read. Stockman doesn't like much that either party has done in the last few decades, and he ends with a grim caveat:

When the latest bubble pops, there will be nothing to stop the collapse. If this sounds like advice to get out of the markets and hide out in cash, it is. 



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