David Stockman: This Is a Giant Ponzi Scheme, It’s Just Debt on Top of More Debt

From the Heartland Institute:

David Stockman, who served as President Ronald Reagan’s first budget director, has written something either very right or very wrong, based on the scorn he has been receiving from people on both the political Left and Right.

Either way, it’s great listening as he joins Fox Business Network host Neil Cavuto to discuss his newest book, “The Great Deformation,” which chews up and spits out nearly every economic sacred cow that believers in welfare and warfare statism continue to feed. Among other things, he declares if the Federal Reserve were to “go fishing” for six weeks and stop its bond buying during that time, “there would be calamity in the markets.” It was his way of arguing government fiscal and monetary policies have manipulated and distorted the economy in ways that can end only badly.