David Stockman: stocks are heading for 40--70% plunge

[tsptalk]

David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge

Scary prediction, but this is the same guy who said stocks would fall 25% if Trump won the election.

He's made similar calls, but they haven't materialized. In June, Stockman told CNBC the S&P 500 could easily fall to 1,600, which at the time represented a 34 percent drop. This week, the index was trading at record levels above 2,500.

Stockman puts a big portion of the blame on the Federal Reserve, and its ultra-loose monetary policy.

"This is a bubble created by the Fed," he said.

https://www.cnbc.com/2017/09/29/dav...ipe-dream-stocks-to-plunge-40-70-percent.html