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David Stockman Rages Market “Valuation Has Lost Any Anchor To The Real World”

Posted By admin On December 10, 2013 @ 6:33 am In Money Watch | Comments Disabled

Zero Hedge [1]
December 10, 2013

The current malaise of news, data, and spin is “meaningless,” David Stockman tells Bloomberg’s Tom Keene, adding that markets are exhibiting “the kind of speculative froth you get at the top of a cycle where valuation loses any anchor in the real world; from earnings or the prospects of the economy.” As he argued before [2], “owning stocks here is very dangerous,” and despite Keene’s best efforts to denigrate Stockman’s “of course it’s a bubble,” perspective; the former inside-man exposes the hard mathematical truths of valuations, performance, and reality in this brief clip. Who is to blame – The Fed or Wall Street? ”It is a question of who has taken whom hostage,” Stockman concludes ominously, “it’s a co-dependency… it’s very dangerous.”

“Wall street demands that the Fed keeps dishing out the liquidity, keeps dishing out the monetary heroin…

They have a hissy fit if the chairman of the Fed even suggested they might begin to taper four years into a recovery.

So – it’s a codependency.

It’s a very dangerous thing. “

Interview below:


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URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2013-12-09/david-stockman-rages-market-valuation-has-lost-any-anchor-real-world

[2] he argued before: http://www.zerohedge.com/news/2013-11-27/david-stockman-fears-panic-when-lunatic-fed-loses-control

[3] David Stockman: Ben Bernanke Is The Most Dangerous Man In US History: http://www.prisonplanet.com/david-stockman-ben-bernanke-is-the-most-dangerous-man-in-us-history.html

[4] Must Watch: David Stockman Says The Fed Is Injecting High Grade Monetary Heroin Into The Financial System: http://www.prisonplanet.com/must-watch-david-stockman-says-the-fed-is-injecting-high-grade-monetary-heroin-into-the-financial-system.html

[5] The Real Crisis: “People Have Lost Trust In The Government And The Market”: http://www.prisonplanet.com/the-real-crisis-people-have-lost-trust-in-the-government-and-the-market.html

[6] David Stockman: “Both Parties And The White House Are Advocating A US Default”: http://www.prisonplanet.com/david-stockman-both-parties-and-the-white-house-are-advocating-a-us-default.html

[7] Stockman Warns of Crash Of Fed-Fueled Bubble Economy: http://www.prisonplanet.com/stockman-warns-of-crash-of-fed-fueled-bubble-economy.html

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