David Stockman - Conversations with Casey

http://bit.ly/RecoveryRealityCheck For the complete audio set from the conference, available in CD and mp3 format.

At the latest Casey Research Conference, "Recovery Reality Check" in Weston, Florida, Casey Research's Chief Technology Investment Strategist Alex Daley sits down with David Stockman, former Director of the Office of Management and Budget under President Ronald Reagan.

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  News & Politics

[sawtooth bygeorge]

Amen!

[NoName NoFame]

because with zero interest rates, the government policy discourages savings as much as possible and encourage getting into debt

they employ this policy since the govenrment is the biggest debtors ever, and everything is done for the convenience of the government, not of the american people.

[NoName NoFame]

we have to buy less junk, not more - in the long run when we save and invest in viable economies that will grow we are much better off - than if we just run around like a chicken without a head and simply spend spend spend on consumer goods - which is what the government is trying to force people to do - short term it gives a spike to the GDP but longterm this profligacy makes the economy poorer since nothing is left to invest and people accumulate debts for junkk

[NoName NoFame]

since welfare system was expanded the poor got poorer

this government " war on poverty" created more poor people just like " war on drugs" created more drug addicts - during the prohibition more people were drinking and yet governments MUST try to legislate morality!

getting the government out of the " charity" and " morality" racket will make the country much more prosperous and safe (this drug war makes lots of drug lords super powerful and rich)

[sawtooth bygeorge]

Is anybody saving? If so, not too many.

[theredscourge]

On the contrary. When savings are accumulated, they are generally invested in profitable businesses which grow, and which hire more people. Most of the spending that people do is on goods that are not produced locally anyway, so if they are investing in American companies, that is more capital staying in the country creating jobs in the country.

[jayseah32]

At 1:36 David says we're not asking the consumer to save more and buy less.... Well, what happens when less is bought? The demand falls and so do the needs for workers. Consequently, unemployment goes up, purchasing power AND savings fall,

and another cycle begins.

pipeman451 has it exactly correct.

[pipeman451]

Yes Dave people that haven't seen real wages grow since 1966 by 69 dollars must save more right. The savings from productivity has all gone to the top 1% which is sitting in off shore accounts to the toon of 32 trillion dollars. Be honest the wealthy don't pay enough taxes and th 32 in trillion off shore proves this. No jobs no wages and the wealthy stashing their money off shore. The workers bailing out the oligarchs for their criminal behavior. It's a joke.

[pretorious700]

boo fucking hoo, the Soviets killed about 60 million, Mao's maniacs 30 million, and all you ever hear is the shrill whining of jews. get the fuck over it.

[pretorious700]

spam