Jul 28

David Stockman Warns “2008 Was Just Spring-Training For What Comes Next”:

In effect, America has undergone a rolling national LBO since the Gipper’s time in office; so the U.S. economy is now stuck in the ditch because it has leveraged itself to the hilt over the past three decades. The vast majority of Americans are no longer living the dream because Wall Street speculators and Washington politicians alike have led them into a debt-fueled fantasy world that is coming to a dead end.

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