Leading Fed critic, former Reagan Administration Budget Director and author of the best selling book The Great Deformation: The Corruption of Capitalism in America, David Stockman tells Lindsay Williams that we have seen this act before. Stocks are in the third bubble this century. He says that the Twitter IPO rings the bell for the next bust which will be caused by the Fed’s policies of doubling down on past mistakes. He says that Janet Yellen is living in a time warp as she inherits Bernanke’s disaster. He also gives a fascinating perspective on the historical precedents for today’s economic policy failures. Click here to listen or use the player below.
Lindsay Williams hosts mid day and evening programs for CNBC Africa and a nightly program on South Africa’s Fine Business Radio. Jim Rickards called Lindsay one of the top 5 economic journalists in the world outside of the US.
Radio Free Wall Street is a proprietary, subscription based service of The Wall Street Examiner, with occasional free podcasts available to non-subscribers. Listen to a free 5 minute clip from the October 29 podcast. Lee Adler tells Russ Winter why those who deny that QE causes rising stock prices are wrong. Click here to listen. For more free podcasts, see the home page listings.
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