David Stockman, former Reagan budget director and bestselling author of “The Great Deformation,” published an op-ed on Newsmax Finance and made a dire warning: the end of the third bubble of this century will come to an end on Dec. 16.
Why is Dec. 16 so important? Well, that is when the Federal Open Market Committee (FOMC) will decide whether or not to raise interest rates for the first time in close to a decade. This is the most anticipated meeting in years, and many economists project the Federal Reserve will impose a rate hike of 25 basis points.
Stockman states, however, that it’s too little too late.
“Can the third great bubble of this century survive a Fed that finally wants to get off the zero bound after its way too late, but can’t do it anyway without a massive crash inducing cash drain from Wall Street? And in the teeth of the next recession to boot?
“Yes, the end of the bubble does begin on December 16th.”
As Zero Hedge wrote earlier this month, Dec. 16 will live on in “monetary infamy.”
Editor’s Note: be sure to check Economic Collapse News on Wednesday for all of the latest.
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