David Stockman famous quotes

03-26-2025

Bernanke has cultivated this idea that he is a brilliant scholar of The Great Depression, but thatâ€™s not true at all.
-- David Stockman

#Ideas #Brilliant #Great Depression
In short, Mr. Ryanâ€™s plan is devoid of credible math or hard policy choices. And it couldnâ€™t pass even if Republicans were to take the presidency and both houses of Congress. Mr. Romney and Mr. Ryan have no plan to take on Wall Street, the Fed, the military-industrial complex, social insurance or the nationâ€™s fiscal calamity and no plan to revive capitalist prosperity â€” just empty sermons.
-- David Stockman

#Wall #Military #Math
In 1985, the top five percent of the households - the wealthiest five percent - had net worth of $8 trillion - which is a lot. Today, after serial bubble after serial bubble, the top five per cent have net worth of $40 trillion. The top five percent have gained more wealth than the whole human race had created prior to 1980.
-- David Stockman

#Race #Today #Wealth
Insanity has infected all the central banks of the world.
-- David Stockman

#Insanity #World
It's kind of hard to sell 'trickle down,' so the supply-side formula was the only way to get a tax policy that was really 'trickle down.' Supply-side is 'trickle-down' theory.
-- David Stockman

#Way #Sides #Kind
If there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing.
-- David Stockman

#Cutting #Republican #Politician
I don't think that Mitt Romney can legitimately say that he learned anything about how to create jobs in the LBO (leveraged buyout) business. The LBO business is about how to strip cash out of old, long-in-the-tooth companies and how to make short-term profits. All the jobs that he talks about came from Staples. That was a very early venture stage deal. That, you know they got out of long before it got to its current size.
-- David Stockman

#Jobs #Thinking #Long
A veritable incubator of short cuts, schemes and devices to overcome the truth.
-- David Stockman

#Cutting #Hair #Overcoming
Then, when the Fed's fire hoses started spraying an elephant soup of liquidity injections in every direction and its balance sheet grew by $1.3 trillion in just thirteen weeks compared to $850 billion during its first ninety-four years, I became convinced that the Fed was flying by the seat of its pants, making it up as it went along. It was evident that its aim was to stop the hissy fit on Wall Street and that the thread of a Great Depression 2.0 was just a cover story for a panicked spree of money printing that exceeded any other episode in recorded human history.
-- David Stockman

#Wall #Fire #Years
The Ryan plan isn't a budget. It's the last will and testament of the Republican party.
-- David Stockman

#Party #Lasts #Republican
I'm just not going to spend a lot of political capital solving some other guy's problem in 2010.
-- David Stockman

#Guy #Political #Other Guys
The Republican Party, as much as it pains me to say this, should be ashamed of themselves.
-- David Stockman

#Pain #Party #Republican
Kemp-Roth was always a Trojan horse to bring down the top rate.
-- David Stockman

#Horse #Trojans #Trojan Horse
The United States is broke â€” fiscally, morally, intellectually â€” and the Fed has incited a global currency war (Japan just signed up, the Brazilians and Chinese are angry, and the German-dominated euro zone is crumbling) that will soon overwhelm it. When the latest bubble pops, there will be nothing to stop the collapse. If this sounds like advice to get out of the markets and hide out in cash, it is.
-- David Stockman

#War #Japan #Advice
I invest in anything that Bernanke can't destroy including Gold, canned beans, bottled water and flashlight batteries....
-- David Stockman

#Water #Gold #Batteries

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