Courtesy of Mish.
Dave Stockman, Ronald Reagan’s former budget director told Fox News the “Media Destroyed Trump” and “This Election is Over”
Is that the case?
Stockman: “This election is over. Trump made a game defense of himself, enough to keep him in the race, but it is going to descend deeper into the gutter from here, than ever before in American history. And the people of America are going to be disgusted. And they’re not going to come out and vote. And a lot of them now feel free to vote their conscience and their conviction for the third party candidate. So Hillary will have no mandate. And I think that’s good. Because she stands for everything that’s wrecking this country. We’re gonna now have a crisis; there will be a market crash; there will be a recession. She will be a 45 percent politically-crippled mandate-less president, and we are going to finally show the American people that this fantasy that both parties have been projecting has to end. … I do not think she won the debate. I think the media destroyed Donald Trump as a candidate.”
General Agreement
There is very little I disagree with, until the final sentence.
It’s pretty clear the election is over, but that was clear after the first debate.
I would not go so far as to say the markets will “crash”, but that depends on the definition. I actually suspect more like a 40-50% decline over seven to ten years with nothing much worse than a 15-20% decline.
No year may look like a “crash” but the end result for pension plans will be worse.
