David Stockman the former budget director under President Reagan is sounding the alarm.
In an interview with Fox Business news Stockman urged Americans to get out of the stock market.
He pointed out to several reasons why the market holds immense risk right now.
- The massive printing of money by the Federal Reserve
- Stocks are more overvalued than previous market cycles
- Financial market history points to a cyclical drop near 40%
It’s not IF, but when. It only takes a spark to ignite a massive sell off. The last crash is still fresh in the minds of Americans who got caught.
Stockman called the market crash in March 2000, November 2007 and now he is sounding the alarm. “This time is not different, this time is worse” says Stockman.
Today is telling everyone with money on Wall Street to put everything into cash. He says the market is massively overvalued.
David Stockman is the author of the book Trumped.