David Stockman – Debt Markets Unstable and Tottering

David Stockman, former White House Budget Director, paints a grim picture of what is coming in the global financial markets. Stockman contends, “What happens when the financial breakdown comes is there is a great margin call. Everybody says ‘I want my money back and I’ll take your collateral if I don’t get it back. If I do take your collateral, I will sell it for whatever price I can get and cut my losses.’ So, this is truly a house of cards.

 

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