U.S. Economy is a House of Cards Built on Unsustainable Debt

As posted to the David Stockman YouTube Channel on 11/12/19

David Stockman appears on RT’s “The News with David Sanchez” to discuss the recent decision by the Fed to add money to the financial system through the repo markets. Also discussed is the fact that we are at the top of the longest business cycle in history (month 130 of month 125) and in the last four months, the Treasury has borrowed $800 billion.

(This is Blog Post #654)

David Stockman is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan and as the Director of the Office of Management and Budget under President Ronald Reagan. He is the author of a number of books including “The Great Deformation: The Corruption of Capitalism in America”, “Trumped! A Nation on the Brink of Ruin . . . and How to Bring it Back” and, most recently, “Peak Trump: The Undrainable Swamp and the Fantasy of MAGA”. His current content can be found at davidstockmanscontracorner.com,

About the Author: Roger Rossmeisl, CPA

Roger Rossmeisl, CPA, brings over 40 years of experience helping small business owners who have outgrown their current CPA firm and larger companies seeking responsive, cost-effective solutions they’re not receiving from their current CPA Firm. He goes beyond tax compliance, explaining the “why” behind the numbers and their impact on cash flow and other decision making. An avid follower of federal monetary policy, Roger adds insight into how government actions affect business and wealth. With a niche in franchised new vehicle dealerships, he has served over 100 franchise stores and groups through decades of evolving IRS rules and legislation.

Categories: General