David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge - Hallo friendsNOT SOME IMPORTANT INFORMATION, In the article you read this time with the title David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, We have prepared this article for you to read and retrieve information therein. Hopefully the contents of postings Article capital markets, Article economy, Article health, Article News, Article politics, Article sports, We write this you can understand. Alright, good read.

Title : David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge
link : David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge

David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge

David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off.

Stockman, the Reagan administration's director of the Office of Management and Budget, isn't stepping away from his thesis that the 8½-year-old rally is in serious danger.

"There is a correction every seven to eight years, and they tend to be anywhere from 40 to 70 percent," Stockman said recently on CNBC's "Futures Now." "If you have to work for a living, get out of the casino because it's a dangerous place."

He's made similar calls, but they haven't materialized. In June, Stockman told CNBC the S&P 500 could easily fall to 1,600, which at the time represented a 34 percent drop. This week, the index was trading at record levels above 2,500.

Stockman puts a big portion of the blame on the Federal Reserve, and its ultra-loose monetary policy.

"This is a bubble created by the Fed," he said. "We're heading for higher yields. We are heading for a huge reset of pricing in the risk markets that's been based on ultra-cheap yields that the central banks of the world created that are now going to go away because they're telling you that they're done." READ MORE

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