David Stockman right for now

David Stockman right for now

fiction
edward w pritchard


No one can really predict the future. It's a humbling experience eventually to try to predict the future. So much better to see realistically how things are now and then in the future adjust behavior to what actions really calls for.

We are in one of those stormy stock market periods where the seers of the future back fit their previous writings to sound the alarm.

Things are not as good or bad as it seems. In the stock market everyone hates volatile down markets and smiles and sings when volatility drives the market higher and prosperity blankets the land.

Here's what I wrote about David Stockman- seer of the future

David Stockman and John the Baptist

fiction
edward w pritchard

a polemic, with no attempt to write a balanced article by this author

start;

Listen, who knows the time of Day?

David Stockman is confused, he has misjudged some of the pertinent facts, but he knows that something earth shaking will effect America. David Stockman the former Reagan administration Budget director expects apocalypse for the American economy. David Stockman has a messianic burning desire to tell everyone what is coming to America's way of life but he doesn't exactly know the details of what he feels will happen very soon.

David Stockman wrote two books. The first book " The triumph of politics,.. etc" was an indictment of the Reagan Administration's economic policies. About that time in the 1980's Stockman said of his tenure as Budget director, " none of us really understand what is going on with all these numbers. " Stockman was referring to trickle down and/or supply side economics initiated in the Reagan administration which began the exponential growth in the budget deficit caused by decreased taxes [ lower tax rates according to supply side theory, and/or trickle down economics will increase productive investment by the wealthy and magically increase taxes,{ sic sometimes}] and increased government spending [ which will trickle down and help the poor].

A career in business on Wall Street after leaving politics followed for Stockman. Jumping into the belly of the economic beast in America Stockman worked at Solomon Brothers [naturally] and at his own hedge fund in Greenwich Conn [where else]. His record was checkered as an investment guru. Like most theorist big picture economic geniuses " free markets" gave him no quarter. In 2007 the Securities and Exchange commission alleged fraud against Stockman and firm for perpetrating fraud against stockholders of a Detroit based auto parts supplier that went bankrupt, but in 2010 the US attorney decided not to pursue prosecution further because a settlement was planned by the parties involved.

Stockman's latest book is "The Great Deformation; the Corruption of Capitalism in America". The book is a timely and important book but has many errors in it. Promoting the book, Stockman has written in the New York Times and toured America lecturing and has been accused by most of ranting and being perpetually cranky. The message is that we have been fiscally irresponsible, deficits will swamp America soon and America is now morally, fiscally and ethically bankrupt.

John the Baptist the biblical profit preached that the Messiah would come soon to Judge the Romans and the corrupt Jewish administration strangling the Jewish people. John was beheaded by King Herod.

David Stockman was a congressman from Michigan in the 1970's and once studied divinity at Harvard in Graduate school.

John the Baptist baptized sinners with water and told them they could be forgiven of their sins by one who would Baptize in blood.

David Stockman knows not what or who is coming forth to Judge fiscally irresponsible morally bankrupt America. David Stockman studied divinity at Harvard.

Listen, who knows the time of Day?

David Stockman is confused, he has mis-judged some of the pertinent facts, but he knows that something earth shaking will effect America. David Stockman the former Reagan administration Budget director expects apocalypse for the American economy. David Stockman has a messianic burning desire to tell everyone what is coming to America's way of life but he doesn't exactly know the details of what he feels will happen very soon.

Listen, Who knows the time of day?