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Originally posted by babybunnies
David Stockman was economic advisor under President Reagan.
On Fareed Zakaria GPS this morning on CNN, Stockman said "people need to buy ANYTHING that Ben Bernanke cannot destroy. I would highly recommend buying Gold, bottled water, and canned goods".
He also said that ending the Bush tax cuts for the rich is "madness in the current economy" and that the Fed is under attack from all corners of the globe. One of his last points is that the Fed is printing "about $100 billion a month" in order for the Government just to pay their own bills, and it's getting to the point where this is unsustainable without massive inflation.
Before all you right wingers start bleating, remember, this guy was economic advisor to President REAGAN.