As posted to the David Stockman YouTube Channel on 10/22/18 David Stockman appears on Fox Business Network's "Varney & Co." to discuss the impact of the Federal Reserve's decision to drain $600B out of the bond market and, in turn, the economy.  Stockman explains that the Fed will accomplish this by allowing their balance sheet, which reached $4.5T, to shrink by not reinvesting when Treasury Bonds mature . . . which is the same thing as selling bonds.  Stockman goes on to say that adding $600B of debt to the $1.2T budget deficit that we already have for this year, means that $1.8T of debt is looking for a home in the bond market.  It will find a home, but not at 3.2% yield on the 10...

As posted to the David Stockman YouTube Channel on 9/15/18 (David Stockman starts at time marker 0:47) David Stockman is interviewed at the 2018 Sprott Natural Resource Symposium to discuss the great $20 Trillion elephant in the room which he explains is the Balance Sheets of all of the Central Banks of the world "in excess of what it probably should be in a rational, stable, historically prudent world". 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" and, most recently, "Trumped!...