David Stockman: Brace for “Mother of all Bubbles.”

Former Director of the Office of Budget and Management David Stockman had harsh words for the markets and investors in an interview on FOX News earlier today. He dished out his view on Fed Policy, how it has distorted the markets and mindsets of investors, and on what he foresees as the explosive POP of a massive bubble.

According to Stockman, There’s no one in the stock market today except drugged up day-traders and robots… This is utterly irrational… we’re in the fourth bubble inflated by the Fed in this century… but now we have the greatest, mother of all bubbles.”

David Stockman hints at the guiltiness of the Federal Reserve as he goes on to ask, How could someone in their right mind believe that you can have interest rates… at zero for nine years?… That is the greatest gift to the speculators, to the 1%, to the leveraged traders, to the carry trade ever imagined!”

Stockman finishes with a dire warning: “We’re almost on the edge of another explosion at the present time.”

You can watch the interview for yourself here.

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