Loading ...I just read Stockman’s story. I can’t buy it. I was very surprised to see so many things wrong with it. So many things left out, not mentioned. Considering he worked for the gov’t, an insider, that might explain why his story is baloney imo. Maybe he just wants to sell books or something.
No mention of the strong dollar policy thru the 1990s. The 2001 dot com peak/bust. The Dow gold ration rotation in 2001. The recession that started in 2000. The 9/11 attack in late 2001 forcing the panic dropping of rates to over ride the 9/11 effect.
Commodities in strong dollar deflation all thru 1980 to 2001. THAT alone HAD to cause many producers to close up. Little George had to put tariffs on imported lumber and steel until the lower dollar got prices higher.
Who is he to talk about Copper? Copper was $1 plus or minus 50 cents, 1971 thru 2004. China was BOOMING after 1990, and copper stayed flat. Low suppressed prices generally cause loss of production and higher later.
That’s it for stockman in my opinion. I can blow a lot more holes in his story.