David Stockman arrived with the Reagan administration and as director of the Office of Management and Budget came up with the plan to cut taxes, reduce spending, shrink government and set off the greatest economic expansion of the latter half of the 20th century.
With inflation at 50-year highs, Stockman offers his latest advice in "The Great Money Bubble: Protect Yourself From the Coming Inflation Storm."
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Available Tuesday from Humanix Books, "The Great Money Bubble" offers strategies to not only protect one's hard-earned savings and investments, but how to grow them during this time of inflation and economic crisis. His four-step strategy shows how to protect savings and one's portfolio.
Stockman says inflation has always been about more than bothersome high prices. It's a symptom of a terrible disease infecting our economic and political system. Worse symptoms will soon appear.
Inflation showers windfalls on the rich, Stockman says, while it penalizes workers, savers, retirees, small businesses, and most of Main Street economic life.
Stockman reveals insights on
- Why the rising price of assets is far more dangerous than rising consumer prices.
- The inside story on stock market manipulations and the effects of ultracheap debt.
- Not all stocks are evil or bad during inflation — gems are findable.
- Shrinkflation: how companies hide rising prices from consumers.
- Why real estate is no longer a guaranteed inflationary hedge — homeowners beware!
As budget director, Stockman was one of the key architects of the Reagan Revolution. In 1985, he went to Wall Street as a private equity investor at Salomon Brothers, the Blackstone Group, and founded his own firm.
"Under today's policy regime, in fact, inflation is global, virulent, and ubiquitous," Stockman writes in "The Great Money Bubble." "That's because it's the toxic spawn of unhinged central bankers who have flooded the financial system with trillions of fiat credits snatched from thin digital air in a manner that contradicts and defies every textbook written before 1995."
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