David Stockman's Call------The Gong Show Starts Wednesday

From MarketWatch

The call

David Stockman, a former budget director for the Reagan administration, is at it again. He has been a steady bear in the face of this resilient market, and now he’s got a specific date for what he sees as the beginning of the end for this bubble: December 16, when the Fed chair takes the mic. “Yellen and her posse better pray for a monetary Tonto because they are riding headlong into an ambush in the canyons of Wall Street,” Stockman wrote. “To wit, they cannot possibly raise money market interest rates — even by 75 bps — without massively draining liquidity from the casino.” Read more on why he says the “Gong Show” begins Wednesday and will have dire ramifications for stocks.


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