Jackie DeAngelis, CNBC, Released on 5/12/16
“There is a huge chance that the world economy is not recovering…but flipping into a deep and lasting deflationary recession. You can see that happening in China.”
David Stockman is a former Republican congressman from Michigan and was President Reagan’s budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman’s Contra Corner, and he is the author, most recently, of The Great Deformation: The Corruption of Capitalism in America.