“For capitalism to work, you have to have effectively functioning, solid capital markets. And in order to do that, you need savings—real savings, not money printed by a central bank, but real savings from businesses and households,” says David Stockman, who served as budget director for President Ronald Reagan.
“Back then, the ...
David Stockman: Debt Default, the ‘Doomsday Budget Machine,’ and Failed Fiscal Restraint Explained
David Stockman: Debt Default, the ‘Doomsday Budget Machine,’ and Failed Fiscal Restraint Explained
Jun-06-2023
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