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David Stockman warns of ‘disaster waiting to happen’ on Wall Street

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Former OMB Director David Stockman is warning that the bottom is on the verge of dropping out for stocks in Wall Street. While the business sector seems to be pleased lately, the most recent reports may signify that President Ronald Reagan’s former adviser’s warning may be true.

Is an economic collapse on its way very soon? It’s always hard to predict, but if anyone can, Stockman may be the right person to issue the warning. Then again, this isn’t the first time he’s warned of a financial apocalypse.

According to CNBC:

Stockman, whose past claims have yet to come to fruition, still believesthat the excessive monetary policy from central banks around the world has created a “debt supernova,” and all the signs point to “the end of the central bank enabled bubble,” which could cause a worldwide recession.

Read more on CNBC.

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