Tags: Trump Administration | Democrats 2016 | Donald Trump | GOP2016 | Hillary Clinton | david stockman | hillary clinton

David Stockman: Hillary Will Win, but Economic 'Calamity' to Greet Her Presidency

By    |   Monday, 24 October 2016 11:07 PM


Former Reagan economic adviser David Stockman says Hillary Clinton very well could win the White House, but any celebration she and her supporters have will be short-lived when the economy comes crashing down all around her.


“It's going to be a calamity, and there's total radio silence in this campaign about it,” he told Fox Business Network (beginning at the 1:10 mark of the video above).

He said Donald Trump “is wrong when he says he can grow his way out of it. I agree with a lot of the things he is proposing, but you're not going to grow your way out of it. You have to reform entitlements," he said.

"You can't keep adding to defense, and we need a better revenue source than the taxes we have today,” said the former director of the Office of Management and Budget under President Ronald Reagan.

Clinton “has no solution at all, just more of the same. And frankly, she's going to win, the race is over,”said the author of "Trumped! A Nation on the Brink of Ruin."

“But in a way there's a silver lining, because things are going to blow up in the next four years, there will be a stock market crash, there will be a recession, the annual deficit will be back in the plus trillion dollar category very soon and it will all come down on her head and on the watch of the establishment,” he said.

“And maybe that will wake up the public, because it's going to be bad. And what Trump proved in this campaign is that the establishment, you know, will do anything politically to stop a challenge. But if we have the crisis that I know is coming, then maybe this thing can be busted wide open and we have a chance to clear the decks and start again,” he said.

“I think we're in fiscal fantasy land and I believe we're being subjected to a massive con job about how serious this problem is," explained the Newsmax Finance Insider.


“The national debt was $10.6 trillion when Obama was sworn in, it will be $20 trillion when the next president takes office. That means in the last eight years, we have added to the national debt as much as during the first 220 years of the republic. During the first 43 presidents,” he said.
 

“There will be a recession one of these days. We're not going to go another 10 years without one,” he said.
 

Stockman isn't alone in his dire predictions of market chaos after the election. But other financial gurus think Trump winning the White House would cause a stock-market collapse.

Billionaire investor Mark Cuban says he has his "Trump hedge on."  In a recent interview on Fox Business Network anchor Neil Cavuto's show "Coast to Coast," the "Sharktank" reality TV personality warned: "In the event Donald wins, I have no doubt in my mind the market tanks."

 

But not all gurus are as pessimistic as Cuban and Stockman. 

Wells Capital Management's Jim Paulsen predicts that the stock market will literally end the year with a bang as it charges into 2017. "I think we're going to maybe find out we are finally turning northward on earnings momentum," Paulsen, Wells’ chief investment strategist, told CNBC. 

(Newsmax wire services contributed to this report).

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Former Reagan economic advisor David Stockman says Hillary Clinton very well could win the White House, but any celebration she and her supporters have will be short-lived when the economy comes crashing down all around her.
david stockman, hillary clinton, donald trump, eocnomic calamity
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2016-07-24
Monday, 24 October 2016 11:07 PM
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