David Stockman
David Stockman is the former Director of the Office of Management and Budget under President Ronald Reagan. After leaving the White House, Stockman had a 20-year career on Wall Street.
David Stockman Professional Experience / Academic History
Professional Experience
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Director of the Office of Management and Budget under President Ronald Reagan
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Michicagn Congressman
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Special Assistant to U.S. Representative, John Anderson of Illinois
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Executive Director of the U.S. House of Representatives Republican Conference
Academic History
Term
Term
David Stockman is the ultimate Washington insider turned iconoclast. He began his career in Washington as a young man and quickly rose through the ranks of the Republican Party to become the Director of the Office of Management and Budget under President Ronald Reagan. After leaving the White House, Stockman had a 20-year career on Wall Street.
Stockman Strong Beliefs
- Modern Central Banks turned capital markets into a casino and are the enemy of prosperity
- The US trade deficit is caused by "Bad Money", not "Bad trade Deals"
- real problem is fed inflation & inflation targeting
- continuous inflation made nominal us wages too high to compete globally
- if the fed had not targeted 2% inflation and let natural inflation/deflation cycles take over, american workers would be far more competitive internationally
- Large trade deficits caused by cheap foreign labor and energy would have generated their own correction - the large US current account deficits would have caused an outflow of gold,which, in turn, would have caused domestic interest rates to rise, domestic credit to shrink and prices, wages and costs to deflate (Thus rebalancing the trade defecit)
Stockman Short Resume
- 20 years in Washington
- 20 years on Wall Street
- 10 years as a Newsletter writer
- Voted for Donald Trump - thought he was a "great disruptor" & wanted radical change
- Doesn't think he'll be able to remake America, but thinks he will disrupt