Business Headlines

Posted: Thursday, February 26th, 2015

David Stockman: Hold Cash and Gold

  Former White House budget director David Stockman told Associated Press that the economy is going to experience another bubble, and investors should hold on to cash and gold.  Stockman explained that the U.S. economy is super-saturated with debt, and the creation of fiat money is making matters worse.  When asked about the stock market, Stockman responded, "I wouldn't touch the stock market with a 100-foot pole."  Stockman argues that investors should hold tight for the coming bubble burst by owning cash and gold.  "Capital preservation is what your first, second, and third priority ought to be in a system that is so jerry-built, so fragile, so exposed to major breakdown," said Stockman.

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