06/11/18

"No One Has Outlawed Recessions" Stockman Sees S&P Fair Value "Way Below 2000"



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"No One Has Outlawed Recessions" Stockman Sees S&P Fair Value "Way Below 2000"
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"If you're a rational investor, you need only two words in your vocabulary: Trump and sell," says David Stockman, former President Reagan's Office of Management and Budget director, warning that a 40% stock market plunge is closing in on Wall Street.

While not the first time Stockman has warned of a catastrophe waiting to happen in markets, he told CNBC's Futures Now that, after the worst monthly loss for global stocks since the financial crisis, that the early rumblings of that epic downturn are . We're within a year or two of one,"  adding that:

"fair value of the S&P going into the next recession is well below 2000, 1500 - way below where we are today."

According to Stockman, Trump's efforts to get the Fed to stop hiking rates from historical lows is ....

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