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Stockman: ‘There Are No Markets, Just a Raging Casino’

Mania in financial markets has raged so far out of control as to place them outside the realm of rationality, says former White House budget director David Stockman.
“There are no markets left in any meaningful sense of the word, just a raging casino infected with the madness of the crowds and the central bank pied pipers who mesmerize them.”
“Why everything has gone virtually straight south because the most fantastic credit bubble in recorded history is beginning to burst.”