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Stockman: "Ron Paul Is Right: The Fed, And The Lunatics That Run It, Are The Heart Of The Problem"

Former Reagan OMB Director David Stockman was 'allowed' on CNBC this morning - much to their chagrin now we suspect - and espoused his own brand of truthiness, starting with this epic tirade:

"Ron Paul is the only one who is right about the Fed, and the Fed is the heart of the problem. They have destroyed the capital markets and the money markets; interest rates mean nothing; everything is trading off the Fed and Wall Street isn't even home - as it's now a bunch of computers trading word-clouds emitted by this central banker and that"


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David Stockman is one of my favorite economic commentators. As a former Reagan official, he has a certain credibility which the establishment cannot deny the same way it does other Austrian economists.

His speech on the bursting of the real-estate bubble and ramifications of the TARP bailout is probably one of the best accounts of what happened from an Austrian perspective.


"Yesterday we obeyed kings and bent our necks before emperors, but today we kneel only to truth." - Kahlil Gibran

Was anyone else able to pick

Was anyone else able to pick out his Freudian slip during this interview?

Only the acceptance of the truth can defeat systemic evil.


He said a few strange things, like raise taxes on everyone, and saying it wouldn't matter if the disaster was caused by a meteor strike.

What was it?

Around the 2:20 mark, he

Around the 2:20 mark, he mentions 'Morgan Stanley' being bailed out.

Now, we know that ALL the banks got bailed out, but I don't remember Morgan Stanley being the center of attention these last few years...not yet at least...

But maybe I'm wrong.

I just know there's been a lot of chatter lately about MS.

Only the acceptance of the truth can defeat systemic evil.

You're right, Morgan Stanley has been singled out lately

Maybe it's because people are learning they are particularly bad? Or maybe Goldman Sachs is going in for the kill? One by one picking off competitors.


But in terms of Dr. Paul's campaign, a day late and a dollar short-for CNBC and the Libertarian Movement.

Thank's for nothing, Joey Boy.

Got to wonder why Joey Boy is having such a great time...guess because the pressure's off...Paul's out of the race.

No reflection, much, on Stockman....but Joey is a friggin' Bono, Preibus without the drugs- if you catch my drift.

"If you want something you've never had before, you have to do something you've never done before." Debra Medina

Speaking of Brocolli

He sure did force CNBC to eat their broccoli.

Ron Paul's END THE FED should

Ron Paul's END THE FED should be required reading. So many are still ignorant when it comes to the fed. Shortly after the Federal Reserve was created the national debt was $2,5 billion. That is Billion with a b and not $16 trillion with a T as it is today. What did Wilson later say. I have betrayed my country.Why is Ben Bernanke on the Board of governors of the IMF and Timothy Geithner an alternate? why does the U.S. taxpayers provide 30% of the funds taken in by the IMF?

Bob Marshall

"Recommended" reading, not "required".

I don't believe in the initiation of force.


Ann in Florida


If I was dictator, I would demand that all people be educated and free :-)

"What if the American people learn the truth" - Ron Paul

Amazing how simply genius he is on public policy

I'm sure I could disagree with him on something but wow he's so spot on with what he said.

Government is supposed to protect our freedom, our property, our privacy, not invade it. Ron Paul 2007

Thanks for the post.

Much to my shock a very neo-con relative posted on fb about the fed and the partial audit figures - saying "we are screwed people". I was shocked. Then a friend posted a link about the devaluing of the dollar...shocked again. The friend never posts anything political in any way so I was realy surprised. The neo-con is msm junkie and loves any and all things Romeny-Ryan, but they are on to something and that is how it starts.

The Jim Rodgers video is also

The Jim Rodgers video is also good...


That was hilarious

Had to watch it twice.

Another clip from the same day: http://video.cnbc.com/gallery/?video=3000114920

Good find, thanks

These doses of televised truth-telling are refreshing.

lindalsalisbury's picture

Great Post

Thank you

Fixed that for you....

"Ron Paul Is Right: The Fed, And The CRIMINALS That Run It, Are The Heart Of The Problem".

They know full well what they are doing. We need to call a spade, a spade and stop letting criminals run everything just because they wear nice suites and fake smiles.

I always say

It's not the freak with the long hair, tattoos and pierced face that you should be afraid of - that guy is real - what you see if what you get.

It's the guy in the 3-piece suit that appears perfect.

we already knew they'd do this.

see subject...

I use Blue Wave, but don't expect one of THEIR silly taglines.

egapele's picture

Loved the comments in that article

although some were a little on the vulgar side for me.

The points made in the article and in its comments section would never have been expressed had it not been for one single, solitary politician.

Bashing the Fed is officially mainstream!


Now that it is safe to do so he comes out in favour of Ron Paul. Where was he during the primaries?

At least Nassim Taleb was very supportive and supported Dr. Paul unequivocally when it was dangerous to do so. That was a great interview with the Black Swan author. No ifs ands and buts just the real deal.

"Jesus answered them: 'Truly, truly, I say to you, everyone who commits sin is a slave to sin. The slave does not remain in the house forever; the son remains forever. So if the Son sets you free, you will be free indeed.'" (John 8:34-36)

Quantitative Easing.

What a slick phrase for creating money out of thin air! My gripe is "Who gets the money?" Goldman Sachs? Who? Unbelievable that Americans don't demand answers and shut down this sordid affair. They call Ron Paul a kook for asking. If you create a trillion dollars, you could give every citizen about $3,333.

alan laney