Get ready to take a flamethrower to the official narrative and learn what the elites don't want you to know.

You're listening to the Tom Woods Show.

Hey everybody, Tom Woods here. It is episode 2689 of the Tom Wood Show. The last episode of the Tom Wood Show until I finally get a haircut. I'm completely, I mean, we've got David Stockman looking very well put together, quite unlike your host here. You all know David, former director of the Office of Management and Budget under Ronald Reagan, U.S. Congressman before that,

lengthy and distinguished private sector career after that, and now he doesn't need to do anything.

He can just be retired and spend his days playing golf or on the beach.

But he is trying to save the American Republic in his spare time, more than his spare time. This is his

more or less full-time living over at David Stockman's contraCorner.com, which I highly recommend

you check out. And I want to talk about some material that he's been producing over there,

having to do with a lot of the issues that are facing us right now. One has to do with war and peace, and the other has to do with the Fed and the economy. So you're ready to get going, David? All set, and I've got my haircut already taken care of it. So, yeah, you're looking terrific. I know. I'll buy that maybe the budget already. Yeah, thank you.

Anyway, yeah, I mean, big things are happening by the day here, so this couldn't be more timely to address these topics.

Well, let me start with this.

Oh, I don't know if it was a week or two ago, Jerome Powell, Fed Chairman, uttered the words

that a lot of people in the stock market wanted to hear.

And it's just so bizarre this world we live in that people are sitting there waiting to hear a particular turn of phrase in a speech from one man.

And on that basis, they're going to make investment decisions at this point i've watched

investor behavior enough that i think half of them are just petulant children honestly i don't know who

these people are but anyway this was the sentence in fact i wrote an email to my list that day saying

the sentence everybody heard today.

And here was the sentence buried in the speech.

With policy in restrictive territory, the baseline outlook and the shifting balance of risks

may warrant adjusting our policy stance.

Now, if you're not an observer of this stuff, you would have no idea how profoundly

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