Ep. 497: David Stockman Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 28 October 2016

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is David Stockman, a former United States congressman. His books include, “The Great Deformation”, and “Trumped: A Nation on the Brink of Ruin… And How to Bring it Back”. He is the ultimate Washington insider turned iconoclast. He began his career in Washington as a young man and quickly rose through the ranks of the Republican Party to become the Director of the Office of Management and Budget under President Ronald Reagan. After leaving the White House, Stockman had a 20-year career on Wall Street.

The topics are his books Trumped! A Nation on the Brink of Ruin ... and How to Bring It Back and The Great Deformation: The Corruption of Capitalism in America.

In this episode of Trend Following Radio we discuss:

Glass Steagall
Clinton and Trump campaigns
Donald Trump and Bernie Sanders supporters
Deutsche Bank
European banking system
Sub-zero interest rates
Chinese economy
2016 Election as a turning point in America

Jump in!

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I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can’t get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Transcript

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0:00.0	A big thank you to all of my listeners.
0:03.5	And if you would like to support this transmission even more and boost your trading account,
0:09.6	go to trendfollowing.com slash now.
0:16.5	And without any further delay, on to today's show.
0:30.3	This is Trend Following Radio, where great thinking comes alive.
0:39.9	Nobel Prize winners, legendary traders, best-selling authors, and the pros that know what drive us irrational human beings.
0:46.8	I am your host, Michael Covel, not filtered, raw, honest.
0:48.6	That's my passion.
0:55.2	My guest today is David Stockman.
0:57.6	David is a former United States Congressman.
1:03.4	He also served as the director of the Office of Management and Budget under President Ronald Reagan.
1:05.1	His books include The Great Defamation and his newest trumped a nation on the brink of ruin.
1:13.5	This is David's second appearance on my show and I always love that he gives it straight.
1:19.4	No BS, straight to the heart of the matter, love him or hate him.
1:25.2	It's hard to argue with his logic and his practicality.
1:29.5	I hope you enjoy this conversation with David Stockman.
1:41.4	So David, I saw this interesting point the other day, and I thought it was a good starting
1:47.7	point for us today that will open up a big flower of all kinds of other issues and will get
1:53.6	into your newest work.
1:54.8	But I saw the other day that Larry Summers floated, that the Fed should in the future perhaps start buying common stocks.
2:05.0	When you hear something like this, and I know it's a big answer, but on a small level and a big
2:11.9	level, what starts to go through your head when you hear that?
	...

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