"You'd Be A Fool To Hold Anything But Cash Now"

Interesting interview with David Stockman the other day.  The Ex-White House budget director expresses some extremely strong feelings about the direction this country is headed in the upcoming months.  Considering his prediction of an event of epic proportions, wouldn’t you rather be on the right side of the trade than out of the market entirely..?

Now 65 and gray, but still wearing his trademark owlish glasses, Stockman took time from writing his book about the financial collapse, “The Triumph of Crony Capitalism,” to talk to The Associated Press at his book-lined home in Greenwich, Conn:

Q: You sound as if we’re facing a financial crisis like the one that followed the collapse of Lehman Brothers in 2008.

A: Oh, far worse than Lehman. When the real margin call in the great beyond arrives, the carnage will be unimaginable.

Q: How do investors protect themselves? What about the stock market?

A: I wouldn’t touch the stock market with a 100-foot pole. It’s a dangerous place. It’s not safe for men, women or children.

Q: Do you own any shares?

A: No.

The entirety of the interview can be found here:  DAVID STOCKMAN: Youd Be A Fool To Hold Anything But Cash Now.