State-Wrecked: The Corruption of Capitalism in America was a nice lunch read today. Written by David Stockman, former congressman and Reagan's budget director from 1981 to 1985, the article (in my opinion) accurately sums up the negative global economic viewpoints.
The Malthusian warnings range from socioeconomic inequality in America to unsustainable debt/deficits that will cause this latest bubble to "explode," but the flaws in his argument make me far more comfortable owning US stocks. I now go line by line:
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