Perhaps the most interesting opinions these days about things economic and political come from David Stockman, the former Republican congressman from Michigan and head of the Office of Management and Budget (OMB) under President Reagan.
In part, Stockman is the most interesting because he is also the most vitriolic, no mean accomplishment since he competes, in that category, with such as Paul Krugman. Consider, for instance, the following, all but the last example from just this February:
Regarding a member of the Federal Reserve’s Board of Governors: “Have you ever heard of Lael Brainard? … In the name of a crude Keynesian economic model that is an insult to even the slow-witted, Brainard and her ilk are conducting a rogue regime of financial repression, manipulation, and unspeakable injustice that will destroy both political democracy and capitalist prosperity as we have known it.”
On central bankers: “There has been an economic coup d’etat in America and most of the world. We are now ruled by about 200 central bankers, monetary apparatchiks and their minions on Wall Street and other financial centers.”
On Federal Reserve Chair Janet Yellen: “This stupendously naïve old schoolmarm still believes the received Keynesian scriptures as penned by the 1960s-era apostles James (Tobin), John (Galbraith), Paul (Samuelson) and Walter (Heller).” >> Read More
The opinions expressed above are those of the writer and not of The Media Institute, its Board, contributors, or advisory councils. The full version of this article appeared in The Hill on March 7, 2016.