Stockman on the Dow Reaching All-Time Highs: It’s a ‘Wild, Gambling Casino That’s Been Totally Destroyed on the Central Banks’

RUSH EXCERPT:

VARNEY: "Okay. Well, the numbers which we see and which everybody else in the world sees is gdp is growing at a 3% annual rate. We have a UBS analyst who is saying if we get these tax cuts, we will grow the stock market, the Russell 2000, by 8%. This morning the I Dow industrials, as of now, are up 180 points, 23,452. All of them are totally wrong, and David Stockman is right.

STOCKMAN: "Yes --" 

VARNEY: "To push gold and sell stocks."

STOCKMAN: "Exactly." 

VARNEY: "I don't get it, David, I really don't."

STOCKMAN: "Okay. In the last crash, UBS lost $60 billion. Their opinion is not worth the paper that it's printed on. This is just more sell-side stock peddling -- "

VARNEY: "Okay, when does the crash start?"

STOCKMAN: "You know --" 

VARNEY: "Can you tell me?"

STOCKMAN: "I don't know --" 

VARNEY: "What's the point of all of this?"

STOCKMAN: "You can't interrupt because I don't know when the NASDAQ crashed in April 2000, but it surely did. I don't know when the goldilocks economy that you were talking about in the fall of 2007 is going to crash, but there was a meltdown of historic proportions. So you either think this is an honest market, this is a stock market, this is capitalism, or you think it's a wild gambling casino that has been totally corrupted."