Stockman: Coronavirus Will Crash Stock Market, ‘The Jig Is Up’

EXCERPT:

STOCKMAN: “Yeah. I think this is a dead cat bounce. The jig is up. You know, we’ve had a fake recovery for ten years fueled by massive increases in debt. We didn’t learn any lessons in 2008. In fact, the debt total, public and private, then was $43 trillion, it’s now $75 trillion. We’re up 45 %. That's what's fueled the recovery. The Fed has been out to lunch crazy with easy money and, you know, the massive expansion of its balance sheet, modernization of the debt — “
CAVUTO: "But of course, we've climbed through periods of escalating debt long before the financial crisis and post, right?
STOCKMAN: "Yeah. But what — here’s the issue though, it leaves the economy exceedingly fragile. There is no shock absorbers in this economy.”