The term "Doom Loop" describes a vicious cycle, where an attempted solution makes a situation worse by not addressing the root of the problem. In finance, this refers to the boom-bust-bailout structure that leads to economic crises.
Many believe this begins with risky investments and dangerous financial practices to increase profitability and growth, that soon bust - bringing the financial sector to its knees after an inevitable collapse.
And at the very heart of the Doom Loop is Wall Street’s complete confidence in a bailout, no matter how many laws they break or money they siphon from hard-working Americans. This gives them every incentive to take unbelievably high risks and leveraged bets.
What does all of this have to do with the latest Omnibus bill Trump just signed into law… and the Deep State’s plot to crash the economy?
David Stockman takes you inside the White House and up Wall Street, to show you what the Deep State really has in store for you, and how you can prepare for all the possible outcomes, in his exclusive new report, The Doom Loop: How The Deep State Will Bankrupt America.
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David Stockman is the ultimate Washington insider turned iconoclast. He began his career in Washington as a young man and quickly rose through the ranks of the Republican Party to become the Director of the Office of Management and Budget under President Ronald Reagan. After leaving the White House, Stockman had a 20-year career on Wall Street.
At the podium, Stockman’s expertise and experience cannot be matched, and he has a reputation for zesty financial straight talk. Defying right- and left-wing boxes, his latest book, Trumped!: A Nation on the Brink of Ruin and How to Bring it Back, catalogues both the corrupters and defenders of sound money, fiscal rectitude, and free markets. Stockman discusses the forces that have left the public sector teetering on the edge of political dysfunction and fiscal collapse and have caused America’s financial system to morph into an unstable, bubble-prone gambling arena that undermines capitalist prosperity and showers speculators with vast windfall gains.
Stockman’s career in Washington began in 1970, when he served as a special assistant to U.S. Representative, John Anderson of Illinois. From 1972 to 1975, he was executive director of the U.S. House of Representatives Republican Conference. Stockman was elected as a Michigan Congressman in 1976 and held the position until his resignation in January 1981.
He then became Director of the Office of Management and Budget under President Ronald Reagan, serving from 1981 until August 1985. Stockman was the youngest cabinet member in the 20th century.
Although only in his early 30s, Stockman became well known to the public during this time concerning the role of the federal government in American society.
After resigning from his position as Director of the OMB, Stockman wrote a best-selling book, The Triumph of Politics: Why the Reagan Revolution Failed (1986). The book was Stockman’s frontline report of the miscalculations, manipulations and political intrigues that led to the failure of the Reagan Revolution. A major publishing event and New York Times bestseller in its day, The Triumph of Politics is still startlingly relevant to the conduct of Washington politics today.
After leaving government, Stockman joined Wall Street investment bank Salomon Bros. He later became one of the original partners at New York-based private equity firm, The Blackstone Group. Stockman left Blackstone in 1999 to start his own private equity fund based in Greenwich, Connecticut.
In his newest New York Times best-seller, The Great Deformation: The Corruption of Capitalism in America (2013), Stockman lays out how the U.S. has devolved from a free market economy into one fatally deformed by Washington’s endless fiscal largesse, K-street lobbies and Fed sponsored bailouts and printing press money.
Stockman was born in Ft. Hood, Texas. He received his B.A. from Michigan State University and pursued graduate studies at Harvard Divinity School.
He lives in Aspen, Colorado, with his wife Jennifer Blei Stockman. They have two daughters, Rachel and Victoria.