David Stockman warns investors to ‘get out of the casino,’ says stocks set for a 40-70% plunge

David Stockman is warning about the Trump administration’s tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off.

Stockman, the Reagan administration’s director of the Office of Management and Budget, isn’t stepping away from his thesis that the 8½-year-old rally is in serious danger.

“There is a correction every seven to eight years, and they tend to be anywhere from 40 to 70 percent,” Stockman said recently on CNBC’s “Futures Now.” “If you have to work for a living, get out of the casino because it’s a dangerous place.”

Source: David Stockman warns investors to ‘get out of the casino,’ says stocks set for a 40-70% plunge

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