Ep. 5228 – David Stockman on Coronavirus Hysteria and the US Economy – 4/10/2020

David Stockman pulls back the curtain on congress’ recent multi-trillion dollar bailout package, which, although billed as emergency aid for individuals actually allocates most of the money to various special interests on both sides of the aisle, including millions for the Smithsonian, the Kennedy Center, Public Broadcasting and the Department of Education. Beyond the bailout, Stockman says this shutdown of almost the entire economy is a disastrous overreaction, given what he thinks is a hugely overblown level of danger from the virus itself. In New York State, the mortality rate is 70 times higher among the elderly and infirm, and poses very little risk of death or hospitalization to young people in good health. He advocates isolating the elderly but letting most people go back to work before it’s too late to save the economy at all.

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. He is the author of Trumped!, The Triumph of Politics, and his history of the financial crisis, The Great Deformation: The Corruption of Capitalism in America.

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