by Stephanie Landsman
Stockman, who served as President Reagan's Office of Management and Budget director, has long warned of a deep downturn that would shake Wall Street's most bullish investors.
"No one has outlawed recessions. We're within a year or two of one," he said Thursday on CNBC's "Futures Now."
He added that: "fair value of the S&P going into the next recession is well below 2000, 1500 — way below where we are today."
"If you're a rational investor, you need only two words in your vocabulary:[ Trump and sell".
"The trade war is not remotely rational," he said. If the dispute worsens, it "is going to hit the whole goods economy with inflation like you've never seen before because China supplies about 30 percent of the goods in the categories we import."
"We're going to be in a recession, and we're going to have another market correction which will be pretty brutal"
Source: CNBC.com.
https://www.cnbc.com/2018/11/03/david-s ... yptr=yahoo