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Don Larsen and a Perfect Potemkin Economy

Summary:
David Rosenberg hit the nail on the head Friday morning. What we’ve got here, he opined, is a Potemkin Economy—a simulacrum of growth extracted from Uncle Sam’s future debt serfs and a booming explosion of paper wealth emanating from the Fed’s printing presses: Let’s reiterate how much air there is in the economy and the […]

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David Rosenberg hit the nail on the head Friday morning. What we’ve got here, he opined, is a Potemkin Economy—a simulacrum of growth extracted from Uncle Sam’s future debt serfs and a booming explosion of paper wealth emanating from the Fed’s printing presses: Let’s reiterate how much air there is in the economy and the […]
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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