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As he argued before, "owning stocks here is very dangerous," and despite Keene's best efforts to denigrate Stockman's "of course it's a bubble," perspective; the former inside-man exposes the hard mathematical truths of valuations, performance, and reality in this brief clip. Who is to blame - The Fed or Wall Street? "It is a question of who has taken whom hostage," Stockman concludes ominously, "it's a co-dependency... it's very dangerous."
"Wall street demands that the Fed keeps dishing out the liquidity, keeps dishing out the monetary heroin...
They have a hissy fit if the chairman of the Fed even suggested they might begin to taper four years into a recovery.
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