‘Peak Trump’ Author Predicts 40 Percent Drop in Stocks, Says Rally Is Irrational

Former U.S. budget director from the Ronald Reagan era David Stockman is predicting a stock market collapse. Stockman, who is also the author of a book called “Peak Trump,” is not impressed by the S&P 500’s three-day winning streak or the fact that the index is about close at a multi-month high after last week’s declines. While most of Wall Street is cheering today’s rally, Stockman is waiting for the other economic shoe to drop, taking the S&P 500, which is currently hovering at $ 2,819, down to the $ 1,600 level or lower in the process. The doom and gloom pontificator

The post ‘Peak Trump’ Author Predicts 40 Percent Drop in Stocks, Says Rally Is Irrational appeared first on CCN

News – CCN