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Be allowed to Ron Paul remembers Democrats as well and marvels that the folks who refuse to see the conditions.
Or potentially even bigger aggressive we do not address our underlying financial -- on the congress and -- long warned that Washington -- been sorted dilly -- In the face of this is we can't put off but it does how bad could -- get.
Well how are worse than anybody ever conceived of and -- would think 1987.
Was rather minor when you look at it.
I'm fascinated with -- chart on on NASDAQ.
In this last.
-- -- years thirty years.
Because that is a mere blip but that was them -- if you look at the people that -- beyond that 1987.
It was -- a a bull market correction turn out to be very minor.
And I remember when that have a -- if the boom market correction.
How big will the ball mark ago and it was just -- -- panic you know it didn't happen immediately but you know up until 2000.
I work on the assumption that the real bear market in stocks -- start started in the year 2000.
If you if you go into the value of any intact it's all lower than it was in the year competitively made any real money since that 2000.
So yes I think they're gonna go down.
Continuously but I think the big crash.
It's not necessarily.
Be for -- because I think the crash has already occurred.
And that we're in a bear market for stocks.
The other but it did about congress and we've essentially doubled from where we -- four years that's of the Obama -- every -- and they talk about the that we come off that.
Dominant market a legend here is that it's all about these things all of that -- bounces what if you want.
But the fact of the matter is we have come off our worst levels but you step way back and you.
You said that you did this can't go detached from what's going on in Washington right -- and an out and play that up for me.
No -- and you can't detective from monetary policy either because bubbles come from the Federal Reserve.
And the bubbles are encouraged by excess spending excesses -- courage is the FBI had decreed.
Extra money they can't tell they can't tell where that money's going to go.
In many times it goes in the stocks sometimes because in the houses sometimes it goes into the pocket that the bankers.
In back to the -- again they can't predict.
What a way to -- attorney sitting on another bubble right congress and I mean an artificial lead really artificial.
Bubble with what book would bonds and interest rates that if that were to be critical.
I mean I think we I think we live with that it has been made worse -- only he had a moral hazard of the Federal Reserve that you have a moral hazard.
-- present president's working group on financial market is so called punt protection team which was established in 1987.
And I I think they're very active.
They were very active in LA and look at what they did behind the scenes.
And look how they spent trillions and trillions of dollars.
Yet you know thinking -- don't take care of it they'll take care of it but I think that it -- the distortions.
To get much greater of the -- there.
-- -- terrorism worse the terrorism terrorists and underlying illness are on the short run they don't want -- cure -- -- -- long -- lead into the idea.
What's gonna come -- a lot worse than not take in the medicine that we need right now.
Thompson thank you very much good seeing you again.
-- at least.
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