President Biden’s Next $3 Trillion Boondoggle

David Stockman, Michael Oliver & Michael Timmins return at this week’s program.

“Leave it to the New York Times to remind us why prosperity is not just around the corner. And that’s regardless of whether or not the force-feeding of $6 trillion of Everything Bailouts into the US economy during the past 365 days causes the 2021 GDP stats to make up for the 2020 plunge brought on by the Virus Patrol.” So wrote David Stockman in his March 23 missive discussing why the current exponential trend in government spending is leading the U.S. economy not to a more productive economy but rather toward a cataclysmic end. David explains and shares advice he has for common folks given that view.

Based on Oliver’s momentum and structural analysis of key markets, we asked him what he thinks of David’s views on the impact of out-of-control spending as he comments on key markets. Michael Timmins provides an update on the exploration and development progress being made by Fury Gold Mines.

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David Stockman was formerly a senior managing director of The Blackstone Group. Prior to joining Blackstone, Mr. Stockman was a managing director at Salomon Brothers, Inc. He served as the director of the Office of Management and Budget in the Reagan administration from 1981 to August 1985 and was the youngest Cabinet member of the twentieth century. From 1976 to 1981, Mr. Stockman represented Michigan in the House.

 

Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, NYC. He studied under David Johnson, head of Hutton’s Commodity Division and Chairman of the COMEX.

In the 1980’s Oliver began to develop his own momentum-based method of technical analysis. In 1987 Oliver, along with his futures client accounts (Oliver had trading POA) technically anticipated and captured the Crash. Oliver began to realize that his emergent momentum-structural-based tools should be further developed into a full analytic methodology.

In 1992 he was asked by the Financial VP and head of Wachovia Bank’s Trust Department to provide soft dollar research to Wachovia. Within a year Oliver shifted from brokerage to full-time technical research. MSA has provided its proprietary technical research services to financial and asset management clients continually since 1992. Oliver is the author of The New Libertarianism: Anarcho-Capitalism. 

Michael Timmins, President, CEO & Director of Fury Gold Mines, brings over 20 years of experience as a mining executive from his work with a number of companies, including Agnico Eagle Mines and Placer Dome. Mr. Timmins was Vice President of Corporate Development at Agnico, where he played a key role in the development of the Kittila mine in northern Finland and in the acquisition of Osisko Mining for C$3.9 billion. He has degrees from Queen’s University (EMBA), the University of British Columbia (M. Sc. Metallurgy) and Bishop’s University (B.Sc.). Mr. Timmins also serves as a Director and Audit Committee member for Excellon Resources.

About Jay Taylor

Jay Taylor is editor of J Taylor's Gold, Energy & Tech Stocks newsletter. His interest in the role gold has played in U.S. monetary history led him to research gold and into analyzing and investing in junior gold shares. Currently he also hosts his own one-hour weekly radio show Turning Hard Times Into Good Times,” which features high profile guests who discuss leading economic issues of our day. The show also discusses investment opportunities primarily in the precious metals mining sector. He has been a guest on CNBC, Fox, Bloomberg and BNN and many mining conferences.