Peter Schiff on David Stockman

Peter Schiff talks about the impact and arguments of former Reagan Budget Director David Stockman, and his new book The Great Deformation: Corruption of Capitalism in America.  Because it was written by a former insider, it’s been making waves, Stockman’s critics “shooting the messenger” rather than dealing with his severe criticisms …

In reference to an op-ed piece by Stockman in the New York Times, for example, “Corruption of Capitalism in America,” Krugman dismissed the ex-congressman as a "cranky old man" without even reading the book.

Actually, I was disappointed in Stockman’s piece. I thought there would be some kind of real argument, some presentation, however tendentious, of evidence. Instead it’s just a series of gee-whiz, context- and model-free numbers embedded in a rant — and not even an interesting rant. It’s cranky old man stuff…

Naturally, Stockman fired back.