“No one has ever taken this kind of jackhammer to the economy in such a brief time and shut it down. We just don’t understand whether this is going to take a year or ten years to work out of. Therefore, the prudent thing right now is to hunker down, minimize discretionary spending, build up liquidity, get into cash, and buy gold. There’s no playbook that will tell you where we’re going. We’ve violated all the rules of economic life and monetary rationality that have ever been created over the last centuries.”
— David Stockman — InternationalMan.com