[Video] CNBC - More David Stockman

Looks like David Stockman is making the rounds, fresh off this weekend's 60 Minutes appearance.  Generally there is little to disagree with him here, as our world turns absolutely surreal.  That said, I'd make the point the U.S. cannot technically default as we have our own currency and can print it at will.  Hence in theory it can never not 'fund its debt'.   What it can do is, is what it is doing now - monetize the debt by having the left hand (Fed) buy from the right hand (Treasury) and promise the world, we're not a Banana Republic.  Hence the discussion of issuing 30 year, or 50 year, or 100 year bonds (as Mexico just did) is moot, because we don't need anyone to buy our bonds.... we have a central bank that can do it.   Meanwhile I have Jim Cramer on Realmoney.com weeping in joy at Ben's move to manipulate markets ever upward by debasing the savings and purchasing power of savers "it's good for America!".... the typical Wall Street creed - anything that drives up asset prices, at whatever the intermediate to long term cost is "good".   Must be nice to wear horse blinders and view the entire world via stock prices. Suddenly "Ben knows something!"   Dow 36,000 here we come - paper printing prosperity is here. 

Did I mention it has all become surreal?

[11 minute video]