‘Peak Trump’ Author Predicts 40 Percent Drop in Stocks, Says Rally Is Irrational

Former U.S. budget director from the Ronald Reagan era David Stockman is predicting a stock market collapse. Stockman, who is also the author of a book called “Peak Trump,” is not impressed by the S&P 500’s three-day winning streak or the fact that the index is about close at a multi-month high after last week’s declines. While most of Wall Street is cheering today’s rally, Stockman is waiting for the other economic shoe to drop, taking the S&P 500, which is currently hovering at $2,819, down to the $1,600 level…

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