Fail: Watch David Stockman in March 2017 predict no tax cuts and no Trump Train for stocks | Bob's Blitz

Fail: Watch David Stockman in March 2017 predict no tax cuts and no Trump Train for stocks

Former top federal budget official David Stockman on March 6, 2017 to CNBC: "Wall Street is totally misreading Washington," Stockman told CNBC's "Futures Now" that day. "It's pricing in a fantasy about a Trump stimulus that simply isn't going to happen. There will be no tax cut, there will be no 15 or 20 dollar a share reduction in the corporate rate."


The very next day Art Cashin told CNBC that as major indexes hovered in the red Tuesday and some stocks were coming off 52-week lows, Art Cashin told CNBC that the market could be setting a stage for a minor correction.

"It's a mild warning signal, to tell you the truth," Cashin told "Squawk Alley." "When we've seen those kinds of moves before, the market has either stalled or actually pulled back somewhat. Not anything climactic, but you could be setting up for [a] 5 to 7 percent pullback."

Cashin, UBS director of floor operations at the New York Stock Exchange, said that the lows could have come from political anxiety among investors relating to President Donald Trump's recent accusation that his predecessor had his Trump Tower phones tapped during the campaign.

"The president tweeting about the supposed wiretapping and whatnot took some of the goodwill that popped up after the speech [to Congress] last week," and replaced it with "the fear that we could go into partisan political warfare all over again," Cashin said.

"I would be a little cautious," he warned.

Halftime Report's Josh Brown: "We may have double topped!"

Dow March 7, 2017: 20,900
Nasdaq: 5,840
S&P: 2,370

Hey - look at the dollar. Look at interest rates might be going up!

Dow February 23, 2018: 25,650
Nasdaq: 7,380
S&P: 2,770

The experts guests of CNBC say the say exact thing every single day. Even a broken clock...

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