The “inflation storm” is not coming, it’s here now, but you can take some steps to protect yourself, says President Ronald Reagan’s Budget Director David Stockman in this episode of The Sentinel Report with Alex Newman.

Stockman, who led the Office of Management and Budget (OMB) and spearheaded the Reagan Revolution’s economic component, warned that stocks, real estate and jobs were in major danger. He urged everyone to reduce debt levels and hunker down.

Decades of mismanagement and wild federal spending, in addition to Federal Reserve manipulation of interest rates, have made the coming major recession and the ongoing high inflation all but inevitable. And the economic chaos will get worse before it gets better.

In the final segment, Stockman offers some thoughts on how to rebuild the economy on a solid foundation, and he offers hope that Americans will recognize the importance of returning to free markets and limited government, as in the 1980s, after the storm.