In the second part of the interview Yves Smith argues the Government deficits are warranted. I disagree – the politicians have spent all our money, are hooked on high taxes and the public sector has become a massive drag on the productive economy.
I might think differently if the politicians had saved our tax revenues during the boom for a rainy day – as Keynes intended – but they did not. They spent and continue to spend like drunken sailors. So time to cut them off; time for us all to get out of debt; time to get back to hard work.
Anyway, here’s the second part of the interview for completeness.
Good luck with your Emini trading.