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John Browne, Euro Pacific Capital senior economic consultant, on why he believes the fiscal cliff is a man-made issue, constructed by career politicia...
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Term limits that's our next guest solution to fix in the fiscal cliff at ending the -- -- theater in Washington.
Throw the bums out joining us now.
Euro Pacific capital senior economic consultant and former advisor to Britain's Margaret Thatcher John Brown with one of the longest titles on our show today John.
Make -- case are.
Well I think -- fiscal -- as damaging as it is to the economy and American prestige is merely a side issue to the entitlement cliff.
That was engineer had been constructed by.
The career up politicians from both parties and I think the only way to stop -- and -- -- fiscal to -- his bad enough imagine getting rid of the Eddie entitlement to it is going to take yen has.
And years of problems and the only way to -- -- that in my view is to have strict single time -- hold politicians.
Because at the moment the politicians place their reelection and that Korea ahead of that policy and the country.
We want -- Rabat -- -- the country to come fast.
And that is there anyway and my way they'll be able to do it the -- is being very affected.
In targeting tax do you see being argued now in the congress in the house.
AA what what would be a Republican Party that is the wrong target but Todd deep thought in my view should be targeting single term limits stochastic broad term limits for all politicians but -- If the selfless members of congress -- selfless enough to vote for single term limits.
Don't you worry actually that they be a bunch of amateurs and that they're only basically giving their ceilings by the end of the first two year term in the House of Representatives and.
-- they got to get out.
Oh my god debt is that is exactly what we want that's more real democracy is about -- having amateur politicians.
We got one professionals -- ingrained in all of corruption of Washington and London.
I'm where -- -- we want people who come in from real life.
Real life and pacing real issues instead of shading them out about I think then -- professional -- let -- -- -- -- -- -- -- -- -- we want -- politicians though -- for the country and -- periodic not professional career politicians you know when I say they have a bit aren't a good thing.
When you say -- it -- so much more intelligent -- with -- if I were to say something like that happen given the current.
About fiscal cliff phobia.
Who ends up looking worse if we had -- going off the cliff for a few weeks Democrats or Republicans are a pox on all houses.
I'm afraid your -- -- -- fox analyzes but then that perhaps that -- that no other country has Europe for example.
America has Dalai the United States dollar odd dollar as the reserve currency of the world it means we can raise more debt borrowings -- much more than other people.
And not be pushed over the cliff why they are being in Europe.
And facing abject poverty America -- climbed on the -- in its own time rather being pushed over the cliff.
By the financial markets and that is a huge -- -- we have.
And if we had pat chaotic politicians as opposed to career as politicians in that -- -- -- amateur -- additions.
We'd -- -- -- -- and have been a great bright future for the United States.
Yes well you know what the weird thing is a more fear spreads around the world.
The lower US bond and treasury interest rates go in the cheaper it is for our government to keep borrowing debt.
Which then -- some more panic around the world which then makes our bonds even cheaper which music and borrow more.
I wonder where it ends eventually they'll be another -- major -- I guess thanks for being with us.
John Brown good weekend he argued that snapping area do you do all right -- happy new year.
