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Is what it when -- longer close you know there's just a kid and now in Europe really have a budget director just got to hold Republican Party turning you but that's neither let's put.
As the job what one of the things you wrote it down and feared in your best selling book and then it in in your comments later after -- Hillary administration -- 85.
On -- that there would be held at that -- but no one saw the hill.
And and and and obviously the president's vice President George Bush senior gets elected.
Like -- goes -- people we had some good breaks along the -- -- so -- so well who's to say right now because the Soviet Union collapsed there was a huge reduction in defense spending but that's already done and we -- back a little -- so we can't -- -- cat well we had -- who will listen I don't think there's another Soviet -- -- -- catalog and Internet -- -- well we had -- economic bubble that we -- -- wasn't -- we had millions of jobs created that we're not -- -- -- how much -- taxes have to -- up -- -- which I think we need to have a half a trillion dollar change in policy.
Have a friend it's a year OK and most of that we'll have to be taxing the tax increases in tax increase so it's -- top -- -- -- so close to 40%.
We're gonna need other taxes we're gonna need a consumption tax or we're gonna need -- transaction tax on David -- it comes Sweden.
And there are people who are a lot -- I don't there -- a lot worse very and it's unfortunate but we're at 25% of GDP today the federal level they -- -- -- -- drug capital or countries that if if if all of a sudden.
We've -- trade -- -- trade yeah I would like to see a slimmer budget I would like to see a lower shares outstanding then we can have a lower tax burden.
So you would have been for the self care reform the president had no idea I think it won't work I do think we need to reform health care about I think that's going to be solved by the private sector more competition more consumer choice and so for -- who rises of this Phoenix -- it.
Well it's pretty -- to see what the public and these tea parties and really nonpartisan as far as I concern.
Because the public is finally realize that Republicans have been -- for 25 years.
And they know it and the Democrats.
Are out there saying.
We're gonna spend our way to prosperity is the rerouted and I thought since you are as they hate everybody up -- so -- -- down real -- lying in this sort of sort of there's a realignment but.
In it did before that realigning gets a call I mean where does global -- -- the capital moved to Asia to China India where.
Well I -- global capital right now is very restless and very mobile because it was huge amount of speculation there's too much easy money everywhere in the world the Fed.
This being mimicked by all the other central banks the world.
We're flooding it with paper were undermining people's confidence in the monetary system and in their own currency.
None of this is a good thing and it all is being done and they on the idea that we got into this huge bubble collapsed because of too much debt everybody knows that.
And somehow we're gonna solve the problem by issuing massive amounts of additional debt.
In order to try to stimulate the economy that I think is that fundamentally erroneous.
Assumption that's what national policy is based on that's why we have all of the stimulus that's why we have interest rates that are ten basis points.
And that isn't going to work and I think we're heading for a real.
Financial monetary -- are we heading for Carter -- double digit inflation primary to 21%.
In I don't think we're gonna have inflation that I think we're gonna have a badly performing low growth no growth.
Economy we're gonna have so that would keep interest rates from the low.
It was the -- interest rates down that's the outside but without jobs and without growth in without a recent.
Restoration of prosperity I don't think it's -- future that people want but it's one really a great deal of the guidelines on his face to face.
-- take you down with themselves is they don't say what Democrats want you to say in say with the Republicans on his -- -- kind of like.
Well a violent I had I wouldn't say that I think there are others who recognize this but.
Yeah at some point we have to face the facts in the -- you like Tea Party movement they must like you -- -- well Sam I don't like them because I would place party are you part of Iraq.
Don't think -- part of that.
That may be analytically.
In terms of my sentiment in terms of my belief I think you have more power to them.
But until they actually are able to translate.
That -- direction let's call it into changes.
In our elected public office -- in a big way in both parties or a new party.
We're going to be stuck with the governance we have today and with the governance we have today I think there's no alternative to tax increases as we have to pay your bills.
So either we're gonna have a big Tea Party and it's gonna make a decisive change.
In our elected.
Representations and politicians.
Over -- have to face the facts and start paying our bills even if it means.
Austerity and a lower growth rate than we would like to have.
Well -- -- here on I'd be remiss if I didn't mention apparently you settled charges with the SEC.
On this that comes and I've been this is the bankrupt automaker that did they would charge against -- Improprieties all that.
Criminal charges have long been dropped so towards the SEC so this is -- behind you -- well I certainly hope so let me put it that way.
Do you think they drag this thing out when your next book comes out there hot to -- to just -- on both sides.
Just to drag you through them not to question your credit problem.
I think -- they're really unrelated.
All that was about what I did as a private investors this is that you know how this goes yeah I know I know and people obviously we'll throw money anyway they are can't.
But I think sooner or later in the facts and -- truth of the matter is -- will out and I'm trying to called the best I see it.
I don't -- -- -- she writes in an eagerness to solve I didn't mention Nancy Reagan.
Now I remember at the time she's very -- on Ronald Reagan's image you didn't exactly help went -- when you made these comments.
How did she get along with it does she give you the deaths -- did she ever you know I know some residents of astrology and it will run.
She obviously had an important role in advising.
President Reagan -- -- -- any -- by the he.
I don't know OK but I do know that I had a job that was inherently controversial no one likes of bush detector -- surely you know -- now or in any White House so I saw that is going with the territory.
I had great admiration for her I don't think there -- every instance that I recall.
That and so I was aware of that you since kept in touch with a lot of the former staff members -- found itself.
The bottom line it's an uninvited to crystals form it's not right if not let our David -- look forward to your book when it comes out it should be a must -- this -- your last one.
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