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All right you might not say it's tied directly it's of their debt talks of a lot of them here but golds at a record today and over 16100 dollars the ounce.
1612 more to the point of almost eleven bucks the -- today typically when folks are getting nervous they tend to park their cash in the -- -- -- Are less so in stocks and certainly that stock market out about 88 points today down but not meltdown.
But Republican president to kind of former New Mexico.
Gary Johnson says the meltdown notwithstanding if it were to come to pass it would be greater if we keep kicking the can down the road.
Have you great to be on here and I write -- the opportunity here is to stop printing money so lomb.
I would not raise the debt ceiling and for all love all the chaos that will ensue all the problems that will go along with us and I don't want to minimize.
This is something we can deal with and now as opposed to later and I'm.
In the camp that believes we're gonna have a monetary collapse and that'll be the bond market that collapses simply because.
There's no re paying fourteen trillion dollars and that given in.
Our current deficit this year last year the year before -- Hussein is greater -- to -- governor.
Sort of passing the buck.
That then knocked.
I think -- -- in that it could be a situation we're gonna not be in control -- continual growth in other words can you get an extension and then resolve yourself.
To fix this or -- have been you know you.
Been there done that how many times have we seen that played out in our lifetimes where.
There's the last time that we're gonna raise the debt ceiling when the reality is is I can't tell you how many times -- have scene that played out.
Republicans control the house look Republicans may not control anything in the future this is certainty the certainty is we could actually.
Bring this to bear now and by bring this to -- stopped printing money and deal with a balanced budget now.
Now as opposed to what I just think will be calamitous down the road on it'd be pretty chronic disease say if we.
It now but now yeah yeah I bombed and and the argument is -- interest rates could rise a lot.
Things -- very very -- may be quite a while.
You still say that would be preferable -- -- time.
I think the markets are really ahead of all of us when it comes to all this thinking and certainly a lot of this has to be discounted into it didn't really because if -- had this factored -- well what we're not weren't first of all we're not gonna defaults on paying back interest on the -- I don't you're saying the event a -- of a downgrade right at some point that's so so but if -- Think the markets affected that it had.
Well who's who's to say I go back to 2008 when the market drops 800 points and all this conjecture over well congress failed to act and they acted.
-- the agency -- -- the first time congress rejected our.
IRA President Bush so 777 points right so I market could lead this again.
Well sure but it happened then if if if that -- the end all of that where the fix whether markets -- recovered a hundred points immediately and they didn't so.
I just like the same.
Markets are one thing.
Certainty is another thing here's a chance for politicians to actually creates certainty and certainty.
You know a sound monetary system a sound dollar -- we've we've.
Probably not deserving AAA rating.
Below -- little -- tests.
-- for years while we've been talking about this I think for years that this is -- this is a downgrade it should happen will happen.
Via Federal Reserve was buying up up to 70% of our own debt so.
You know all borrowing is one thing up printing money is another thing and we're printing money that's what we don't need to recognize and when it goes to a 100%.
Printing money to.
To actually buy up our own debt -- that's the that's the monetary collapse on the argument for doing something like this is you know.
-- the genie in the bottle argument notwithstanding.
And that it's hard to put that back and when when held.
It's yours is that each it will will be forced to be disciplined.
-- -- -- But force let's force that now let's let's make let's -- now let's not raise the debt ceiling what's the deal with this as difficult as -- going to be.
As it's going to be -- I don't wanna down play just how difficult it's immunity means raising taxes is part of the deal to forcibly I don't I don't think it's a matter of raising taxes I would not advocated raising taxes I'm advocating on the side of the fair tax which would eliminate business to business tax.
Eliminate the corporate tax I think that it really reboots the computer.
Well reboots the American economy -- decades of of real growth.
Back to -- -- eliminate the income tax eliminate the IRS.
One federal consumption tax simplify.
It's awful governor good seeing you again Neil thank you very much for having -- Gary Johnson Bob forgot.
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