Mike Maloney gives an interview on Capital Account on the “Fiscal Cliff” and the “Holy shit! I got no savings” Demographic.
- This fiscal cliff trap was set 2001-2003 when borrowing for the wars and for medicare.
- Government now accounts for over 50% of US economy.
- All the government jobs don’t create anything.
- Better to take the bad medicine now.
- A small group of men control the economy by controlling currency.
- Government is the cancer sucking the energy out of the economy.
- Baby boomer demographic is not spending but now saving for retirement.
- The economy was goosed to keep the party going as everyone knew the Baby Boomers would spend less.