John Maldin Interview on US Deficit and Debt

John Maldin - a financial analyst and the author of ENDGAME: The End Of The Debt Supercycle And How It Changes Everything - was interviewed last week on Yahoo! Daily Ticker. Although he is full off Keynesian nonsense, he also makes some good arguments about the silly situation in the US, and the nonsensical battle between the Democrats and the Republicans.

Unfortunately, he is hopeful and optimistic, and believes that the politicians will do the right thing. I respectfully disagree. Politicians never do the right thing, they do what gets them reelected and gets them funding for their campaigns. That's it. So unless it comes from the general public and politicians do not have any other choice, they will not stop overspending and over-promising.

1. Budget Battle Will Likely Lead to Crisis and Recession, Says John Mauldin
2. Our Debt Binge Is Ending — And The Middle Class Will Get Clobbered