Vigilante and im the austin economist and we meet and 42nd street and do you blow me away with your 45 magnum debt equalizer or do we have a discussion about this well i say theres a basic principle of debt that a debt is only valid if you make if the debtor can repay it but if of a lender makes alone without any idea how the debtor can repay it then the loan is considered a fraudulent loan so i would define fraud and begin of a large debt write down also a secretary of the treasury i would be in charge of text policy and id minimize housing prices id roll them back down by basically taxing the Capital Gains of land so that when value gains if you would tax the speculative gains and land the under and income not the building but the land youd. Nobody could borrow from the banks to inflate housing prices so id end the asset Price Inflation of real estate and b. S. The Price Inflation of corporations and basically restructure the economy in the way that it could afford to handle good deb
Vigilante and im the auster economist and we meet and 42nd street and do you blow me away with your 45 magnum debt equalizer or do we have a discussion about this well i say theres a basic principle of debt that a debt is only valid if you make if the debtor can repay it but as of a letter makes a loan without any idea how the debtor can repay it then the loan is considered a fraudulent loan so i would define fraud and begin of a large debt write down also a secretary of the treasury i would be in charge of techs policy and id minimize housing prices id roll them back down by basically taxing the Capital Gains of land so that when value gains if you would tax the speculative gains and land the under and income not the building but the land youd nobody could borrow from the banks to. Inflate housing prices so id end the asset Price Inflation real estate and b. S. The Price Inflation of corporations and basically restructure the economy in the way that it could afford to handle good debt
A fantastic im not sure thats what were talking my head into the ring actually we have elections coming up here in this year 2020 or of course part of our epic new series front running so if you were made treasury secretary in 2020 what would you do this year 2020 so i guess you would come into office 2021 in january 2021 would be the 1st thing you did to fix this economy or let it sit down with the attorney general and say were really going to apply the law and of course if you applied the law a lot of bankers would find themselves in jail yeah apply the law debt westray to the Charles Bronson of economists right i began to underline the quantitative easing but the Interest Rates rise again and that would leave a lot of banks pretty make good and we would have some wonderful public banks a city bank would be a public bank and chase and let Interest Rate rises and public banks. Wouldnt make lent loans for the stock market and speculation and for corporate takeovers wed make loans to ac
Lent loans for the stock market and speculation and for corporate takeovers wed make loans to actually spend into the economy and i would oversee a rebuilding of americas infrastructure questions im reading some Northern European economists i forget which is its a fan letter sweden but theres a school of thought that believes in a natural rate for the earth interest which is roughly 4 to 5 percent do you believe that there is a natural rate of interest there was never been a natural rate of interest all rates of interest for the last 5000 years have been administered right any rate as an administered raise in a sweet spot for rates that they would hugh toward if the left alone and not interfere with by Central Banks if you believe in circular reasoning you believe in a natural rate of interest but if all 30 of the reasoning in that idea that somehow without Government Intervention is then the kind of make it work without a government government somehow the private sector would equalize
Lots of welcome to be here i was just curious i had his crazy image moment ago you know back in the seventys 1970 s. There was a movie called death wish with Charles Bronson to remember that i remember that there was a sequel in the sequel to that right now sink in that we could do a remake you are the star you play the Charles Bronson role is called death wish and here vigilante banker economist that goes around new york blowing away bad debt where you think i love it ok ill set that up you think youre ready to do that 2020 i would be a very good secretary of the treasury thats exactly what i would do i have a fantastic im not sure thats what were talking my head into the ring actually we have elections coming up here in this year 2020 of course part of our ethic new series front running so if you were made treasury secretary in 2020 what would you do this year 2020 so i guess you would come into office 2021 in january 2021 would be the 1st thing you did to fix this economy or whateve