JH: I’m Jack Hanney, Senior Partner at Patriot Gold Group.
DM: Hi I’m Dick Morris. I’m a political consultant.. I worked with Bill Clinton back in the 90’s and thirty or forty different senators and governors. Worked for fourteen presidents and prime ministers around the world. Just recently my wife Eileen and I wrote a book called Armageddon: How Trump Can Beat Hillary. And he sure did, so together we’re gold.
JH: Together Dick and I are gold. Dick Morris an advocates for holding physical gold and silver in uncertain times and holding political insider familiar with the process and threat our economy faces gets his physical gold and silver through Patriot Gold Group. Together we are gold. Let’s get right into it. We have Dick Morris with us, a renowned political commentator and best-selling author, nationally
syndicated columnist, former White House consultant whose recent book as he mentioned,
Armageddon: How Trump Can Beat Hillary, predicted the outcome of the election. Today we’re goingto talk a bit about finances under a Trump presidency, and take a look at longterm headwinds that lay ahead for the U.S. economy and Americans. Starting off with some questions regarding the political landscape, President Trump has pushed for up to one trillion
DM: Oh that sounds great, say it again.
JH: President Trump, well I guess it’s President-elect for the time being. He’s pushed for up to one trillion for infrastructure upgrades that are decades late and desperately needed in the U.S. While this will create jobs, what are the people who you influence saying about our ability to afford this plan.
DM: Well, obviously any major spending program when you have a 20 trillion dollar debt, and at least a trillion dollar deficit is hard to swallow, but I think the lesson of the Kennedy years of the Bush 41 years and of the Reagan years and of the Bush 43 years is if you cut taxes, you stimulate economic growth. Particularly if the cuts are in the upper reaches, in the upper one percenters, because it really
does flow down and it is really true what John Kennedy said, a rising tide lifts all boats. Now Obama’s stimulus program was aimed at the downscale voters and it didn’t percolate up very much and they for the most part saved it. They understood it wasn’t real economic stimulus it was a just a check they were getting. And they would get it every week. So they tended to save it or use it to pay down their
mortgage, catch up on their credit cards and it really didn’t do the economy much good. But when you’re lowering the corporate tax rate, which is now the highest in the world, and you’re changing taxes so the two trillion that’s abroad can come home to the United States, you’re talking about tax cuts that really will generate growth. Therefore people feel confident in spending that money because they
expect there to be growth and there will be growth.
JH: With Conservatives set to control all three branches of the government, what are some of the things some of the average middle class Americans expect to see happen in the next four years. Specifically as it pertains to their wealth.
DM: I think these are going to be very good times. I think you’re going to see significant economic expansion. There is a danger, too much of a good thing. What Obama did really is take the money supply of the country and he filled everybody’s gas tank up to full, but nobody went out driving because the economy was bad. The weather was bad it wasn’t a good time to drive. So they all took their cars with full gas tanks to the parking garage and left them there and they’re sitting there. And when Trump brings out the sun, and it becomes nice driving weather they’re all going to want to take their cars out and that’s a traffic jam. Which in economic terms means huge inflation. We have a current money supply of eighteen trillion dollars, a GDP of eighteen trillion. You have two trillion of it abroad that doesn’t want to come home because of unfavorable tax treatment. Trump’s going to change that, it’s going to come. You have two trillion that’s on corporate books, corporate accounts. These companies would rather put it under the mattress than invest it in their own companies, because they have so little confidence in the economy. They’re going to start investing it. You have a trillion in the banks, that the banks wont’t lend out, because they can’t find creditworthy borrowers, but you’re going to find them now with the economy moving again. You have half a trillion in paid down credit card accounts of the average person and as the economy moves and they get more confident and the ice
breaks you’re going to see them spending that. Then the danger is that they spend it too much and too fast and you get inflation. That’s why you want one of these (hold gold coin). You don’t want to trust a politician with a printing press.
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