Darrell Castle on Budget & Economy
CASTLE: Strongly Disagree.
A: I'd institute lower taxes, lower regulations on employment, and reductions in government spending. I'm also calling for an end to the Federal Reserve and a return to currency backed by gold.
A: That's a good question. It sounds kind of terrible, but probably nothing. In other words, I think what we did in 2008 was a horrible mistake. What we got out of it was $20 trillion in debt. My philosophy: let failing companies fail. There's no such thing as "too big to fail". Let them fail; that's creative destruction. Newer faster banks will come along, younger banks. And they'll stop doing this. As a result, the system is flushed, cleaned out. Bailouts need to stop and these companies need to start operating on a real, genuine free market system where there's no one there to catch them when they fall.
Q: Do you think the derivatives market should be regulated again?
A: Yes. I think there are far too many regulations and some of them should be stripped away from American business so that they can hire people again, but at this point, I don't see any way to avoid regulating it, yes.
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