Speaker 1: 

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Speaker 2: All of this means that it matters a lot that this group is required so
much power, that the concentation of [unintelligible 00:00:13] world at the top has
destroyed our society, has let us to make bad choices, just in terms of the overall
state of the economy, as well as the unjust choices, choices that hurt ordinary
people, even if they may benefit a few people at the top. We need to try to turn
this around, and maybe the most important thing is that we still have this tendency
to assume that people have lot of money, that that means that they actually
understand world, that being rich means that you also are wise. That is very, very
much not true. I don't want to romanticise the wisdom of the common man, but the
fact that matter is that if anything the top 1% has worse idea about realities of
life and real impacts of [unintelligible 00:01:11] than any random 15000 ordinary
shmoges you pick up off the street. Anything we could do to curve that influence is
going to help make America a better place.
I was minded of Larry Pink from Blackstone who said that we should raise the
retirement age because people mostly just sit around in their jobs until they hit
their 60's and start goofing off. Other countries like the nordics are living
refutation of the orthodoxies saying that high taxes are enormously destructive.
What is true about the 1%, even the nordics are not that successful of taxing an
extrem wealth. They make more of an effort out of it than we do, but they do live
in a globalized world. The rich are illusive , you've got people like
Olivia [unintelligible 00:02:06] and Larry Summers saying that deficits fears have
been vastly overblowned. I think we are in a situation where we shouldn't be
worried much about deficits. However, that doesn't mean that you can completely
glowed away. Combination of deficits spending on investment and taking the wealthy
to pay for social programs is the way i would go. Seems like we are mentaining a
goverment game of [unintelligible 00:02:34], with the very [unintelligible
00:02:36] hammer. I want to understand what the whole picture needs to look like if
we could design it ourselves.

Speaker 1: This audio is used for the transcriber test at GoTranscript.