Ep. 1199: Rock Your Mind with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Macroeconomics
The political classes have done nothing but enrich themselves and their bodies by cutting taxes for the past 30 years. Corporates around the world are net savers and they pay pretty much no taxes. In 2010, because of write-offs, I paid more taxes personally than general electric. The only people left that can do anything are consumers and consumers are net spenders mainly because their wages aren't high enough. It's very hard to see how you could create long term productivity gains with infrastructure where you can mix stuff, but you can't move it because the roads are so crap.
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