A week ago, Gordon Long at Macro Analytics interviewed me for the third time on Financial Repression. Long made the interview available today.
The subject this time is Illinois pensions and turmoil in Greece.
I believe a minimum of seven Illinois cities are in serious and immediate trouble, unable to meet current obligations. Numerous others cities are in serious trouble over pensions eventually.
We also discussed Greece.
I stated, as I have on my blog, that it appears Greece is stringing the Troika along, purposely giving Greek citizens time to pull deposits.
Today we learned Tax Revenue Collapses in Greece; Government Denies Capital Controls; Citizens Pull €2bn in Three Days.
[youtube https://www.youtube.com/watch?v=oyJGibclBD4]
Link if video does not play: Mish Comes Out Swinging on State of Illinois, Public Pensions and Greece.
Previous Interviews with Gordon Long
- April 20, 2015: America’s Pension Problem: Gordon Long Interview of Mish
- October 2, 2014: Financial Repression (and How to Defend Yourself From It)
Mike “Mish” Shedlock
