Druckenmiller describes Britain as having stronger fiscal position than US with 2% deficit-to-GDP versus 4.5%.
“If you look at it, what if I were to tell you there was a Republican president but a better version, and you had two thirds Republican majorities, in both houses of congress.”
Druckenmiller says the only durable way to lower long-term yields is to address the primary deficit.
“Then do the only thing that durably lowers long-term yields: address the primary deficit.”