Libertarian ping! Click here to get added or here to be removed or just reply to this post!
Posted on 10/17/2008 11:08:27 AM PDT by jmc813
U.S. Rep. Ron Paul, who has been an opponent of the government's bailout plan, spoke Friday with CNN's Kiran Chetry on "American Morning."
The Texas Republican says the bailout's infusion of government money will lead to inflation, that our current monetary system is coming to end, and the market, not politicians, can best solve the economic crisis.
Kiran Chetry: The last time you were with us you explained why you were against the government's bailout plan, why you were voting against it, and you didn't believe focusing on buying these troubled assets was the smart thing to do. Since then, they've tweaked it and decided to buy stakes in some U.S. banks. Do you think that's a better strategy to help heal the economy?
U.S. Rep. Ron Paul: They tweaked it up. It started out as a three-page document and went up to 450 pages. Instead of $700 billion it's up to $850 billion. Reuters had a story out today. They estimate it's going to cost the American taxpayer about $5 trillion. It's tweaking in the wrong direction, and I don't think it's going to do any good whatsoever.
Chetry: The credit markets are starting to loosen up a bit, at least from what we've seen this week. Is that a sign that maybe it is working?
Paul: Maybe to some degree in the short run, but that just means we'll have more inflation. You can't create $5 trillion out of thin air and not expect inflation. So although the dollar may be up a little bit right now because the markets are a little calmer, this just means that in time we're going to all suffer and pay for this, and we're going to pay for it with higher prices.
(Excerpt) Read more at cnn.com ...
I wonder how many people here would now prefer Paul to McCain. At least on domestic policy, he certainly knows his stuff.
You see, we liked our lives the way they were and we didn't want to think or worry about the things that Ron Paul was telling us. Perhaps we'll listen now.
I’m thinking Paul will get my vote.
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The video is on YouTube already.
Ron Paul is a smart, decent, honorable representative. It was difficult to watch the not-so-smart, not-so-decent, not-so-honorable attack and demonize him during this election. Sad sad sad.
Not only do many not want to hear it, but most refuse to acknowledge that our monetary system problems caused the housing mess, not the other way around.
Ah, always good to hear someone who actually makes sense.
On domestic policy, I can’t imagine ANYONE would choose McCain over Paul. Immigration, abortion, free markets, drilling, balanced budget (and Paul is actually serious about it), sound monetary policy, etc.
After the primaries (well, maybe after McCain chose Palin) Paul should have endorsed McCain and asked to be his economic adviser. He should have told his supporters to get behind McCain-Palin. I just see an aging Congressman who is completely both junking a wonderful legacy & a historic opportunity to restore the GOP back to their roots. If Paul would have been McCain's economic adviser and been visible on the campaign trail with him Obama wouldn't stand a chance.
No argument here. The international front, on the other hand, is a different story. I also question his ability to accomplish his goals.
Americans always want a happy ending. We always want to believe nothing truly bad will ever happen. We believe we’ll always be number 1 (which I sincerely hope, but highly doubt). And we always want to spend, so much so that we drive ourselves into enormous debt (federal, state, and personal).
Politicians keep playing into it to. What were we told to do after 9/11. Shop. It was good for the economy!
ping
All the proof you need there is to see Peter Schiff go up against some of these economists on various news programs. They call him crazy, yet he’s always right.
Well look, after the primaries you gotta let go of that bitterness and get back to work defeating the real enemies in this country. I'll be the first to agree with you that the GOP/Fox News/conservatives bloggers basically treated Paul like crap.
When people are in a Ponzi scheme, they just don't want to hear it. When it crashes on them, they don't tend to give the messenger credit for the warning they ignored.
But since we're all being taken along for the ride, we can only hope that the idiots start paying attention soon!
Would McCain have accepted that?
Perhaps, with his dislike of earmarks, and his fiscal responsibility. But I don’t know that there aren’t a lot of debts for Sen. McCain to repay.
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