More and more I believe we are heading toward an unraveling of our country and perhaps the world economy. Our once great economy (the worlds most important economy) is (probably) in it’s last throws due to our inherently flawed monetary system. At the same time, the war and entitlement system is bankrupting us. Progressive, ignorant leaders in congress are using this economic fall-out to push their progressive agenda through, seemingly oblivious to the catastrophe that awaits us. On the left, this disaster is being used to get more tax revenue and wealth redistribution. On the right, the progressive Republicans have lost faith in the constitutional argument as they followed identity politics to their grave and you can thank Carl Rove for that. The party is dead because it stands for nothing.
Then there is Ron Paul. The “libertarian-like” movement gaining in popularity because they dare suggest we get to the root causes of all of these problems that plague our nation. Ron Paul gives voice to what the GOP can’t – core convictions and constitutional principles which made our country the most powerful on earth.
Ron Paul is the only politician who can answer the most pertinent question of our day; What’s wrong with our country?
Our monetary system is destroying our constitutional system of government. Progressive politicians act as though they simply have no choice but to nationalize our banks or any business, they are told, is “too big” to fail. At the same time suggesting we need incredible regulation to stop this from happening again. This is where we run into congress doing what it does best, creating unintended consequences. I’ll just state it;
If we let these banks and businesses fail, that is the ultimate form of regulation because it sends a serious message to other players and businesses in the market – Get your shit together. Instead, we encourage businesses to risk everything because, hey the government will always be here to save us. “We’re too big to fail”. At the same time, the Federal Reserve keeps interest rates far too low considering how bad our economy is. People are losing jobs, yet the fed is WORKING to encourage more growth. Perhaps we need the losses? Perhaps the bad debt needs to be liquidated? Why must our progressive politicians continue on the same inane path and never deviate? As a Ron Paul supporter and recent convert to the Austrian school of economics, it’s incredibly frustrating to see the economists who have been wrong so many times now, allowed so much power still over the direction of our country. Geithner, Paulson, Bernanke, Obama never saw this crisis comming, of if they did never admitted it. So why now, must we believe them? Ron Paul, warned us. See the amazing video below; Here is our friend Ron Paul preaching about how bad the economy is. If you notice above him, the DOW and Nasdaq had just set A RECORD.
See, this is a man who get’s it right. He knew what was coming and he warned us. He understands the foundational, core issues that created this financial mess. Ron Paul warned us time and again. Today, the good Doctor is warning us of serious inflation ahead. How about we trust him, instead of those who have been so wrong in the past? Just how wrong have they been? How about a timeline of fail?
Timeline Of Fail: By Ben Bernanke and Hank Paulson.
March 13th, 2007 – Henry Paulson: “the fallout in subprime mortgages is “going to be painful to some lenders, but it is largely contained.”
March 28th, 2007 – Ben Bernanke: “At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained,”
April 20th, 2007 – Paulson: “I don’t see (subprime mortgage market troubles) imposing a serious problem. I think it’s going to be largely contained.” , “All the signs I look at” show “the housing market is at or near the bottom,”
May 17th, 2007 – Bernanke: “While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.”
June 20th, 2007 – Bernanke: (the subprime fallout) “will not affect the economy overall.”
July 12th, 2007 – Paulson: “This is far and away the strongest global economy I’ve seen in my business lifetime.”
August 1st, 2007 – Paulson: “I see the underlying economy as being very healthy,”
October 15th, 2007 – Bernanke: “It is not the responsibility of the Federal Reserve – nor would it be appropriate – to protect lenders and investors from the consequences of their financial decisions.”
February 14th, 2008 – Paulson: (the economy) “is fundamentally strong, diverse and resilient.”
February 28th, 2008 – Paulson: “I’m seeing a series of ideas suggested involving major government intervention in the housing market, and these things are usually presented or sold as a way of helping homeowners stay in their homes. Then when you look at them more carefully what they really amount to is a bailout for financial institutions or Wall Street.”
February 29th, 2008 – Bernanke: “I expect there will be some failures. I don’t anticipate any serious problems of that sort among the large internationally active banks that make up a very substantial part of our banking system.”
March 16th, 2008 – Paulson: “We’ve got strong financial institutions . . . Our markets are the envy of the world. They’re resilient, they’re…innovative, they’re flexible. I think we move very quickly to address situations in this country, and, as I said, our financial institutions are strong.”
Mar 18th, 2008 – Bear Stearns Bailout Announced
May 7, 2008 – Paulson: ‘The worst is likely to be behind us,”
May 16th, 2008 – Paulson: “In my judgment, we are closer to the end of the market turmoil than the beginning,” he said.
June 9th, 2008 – Bernanke: Despite a recent spike in the nation’s unemployment rate, the danger that the economy has fallen into a “substantial downturn” appears to have waned,
July 16th, 2008 – Bernanke: (Freddie and Fannie) “…will make it through the storm”, “… in no danger of failing.”,”…adequately capitalized”
July 20th, 2008 – Paulson: “it’s a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.”
August 10th, 2008 – Paulson: “We have no plans to insert money into either of those two institutions.” (Fannie Mae and Freddie Mac)