How a "Very Pessimistic" Ron Paul Would Fix the Economy

[peaceandlove]

How a "Very Pessimistic" Ron Paul Would Fix the Economy

VIDEO (6:14) at article link: http://finance.yahoo.com/tech-ticker/article/282246/How-a-%22Very-Pessimistic%22-Ron-Paul-Would-Fix-the-Economy?tickers=%5EDJI,%5EGSPC,SPY,DIA,XLF,GS,AIG&sec=topStories&pos=8&asset=&ccode=

YAHOO FINANCE tech|ticker

Posted Jul 16, 2009 11:20am EDT by Aaron Task

Congressman Ron Paul is "very pessimistic" about the state of the economy, largely because - from his view - the Obama Administration "continues to do the things that created the problem in the first place."

Long a proponent of small government and a staunch opponent of the Federal Reserve system, Paul's main point is that increased spending and higher deficits are not the solution to our problems, but their cause.

"You can take care of people, but never with a deficit, never by expanding the spending," the Texas Republican says in this exclusive video interview, taped in the Capitol Hill Rotunda in Washington D.C. "The more we do to interfere with the correction - the longer it lasts."

Had he been elected, Paul said he would be doing "a lot less" than President Obama and blames Keynesian economics - which advocates increased government borrowing and spending during times of duress -- for our nation's current ills.

While admitting a transition to what he views an "ideal society" won't be quick or simple, Paul's economic prescription includes:

Allowing bankruptcies to occur vs. rewarding failure with bailouts.
Stop inflation by dismantling the Fed and returning to the gold standard.
Encourage savings and liquidate debt.
Deregulate.
Give tax credits to those who take care of themselves, or the doctors who provide their care.
Cut government spending, especially on international endeavors. "We spend hundreds of billions of maintaining our empire around the world. Let's bring that money home," he says.
These recommendations will be familiar to anyone who followed (or supported) Paul's run for the Presidency in 2008. Given all that's transpired in the past year, one suspects he'd be getting a lot more votes if the campaign were happening today.

SOURCE: DAILY PAUL http://www.dailypaul.com/node/99656

[no caste]

Cut government spending, especially on international endeavors. "We spend hundreds of billions of maintaining our empire around the world. Let's bring that money home," he says.

I like this one (as an unAmerican) :thumb_yello: {maybe CUT some of those war toys/expenses too!}

LOVE

[Seashore]

http://finance.yahoo.com/tech-ticker/article/282246/How-a-%22Very-Pessimistic%22-Ron-Paul-Would-Fix-the-Economy?tickers=%5EDJI,%5EGSPC,SPY,DIA,XLF,GS,AIG&sec=topStories&pos=8&asset=&ccode=



Really refreshing to watch! Maybe the tide is turning. :original:

[peaceandlove]

"What are they so afraid of?" Ron Paul :tongue2:

Ron Paul: The American People Demand Transparency! Audit the Fed! :lightsabre:

Tech|Ticker Yahoo Finance Video See Source: I can't get this link to be active, you will have to copy and paste it: http://finance.yahoo.com/tech-ticker/article/281729/Ron-Paul-The-American-People-Demand-Transparency!-Audit-the-Fed!?tickers=^DJI,^GSPC,GS,XLF,SKF,FAS,BAC

Posted Jul 16, 2009 09:04am EDT by Aaron Task

Congressman Ron Paul doesn’t think his bill to audit the Fed will get past the "power structure”"aligned against it, and here he includes the prominent economists who’ve lobbied the White House and Congress to stop the "politicizing" of the Fed.

But the Texas Republican admits being surprised how much support his effort is getting.

"Why is Congress so sympathetic to transparency?" Paul wonders. "The American people are demanding it. They've awoken and said 'we want to know what's going on with our money. Why are you bailing out the rich guys?' The timing is right. The conditions are right."

So what is Paul afraid the Fed is hiding?

"Just about everything," he deadpans in the accompanying video exclusive, taped at the Capitol Hill Rotunda in Washington D.C. "I'd like to know everything they're doing. We have a right to know what they're doing. They can literally create trillions in guarantees and not report them to us. TARP funds are small compared to what they do."

Reflecting his longtime opposition to the Federal Reserve, Paul notes he's opposed to the system vs. current chairman Ben Bernanke.

Still, recent events have heightened his calls for scrutiny of the central bank.

"Imagine if we had all the records that showed every communication between the Treasury and the Fed and Goldman Sachs?" Paul muses. "That would be really something. That's why they're ganging up [to oppose the audit]. They're a lot more powerful than I am. I have no clout whatsoever."

Well, "no clout" is a bit understated, given Paul's passionate following among many Americans, both on- and off-line, and his newfound ability to drive the debate over issues at the very foundation of our economic system.


SA@Takimag - Ron Paul and Jim DeMint Take on the Fed :thumb_yello:
VIDEO (4:39): http://www.youtube.com/watch?v=DuMJlvXnCLI&eurl=http%3A%2F%2Fwww%2Egcnlive%2Ecom%2F&feature=player_embedded


J. Muskus | HuffPost Reporting

Economists Tell Congress, Obama To Leave The Fed Alone :winksmiley02:

First Posted: 07-15-09 06:02 PM

Efforts to shine daylight on the Federal Reserve have failed so far in the Senate. But with Ron Paul's Fed audit bill already well over the number of cosponsors it needs to pass the House, the Fed's defenders seem to be getting worried.

More than 180 economists and businessmen signed an open letter to Congress and the Obama administration on Wednesday that warned of grave consequences from any regulation of the Fed.

"Amidst the debate over systemic regulation, the independence of U.S. monetary policy is at risk," the letter reads. "We urge Congress and the Executive Branch to reaffirm their support for and defend the independence of the Federal Reserve System as a foundation of U.S. economic stability."

The letter, written by a core group of eight economists that includes former Fed Governor Frederic Mishkin, warns that central bank independence is necessary to control inflation, and worries that the Fed's actions would be overly politicized were it held accountable to Congress or the Executive Branch.

"The democratic legitimacy of the Federal Reserve System is well established by its legal mandate and by the existing appointments process. Frequent communication with the public and testimony before Congress ensure Fed accountability," the economists wrote. "If the Federal Reserve is given new responsibilities every effort must be made to avoid compromising its ability to manage monetary policy as it sees fit."

The letter did little to move Rep. Paul (R-Texas), who's been pushing for broader oversight of the Fed for decades.

"They're doing a bang-up job stabilizing the economy, aren't they? What they call 'independence' we call 'secrecy,'" Paul said. "Throughout its history, the Fed has been a secretive organization that saps the many to benefit the few. 'The many' are now fed up, and expect this kind of protest from the few."

Article: http://www.huffingtonpost.com/2009/07/15/economists-tell-congress_n_234426.html



JULY 16, 2009

Experts Tell Congress to Lay Off the Fed :lol3:

BY DAVID WESSEL

More than 250 prominent economists warned that critics of the Federal Reserve are putting "the independence of U.S. monetary policy...at risk," and they urged Congress to back off lest it undermine the Fed's ability to manage the economy and thwart inflation.

The petition reflects growing unease among professors, former Fed officials and some investors that the vehemence of the criticism from Congress of the Fed's handling of the financial crisis suggests a readiness to weaken the freedom the Fed has to move interest rates as it sees fit.

"The interactions with Congress are becoming increasingly hostile," said Anil Kashyap, a ...

Article: http://online.wsj.com/article/SB124767659527946239.html



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