It’s great to see Ron Paul writing for Forbes.
By attempting to cushion the economy from the worst shocks of the housing bubble’s collapse, the Federal Reserve has ensured that the ultimate correction of its flawed economic policies will be more severe than it otherwise would have been. Even with the massive interventions, unemployment is near 10% and likely to increase, foreigners are cutting back on purchases of Treasury debt and the Federal Reserve’s balance sheet remains bloated at an unprecedented $2 trillion. Can anyone realistically argue that a few small upticks in a handful of economic indicators are a sign that the recession is over?
What is more likely happening is a repeat of the Great Depression. We might have up to a year or so of an economy growing just slightly above stagnation, followed by a drop in growth worse than anything we have seen in the past two years. As the housing market fails to return to any sense of normalcy, commercial real estate begins to collapse and manufacturers produce goods that cannot be purchased by debt-strapped consumers, the economy will falter. That will go on until we come to our senses and end this wasteful government spending.
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This is great news.
I hope we can convince Ron Paul to run for president again in 2012. (Assuming we’re not living in the Wiemar Republic by then.)
TRacy
@Tracy Saboe
I wish I could donate some life to RonPaul. If I gave a year, and everyone of his supporters gave a year. He’d be a young buck ready to kick some butt again. Except wise and young.
I am all for him running for President again, but can he handle it? That’s my big question. I almost feel sorry for the guy. He’s out there preaching logic.. and you have the ignorant masses… well they don’t have a clue about the truth he is telling.
But anyways, wish in one hand and spit in the other….
I am honestly doubtful about the future of the USA anymore. You have a bunch of idiots at the helm. And whether you like there policies or not, your still freaking attached to a sinking ship, a crashing plane, and train headed on a collision course. *sighs heavily*
I’ve always liked Ron Paul. I voted for him bak in the day when he was the Libertarian presidential candidate. But it wasn’t until the 2008 campaign that I got to ‘know’ Ron Paul. He has truly become one of my Heroes.
i think that ron should run next time with his son for VP, and then we can be assured that we would have continuity of thought on the issues and, more importantly, integrity.
You know what the worst thing is? That even if most people by some miracle knew what is good for them and voted for Paul, I am sure the ones that are at power now would have him somehow discredited or even killed or simply somehow removed from power.There is just too many powerful leeches..
I adore Ron Paul! It is because of him that I am here, obsessed with reading about Austrian econ and sound money, at the same time, listening to Charles Goyette on the radio, quoting Mises and talking about sound money. Two years ago, never heard of this stuff, never cared. RP woke me up at the ripe old age of (ahem) 50+.
Even better, and RP’s greatest legacy, are all the young folks RP has educated and inspired, including my own 3 children, one of whom plans to study Austrian econ in college. I never dreamed that the very best part of my childrens’ education would be inspired by a humble, freedom-loving congressman from Texas.
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