Ron Paul: Debt Is To Blame

Discussion in 'Economy' started by Kevin_Kennedy, Mar 26, 2009.

  1. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    [youtube]Y0p3nnZaQRY[/youtube]

    [youtube]UagQvdEVxkI[/youtube]

    Great video of Ron Paul, one of his best appearances.
     
  2. neurosport
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    neurosport BANNED

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    Ron Paul and Peter Schiff never explain it in enough depth for me to even begin understanding what they're talking about

    unfortunately i cannot post links ( yet ) but i think Wikipedia has a good explanation ( search Wikipedia for "Austrian Business Cycle Theory" )

    i also like the articles on the "Austrian Enginomics" website ( google for Austrian Enginomics )

    all RP says every time ( and i watched hundreds of his videos ) is "borrowing too much, spending too much" but let's face it - that doesn't really EXPLAIN anything does it ?

    i am not saying he's wrong. he's right. but you can't understand WHY by watching his videos. you gotta dig into the original Austrian business cycle theory ...

    in Austrian theory "savings" are not a buildup of anything but a shift in "time preferences" ... but RP never explains what he means by not enough saving or how real capital comes from saving ...

    you have Austrians saying economy is driven by saving and Keynesians saying economy is driven by spending - how can you tell who is right ? only by looking at their theories in depth and nobody is actually doing this !

    as long as people don't actually examine the two theories in depth ( and people will never do this, because people only like to ACT as if they know shit ) the same scenario will keep playing itself out over and over - Keynesian opinion will prevail during the boom and Austrian during bust. Unfortunately Adolf Hitler was correct when he said "the power of people to forget is immense" ...
     
    Last edited: Mar 26, 2009
  3. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    We're in the bust and Austrian economics is no where near "prevailing" over Keynesian.
     
  4. neurosport
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    neurosport BANNED

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    true. on the other hand as Peter Schiff said "there is still plenty of air left in the bubble" :eek:
     
  5. mash107
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    mash107 Active Member

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    home prices are still waaay too high even though there are 19million unoccupied ones...

    the government should let the market operate and push these prices down.
     
  6. editec
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    editec Mr. Forgot-it-All

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  7. Zoomie1980
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    Zoomie1980 Senior Member

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    We're not in the bust....that's already happened. We are very much in the RECOVERY right now. But economist won't recognize it for 6-12 more months. I've been buying stock heavily since last November. Even betrayed my hatred and distrust of commodities and bought $39.50 oil ( now trading at $53.25). And I;ve been buying every foreclosed house the banks will let me..... All are doing EXTRAORDINARILY WELL today.... And the recovery has BARELY started.

    Beware of hyperinflation coming late next year, though....will nip this recovery in the bud.... but there's good money to made from that, too!!!
     
  8. Zoomie1980
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    Zoomie1980 Senior Member

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  9. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    I disagree that we're in the recovery, I think we've got a long time to go.
     
  10. neurosport
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    neurosport BANNED

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    i think by "recovery" he means that stocks are going up

    never mind the fact that its only because we've printed trillions of dollars

    in other words by "recovery" he means that we are pumping air into the bubble faster than the air is leaking out of it

    however he acknowledges that at the rate we're pumping by next year the air itself is going to disintegrate !

    so his prognosis is we will keep "recovering" for about a year and he will make a lot of money except that when he comes to walmart he won't be able to buy toilet paper with the millions he made on stocks

    recovery will be complete when there are bands of people with machetes roaming the streets
     
    Last edited: Mar 27, 2009

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