Ron Paul: "Successful Economic Policies? For Whom?"

[johnrocks]

. Manipulating Interest Rates Ron Paul Speech to Congress, May 15, 2000
Greenspan Nominated to a Fourth Term. How Long Can "Business as Usual" Last? Ron Paul Newsletter, January 17, 2000
Conduct of Monetary Policy July 22, 1999
Ron Paul, Conduct of Monetary Policy | Ron Paul Library
Deceptive economic euphoria Ron Paul Newsletter, August 17, 1998
Monetary Inflation is the Problem Ron Paul Newsletter, December 4, 2006


He was trying to tell those idiots years ago about the very crisis we're having now and for that....he get's cursed.

 

[johnrocks]

Why play tit for tat? What's Paul's point about the Fed and Tarp? Does he want to become the first modern country to revert to the gold standard? Put down your little Ayn Rand Red Book, and tell us exactly why Bush should not have done TARP? Instead of listening to this dogmatic libertarian's feel good nonsense, I'd prefer using both common sense and listening to some of our best economists have to say about what would have happened had TARP not been passed.

So Bush told us that the fundamentals of our economic system was stable, just before the bottom fell out. Yeah, it was a lie. But compare that lie to the lie Paul is telling, ie the inference that we should have done nothing, and it's like comparing asking a two year old telling you they didn't eat that last cookie to Goebbels manufacturing the lies that led to the Final Solution.

Yeah, the ones who favored having artificially low interest rates and credit to all gets a pass yet the one who warned of this clusterfuck years ago gets called every name in the book, the Keynesian s and Monetarists owns this economy and all it's warts, not Austrians like Dr. Paul.


Bush and the others who contributed to the inflating bubbles as well as the Federal Reserve and those before Bush contributed , it was like taking chocolate yoo hoo's and peanut buttercups to a kindergarten class and then blaming the 5 year olds for having the sugar rush and then calling the nutritionist a dumbass for having warned the teacher not to do it in the first place!

The malinvestments needs to be allowed to burn off, trying to keep this crap inflated is a fool's game, like a kid trying to pump a flat tire with a gaping hole in it.

I don't disagree that Bush played a significant roll in causing the bubble, but that's irrelevant to the issue of what would have happened had TARP not been passed, and the market left on its own. It would have resulted in a full scale economic collapse.

Not just Bush but the entire wrecking crew;Democrats included as well as the Federal Reserve; contributed, to state less is being a partisan hack and letting things fall, well, it's going to happen or we'll keep ceding more power to government and then it still is going to happen, centralized planning got us into this clusterfuck and it will not be what gets us out, market forces will though.

 

[johnrocks]

Just look at which corporations and banks especially,were bailed out. They were all Wall Street Corporate Fat Cats. No small banks were bailed out by the Government. They were allowed or forced to die. That should tell everyone what this Socialist nightmare is all about. It is very sad.

Who should Bush have bailed out?

No one.

 

[william the wie]

What I find bizarre is the idea that we cannot save our way to expansion. What about:

Singapore
Chile
China
Japan after WWII
Germany after WWII vs. the UK and Italy after WWII with their much lower savings rates.

Savings = investment. Economic growth = growth in working population (4 year lag) x net investment. So savings do cause expansions.

 

[LibocalypseNow]

Corporate Bankers have now consolidated all the power thanks to our Government. The small banks have been completely wiped out. They were not bailed out by our Government. Our Government simply did what the large corporate Banks have wanted to do for years,which is to consolidate all the power. The corporate Bankers are now more powerful than ever before. Now that's a real success story alright. For them anyway.

 

[uscitizen]

Paul Pumps out some great rhetoric and accurate in some respects.
It does not stand up well to close scrutinity though.

 

[kwc57]

Just look at which corporations and banks especially,were bailed out. They were all Wall Street Corporate Fat Cats. No small banks were bailed out by the Government. They were allowed or forced to die. That should tell everyone what this Socialist nightmare is all about. It is very sad.

Who should Bush have bailed out?

Whoever the constitution gave him the power to bail out. Any clues?

 

[LordBrownTrout]

I would have let them fail. Yeah, we would have gone through a depression but we would have dealt with it and become stronger. Now, we have prolonged the horror that will eventually come and it will be exponentially worse because of the trillions wasted on all of these "emergencies".

 

[johnrocks]

Paul Pumps out some great rhetoric and accurate in some respects.
It does not stand up well to close scrutinity though.

Austrian economics did for most of our economic history until Keynesian economics came along.

It's the only one that makes any sense,imho. While others over supply side or demand side, it's the only one that acknowledges that it takes both.

 

[uscitizen]

Paul Pumps out some great rhetoric and accurate in some respects.
It does not stand up well to close scrutinity though.

Austrian economics did for most of our economic history until Keynesian economics came along.

It's the only one that makes any sense,imho. While others over supply side or demand side, it's the only one that acknowledges that it takes both.

Yep it takes more than "both" sides, usually anyway.

 

[MarcATL]

RepubliCON$ and the RightWing are such FOOLS.

They believe in letting business go buck wild, allowing them to grow and grow and becoming a more and increasing part of the society and financial system, then when the turd droppings hit the fan you have lunatics such as Rand Paul who says to "just leave it alone."

What a bunch of damn FOOL$!!

 

[johnrocks]

It damn sure takes more than just one side, government intervention, supply siders and Keynesians have ruled for generations, can't lay the blame of ANY of this mess at the Austrian's feet.

 

[Dick Tuck]

Yeah, the ones who favored having artificially low interest rates and credit to all gets a pass yet the one who warned of this clusterfuck years ago gets called every name in the book, the Keynesian s and Monetarists owns this economy and all it's warts, not Austrians like Dr. Paul.


Bush and the others who contributed to the inflating bubbles as well as the Federal Reserve and those before Bush contributed , it was like taking chocolate yoo hoo's and peanut buttercups to a kindergarten class and then blaming the 5 year olds for having the sugar rush and then calling the nutritionist a dumbass for having warned the teacher not to do it in the first place!

The malinvestments needs to be allowed to burn off, trying to keep this crap inflated is a fool's game, like a kid trying to pump a flat tire with a gaping hole in it.

I don't disagree that Bush played a significant roll in causing the bubble, but that's irrelevant to the issue of what would have happened had TARP not been passed, and the market left on its own. It would have resulted in a full scale economic collapse.

Not just Bush but the entire wrecking crew;Democrats included as well as the Federal Reserve; contributed, to state less is being a partisan hack and letting things fall, well, it's going to happen or we'll keep ceding more power to government and then it still is going to happen, centralized planning got us into this clusterfuck and it will not be what gets us out, market forces will though.

So you support Paul's nihilistic view that we should have let our economy collapse?

 

[johnrocks]

RepubliCON$ and the RightWing are such FOOLS.

They believe in letting business go buck wild, allowing them to grow and grow and becoming a more and increasing part of the society and financial system, then when the turd droppings hit the fan you have lunatics such as Rand Paul who says to "just leave it alone."

What a bunch of damn FOOL$!!

What about the ones who support letting government grow buck wild and when the turd droppings hit the floor the fools demand what...more fucking government.

 

[johnrocks]

I don't disagree that Bush played a significant roll in causing the bubble, but that's irrelevant to the issue of what would have happened had TARP not been passed, and the market left on its own. It would have resulted in a full scale economic collapse.

Not just Bush but the entire wrecking crew;Democrats included as well as the Federal Reserve; contributed, to state less is being a partisan hack and letting things fall, well, it's going to happen or we'll keep ceding more power to government and then it still is going to happen, centralized planning got us into this clusterfuck and it will not be what gets us out, market forces will though.

So you support Paul's nihilistic view that we should have let our economy collapse?

Yes I do, it's like a wildfire, it sucks to be the undergrowth but it has to be burned off or even more damage will occur. Government intervention and the established views brought us the bubbles, more government is failing to help yet the excuse is....not enough was spent.

 

[Dick Tuck]

Just look at which corporations and banks especially,were bailed out. They were all Wall Street Corporate Fat Cats. No small banks were bailed out by the Government. They were allowed or forced to die. That should tell everyone what this Socialist nightmare is all about. It is very sad.

Who should Bush have bailed out?

No one.

And what do you think the fallout would have been by allowing our biggest financial institutions default on trillions of dollars, in both accounts and securities?

I'm not happy with many things about how our financial institutions are managed. But I'll be damned if I'd want to see our economy collapse beyond the point it already has, because of some magic belief in the dogma of lassaiz faire.

 

[johnrocks]

Who should Bush have bailed out?

No one.

And what do you think the fallout would have been by allowing our biggest financial institutions default on trillions of dollars, in both accounts and securities?

I'm not happy with many things about how our financial institutions are managed. But I'll be damned if I'd want to see our economy collapse beyond the point it already has, because of some magic belief in the dogma of lassaiz faire.

You seem to not have faith in capitalism yet it is the very government intervention that caused the crisis to begin with, had interest rates been;say; 10% instead of 1%, do you think as many houses would hae been built, you think as much credit would have been made? Blaming things like Derivatives is looking at the symptoms,not the cause.

 

[Dick Tuck]

Not just Bush but the entire wrecking crew;Democrats included as well as the Federal Reserve; contributed, to state less is being a partisan hack and letting things fall, well, it's going to happen or we'll keep ceding more power to government and then it still is going to happen, centralized planning got us into this clusterfuck and it will not be what gets us out, market forces will though.

So you support Paul's nihilistic view that we should have let our economy collapse?

Yes I do, it's like a wildfire, it sucks to be the undergrowth but it has to be burned off or even more damage will occur. Government intervention brought us the bubbles, more government is failing to help yet the excuse is....not enough was spent.

When it all comes down, the root cause that could have prevented the collapse was adequate regulation. We need smarter and efficacious regulation, not none. And we can't sacrifice hundreds of millions of people because someone has a brain fart that their simplistic dogma is the solution to financial instability, and that approach is to do nothing. I'm not buying it, and that mindset, more than anything else, shows why the Libertarian Party is a fringe 2% party.

 

[Dick Tuck]

No one.

And what do you think the fallout would have been by allowing our biggest financial institutions default on trillions of dollars, in both accounts and securities?

I'm not happy with many things about how our financial institutions are managed. But I'll be damned if I'd want to see our economy collapse beyond the point it already has, because of some magic belief in the dogma of lassaiz faire.

You seem to not have faith in capitalism yet it is the very government intervention that caused the crisis to begin with, had interest rates been;say; 10% instead of 1%, do you think as many houses would hae been built, you think as much credit would have been made? Blaming things like Derivatives is looking at the symptoms,not the cause.

No, I don't have faith in unbalanced extremism, whether it be laissez faire or complete socialism. As for your question regarding interest rates, you'll note that a very high number of defaults were the result of balloon loans that seemed too good to pass up, and were manufactured by the corporate sector in the stupid belief that they'd be able to turn a profit, even in the event of a disclosure.

 

[johnrocks]

So you support Paul's nihilistic view that we should have let our economy collapse?

Yes I do, it's like a wildfire, it sucks to be the undergrowth but it has to be burned off or even more damage will occur. Government intervention brought us the bubbles, more government is failing to help yet the excuse is....not enough was spent.

When it all comes down, the root cause that could have prevented the collapse was adequate regulation. We need smarter and efficacious regulation, not none. And we can't sacrifice hundreds of millions of people because someone has a brain fart that their simplistic dogma is the solution to financial instability, and that approach is to do nothing. I'm not buying it, and that mindset, more than anything else, shows why the Libertarian Party is a fringe 2% party.

That is a great talking point until one looks at the Bush era and sees that there were more regulations enacted during his tenure than at anytime since Nixon. One can go to Regulations.Gov and see thousands of regulations that were enacted from how big a hole can be in a slice of Swiss Cheese to regulations on industrial banks.
Regulations.gov
Go to the Federal Register, there are thousands of regulations.
Federal Register: Main Page

I'm a Republican;not in the Libertarian Party; I just don't buy into the bullshit that has been spoonfed to us for the past several generations.