Ron Paul calls out the Plunge Protection Team on CNBC. I don’t think I’ve ever heard it mentioned on financial television. Seriously anyway.
And boy is he right. There is an assumption that the Fed will never let stocks (and other assets) revert to real levels.
The thing is the Fed for all its power is still subject to the laws of thermodynamics, just like the rest of us. That is, even the mighty central bank will feel the sting of its hubris.
Of course so will the rest of the planet. Which let me tell you is a real bummer.
Ron Paul has long been ahead of the curve. He anticipated the 2008 financial crisis. His “Ron Paul Revolution” was the seed which grew into the robust and mainstream libertarian tendency within the GOP we see today. And he was right on Iraq—it was a mistake of colossal proportions.
But while Ron Paul was predicting a Fed created economic catastrophe and outlining why it was that invading Iraq was wrong and indeed anathema to what America was supposed to stand for, the GOP was fully engaged in disavowing the spirit of Ronald Reagan (spirit) and embracing a big government philosophy.
The Bush years were years of big government “conservatism.” The neocon coup.
Iraq in many ways is what broke the modern—William F. Buckley, Jack Kemp, Ronald Reagan—conservative movement. Bush blew it up just like so many bridges across the Tigris.
Please forgive the vulgarity of the above headline, but this story is just great.
It didn’t happen on the Floor, but in email form.
I will say that Senator Leyonhjelm is now probably the most famous Australian Senator in the world. He is for sure in the States.
We could have told you that 3 years ago. Oh wait, we did.
By Ron Paul
If Americans were honest with themselves they would acknowledge that the Republic is no more. We now live in a police state. If we do not recognize and resist this development, freedom and prosperity for all Americans will continue to deteriorate. All liberties in America today are under siege.
It didn’t happen overnight. It took many years of neglect for our liberties to be given away so casually for a promise of security from the politicians. The tragic part is that the more security was promised — physical and economic — the less liberty was protected.
With cradle-to-grave welfare protecting all citizens from any mistakes and a perpetual global war on terrorism, which a majority of Americans were convinced was absolutely necessary for our survival, our security and prosperity has been sacrificed.
It was all based on lies and ignorance. Many came to believe that their best interests were served by giving up a little freedom now and then to gain a better life.
They still only pick candidates from the 2 “main” parties though. If that ever changes the country will change. Until then…
There is no reason why government workers, whose salaries are paid via the taxation of the citizenry, should on average make more than their private sector brethren. Government workers typically have jobs for life. That bubble of consistency is how government workers are supposed to be compensated. The rest of us can get fired at any time, but we get paid a little more for this uncertainty. At least that’s how it used to work.
Veroniqe de Rugy in the attached article observes that progressives, for the most part are not enemies of corporatism. In fact to a large degree they are enablers of corporatism. With the expansion of the state comes the expansion of corporate power. And “progressives” it seems are always for expanding the state. As noted in a recent post it is terribly frustrating that progressives don’t see what they are doing. If they do they have no business saying they stand for anything like “progress.”
With each new government endeavor, with each new effort at social engineering, there is a new source of revenue for somebody. Sometimes it’s the corporations. Sometimes it’s the unions, Sometimes it’s players within the government itself. Sometimes it’s interest groups of other sorts. The aggregation of taxpayer dollars is like carrion on the plain, the jackals will always come.
In many respects I consider modern American “progressives” to be similar to progressives of another place and era, think Italy pre-World War 2. I dare say that many of the scarf and tattoo sleeve set would have happily fallen in line behind that pioneer of crony capitalism, Mussolini.
Kudos to Phillip Bump at the Washington Post for this one.
We at ACC often talk about the fracturing going on within the 2 main parties. The Tea Party for instance is a de facto party within the GOP which the author takes into account. He also identifies an increasingly active fault line within the Democratic Party. (We think he’s wrong on who falls on which side of this line to some degree however.)
A thought experiment to be sure, but one which isn’t that “out there.” Very interesting.
(From The Washington Post)
If we assign members of Congress to political parties based on the spending votes, we end up with four parties. The Liberals bucked the Democratic president to oppose the spending package. The Democratsvoted for it. The Republicans followed Boehner and McConnell’s lead. TheConservatives didn’t. It gives us maps of the House and Senate that look like this, with the actual party composition underneath. (Note that this is only based on 1) people who voted on the spending package and 2) are returning to the 114th Congress.)
Click here for the article.
By Ron Paul
The political class breathed a sigh of relief Saturday when the US Senate averted a government shutdown by passing the $1.1 trillion omnibus spending bill. This year’s omnibus resembles omnibuses of Christmas past in that it was drafted in secret, was full of special interest deals and disguised spending increases, and was voted on before most members could read it.
The debate over the omnibus may have made for entertaining political theater, but the outcome was never in doubt. Most House and Senate members are so terrified of another government shutdown that they would rather vote for a 1,774-page bill they have not read than risk even a one or two-day government shutdown.
Those who voted for the omnibus to avoid a shutdown fail to grasp that the consequences of blindly expanding government are far worse than the consequences of a temporary government shutdown. A short or even long-term government shutdown is a small price to pay to avoid an economic calamity caused by Congress’ failure to reduce spending and debt.
“It’s a big CLUB. And YOU AIN’T IN IT. You and I are NOT IN the big club. By the way, it’s the same big club they use to beat you over the head with all day long when they tell you what to believe. All day long, beating you over the head in their media telling you what to believe — what to think — and what to buy”. – George Carlin
Please, let’s make 2016 another Bush/Clinton race.