Tonight, Dr. Paul will be interviewed on Fox Business' America's Nightly Scoreboard with David Asman in the 7 pm eastern hour. He will be discussing the size and scope of government.
Update: Congressman Paul will also be interviewed by Dylan Ratigan on MSNBC at 10:00 am eastern tomorrow about Audit the Fed.
I can't help but get a little bit sentimental when I hear him talk. Not really in this clip but when I watch his answers during the '08 presidential debates. He is a good man and he has done a lot.
Government is so absurd. Ron Paul mentions the Blue Dog Democrats' objections to PelosiCare in this video. He says they complain because taxes will go up...Of course taxes will go up! How is the government going to get involved in health care without raising taxes? It's ludicrous to even bring it up. I don't see how Dr. Paul handles being in Congress. I think it would drive me crazy.
How about the option for the government to leave us alone? When will that be presented to the American people? I think that's something I could vote for.
Fox Business seems so much fairer towards Ron Paul than regular Fox News. Neil Cavuto and David Asman have really been respectful of Paul and not hesitant to agree with him.
In my opinion, the best Asman interview was when they went over the gold-standard last January. I think it woke up a lot of people.:
http://www.youtube.com/watch?v=nHPSmslIOfc
Posted 11/05/09 07:24 AM mysticgeek Pelican Rapids, MN
This was a great interview by Dr. Paul because.. well he speaks the truth. one thing I noticed though is how David Asman was directing the interview as how great it was some of the Democrats lost, and Ron would was basically saying it's the Republicans fault too for the past 8 years and Asman would not follow up on that... he just glossed it over really. Then he would bring up another leading question about how the dems loss was great. He definitely wasn't going to ask real questions about The Fed or anything that really matters.
I guess I wasn't expecting anything else from him though...interesting is all I have to say. They love Ron now because the neo-cons hate Obama... but I doubt anything will really change.
Also, the HR-1207 gutting still pisses me off ... how typical, they will water it down and pass some worthless bill and still take credit for how they were "tough" against The Fed...man 534 of the members need to GO.
God bless and keep Dr. Paul, the Champion of the Constitution!
H.Res. 272, sponsored by Doug Lamborn (R-CO 5), will require that any measure increasing the statutory public debt limit be a stand alone measure and, very importantly, be subject to a recorded vote. The bill seems short, succinct, and sorely needed.
The public debt ceiling is voted "up" frequently in Congress. I would like this to STOP. If it doesn't, I want to know who to blame for the increases. It is very difficult at this point to ferret out how a given member of Congress votes on these increases.
Recently I read (in the National Review) that the external debt of our country (what we owe to foreign interests publicly and privately), as a percent of GNP, exceeds that of ALL defaulting countries save Egypt and Jordan, including the average of all defaulting Latin American countries, since 1970. It makes me physically ill to know this.
H.Res. 272 has 21 co-sponsors, excluding at the moment Dr. Paul, and apparently has not seen action since being referred to the House Committee on Rules 3/19/09.
Great interview. I noticed Dr. Paul did address David Asmus by his first name. In most interviews, he doesn't say their name, so I think that's a good thing. Mr. Asmus allowed Dr. Paul without interrupting him. Loved the interview.
I am suspicious of the argument that claims monetary policy is the major cause of malinvestment. For this argument to be true, we must assume that individuals are so naive that they make investment decisions without considering the future of interest rates (and in turn, house prices, consumer good prices etc...), did everyone honestly believe that house prices could continue to climb at the rate they were going. My theory, is that people knew what was going to happen, they just didn't care enough to protect themselves and now they cry foul because they were burned. If that's the case then I hold the blame for their woes solely on them. They're are plenty of investment opportunities in any type of market or economic situation one might find themselves in. While government policy might deter one type of investment (i.e bonds) they also open an opportunity (i.e gold). Personally I have a higher regard for human intelligence, and tend not to legitimize the states attempt to influence the economy, because in the end, they can't force us to make financial decisions that are against our best interests.
Think about it this way. If monetary policy sets interest rates below the market, people and businesses are induced to borrow and spend. Forget about what rates will do in the future, the borrowing decision is made based on the cost of capital at that point in time. People and Businesses will look at the costs of capital at these below market rates and make a different decision than if the rates were higher, at market.
A simple example is that people bought homes in the early 2000's when the interest rates were low because their monthly payments were low and the homes became affordable, if the market had set interest rates in 2001 they would have been much higher and the homes would not have been affordable and the housing market bubble would not have been inflated. Now this is oversimplified, and there are many more reasons, but the main culprit of the bubble is loose monetary policy and it is responsible fot the cluster of errors.
Posted 11/05/09 3:54 PM ctredennick Santa Clara, CA
That MSNBC interview was spectacular. I can't believe that guy actually knew what he was talking about.
That's kind of like blaming Jack Daniels for your hangover when you drank more because it was half off.
I just think it's ironic that RP believes people should be held responsible for their actions when it comes to things like drugs, prostitution, gambling etc... But when it comes to individuals making financial decisions it's somehow not their fault, but rather the fault of monetary policy? Before anyone buys a house, one should consider what the market is likely to due in the future. Granted it might take a little more will power when considering turning down the cheap credit you have just been offered, but I have a high regard for human intelligence. Those that choose to ignore what's obvious (I.E, say to themselves, "gee this house is worth 400% more then it was last year, is that really sustainable?") Or ("gee, interest rates are at 0%, that can't possibly last") doesn't deserve to be bailed out by the defense that it's not their fault, but rather the fault of monetary policy.
Every individual has the responsibility to weigh both the explicit and implicit costs of their decisions. I.E an explicit cost of drinking is the cash to pay for the cheap boos, the implicit cost is that I'm going to feel like crap tomorrow.
"I just think it's ironic that RP believes people should be held responsible for their actions when it comes to things like drugs, prostitution, gambling etc... But when it comes to individuals making financial decisions it's somehow not their fault, but rather the fault of monetary policy?"
Ron Paul doesnt think this at all. He thinks people should be held accoutable for their finacial decisions. People that buy to much house and cant pay for it, Should go bankrupt, a buisness that doesn't make profit, should go bankrupt.
Ron Paul was against the bailouts, Ron Paul is against propping up the house bubble, Ron Paul believe that freedom comes with a responsibility to make your own choices, and if those turn out to be bad choices, then you face your own risk and you have no one to blam but yourself and its no ones responsibilty to pay for your mistakes.
Posted 11/05/09 5:32 PM BruceKoerber Cedar Rapids, IA
http://undoingsocialism.blogspot.com/
Thursday, November 5, 2009
Ron Paul Says Washington, D.C. Is Run By Keynesians.
It is refreshing to watch a news interview that does not start with the assumption that the contemporary American political system is beneficial. Ron Paul addressed this exactly when he said that those in Washington, D.C. are Keynesians now with socialistic leanings. There is nothing beneficial or ethical about Keynesianism or socialism.
This interview allows the viewer to question what are obviously corrupt actions taken by the politicians. In contrast, Ron Paul speaks boldly and honestly about the financial condition of our nation and the ridiculous directions being taken by those benefitting from the corruption.
If the news media could free itself from the fetters of the unConstitutional coup then the freedom of press would regain its righteousness.
I think you make some good points, BUT you would find the Austrian argument is in agreement with what you have said. Those who make the foolish decisions must be allowed to suffer the consequences, thus eliminating the moral hazard, and allowing the market to run freely. The FED and government interfere HERE too! They won't let a proper recession with dropping prices and more business failures to happen. They are propping up prices and bailing out buddies.
Notice how the business failures are indeed happening despite their interference. The correction has to happen before the economy gets back on track. If it takes off on easy money, it will explode into another bubble and collapse yet again. Many say we are in the midst of various bubbles right now, like a dollar carry trade bubble, or Treasuries bubble, etc.
PS: Inflationary monetary policy is at the core of the problem because it allows the creation of credit that is not backed by real savings. In a proper free market low interest rates are a signal to businesses involved in long term projects that there is pent up demand for the bigger ticket purchases. Thus the housing market takes off (and other markets). Couple this with a government regulating in favor of homes for everyone, you have part of our problem today. Decoupling the interest rate (price for loans) from the free market is the core problem.
(SO given these facts, how is it possible the FED is "independent" when rates happily were lowered while the government insisted on making homes more widely available.)
Let's see if this works; beginning tomorrow there is no more money. There are people engaged in the stuff of life and in production. There are people engaged in nothing and are non-producers - but they have the law on their side and the guns.
You raise turnips; and every Friday an olive drab truck comes by and takes away some of your turnips. The money deception is gone and the producers readily see what is happening. The workers on your farm are paid in turnips which they use to barter for other goods. If the truck takes too many turnips you can't pay your workers and it isn't long before you quit growing the turnips. Soon, no one eats turnips; (not that I ever did).
That will be the end game for socialism as the non-productive sector of our economy grows out of all proportion to the productive sector.
Buy whiskey and soap while the FRN's are still accepted.
Lets not use analogies, they are often false. For example in your analogy the hangover is caused by the alcohol content not the cost, the housing bubble was inflated because of the cost of capital, not because there was something inherently poisonous about homes. To your second point I am mostly in agreement with you. No where in my response did I say we need to bail out those that made the mistakes. The malinvestment needs to be cleared through allowing those who made the errors to fail. If we want true reform of our finacial system we need to get to the root cause of the problem. The central planning and the monetary policy are the root cause. Instead what we are getting is more of the same easy money policy, which is recreating the problem all over again. Unfortunatly it will be the dollar that pops this time.
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