The growth in money and credit has outpaced both savings and economic growth. These inflationary pressures have been concentrated in asset prices, no… - Ron Paul
" "The growth in money and credit has outpaced both savings and economic growth. These inflationary pressures have been concentrated in asset prices, not consumer price inflation--keeping monetary policy too easy. This increase in asset prices has fueled domestic borrowing and spending. Government policy and the increase in securitization are largely responsible for this bubble. In addition to loose monetary policies by the Federal Reserve, government-sponsored enterprises Fannie Mae and Freddie Mac have contributed to the problem. The fourfold increases in their balance sheets from 1997 to 1998 boosted new home borrowings to more than $1.5 trillion in 1998, two-thirds of which were refinances which put an extra $15,000 in the pockets of consumers on average--and reduce risk for individual institutions while increasing risk for the system as a whole.
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About Ron Paul
Ronald Ernest "Ron" Paul (born 20 August 1935) is an American author, activist, physician, and retired politician who served as the U.S. representative for Texas's 22nd congressional district from 1976 to 1977 and again from 1979 to 1985, and then for Texas's 14th congressional district from 1997 to 2013. On three occasions, he sought the presidency of the United States: as the Libertarian Party nominee in 1988 and as a candidate for the Republican Party in 2008 and 2012. A self-described constitutionalist, Paul is a critic of the federal government's fiscal policies, especially the existence of the Federal Reserve and the tax policy, as well as the military–industrial complex, the war on drugs, and the war on terror. He has also been a vocal critic of mass surveillance policies such as the USA PATRIOT Act and the NSA surveillance programs. In 1976, Paul formed the Foundation for Rational Economics and Education (FREE), and in 1985 was named the first chairman of the conservative PAC Citizens for a Sound Economy, both free-market groups focused on limited government. He is the father of Senator Rand Paul.
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Ronald Ernest "Ron" Paul
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Ronald Ernest Paul
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Ronald Paul
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Additional quotes by Ron Paul
You can't save free markets by socialism, I don't know where this idea ever came from. You save free markets by promoting free markets and sound money and balanced budgets. The whole reason why nobody wants to address the real problem is, we're spending a trillion dollars a year overseas running an empire, and it's coming to an end. This country is bankrupt, and we won't admit it. Eventually though, the dollar will go bust, and we will bring our troops home, and we will live within our means, but we ought to do it sensibly, rather than waiting for the collapse of the dollar, and this is what we're doing, we're on the verge of destroying our dollar. And then, you think we have problems now, problems then will be a lot worse, it'd look like the Weimar Republic, or a third world nation. And a lot of people know that, and they're scared to death, but we don't need to be making the problem worse by just propping up everything with more government programs, more inflation, and more helicopters, it won't work.
Our presence will serve as an incentive for al Qaeda to grow in numbers and motivate more suicide bombers. An indefinite presence, whether in Iraq, Afghanistan, or Pakistan, will continue to drain our financial resources, undermine our national defense, demoralize our military and exacerbate our financial crisis. All this will be welcomed by Osama Bin Laden, just as he planned it. It's actually more than he had hoped for. [...] The war in Afghanistan and Pakistan will be much bigger, unless the dollar follows the path of the dollar-based world financial system and collapses into runaway inflation. In this case, the laws of economics and the realities of history will prove superior to the madness of maintaining a world empire financed by scraps of paper. Our military prowess, backed by a nuclear arsenal, will not suffice in overcoming the tragedy of a currency crisis. Soviet nukes did not preserve its empire or the communist economy.
What is seldom discussed in the immigration debate, unfortunately, is the incentives the US government provides for people to enter the United States illegally. As we know well, when the government subsidizes something we get more of it. The government provides a myriad of federal welfare benefits to those who come to the US illegally, including food stamps and free medical care. Is this a way to discourage people from coming to the US illegally? [...] Immigration reform should start with improving our border protection, yet it was reported last week that the federal government has approved the recruitment of 120 of our best trained Border Patrol agents to go to Iraq to train Iraqis how to better defend their borders! This comes at a time when the National Guard troops participating in Operation Jump Start are being removed from border protection duties in Arizona, New Mexico, and Texas and preparing to deploy to Iraq and Afghanistan! It is an outrage and it will result in our borders being more vulnerable to illegal entry, including by terrorists.
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