Posted by Brad @ 9:58 pm on January 27th 2009

Ron Paul vs. Everyone

Paul was on Morning Joe today, and they threw apparantly everyone they had in the studio at him in the course of 10 minutes. Clearly, the answer that we can’t necessarily solve the current financial crisis isn’t one anybody wants to hear.

2 Comments »

  1. The monster risk of the stimulus package is inflation. We’re already at a point where the money supply has been jacked up beyond any semblence of historical proportion. We have been extremely fortunate in that the recession has been accompanied by a trough in energy prices, but that isn’t going to last forever. Needless to say, dumping $1.2 trillion in public money into the market isn’t going to make that picture any rosier.

    One thing that even Paul’s critics must surely grant him is that he takes the long view. At the moment, virtually the entirety of the mainstream press and the political establishment is unified behind the idea that we have to end the recession no matter what it takes. Paul is one of the few people looking to the underlying trends and the consequences of precipitous action.

    Comment by Rojas — 1/28/2009 @ 11:17 am

  2. Watching that clip was like watching someone try to explain physics to a 3 year old. The problem is clearly structural, yet people want a quick fix to everything. Paul says there isn’t one & gets treated like a martian, no surprise there.

    I would’ve appreciated it though if Paul pointed out when prompted about regulations that corporate status itself is a regulation, & that the financial sector has operated with an implicit taxpayer-funded safety net all this time. Trying to artificially limit the fallout from risk encourages that more risk is taken, it’s called “Moral Hazard” & the mainstream pundits may want to look it up.

    Comment by b-psycho — 1/29/2009 @ 5:41 pm

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