http://bailoutsleuth.com/

Regardless of what you may think about Mark Cuban, with his blog below, he definitely exhibits an interesting take on things ….

http://blogmaverick.com/

Cheers!

Gary Boomershine´s last blog post..Watch Fascist Collide Moustache-First with Negative Equity and the Foreclosure Train!

http://bailoutsleuth.com/

Regardless of what you may think about Mark Cuban, with his blog below, he definitely exhibits an interesting take on things ….

http://blogmaverick.com/

Cheers!

Gary Boomershine´s last blog post..Watch Fascist Collide Moustache-First with Negative Equity and the Foreclosure Train!

Personally, I hate seeing Ron Paul’s wisdom marginalized.

Although the long-term, big picture scenario posed by Libertarian politics may be impractical on a national scale, Ron Paul seems to be among the vast minority in Congress who has a grip on the economy, or basic economics for that matter. This scares me.

That said, here is a quote from a speech Paul gave on Nov. 20. titled “The Austrians Were Right” Full text of this speech can be found at:
http://www.house.gov/apps/list/speech/tx14_paul/statement_11_20_08.shtml

“…. Today, a major economic crisis is unfolding. New government programs are started daily, and future plans are being made for even more. All are based on the belief that we’re in this mess because free-market capitalism and sound money failed. The obsession is with more spending, bailouts of bad investments, more debt, and further dollar debasement. Many are saying we need an international answer to our problems with the establishment of a world central bank and a single fiat reserve currency. These suggestions are merely more of the same policies that created our mess and are doomed to fail.

At least 90% of the cause for the financial crisis can be laid at the doorstep of the Federal Reserve. It is the manipulation of credit, the money supply, and interest rates that caused the various bubbles to form. Congress added fuel to the fire by various programs and institutions like the Community Reinvestment Act, Fannie Mae and Freddie Mac, FDIC, and HUD mandates, which were all backed up by aggressive court rulings.

The Fed has now doled out close to $2 trillion in subsidized loans to troubled banks and other financial institutions. The Federal Reserve and Treasury constantly brag about the need for “transparency” and “oversight,” but it’s all just talk — they want none of it. They want secrecy while the privileged are rescued at the expense of the middle class.

It is unimaginable that Congress could be so derelict in its duty. It does nothing but condone the arrogance of the Fed in its refusal to tell us where the $2 trillion has gone. All Members of Congress and all Americans should be outraged that conditions could deteriorate to this degree. It’s no wonder that a large and growing number of Americans are now demanding an end to the Fed.

The Federal Reserve created our problem, yet it manages to gain even more power in the socialization of the entire financial system. The whole bailout process this past year was characterized by no oversight, no limits, no concerns, no understanding, and no common sense.

Similar mistakes were made in the 1930s and ushered in the age of the New Deal, the Fair Deal, the Great Society and the supply-siders who convinced conservatives that deficits didn’t really matter after all, since they were anxious to finance a very expensive deficit-financed American empire.

All the programs since the Depression were meant to prevent recessions and depressions. Yet all that was done was to plant the seeds of the greatest financial bubble in all history. Because of this lack of understanding, the stage is now set for massive nationalization of the financial system and quite likely the means of production….”

Gary Boomershine´s last blog post..Watch Fascist Collide Moustache-First with Negative Equity and the Foreclosure Train!

Gary, thanks for passing along the insight. I couldn’t agree more. Looks like we see things similarly, you and I.

…jp

Personally, I hate seeing Ron Paul’s wisdom marginalized.

Although the long-term, big picture scenario posed by Libertarian politics may be impractical on a national scale, Ron Paul seems to be among the vast minority in Congress who has a grip on the economy, or basic economics for that matter. This scares me.

That said, here is a quote from a speech Paul gave on Nov. 20. titled “The Austrians Were Right” Full text of this speech can be found at:
http://www.house.gov/apps/list/speech/tx14_paul/statement_11_20_08.shtml

“…. Today, a major economic crisis is unfolding. New government programs are started daily, and future plans are being made for even more. All are based on the belief that we’re in this mess because free-market capitalism and sound money failed. The obsession is with more spending, bailouts of bad investments, more debt, and further dollar debasement. Many are saying we need an international answer to our problems with the establishment of a world central bank and a single fiat reserve currency. These suggestions are merely more of the same policies that created our mess and are doomed to fail.

At least 90% of the cause for the financial crisis can be laid at the doorstep of the Federal Reserve. It is the manipulation of credit, the money supply, and interest rates that caused the various bubbles to form. Congress added fuel to the fire by various programs and institutions like the Community Reinvestment Act, Fannie Mae and Freddie Mac, FDIC, and HUD mandates, which were all backed up by aggressive court rulings.

The Fed has now doled out close to $2 trillion in subsidized loans to troubled banks and other financial institutions. The Federal Reserve and Treasury constantly brag about the need for “transparency” and “oversight,” but it’s all just talk — they want none of it. They want secrecy while the privileged are rescued at the expense of the middle class.

It is unimaginable that Congress could be so derelict in its duty. It does nothing but condone the arrogance of the Fed in its refusal to tell us where the $2 trillion has gone. All Members of Congress and all Americans should be outraged that conditions could deteriorate to this degree. It’s no wonder that a large and growing number of Americans are now demanding an end to the Fed.

The Federal Reserve created our problem, yet it manages to gain even more power in the socialization of the entire financial system. The whole bailout process this past year was characterized by no oversight, no limits, no concerns, no understanding, and no common sense.

Similar mistakes were made in the 1930s and ushered in the age of the New Deal, the Fair Deal, the Great Society and the supply-siders who convinced conservatives that deficits didn’t really matter after all, since they were anxious to finance a very expensive deficit-financed American empire.

All the programs since the Depression were meant to prevent recessions and depressions. Yet all that was done was to plant the seeds of the greatest financial bubble in all history. Because of this lack of understanding, the stage is now set for massive nationalization of the financial system and quite likely the means of production….”

Gary Boomershine´s last blog post..Watch Fascist Collide Moustache-First with Negative Equity and the Foreclosure Train!
Gary, thanks for passing along the insight. I couldn’t agree more. Looks like we see things similarly, you and I.

…jp