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Monday, December 01, 2008

Ron Paul: The Neo-Alchemy of the Federal Reserve

Here's an excerpt from Republican Congressman Ron Paul's latest column:

“As the printing presses for the bailouts run at full speed, those in power are no longer even pretending that the new giveaways will fix our problems.  Now that we are used to rewarding failure with taxpayer-funded bailouts, we are being told that this is 'just a start,' more funds will inevitably be needed for more industries, and that things would be much worse had we done nothing.”

Click here to read the full article here.

The Western Standard reported last week that the amount spent so far on the US financial bailout has exceeded all the major historic government expenditures combined, including WWII, the Marshall Plan and the invasion of Iraq.

You can read "US bailouts now more than all major historic government expenditures combined, including WWII. Is inflation far behind?" here.

Posted by Matthew Johnston on December 1, 2008 in Current Affairs | Permalink

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Comments

The idea that the governments can "spend" their way out of this depression is so ridiculous that it must be a deliberate sabotage of the economy.
How else could it be explained?
Like the last great depression, the governments and banks will eventually come out with more power and wealth than they had going in...
So I guess it suits the pattern.

Posted by: JC | 2008-12-01 6:53:27 PM



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