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Monday, November 24, 2008

The bailout surge: Ron Paul

In his latest column, Congressman Ron Paul writes:

This week the bailout of the Big Three automakers was under heavy consideration in Congress’s lame duck session.  I have always opposed government bailouts of private organizations.  Back in 1979 Congress had hearings about bailing out Chrysler and I was on record pointing out that these types of policies are foolish and very damaging to the long term economic health of our country.  They still are.

There was also renewed pressure this week to bailout homeowners and send another round of stimulus checks to “Main Street” to balance out all the handouts to big business.  It seems that eventually the entire economy is going to be blanketed over with Federal Reserve notes.  Most in Washington are completely oblivious as to why this model of money creation and spending is so dangerous.

Read "The bailout surge" here.

Posted by Matthew Johnston on November 24, 2008 in Economic freedom | Permalink


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The really sad thing about this bailoutmania in the USA (of all countries!), is that they have set the stage for an economy that rises and falls on the mere words of some politician in Washington.
In fact it now common for the Dow Jones to rise and fall by 400 to 700 pts a day now, depending entirely on the words of wisdom or rumours of some person. Hardly a situation to foster general confidence and trust in the nations financial system.

We in Canada already know the repercussion of having some backwoods politician making a silly statement in Ottawa and having our dollar sink to 60 cents. The hard work of 15 million workers meant nothing compared to a few words from an ignorant politician.

Nothing much good for the USA will probably come from these bailouts. The headline on todays Drudge says that US federal obligations are now up to $7.4 trillion. But their total economy is only $15 trillion. These desperate bailout politicians have become totally sick and twisted from the stress.

That's why the USA will probably suffer a long and painful recovery.

Posted by: Rocky Thompson | 2008-11-24 11:40:42 AM

The insanity continues...
Today's Globe and Mail headline:
"Recession here,PM ready to open wallet"
(Yeah? Who's wallet?)
"Mr Harper joined other World leaders in conceding governments will have to spend their way out of the crisis..."
(You have got to have rocks for brains to buy into that kind of crap)

Next headline same page:
"Obama plans immediate action to stimulate economy."
(I wonder....does he plan to rub it really fast?)

We are so freakin Doomed!
Unless these idiots back off, that is...

Posted by: JC | 2008-11-24 3:54:15 PM

It does not matter what the government does at this point. I am growing a garden with non GMO seeds. No longer will I buy anything from Monsanto, or any other big company.

The economy is tanking and it is about time. Politicians, government officials(National and State) will be crusified over the next three years. I hope they and their families suffer as they have caused suffering.

The dollar will not help them for the dollar and the international community is going to suffer.

My advice is GUNS and Gold.

Posted by: Charles | 2008-11-25 4:26:09 PM

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