Dr. Paul and his dire warnings have been ignored and/or ridiculed for years, but the media is finally paying attention. Pulling no punches, Congressman Ron Paul lays out the truth for Glenn Beck and Wolf Blitzer- how we got to this point, and some simple, though politically incorrect, solutions. Most disturbing is the realization that the bailouts have been orchestrated without express permission from Congress, the only governing body with the Constitutional authority to allocate money. Will this financial crisis cause America to finally wake up? Are we truly prepared for the consequences we face for being asleep at the wheel? It’s easy to point fingers at our elected leaders, who appointed the culprits responsible for this disaster; but the fault and the fall-out will ultimately be owned by the voters who put those politicians in office in the first place.
We all know that the Federal Reserve over-pumped credit in the first five years of this decade and how it resulted in an asset bubble in real-estate, especially the residential and second home markets. Now home prices have dropped nearly 20% in the last three years, 9% of all mortgages are in foreclosure or are late, and the Treasury department’s “solution” is to socialize the loss by bailing out the most reckless market participants.
For over a century one of the fundamental discussions about public policy has been redistribution of wealth, whether it be in regards to its ethics or practicality. But - the overlooked side of the redistribution of wealth is the redistribution of debt. Nearly every problem imaginable created by the redistribution of debt is a factor worse compared to the problems created by a similarly sized redistribution of wealth. The unfortunate thing is, while the redistribution of debt (and risk) is often not politically popular, when a powerful sector (or company) needs a bailout, it is very likely to occur.
If we condemn the redistribution of wealth, we should equally condemn the redistribution of debt through government sponsored means. It’s time liberty lovers unite to stop federal bailouts of speculators and corporations.
Many of us reading liberty oriented political blogs know, at least vaguely, about the crushing size of current debt and future unfunded liabilities, but the problem unfortunately, is that most Americans are less aware about the scale and consequences, let alone necessary solutions. The producers of I.O.U.S.A. seem to believe they can play a part in the solution by bringing what politicos and economists have known for years to the public’s attention.
The Barr Campaign has just released a new video entitled ‘The Time for Liberty’. It illustrates very beautifully what our country is up against, and how our freedoms have been encroached upon for over 50 years. It has been talked about for many years, but now is the Time for Liberty. Spread this video where you can.
My fiance and I save our money diligently, and because we live in California, we have opted to not buy a house until we are very ready. “Ready” meaning we have close to 1/3rd of the cash on hand to help us get a low monthly payment that will last throughout the mortgage.
There are millions of people who make the choice to rent throughout America, a safe choice where they can minimize their financial risk and leverage a certain portion of constant savings to make an eventual investment they can be proud of, and secure in.
These hard working, financially responsible American’s are now being told they went about it the wrong way. The Nanny State is here to bail you out.