To play advocate of the Devil here despite Paul's compelling statements and dito style there are plenty of people on ET and elsewhere who are of the opinion the school of Austrian economics upon which he bases his primary views is just as flawed then Bernanke's Zimbabwe school of economics. I guess time will tell which one of both is flawed most.
At least Dr. Paul cites actual numbers in his modeling, and not fantasy. That's always a good start to reach an accurate conclusion.
The main idea probably is to debase the currency to make produced goods more atractive for foreigners. The flaw in this seems to me what if the rest of the world aims for the same route to kickstart their economy. Beggar thy neighbour? Also it seems to be a bit narrowminded in my view to believe only the currency value is determined as a way to achieve economic (productivity driven) prosperity. There must be more.
He usually does. Very subtly. He also shifts around in his seat, his eyes and mind wanders. It's clear he doesn't think Ron Paul is worth his time. Although, any time a congressman talks about taxing the rich, increasing regulation or giving the Fed more power, Bernanke nearly orgasms. It would be funny if their games didn't effect me.
While it occured before the onset of Austrian economics, the response to the 1920-1921 depression was mostly hands-off and Austrian-like. There was a very short, sharp downturn, but the recovery (which didn't include a hyperactive Fed, stimulus plans, tax increases, etc.) was equally strong.
"The Creature from Jekyll Island" should be read by every American. Hopefully this book won't be taken off Kindle like the book "1984".
This guy is so far removed from political (not economic) reality that it's not even funny. Ron Paul's best chance of ever running an economy would be to instigate a military coup in South America and establish his dream economy with the gold standard and no central bank. More realistic than ever achieving that in the US.
That's because he advocates supporting the Constitution rather than the current lying, thieving, self-serving government ways we are forced to endure today. So.. you HATE the US Constitution and endorse the BS going on today?
I endorse looking after my own good and not worrying too much what politicians and governments say or do. If I dont like it someplace then I simply move to another country. Trading makes one pretty much independent of jurisdictions. A lot of American crybabies on ET could simply give back their US passport and leave the country. Why are they not if things are so terrible? My bet is things arent as bad (yet), just people love to complain about the hardships of life instead of taking their life and destiny into their own hands. Much easier to stay where you are and blame Bernanke, Obama and Geithner rather than packing up your stuff and setup shop in Singapore/Monte Carlo/Switzerland/Caribbean/Cost Rica.