Friday, October 10, 2008

Ron Paul, Hyperinflationary Depresssion, and the new New Deal

If Ron Paul were to step back up to the plate, he would probably hit a home run.

In the presidential race we have two complete economic idiots at the helm.  The third party contenders have no pull, no personality, and bad ideas.  What we need is a rational, secular, freedom loving patriot running our country again.  If Ron Paul decided today to run again as a third party candidate, he would likely get at least 20% of the vote; enough to skew the results and bring his message of liberty back to the forefront of American politics.

In the meantime we deal with the most massive financial crisis in the last 80 years.  What happens next may be a hyper-inflationary depression.  The government, in an effort to stave off default, will print huge sums of money via the Federal Reserve.  "Rooseveltian" New Deal like policies enacted by President Obama will create even larger deficits failing to stimulate the economy.  Prices will soar, people will be out of jobs, and nobody will be able to retire.  

I hope that rationality will prevail and that substantive changes toward a freer society are made.  Unfortunately, I am not optimistic on that front.

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