Ron Paul Would Fix the Economy

[Arkie]

I hate to say I told you so, but it's always been common sense to me. Spending more than you have is unsustainable, but some folks think it's just magic.

"You can take care of people, but never with a deficit, never by expanding the spending," Ron Paul says. "The more we do to interfere with the correction - the longer it lasts."

While admitting a transition to what he views an "ideal society" won't be quick or simple, Paul's economic prescription includes:


Allowing bankruptcies to occur vs. rewarding failure with bailouts.
Stop inflation by dismantling the Fed and returning to the gold standard.
Encourage savings and liquidate debt.
Deregulate.
Give tax credits to those who take care of themselves, or the doctors who provide their care.
Cut government spending, especially on international endeavors. "We spend hundreds of billions of maintaining our empire around the world. Let's bring that money home," he says.
These recommendations will be familiar to anyone who followed (or supported) Paul's run for the Presidency in 2008. Given all that's transpired in the past year, one suspects he'd be getting a lot more votes if the campaign were happening today.

[elsid13]

You do realize that inflation occurs no matter what, returning to a gold standard would only make it worse

[Rohirrim]

What Ron Paul doesn't mention is that his "correction" would entail ten years of a crushing depression, if not more. Many of his ideas are great (ending the American empire abroad, for instance) but in their entirety, they would collapse this country. I'd also like to see a broader definition of what he means by "deregulate." You mean, like Reagan did for the airlines? That worked great.

[gyldenlove]

I hate to say I told you so, but it's always been common sense to me. Spending more than you have is unsustainable, but some folks think it's just magic.

"You can take care of people, but never with a deficit, never by expanding the spending," Ron Paul says. "The more we do to interfere with the correction - the longer it lasts."

While admitting a transition to what he views an "ideal society" won't be quick or simple, Paul's economic prescription includes:


Allowing bankruptcies to occur vs. rewarding failure with bailouts. (Good idea)
Stop inflation by dismantling the Fed and returning to the gold standard. (Not only is this not possible, a move like this would put the Dollar in the crosshairs for currency speculation)
Encourage savings and liquidate debt. (Liquidating debt by....)
Deregulate. (By all means, let the banks who created the mess get us out of it)
Give tax credits to those who take care of themselves, or the doctors who provide their care. (I don't see how this would help, that is like spitting on a burning oil rig)
Cut government spending, especially on international endeavors. "We spend hundreds of billions of maintaining our empire around the world. Let's bring that money home," he says. (Most of the money being spend overseas goes directly to the American military and supporting companies)
These recommendations will be familiar to anyone who followed (or supported) Paul's run for the Presidency in 2008. Given all that's transpired in the past year, one suspects he'd be getting a lot more votes if the campaign were happening today.

That list boils down to:

Burning dollar bills to cure inflation, cutting spending on military and letting private companies go bankrupt (increasing unemployment), paying off debt with money that are being burned?

Tying the dollar to gold would also mean that lending would be impossible, how do people buy houses without the option of borrowing money?

[cutthemdown]

there just isn't enough gold.

[Fedaykin]

Paul has some good ideas, but is plan is fatally flawed by his desire to institute Laissez-faire capitalism. He wants to deregulate everything which is insane because it relies on everyone (businesses and individuals) being honest and thinking over the long term -- which simply doesn't happen and never will.

We tried this system in the 1920s. The result? The Great Depression.

[frerottenextelway]

Nothing says an economic fix like returning to the gold standard!

[watermock]

ugg.It's thge spending. we are coming close the the 3.5 trilion in income taxes (in '08) to a 2 tillion dolars deficiet, and that desn't coun the 13 trillion we gave the banks at .25% interest.

[Bob]

You do realize that inflation occurs no matter what, returning to a gold standard would only make it worse

Not hyperinflation...

Ron Paul would not be able to do many of these things, and he would have to fight against an ideologicly tilted media.

[Bob]

ugg.It's thge spending. we are coming close the the 3.5 trilion in income taxes (in '08) to a 2 tillion dolars deficiet, and that desn't coun the 13 trillion we gave the banks at .25% interest.

I would be satisfied with less spending alone...

[footstepsfrom#27]

Ron Paul is not going to be elected President so put the crack pipe away.

[elsid13]

Not hyperinflation...

Ron Paul would not be able to do many of these things, and he would have to fight against an ideologicly tilted media.

Actually more countries experienced hyperinflation when their currency were pegged to something, then any that had floating system like we do.

[Fedaykin]

Not hyperinflation....

You do realize the only time we've experienced hyperinflation we were on the gold standard...

[orinjkrush]

The Greeks experimented with democracies. They (Plato) found out that they are unsustainable: the populace inevitably vote themselves the treasury and go bankrupt. Hence.....Plato's Republic.