Ron Paul DOMINATES On Squawk Box: "Markets Are More Powerful Than Governments" (WATCH)
Video: Ron Paul on CNBC's Squawk Box discussing the global debt crisis, fiscal responsibility, and the failure of the Federal Reserve System -- May 17, 2010
Awesome clip from Monday morning. A similar message was expressed by Jim Rogers earlier in the week. Really, it's all about debt.
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Summary from Greg White:
1:10 -- System that replaced Bretton Woods has failed and it is unwinding.
1:50 -- The problems of Greece will come to the U.S. because the debt stream has been endless
2:30 -- There is no way to grow out of this debt, can't politically cut the spending, can cut taxes, but growth will not be enough.
3:10 -- Have not allowed the liquidation of debt, and artificial stimulus has propped multiple industries up.
6:00 -- History books will question how we allowed so many decisions to be made behind closed doors in our time.
10:00 -- I bought gold in 1971, knowing that paper would lose its value, and now its come to be and a lot of people are jumping on board
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DailyBail
Updated with time stamps and quotes.
Reader Comments (13)
First thing we do, let's kill all the short sellers.
http://online.wsj.com/article/SB10001424052748703691804575253994183448372.html?mod=WSJ_newsreel_opinion
Analysts expect improvement soon, but the number of homeowners in default or at risk of foreclosure will have a lingering effect on the broader economy.
More than 10 percent of homeowners with a mortgage had missed at least one payment in the January-March period, the Mortgage Bankers Association said Wednesday. That's a record high and up from 9.1 percent a year ago.
A big jump in the number of borrowers who have missed three months of mortgage payments drove the increase.
One encouraging sign is the number of homeowners just starting to show trouble is trending downward. As of March, nearly 3.5 percent of borrowers had missed one month of mortgage payments, down from about 3.8 percent a year earlier.
http://finance.yahoo.com/news/Mortgage-delinquencies-apf-3683370452.html?x=0&.v=6
http://cedarcomm.com/~stevelm1/usdebt.htm
Go party herd animals! Unite in your collective slavery and rejoice! You have brought it to yourselves, now revel in it...
Padded Pensions Add to New York Fiscal Woes
By MARY WILLIAMS WALSH and AMY SCHOENFELD
In Yonkers, more than 100 retired police officers and firefighters are collecting pensions greater than their pay when they were working. One of the youngest, Hugo Tassone, retired at 44 with a base pay of about $74,000 a year. His pension is now $101,333 a year.
http://www.nytimes.com/2010/05/21/business/economy/21pension.html
When you think of me old man, think of this clip.
Meaning many politicians have gone along with this multiplier for many years of contract negotiations from both parties. Blame them, not the firefighter who risked his life every day to keep you alive.
The system is broken, not the workers. Ever notice how the more educated people believe they are, the more screwed up they really are? Lets use turbo Timmy and compadre's as a example, I have a theory on this, I believe that as their heads swell with their own perception of self worth, they forget to loosen their ties. Thus I believe they suffer from the effects of oxygen depravation.
It is either that or they are rewarded handsomely for their service to someone else...
Though I am somewhat mildly educated myself, I am not filled with the notions of self perceived worth, as you appear to be. I would be much happier simply being left alone to toil the earth, which brings me happiness. But unfortunately as I have two young grand children who do not deserve YOUR generational rape that is thrust upon them by generations of cumulative effects of party herdism, I must call BULLSHIT to the herdist mentality of both parties.
As to your continued attempt at age discrimination, it is a shame that I am not old enough to meet the standards. I bought a nice cane, but upon further reflection, I should give it to you.
It would give me a unfair advantage, and while it will not help you at all, I would feel a little less like I was taking candy from a baby...
I must call BULLSHIT to the herdist mentality of both parties.