Congressional Hearing Smackdown: Representative Ron Paul Unloads on Chairman Ben Bernanke
CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Wednesday, July 22, 2009
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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15 Comments:
Great speech. Too bad the senate's "audit the fed" bill got shut down by the democratic leadership.
burned
So what's the plan Ron? What's the plan?
If I were Bernanke, I would've interrupted him about two minutes into his tirade and said, "Excuse me Mr. Paul, is there a question for me somewhere in our future?"
Paul is a moron.
Frightening that he ran for President
He is wrong. Political turmoil is to someone's benefit. The one who wants more government.
Kevin,
Isn't being a moron one of the requirements for the presidency?
Ron Paul is correct in every way. What's the plan? Stop borrowing, stop expanding credit, stop easy money. Will it be painful? Hell, yes. So's quitting any addiction.
"
being a moron one of the requirements for the presidency?
At 7/22/2009 2:28 PM, Blogger Tom said...
Ron Paul is correct in every way. What's the plan? Stop borrowing, stop expanding credit, stop easy money. Will it be painful? Hell, yes. So's quitting any addiction.
"
Awe shucks, Ron Paul is just so sane; it just may never work.
What do you mean folks? I thought the surest way to get out of debt was to quadruple down?
Congress is great at blaming everyone else. We have deflation with all the increases in money supply. Does Ron Paul want severe deflation like we had in the depression? I'm concerned about some of the points he made but wouldn't if be great if we achieved a balanced budget once we get through this recession. Wouldn't deficit spending during a recession be more effective if we had a surplus during good times? Fix the spending on big items ahead of time: Medicare, Social Security, Prescription drug plan reform--No new health care bill. Don't increase taxes in a recession.
If he could have been that lucid during the campaign he might have had a chance.
Yes, Ron Paul wants deflation. It's amusing that his 'audit' will be counterproductive and contrary to his own wishes - it will lead to a further loosening of monetary policy in the future. When the politicians influence interest rates it's almost always inflationary.
Ron Paul was lucid during the campaign. unfortunately his lucid moments are followed by long stretches of insanity.
Non Sequitur
Man lives off left overs.
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