ron paul

*The Creation of the Second Great Depression*

*By Ron Paul

25/09/08 "* <The%20Creation%20of%20the%20Second%20Great%20Depression,,By%20Ron%20Paul,,25/09/08%20%22Lew%20Rockwell%22%20--%20-%20Whenever%20a%20Great%20Bipartisan%20Consensus%20is%20announced,%20and%20a%20compliant%20media%20assures%20everyone%20that%20the%20wondrous%20actions%20of%20our%20wise%20leaders%20are%20being%20taken%20for%20our%20own%20good,%20you%20can%20know%20with%20absolute%20certainty%20that%20disaster%20is%20about%20to%20strike.,,The%20events%20of%20the%20past%20week%20are%20no%20exception.,,The+bailout+package+that+is+about+to+be+rammed+down+Congress%3F+throat+is+not+just+economically+foolish.+It+is+downright+sinister.+It+makes+a+mockery+of+our+Constitution,%20which%20our%20leaders%20should%20never%20again%20bother%20pretending%20is%20still%20in%20effect.%20It%20promises%20the%20American%20people%20a%20never-ending%20nightmare%20of%20ever-greater%20debt%20liabilities%20they%20will%20have%20to%20shoulder.%20Two%20weeks%20ago,%20financial%20analyst%20Jim%20Rogers%20said%20the%20bailout%20of%20Fannie%20Mae%20and%20Freddie%20Mac%20made%20America%20more%20communist%20than%20China%21%20%22This%20is%20welfare%20for%20the%20rich,%22+he+said.+%22This+is+socialism+for+the+rich.+It%3Fs+bailing+out+the+financiers,%20the%20banks,%20the%20Wall%20Streeters.%22,,That+describes+the+current+bailout+package+to+a+T.+And+we%3Fre+being+told+it%3Fs+unavoidable.,,The%20claim%20that%20the%20market%20caused%20all%20this%20is%20so%20staggeringly%20foolish%20that%20only%20politicians%20and%20the%20media%20could%20pretend%20to%20believe%20it.%20But%20that%20has%20become%20the%20conventional%20wisdom,+with+the+desired+result+that+those+responsible+for+the+credit+bubble+and+its+predictable+consequences+%3F+predictable,%20that%20is,%20to%20those%20who%20understand%20sound,+Austrian+economics+%3F+are+being+let+off+the+hook.+The+Federal+Reserve+System+is+actually+positioning+itself+as+the+savior,%20rather%20than%20the%20culprit,%20in%20this%20mess%21,,*%20The%20Treasury%20Secretary%20is%20authorized%20to%20purchase%20up%20to%20$700%20billion%20in%20mortgage-related%20assets%20at%20any%20one%20time.%20That%20means%20$700%20billion%20is%20only%20the%20very%20beginning%20of%20what%20will%20hit%20us.,*%20Financial%20institutions%20are%20%22designated%20as%20financial%20agents%20of%20the%20Government.%22%20This%20is%20the%20New%20Deal%20to%20end%20all%20New%20Deals.,*+Then+there%3Fs+this:%20%22Decisions%20by%20the%20Secretary%20pursuant%20to%20the%20authority%20of%20this%20Act%20are%20non-reviewable%20and%20committed%20to%20agency%20discretion,%20and%20may%20not%20be%20reviewed%20by%20any%20court%20of%20law%20or%20any%20administrative%20agency.%22%20Translation:%20the%20Secretary%20can%20buy%20up%20whatever%20junk%20debt%20he%20wants%20to,%20burden%20the%20American%20people%20with%20it,%20and%20be%20subject%20to%20no%20one%20in%20the%20process.,,There%20goes%20your%20country.,,Even%20some%20so-called%20free-market%20economists%20are%20calling%20all%20this%20%22sadly%20necessary.%22%20Sad,%20yes.%20Necessary?+Don%3Ft+make+me+laugh.,,Our+one-party+system+is+complicit+in+yet+another+crime+against+the+American+people.+The+two+major+party+candidates+for+president+themselves+initially+indicated+their+strong+support+for+bailouts+of+this+kind+%3F+another+example+of+the+big+choice+we%3Fre+supposedly+presented+with+this+November:%20yes%20or%20yes.%20Now,%20with%20a%20backlash%20brewing,+they%3Fre+not+quite+sure+what+their+views+are.+A+sad+display,%20really.,,Although+the+present+bailout+package+is+almost+certainly+not+the+end+of+the+political+atrocities+we%3Fll+witness+in+connection+with+the+crisis,%20time%20is%20short.%20Congress%20may%20vote%20as%20soon%20as%20tomorrow.%20With%20a%20Rasmussen%20poll%20finding%20support%20for%20the%20bailout%20at%20an%20anemic%20seven%20percent,%20some%20members%20of%20Congress%20are%20afraid%20to%20vote%20for%20it.%20Call%20them%21%20Let%20them%20hear%20from%20you%21%20Tell%20them%20you%20will%20never%20vote%20for%20anyone%20who%20supports%20this%20atrocity.,,The%20issue%20boils%20down%20to%20this:%20do%20we%20care%20about%20freedom?%20Do%20we%20care%20about%20responsibility%20and%20accountability?%20Do%20we%20care%20that%20our%20government%20and%20media%20have%20been%20bought%20and%20paid%20for?%20Do%20we%20care%20that%20average%20Americans%20are%20about%20to%20be%20looted%20in%20order%20to%20subsidize%20the%20fattest%20of%20cats%20on%20Wall%20Street%20and%20in%20government?%20Do%20we%20care?,,When%20the%20chips%20are%20down,%20will%20we%20stand%20up%20and%20fight,%20even%20if%20it%20means%20standing%20up%20against%20every%20stripe%20of%20fashionable%20opinion%20in%20politics%20and%20the%20media?,,Times%20like%20these%20have%20a%20way%20of%20telling%20us%20what%20kind%20of%20a%20people%20we%20are,%20and%20what%20kind%20of%20country%20we%20shall%20be.,,Dr.+Ron+Paul+is+a+Republican+member+of+Congress+from+Texas.>*Lew
Rockwell* <http://www.lewrockwell.com/paul/paul479.html>*" -- -
W*henever a Great Bipartisan Consensus is announced, and a compliant
media assures everyone that the wondrous actions of our wise leaders are
being taken for our own good, you can know with absolute certainty that
disaster is about to strike.

The events of the past week are no exception.

The bailout package that is about to be rammed down Congress’ throat is
not just economically foolish. It is downright sinister. It makes a
mockery of our Constitution, which our leaders should never again bother
pretending is still in effect. It promises the American people a
never-ending nightmare of ever-greater debt liabilities they will have
to shoulder. Two weeks ago, financial analyst Jim Rogers said the
bailout of Fannie Mae and Freddie Mac made America more communist than
China! "This is welfare for the rich," he said. "This is socialism for
the rich. It’s bailing out the financiers, the banks, the Wall Streeters."

That describes the current bailout package to a T. And we’re being told
it’s unavoidable.

The claim that the market caused all this is so staggeringly foolish
that only politicians and the media could pretend to believe it. But
that has become the conventional wisdom, with the desired result that
those responsible for the credit bubble and its predictable consequences
– predictable, that is, to those who understand sound, Austrian
economics – are being let off the hook. The Federal Reserve System is
actually positioning itself as the savior, rather than the culprit, in
this mess!

* The Treasury Secretary is authorized to purchase up to $700 billion in
mortgage-related assets at any one time. That means $700 billion is only
the very beginning of what will hit us.
* Financial institutions are "designated as financial agents of the
Government." This is the New Deal to end all New Deals.
* Then there’s this: "Decisions by the Secretary pursuant to the
authority of this Act are non-reviewable and committed to agency
discretion, and may not be reviewed by any court of law or any
administrative agency." Translation: the Secretary can buy up whatever
junk debt he wants to, burden the American people with it, and be
subject to no one in the process.

There goes your country.

Even some so-called free-market economists are calling all this "sadly
necessary." Sad, yes. Necessary? Don’t make me laugh.

Our one-party system is complicit in yet another crime against the
American people. The two major party candidates for president themselves
initially indicated their strong support for bailouts of this kind –
another example of the big choice we’re supposedly presented with this
November: yes or yes. Now, with a backlash brewing, they’re not quite
sure what their views are. A sad display, really.

Although the present bailout package is almost certainly not the end of
the political atrocities we’ll witness in connection with the crisis,
time is short. Congress may vote as soon as tomorrow. With a Rasmussen
poll finding support for the bailout at an anemic seven percent, some
members of Congress are afraid to vote for it. Call them! Let them hear
from you! Tell them you will never vote for anyone who supports this
atrocity.

The issue boils down to this: do we care about freedom? Do we care about
responsibility and accountability? Do we care that our government and
media have been bought and paid for? Do we care that average Americans
are about to be looted in order to subsidize the fattest of cats on Wall
Street and in government? Do we care?

When the chips are down, will we stand up and fight, even if it means
standing up against every stripe of fashionable opinion in politics and
the media?

Times like these have a way of telling us what kind of a people we are,
and what kind of country we shall be.

Dr. Ron Paul is a Republican member of Congress from Texas.
--
<The%20Creation%20of%20the%20Second%20Great%20Depression,,By%20Ron%20Paul,,25/09/08%20%22Lew%20Rockwell%22%20--%20-%20Whenever%20a%20Great%20Bipartisan%20Consensus%20is%20announced,%20and%20a%20compliant%20media%20assures%20everyone%20that%20the%20wondrous%20actions%20of%20our%20wise%20leaders%20are%20being%20taken%20for%20our%20own%20good,%20you%20can%20know%20with%20absolute%20certainty%20that%20disaster%20is%20about%20to%20strike.,,The%20events%20of%20the%20past%20week%20are%20no%20exception.,,The+bailout+package+that+is+about+to+be+rammed+down+Congress%3F+throat+is+not+just+economically+foolish.+It+is+downright+sinister.+It+makes+a+mockery+of+our+Constitution,%20which%20our%20leaders%20should%20never%20again%20bother%20pretending%20is%20still%20in%20effect.%20It%20promises%20the%20American%20people%20a%20never-ending%20nightmare%20of%20ever-greater%20debt%20liabilities%20they%20will%20have%20to%20shoulder.%20Two%20weeks%20ago,%20financial%20analyst%20Jim%20Rogers%20said%20the%20bailout%20of%20Fannie%20Mae%20and%20Freddie%20Mac%20made%20America%20more%20communist%20than%20China%21%20%22This%20is%20welfare%20for%20the%20rich,%22+he+said.+%22This+is+socialism+for+the+rich.+It%3Fs+bailing+out+the+financiers,%20the%20banks,%20the%20Wall%20Streeters.%22,,That+describes+the+current+bailout+package+to+a+T.+And+we%3Fre+being+told+it%3Fs+unavoidable.,,The%20claim%20that%20the%20market%20caused%20all%20this%20is%20so%20staggeringly%20foolish%20that%20only%20politicians%20and%20the%20media%20could%20pretend%20to%20believe%20it.%20But%20that%20has%20become%20the%20conventional%20wisdom,+with+the+desired+result+that+those+responsible+for+the+credit+bubble+and+its+predictable+consequences+%3F+predictable,%20that%20is,%20to%20those%20who%20understand%20sound,+Austrian+economics+%3F+are+being+let+off+the+hook.+The+Federal+Reserve+System+is+actually+positioning+itself+as+the+savior,%20rather%20than%20the%20culprit,%20in%20this%20mess%21,,*%20The%20Treasury%20Secretary%20is%20authorized%20to%20purchase%20up%20to%20$700%20billion%20in%20mortgage-related%20assets%20at%20any%20one%20time.%20That%20means%20$700%20billion%20is%20only%20the%20very%20beginning%20of%20what%20will%20hit%20us.,*%20Financial%20institutions%20are%20%22designated%20as%20financial%20agents%20of%20the%20Government.%22%20This%20is%20the%20New%20Deal%20to%20end%20all%20New%20Deals.,*+Then+there%3Fs+this:%20%22Decisions%20by%20the%20Secretary%20pursuant%20to%20the%20authority%20of%20this%20Act%20are%20non-reviewable%20and%20committed%20to%20agency%20discretion,%20and%20may%20not%20be%20reviewed%20by%20any%20court%20of%20law%20or%20any%20administrative%20agency.%22%20Translation:%20the%20Secretary%20can%20buy%20up%20whatever%20junk%20debt%20he%20wants%20to,%20burden%20the%20American%20people%20with%20it,%20and%20be%20subject%20to%20no%20one%20in%20the%20process.,,There%20goes%20your%20country.,,Even%20some%20so-called%20free-market%20economists%20are%20calling%20all%20this%20%22sadly%20necessary.%22%20Sad,%20yes.%20Necessary?+Don%3Ft+make+me+laugh.,,Our+one-party+system+is+complicit+in+yet+another+crime+against+the+American+people.+The+two+major+party+candidates+for+president+themselves+initially+indicated+their+strong+support+for+bailouts+of+this+kind+%3F+another+example+of+the+big+choice+we%3Fre+supposedly+presented+with+this+November:%20yes%20or%20yes.%20Now,%20with%20a%20backlash%20brewing,+they%3Fre+not+quite+sure+what+their+views+are.+A+sad+display,%20really.,,Although+the+present+bailout+package+is+almost+certainly+not+the+end+of+the+political+atrocities+we%3Fll+witness+in+connection+with+the+crisis,%20time%20is%20short.%20Congress%20may%20vote%20as%20soon%20as%20tomorrow.%20With%20a%20Rasmussen%20poll%20finding%20support%20for%20the%20bailout%20at%20an%20anemic%20seven%20percent,%20some%20members%20of%20Congress%20are%20afraid%20to%20vote%20for%20it.%20Call%20them%21%20Let%20them%20hear%20from%20you%21%20Tell%20them%20you%20will%20never%20vote%20for%20anyone%20who%20supports%20this%20atrocity.,,The%20issue%20boils%20down%20to%20this:%20do%20we%20care%20about%20freedom?%20Do%20we%20care%20about%20responsibility%20and%20accountability?%20Do%20we%20care%20that%20our%20government%20and%20media%20have%20been%20bought%20and%20paid%20for?%20Do%20we%20care%20that%20average%20Americans%20are%20about%20to%20be%20looted%20in%20order%20to%20subsidize%20the%20fattest%20of%20cats%20on%20Wall%20Street%20and%20in%20government?%20Do%20we%20care?,,When%20the%20chips%20are%20down,%20will%20we%20stand%20up%20and%20fight,%20even%20if%20it%20means%20standing%20up%20against%20every%20stripe%20of%20fashionable%20opinion%20in%20politics%20and%20the%20media?,,Times%20like%20these%20have%20a%20way%20of%20telling%20us%20what%20kind%20of%20a%20people%20we%20are,%20and%20what%20kind%20of%20country%20we%20shall%20be.,,Dr.+Ron+Paul+is+a+Republican+member+of+Congress+from+Texas.>

/^_,',',',_ //^ /Kraig Grady_ ^_,',',',_
Mesotonal Music from:
_'''''''_ ^North/Western Hemisphere:
North American Embassy of Anaphoria Island <http://anaphoria.com/>

_'''''''_ ^South/Eastern Hemisphere:
Austronesian Outpost of Anaphoria <http://anaphoriasouth.blogspot.com/>

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