A concise, accurate missive by Ron Paul from Lew Rockwell's website. As the economic crisis deepens and its affects become increasingly widespread, Paul's Presidential campaign--and his sage advice in years past--will hopefully find a larger audience.
The annoying moniker "doomsday economists" has mistakenly been applied to principled individuals such as Peter Schiff, Murray Sabrin, Ron Paul, etc. who repeatedly speak out against government intervention in the economy. One has to wonder just how bad conditions will have to get before the aforementioned doomsday naysayers will be proven right in the public eye.
It is a shame that, during these unstable times, people are seeking shelter under the false security umbrella of socialism. Millions of people will vote for some form of socialism in November, and I'm guessing the majority of the public supports some form of financial intervention. And guess what? Between the oil company hearings, the Treasury's calls for increased Federal Reserve control in financial markets, and the Fed irresponsibly lowering interest rates, people are going to get what they asked for. Unfortunately, the consequences of a mismanaged economy do not discriminate (save for the extremely wealthy).
Given the above, the great H.L. Mencken warrants mention:
"Democracy is the theory that the common people know what they want, and deserve to get it good and hard."Indeed, Mr. Mencken...it's too bad that responsible people also have to go down with the ship.
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