Archive for March 28th, 2008
Ron Paul didn’t just jump on the bandwagon criticizing the declining dollar. He’s been leading the parade against our doomed federal monetary policies for years.
Time to listen to Texas Congressman Ron Paul, the lone voice of reason in Congress today who’s got to feel like he’s shouting into a field of cotton with his repeated warnings about the dangers of a collapsing dollar, while the administration goes AWOL on the problem.
The dollar just hit a record intraday low against the euro on reports that consumer confidence levels have dropped to levels not seen since the post-Watergate era. It is down 7% year to date against the Chinese renminbi, it’s weaker than the Japanese yen and the Canadian loonie.
The joke is the greenback is now only stronger than the Mexican pesos and the Zimbabwe dollar, an overstatement for dramatic effect, to be sure.But since hitting a peak in 2002, the dollar has lost about a quarter of its value against a trade weighted basket of currencies.
. . . Congressman Paul rightfully warns us when he says the US government has “systematically undermined” the US dollar by expanding “the money supply at will for financing war or manipulating the economy with little resistance from Congress–while benefiting the special interests that influence government.”
. . . “Empires fail because they run out of money, or more accurately, run out of the ability to spend or inflate,” Congressman Paul warns. “We need to control spending, immediately, before it is too late.”
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Ron Paul may not have won the Republican nomination, but he surely is a winner. And, when Ron Paul wins, the country wins!
But even if Paul’s ideological purity is never going to get him to the White House, it does help illuminate the impurities — and sometimes the hypocrisies — of today’s Republicans, just as Ralph Nader can do for the Democrats. The G.O.P. candidates all claimed to defend taxpayers, but Paul was the only one who refused to accept a taxpayer-funded pension or taxpayer-funded junkets. The candidates all talked about shrinking big government, but Paul was the only one who included the Pentagon and NSA wiretaps and petroleum subsidies in his definition. Bush’s approval ratings have been abysmal for years, but Paul was the only Republican who really campaigned for change.
And in doing so Paul illustrated what was so striking about the Republican race. The leading candidates had all strayed from Bush and current orthodoxy in the past — Rudy Giuliani on abortion and gay rights, John McCain on tax cuts, torture, health care and campaign finance, Mitt Romney on just about everything. But while Paul was getting attacked every time he called for a new direction, the rest spent the primaries minimizing and renouncing their previous departures, implicitly promising four more years of Bushism. McCain is lucky he has some time to craft a new message, because that’s not where America stands today, either.
Read it all: Why Ron Paul Scares the GOP - TIME
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In large states public education will always be mediocre, for the same reason that in large kitchens the cooking is usually bad.
— Friedrich Wilhelm Nietzsche, Human All-too-Human [1878]
