Tag Archives | Ron Paul
Ron Paul is going to be asking the “Fed Question” until the day he dies. Probably the day after too. But will anyone else pick up the mantle? From the Wall Street Journal:
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It has been a tough summer and fall for Ron Paul.
In June, he conceded the Republican presidential nomination. In August, he turned down a chance to speak at the Republican convention when he reportedly was told he would have to fully endorse Mitt Romney. A video tribute to Mr. Paul ran instead.
His delegates were barred from and accused of disrupting the party proceedings.
And now through three presidential debates, the Texas congressman’s pet issue, monetary policy, has been ignored. “They don’t want to talk about it,” Mr. Paul said in an interview Tuesday.
He added sarcastically: “It’s not important enough. It’s only half of every single transaction in the world.”
You would think that even if Ron Paul the presidential candidate has failed, Ron Paul the Fed critic would be alive and well, front and center in the national debate.
Brad DeLong has taken some time out of his busy day to try to explain to the rest of us why Ludwig von Mises, patron saint of goldbugs and PaulBots, got monetary policy so very very wrong:
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The problem, I think Ludwig von Mises would say, is that the wealth of society is the amount of work has gone into creating the commodities in the economy: the food, the clothing, the houses, the little gold disks. The sum of past work crystalized in commodities is society’s wealth. The food is wealth, the housing is wealth, the clothing is wealth, and the little gold disks are wealth. Then add unbacked fiat money and bank credit–either public or private, it doesn’t matter–to the mix. The fiat money and the bank credit are counted as wealth, as if they were claims to little gold disks that took sweat and tears to create, but they are not wealth at all.
Via Yahoo! News:
While Ron Paul may not be the next president, he can chalk up one victory this year. The Texas Republican’s “audit the fed” bill has passed the house. Needless to say, Federal Reserve Chairman Ben Bernanke and his allies are not pleased:
“This bill would … jeopardize the Fed’s independence by subjecting its decisions on interest rates and monetary policy to GAO audit,” said House Minority Whip Steny Hoyer, a Democrat from Maryland. “I agree with Chairman Bernanke that congressional review of the Fed’s monetary policy decisions would be a ‘nightmare scenario,’ especially judging by the track record of this Congress when it comes to governing effectively.”
Despite the excitement of House Republicans, Paul’s victory can probably be considered a moral one only: Democratic Senator Harry Reid described the bill as “dead on arrival” once it arrives at the Senate.
Read more at Yahoo! News:
Okay, so the mask is finally off. But honestly, it never really was much of a disguise, was it? From Erin Mershon at the Huffington Post:
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Rep. Ron Paul (R-Texas) may rail against Social Security insolvency in the public eye, but that hasn’t stopped him from accepting the government checks.
The libertarian-leaning Republican and former presidential candidate admitted Wednesday that he accepts Social Security checks just minutes after he called for younger generations to wean themselves off the program, in an interview on MSNBC’s “Morning Joe.”
“I want young people to opt out of Social Security, but my goal isn’t to cut,” he said.
The Huffington Post’s Sam Stein then asked Paul, “A bit of a personal question — Are you on Social Security? Do you get social security checks?”
Paul admitted he does, stating, “[It’s] just as I use the post office, I use government highways, I use the banks, I use the federal reserve system.
Ron Paul is the candidate that continues to be ignored by the mainstream media, but he is still in the game. The Texas congressman and his supporters continue to push towards the Republican National Convention in Tampa, Florida, but many doubt Paul's delegate strategy will give him the GOP nod. So what can we expect from Paul at the RNC? Brian Doherty, senior editor at Reason.com, joins us with more on Paul's new strategy heading to the RNC.
Hard-core Ron Paulers probably won’t like the criticism in the later part of this article, and it’s hard to disagree with the economics of his campaign presented here, but the tone of the article starts out surprising warm from someone in the mainstream media. As Andrew Rosenthal writes in the New York Times:
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Ron Paul announced today that he will no longer spend campaign money to compete in states that have not yet voted, which is probably wise. Mr. Paul has spent around $34 million so far to accumulate 104 delegates. That’s $326,923 and change per delegate.
So, I thought, he’s dropping out. Or at least “suspending” his bid, a semantic difference that allows politicians to go on raising money while not actually doing any campaign work. But no, Mr. Paul said in an email to supporters that he will continue accumulating delegates to the Republican National Convention in August.
Ron Paul writes on the Daily Bell:
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This month Veterans Affairs Secretary Eric K. Shinseki announced the addition of some 1,900 mental health nurses, psychiatrists, psychologists and social workers to its existing workforce of 20,590 mental health staff in attempt to get a handle on the epidemic of suicides among combat veterans. Unfortunately, when presidents misuse our military on an unprecedented scale – and Congress lets them get away with it – the resulting stress causes military suicides to increase dramatically, both among active duty and retired service members. In fact, military deaths from suicide far outnumber combat deaths. According to an article in the Air Force Times this month, suicides among airmen are up 40 percent over last year.
Considering the multiple deployments service members are forced to endure as the war in Afghanistan stretches into its second decade, these figures are sadly unsurprising.
Ironically, the same VA Secretary Eric Shinseki was forced to retire from the Army by President Bush for daring to suggest that an invasion and occupation of Iraq would not be the cakewalk that neoconservatives promised.