Wednesday, October 1, 2008


In my post of the other day related to the economic crash, housing bubble burst, and the Wall Street Bailout, I mentioned that Congressman RON PAUL “foretold all that we are experiencing!”

In the article titled “Government Bailout” written by Brian Farmer for The New American magazine, Congressman Paul is quoted speaking downright prophetically in a 2005 address delivered before the House of Representatives in response to the proposed “Federal Housing Finance Reform Act.” If you wish to see a perfect example of what I was referring to in regards to Congressman Paul’s foresight in these economic matters pertaining to Fannie Mae and Freddie Mac, be sure you read this informative piece. It will also provide you with a simple but good history lesson on how un-Constitutional government intervention in financial matters bring about these terrible Boom-Bust periods that Americans are forced to endure time and time again. Get informed – READ! (Use the link I’ve included below.)

Being a medical doctor, Congressman Paul came up with the ideal analogy for the recent “Rescue Plan” passed on behalf of Fannie and Freddie. This is excerpted from the article referenced above:

In a knee-jerk response to the crisis, Congress swung into action. On July 23 the massive American Housing Rescue and Foreclosure Prevention Act of 2008 was approved in the House of Representatives by a vote of 272 to 152. Three days later it sailed through the Senate by a margin of 72 to 13, and on July 30 it was signed into law by the president. A close reading of the bill does not inspire confidence. The Congressional Budget Office estimates that the total cost of the bailout will be $25 billion. However, the bill raises the federal debt limit by a whopping $800 billion, indicating that the final cost is likely to be much higher.

Once again, Rep. Ron Paul has offered the best commentary on the situation:

"Some mistakenly identify the falling home prices as the disease instead of merely a symptom — which they plan to fix with more easy credit and more liquidity to push more unqualified buyers back into the market for homes they still cannot afford. This is akin to the drug addict identifying withdrawal symptoms as his problem and searching for another fix as his solution. The cycle continues and the problems compound themselves. The addiction deepens.

"Addicts are told the first step to recovery is to admit their problem. To cure this addiction to intervention we have to honestly admit the problem and once and for all, kick the habit. That will involve some pain, without a doubt. There is no easy, painless solution to the mess the disastrous economic interventions of the past have wrought. The question is — do we allow some lending institutions to collapse, or do we allow the dollar to collapse? To extend the metaphor, do we endure the temporary discomfort of withdrawal, or do we continue on until there is a fatal overdose? We can delay the agony, but only for a little while, and then we will all end up paying the price for the mistakes of a few.

"With the final passage of the Housing Bailout Bill quietly on a Saturday in the Senate, and the President's signature, our government has unfortunately chosen the latter."

To read the entire article and to gain a true appreciation for how far ahead of the curve RON PAUL was, click here:

And to think that the Knucklehead Republicans had a chance to nominate this man, Ron Paul, as their presidential candidate but passed on it in favor of Old Man John McSame and Sarah What’s-Her-Name! The Democrats we can’t expect any displays of knowledge and intelligence from, but supposedly (so-called!) “conservative”, limited-government Republicans should have known better. But they never do!

Listen, People!
It is up to us to teach our Old Dog Government new tricks. And if the Damned Old Dog just can’t learn them, then it must be kicked out of the Show and into the Street!

~ Stephen T. McCarthy


  1. Maybe not, but you could always send me money.

    ~ STMcC
    <"As a dog returns to his own vomit, so a fool repeats his folly."
    ~ Proverbs 26:11>

  2. Why don't I just send you a Monopoly board game for Christmas. If we go by governmental standards it's really the same thing.

  3. Yeah. Well, actually, the Monopoly money might even have more intrinsic worth than Federal Reserve notes simply because it's printed on prettier paper.

    ~ STMcC
    <"As a dog returns to his own vomit, so a fool repeats his folly."
    ~ Proverbs 26:11>


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