Why Big Bankers and Corporations Love Obama

Successful Economic Policies? For Whom?

by Ron Paul

Last week, in the wake of another uptick in the official unemployment rate, the administration continued to claim that their economic policies were working, just not fast enough. This administration inherited an unemployment rate of 7.7% and promised a peak of no higher than 8% if their policies were followed. Not only does the administration have a funny way of ending a war, but now they claim their economic policies are successful. For whom, I wonder?

These policies are not working for the 9.6% of Americans who are out of work, nor for the over16% underemployed. They are not working for nearly 3 million Americans who have declared bankruptcy in the last two years, or the 40 million currently on food stamps. Nearly 1 in 6 Americans depend on those and other government anti-poverty programs such as Medicaid and unemployment benefits. As more Americans are added to the unemployment rolls, the tax base from which to hand out their benefits is shrinking. Still, businesses are being taxed and regulated out of the market, adding to the problem. What solutions are put forth? More government spending – even as each citizen’s portion of the public debt is over $43,000 and expected to increase by $250,000 over the next 40 years.

No, this economy is not working for these people. But current economic policy does “work” for some people. For example, it has worked out very well for certain bankers and large corporations, who took on too much risk and got themselves in hot water, and were declared “too big to fail” which is really a euphemism for “friends in high places”. It works well for large, well-connected military industrial corporations, who can always count on perpetual war and conflict to keep them in business. It also works for those on the government’s payroll, which is increasing as the tax base is decreasing.

So where does the government get all this money even as its most obvious stream of revenue dries up? How can it keep spending seemingly indefinitely? Once it steals as much from you as it can get away with through taxation, it steals even more from you through what central bankers like to call quantitative easing, which is more or less the same thing as counterfeiting. When the money is no longer based on a finite quantity of something of value, like a store of gold or silver, the amount of money in circulation is not limited by anything but the restraint of those in control of the printing presses, in our case the Fed and the US Treasury. When increasing pressure is put upon them by irresponsible politicians, it is predictable that out of thin air, more money will be created to satisfy the insatiable appetites of those on political spending sprees. As money becomes more plentiful, it becomes less valuable, and the average citizen suffers again as the value of their savings evaporates. It has happened over and over in history, and what usually follows is the total debasement of the currency, hyperinflation and chaos.

Sound economic policy would be to take our foot off the gas and apply the brakes to government spending as the economic cliff approaches. We must get back to where our economy produces actual wealth, rather than mere paper wealth. The road back to fiscal sanity and a strong economy is simple: Congress just needs to get back to following the Constitution.

  • NCIcaucus

    As always the honest Ron Paul!

    Like or Dislike: Thumb up 0 Thumb down 1

  • Gaiaseyeforbeauty

    One thing you’ll never hear the US  corporatocracy talk about is the wests dangerous  US $ / oil connection as it relates to the appeasement of
    Islam and any meaningful action on climate change
    OPEC’s deal to sell oil only in US $ is allowing America to print money endlessly as oil purchasers help dilute what would be an inflationary policy at home globaly making US inflation more managable.


    Like or Dislike: Thumb up 0 Thumb down 1

  • bradq

    the banks like obama. if they did not he would have never been appointed as CEO of “UNITED STATES”.

    Like or Dislike: Thumb up 0 Thumb down 1

  • wodrummerworld

    they can ride on their high horses until the new world empire totally collapses, by the Wrath of God the Creator.

    Like or Dislike: Thumb up 0 Thumb down 1

  • 283ind

    10-15% fir tax explained
    5 dollars earned 50. cents
    five dollar spent 50. cents
    5 dollars earned from sale 50 cents
    usin the 5 dollars to but more merchandise to sell again 50 cents
    5 dollars received for the merchandise bought 50 cents
    so i have to return to work so ill cut it short
    this one five dollar bill spent and earned 5 times the government has created half of the value of the origanal five dollars and we know the same five dollars can generate millions for the government
    fair tax

    Like or Dislike: Thumb up 0 Thumb down 1

  • 283ind

    Yes Mr President. This man is honest fair and tries to not harm the little guy he defends the minorities rights when the majority or the mob of 51% feel they know better then the minority or marks the mob majority will tax extort the minority or marks.This is the standard of human life the majority or the strong will extort the minority or marks.Only America gives rights to the defenseless the lesser of us and even the crimanals who wish to erase our very existance.
    So i must say we will fight.

    Like or Dislike: Thumb up 0 Thumb down 1

  • dlfleming1

    The bankers loved Bush & Paulson even more…

    Like or Dislike: Thumb up 0 Thumb down 2

  • 8n4n08

    Actually a fiat currency rather than a gold backed currency is better for the people, please find the Secret of Oz.

    Like or Dislike: Thumb up 0 Thumb down 2

  • diah4

    Of course they do. He just gave them a large amount of our money w/o our consent. He is willing to build them up at our expense while many still suffer w/ unemployment. meanwhile he vacations and gives speech after speech. Sorry BO. we know yoour no different than the rest and that will be revealed at the polls.

    Like or Dislike: Thumb up 0 Thumb down 1

  • mmarzec

    Americans, why haven’t you listened to this guy’s advice much earlier? It may be too late now.

    Like or Dislike: Thumb up 1 Thumb down 1

  • http://www.yahoo.com Bottomline

    The Joke in the White house trying to sell his job killing economic policies! I would like to see RP become commander and chief.

    Like or Dislike: Thumb up 1 Thumb down 1

  • eliasmouawad

    Search For the documentary
    Part 2 uploaded

    Like or Dislike: Thumb up 0 Thumb down 1

  • numba1stunna4269

    Ron Paul 2012!

    Like or Dislike: Thumb up 1 Thumb down 1

  • ronheri

    Ron Paul is my all time hero. Hopehe runs again in 2012. He is the greatest patriot of all time; with knowledge of history, economics, healthcare, the Constitution, and how politics works in our corrupt government. He is a gift to us from our Creator. He is are best hope for the salvation of our Republic.

    Like or Dislike: Thumb up 1 Thumb down 1

  • joeguy02

    Never thought I’d look up to any politician, but Ron Paul is one of few in Washington that actually cares for the middle class. The founders would be very proud of this man.

    Like or Dislike: Thumb up 2 Thumb down 1

  • TheGrungeLibertarian

    I’d like someone like Ron Paul to be president. Downsizing the government ftw. However, safeguards need to placed to prevent private interests from becoming too powerful, as we’ve seen the slow and gradual result of that which began with the Rockefellers almost 150 years ago. Free market capitalism will always descend into the corporatist mess we have now unless we are vigilant…and this may sound radical, but I propose we get rid of money altogether. I mean, resources are no longer scarce.

    Like or Dislike: Thumb up 1 Thumb down 1

  • thefakeyeti

    I am seriously thinking about putting a bigger chunk of my pay check into my 401k..

    Living at home with da parents now and saving up most of my money..

    If the value of the dollar decreases, wouldn’t the stock market prices go up? So wouldn’t my money be safer in a 401k (though the down side is I cant get it until I am retired)

    Like or Dislike: Thumb up 0 Thumb down 1

    • http://realestaterecord.blogspot.com/ Tyrone

      The stock market might go up, but my guess is that it’s going down. And if the market goes up, everything else is going up, so there is really no gain beyond keeping pace with rampant inflation. I believe we’re heading towards deflation for the things we want, and inflation for the things we need. And putting more money in your 401K locks up more cash if you need to deploy it.

      If you listen to Bob Chapman, he’d tell you to stop contributing to your 401K, and to take a loan out against it and buy gold.

      Before pulling the trigger, I’d recommend reading/following:
      FOFOA (FreeGold idea)
      Calculated Risk
      Golden Truth
      Jesse’s Café Américain

      Like or Dislike: Thumb up 0 Thumb down 1

  • killerkatfilms

    Ron Paul NEEDS to be our president!

    PLEASE register your vote so that he will run again for 2012!

    Go to: ronpaul(dot)com

    Like or Dislike: Thumb up 1 Thumb down 1

  • RandallSteen

    Dear Ron. You are spot on. The signs are here. China and India are buying gold. Germany had two failed bond auction. The last signs will be a Comex default on silver and then the crash of 2010. Seek shelter my friend. All the best RS.

    Like or Dislike: Thumb up 1 Thumb down 1

  • Gilliatt83

    well said

    Like or Dislike: Thumb up 0 Thumb down 1