by Ron Paul
Unemployment continues to plague our economy. In spite of constant claims that we have just turned the corner into recovery, the jobs report remains grim with no real signs of improvement. While Keynesian economists and big government apologists scratch their heads about persistent unemployment in spite of unprecedented government so-called “investment” in the economy, free-market economists understand the problem perfectly well. In short, they understand that we are looking to the Federal Reserve to solve an unemployment crisis that the Fed itself largely created.
For example, the Fed is supposed to maintain full employment as half of its dual mandate. But the Fed simply has the wrong tools to do this. In fact, its credit expansion and manipulation of interest rates cause harm when they are applied to “help the economy.” As we saw with the housing boom and bust, Fed-created inflation cannot be sustained without harmful consequences. The Fed’s artificial boom led to the unemployment we’re suffering today.
The Fed is not a small business or a manufacturer that creates value or increases productivity to sustain real job growth. It literally destroys value by printing more money and distributing it through sweetheart deals to well-connected banks and corporations, including foreign banks. The only success the Fed has had in maintaining full employment has been on Wall Street, where it props up crony banks and investment houses to protect them from going bankrupt as they should. Instead they survive to malinvest another day while their executives enjoy jackpot bonuses.
The Fed also pumped up employment in the housing industry with artificially low interest rates that created an unsustainable demand for housing. Millions jumped into the sector when the money was loose and the bubble inflated. Besides the many who bought houses they could not afford and now face foreclosure, there were also those who became employed in housing-related fields. These people invested time and money in training and spent years establishing careers in real estate, mortgage lending, construction and contracting. Careers that all vanished into thin air with the burst of the bubble. Now they face considerable disruption in their lives as they struggle with unemployment, underemployment, and decisions about retraining for different careers. This amounts to a tremendous amount of unnecessary waste that would not have occurred had the housing industry be allowed to develop naturally according to market demands.
Jobs are properly created by entrepreneurs who are willing to work hard and take calculated risks. Jobs are also created through real increases in productivity, resulting from real investment profits or conservative borrowing at market interest rates. But the Fed has made those risks impossible to calculate and made borrowing money artificially cheap. As a result, economic growth has been chilled while unemployment skyrockets.
Until those in power understand the harm they do with central economic planning, we will continue to slide backwards and lose jobs. The Fed needs to stay out of the job-creating business altogether, and the federal government needs to focus on its constitutional duties. Just when we need government to back off, we hear about more government intervention in the economy in the form of “more spending”, only they call it “investment”. It is more properly called “malinvestment”, and the resources that are funnelled into industries by government policies will only hurt employment more in the long run.
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The US is in for a BIG wake up call. The R’s and D’s who have been spouting ignorant chatter all these years will look back and see that Dr. Paul and other free-market champions were right. Dr. Paul, please run for President. May you help redirect this country and help prevent an utter collapse of this great country.
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RP12! V
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PLEASE RUN FOR PRESIDENT!!
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I hope you will run.
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Yes…I’m an Architect for the past 8 years. Went to Columbia U. NO JOBS! I stopped sending out resumes for a job to save paper to build my cardboard house to live in. My UI ran out after 3 months. I don’t even get a wet food stamp anymore. I’m one of the millions the government hopes can just disappear.
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Inflation is definitely theft.
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quiet running your mouth and do something run for president mr paul stand up!!!!!!
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We need you now!!!! RUNNNNNNNNNNNNNNNNNNN!!!!!!!!!!!!!
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RUN RON RUN!!!
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Paul and Jesse for 2012 to kick out corruption once and for all.
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Paul in2012
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keep spreading the truth
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RUN PAUL!!!!
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If Ron can end the fed, that would do far more good for the US than him being elected president. All the other excessive government programs and militarism would come to an end without the printing press.Ron knows this and everyone needs to keep the pressure on the theives behind the curtain.
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Don’t cooperate with banks, corporations! Don’t give them anything! Organize! Say it to your friends! Thanks! Good Luck!
Invite me who like my channel for Truth to be heard!
Good luck Good People! V!
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wow, 92 likes and 0 dislikes
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The 2Renaissance will come after u run
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Ron Paul 2012 he’s already got our votes !
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its all done by design, no other logical explanation…
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Ron, if you have the strength please run for President 2012.
Even if you would not win this time either your ideas will go out to many others who never heard them.
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Everything good is bad, and everything bad is good!!!! Dont forget it
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Run Forrest Run
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I hope you become President Ron…!!!
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Run Ron Run
Run Ron Run
Run Ron Run
We CAN do it
brave people of Tunisia Egypt showed us the way…
learn the truth at Daily Paul & Liberty Poet
websites
Peace!
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so why are you still trying to audit this obvious prohibited activity? Why not introduce legislation to repeal legal tender laws and allow competition in money???? You confuse me Ron
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To Exposeing Uncle Sam, in reponse to to the comment three hours ago :
Ron paul was always advocating for competing currencies however I Don’t think he would have enogh support to seriously introduce it yet. He got to biuld it a little more, and that is where we can come in. In our states we can contact Our Congressmen and tell them we want competing currencies, and we support ron paul. But we still need a audit so it would prove why we need competing currencies as not have a single entity have a monopoly on currency and Unchecked power over it. It needs to be accountable.
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Destruction of the middle class and reconsolidation of wealth are the agenda.
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More and More people getting turned onto Ron Paul because (“He gets it.”) And We know, he knows, We know!
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I’m British. I live in the UK. I’d just like to say, Run Dr. Paul!!!!
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For the sake of us all, for the sake of the sacrifice by all those before us, RUN FOR THE PRESIDENT, before it is to late.
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thumbs up if your Run Paul 2012 bumper stickers are up
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Nice chemtrail subliminal in the background
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Inflation is Theft! …TRUE..SO the elites have Hinge-men minding gold in foreign country.The people from other country can`t even own anything in this state. They are just custodian. But the RICH PIGS is Owing other people gold.:(
WHEN WILL THE WORLD WAR START? PORK(white pig and black hogs) FOR-SALE.
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Run Ron, Run!!!
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such a badass Ron Paul is, only too many people think this is ‘crazy’ talk,
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Run Dr. Paul!!!!!
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