Date: 06/13/2011
The Keys to Economic Growth
by Ron Paul
Recent economic data show that U.S. job growth in May was negligible, while the official unemployment figure– at least the figure the Labor Department admits to– rose to 9.1%. The real unemployment figure, however, as compiled by economist John Williams, may well be higher than 20%. It is clear the U.S. economy is in terrible shape, and that no amount of government spending or Federal Reserve quantitative easing can reduce unemployment, increase real productivity, or address our debt fiasco.U.S. jobs and productivity are dependent on the accumulation of private capital to finance existing businesses or fund new entrepreneurial activity. Private capital– whether accumulated by profitable U.S. businesses, invested by private equity and venture capital firms, or attracted from abroad– is the key to economic growth and new jobs. But we cannot create jobs if we demonize profits, punish risk-taking capitalists, and stay hostile to foreign investment.
The steps to encouraging capital investment and creating new jobs in America are simple, though not easy:
- First and foremost, we must create a sound U.S. currency backed by gold or some other commodity respected by the market. No nation in history with a rapidly depreciating currency has attracted private capital. Unless and until we prohibit the Treasury and Federal Reserve from essentially creating money and credit from thin air, we cannot restore the U.S. economy.
- Second, we must create a favorable regulatory environment for U.S. business. This cannot be stressed enough. When businesses don’t know what’s coming next from the EPA, when Obamacare spikes their healthcare costs, or when the Dodd-Frank bill adds almost unknowable regulatory compliance burdens, businesses simply will not expand and hire. It is time to start shrinking the federal register.
- Third, we must stop spending trillions of dollars overseas on foreign wars. There is no point in debating a foreign policy we cannot afford. It no longer matters what neoconservatives want. Our interventionist foreign policy is financed on credit, and our credit limit has been reached. Our economy would be infinitely better off if those trillions of dollars had never been removed from the private economy or added to our debt.
- Finally, we must completely revamp the U.S. tax system and move to a territorial model that does not tax foreign source income. U.S. corporations are sitting on more than a trillion dollars in foreign earnings that cannot be repatriated to the U.S. because of taxes. We need to stop taxing unpatriated funds to bring those earnings home. Better yet, we need to abolish the income tax altogether.
The U.S. economy is in deep trouble. Congress needs to act immediately to restore the rule of law and create an environment that rewards, rather than punishes, the critical components of any healthy economy: capital accumulation and investment.
In this struggling economy it is essential for politicians to take a step back and think about what government has been doing to business in this country. In less than 200 years, the free market, property rights, and respect for the rule of law took this nation from a rough frontier to a global economic superpower. Today, however, our nation and our economy clearly are headed in the wrong direction.
Of course, America has never enjoyed absolute free-market capitalism: creeping government intrusion and special interest political patronage have existed and increased since our founding. But America historically has permitted free markets to operate with less government interference than other nations, while showing greater respect for property rights and the rule of law. Less government, respect for private property, and a relatively stable legal environment allowed America to become the wealthiest nation on earth.
By contrast, the poorest nations almost always demonstrate hostility for free markets, private property, and the rule of law. Capital formation, entrepreneurship, credit, and wealth accumulation are uniformly discouraged in poor countries. Private contracts are not reliably enforced, and private property is not secure in the hands of owners. The predictable result is widespread poverty and misery.
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RESTORE AMERICA NOW! 2012
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Ron Paul 2012! Nero fiddled. Obama golfs. Vote for Ron Paul!
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Tell me more about Ron Paul’s ideas about the USA military role in the world.
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GO RON PAUL
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Beware the “Ron Paul Deniers,” they are most likely cowards, uninformed, or controlled by The Ruling Class. Freedom with responsiblity, which was what America was up until the 1960′s and The Great Society and all that it put in motion and America can be so again. Capitalism is the driving force behind ANY successful society. The best basket weaver in the village learns fast that people will pay MORE for his baskets and so on……………..Communal living is wonderful, the Church, the community can do most of the caring for those who need it………………Ron Paul is our last, maybe, best hope. Ron Paul for President 1012-2020.
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I hate to even contemplate the fate of this nation if the people don’t do whats right by makeing Ron Paul president in 2012
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RON PAUL MONEY BOMB CONTRIBUTE FOR LIBERTY
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RON PAUL MONEY BOMB CONTRIBUTE FOR LIBERTY
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I shaved my head to bring Ron Paul Awareness.
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BACKING THE USA DOLLAR BY GOLD WONT WORK
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BACKING THE USA DOLLAR BY GOLD WONT WORK
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After watching the YouTube video entitled RON PAUL SUPPORTS DONT ASK DONT TELL, we found it necessary to put the heat on Paul, and it’s working. Paul is changing his stance (Obviously with this pro-civil rights vote) and if we keep it up, he will support marriage civil rights for ALL Americans, not just some…but I do worry about his inability to communicate clearly, and his flip-flopping. Granted, actions are louder than words, but a president needs to be solid.
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After watching the YouTube video entitled RON PAUL SUPPORTS DONT ASK DONT TELL, we found it necessary to put the heat on Paul, and it’s working. Paul is changing his stance (Obviously with this pro-civil rights vote) and if we keep it up, he will support marriage civil rights for ALL Americans, not just some…but I do worry about his inability to communicate clearly, and his flip-flopping. Granted, actions are louder than words, but a president needs to be solid.
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After watching the YouTube video entitled RON PAUL SUPPORTS DONT ASK DONT TELL, we found it necessary to put the heat on Paul, and it’s working. Paul is changing his stance (Obviously with this pro-civil rights vote) and if we keep it up, he will support marriage civil rights for ALL Americans, not just some…but I do worry about his inability to communicate clearly, and his flip-flopping. Granted, actions are louder than words, but a president needs to be solid.
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i know how u feel, i never know what tone ppl r going 4 but i was being sincere and i’ll check the vid.
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i apologize but i am not a good ” reader” of people with just texts. I have dealt with too many sarcastic assholes.. I am assuming you’re being sincere in a complimentary way. I’ll check out your ” america unemployed” video . meanwhile perhaps you’ll consider checking out this video that damn near predicted how things would go from 2008 to now ” w w w . apathetic – usa . com” (of course without the spaces. and it may require flash..not sure) it’s around 20 to 30 min long.cheer
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very true, when the rich wage war it’s the poor who die.
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nice rant
very fulfilling.
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my very own vids on here= Show the RAW effects that unemployment are having on me and many other citizens, some with families, in this country. Please watch “America Unemployed” and the following vids on my playlist will show how things are progressing.
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2 people can’t stand the fact that they : 1 voted for barry seotoro and realized he’s just an other dumbass half black have white MORON that DOESN’T HAVE A DAMN CLue how to run a dairy queen in chicago let alone a nation. 2. still think the dual citizen deserves another chance to triple the national debt over the next 10 years with EMPTY stupid decisions on war and failed foreign policies, or 3. dumbass o ‘zombie or neo nazi mccain trolls that have nothing more intelligent to do with their time
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Hey guys it’s obvious that the media is not going to give Dr. Paul the attention he deserves and it’s good to come here to this site and encourage each other, but i’m encouraging everyone to start flooding their local newspaper websites, popular websites like New York times, USA Today, LA Times, MSNBC, FOX News, Cnn, Etc. Together we can flood these websites with truth, direct them to this site, Dailypaul.com Lewrockwell.com, Mises.org etc. don’t hide your light, alot of people on this site know the truth, now let’s go out there and educate the masses. Vote Ron Paul 2012
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Can Ron Paul be President? Only if WE give it our all. Unless you give your time, talent and money to this cause don’t expect it to happen. Dr. Paul can’t do it alone. It’s your life, your future. Decide and then live with that decision.
The Founding Fathers pledged “our lives, our fortunes and our sacred honor”. It will take nothing less today. Unless we are willing to go big we may as well stay home and wait for the worst. Let’s just do it. Give generously of your time, talents and money
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Can Ron Paul be President? Only if WE give it our all. Unless you give your time, talent and money to this cause don’t expect it to happen. Dr. Paul can’t do it alone. It’s your life, your future. Decide and then live with that decision.
The Founding Fathers pledged “our lives, our fortunes and our sacred honor”. It will take nothing less today. Unless we are willing to go big we may as well stay home and wait for the worst. Let’s just do it. Give generously of your time, talents and money
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Congressman Paul:
This is an essay I wrote and you are welcome to use it as long as my name and my website are included. I am wholeheartedly behind your ideas. You are a man of principle, not sound bites and propaganda gimmics (for example the media makes it look good and sound good to raise 23 foster children but REALITY is that it would be better to fund an orphanage so the children would get QUALITY UPBRINGING. A person cannot have a complex job like being full time in politics/congress and EFFECTIVELY RAISE 23 CHILDREN. There is something wrong with the judgement of someone who thinks they can do ALL OF THAT EFFECTIVELY. The media praises this and recommends this all as a great qualification for PRESIDENT! This is just one of the KIND of thing, the example being mine, which Ann Coulter refers to in her new book, “Demonic.”) You make sense. You are practically and analytically and realistically looking at what needs to be done to turn the direction of our country around. You have not been “compromised” by special interests. You are honest, etc……….Some days I feel like our country does not have the population with the capacity to know reality and truth and place the right people in office any longer. So many are taken in by sound bites and “image” rather than real SUBSTANCE. My essay follows……………………..
Essay on The Era of The American-International Banker Ponziophile (Pleonexiaphile) -June 2, 2011
The Wall Street Gang and The Big Banks Gang (American and International, IMF, World Bank et. al) have lied to us and stolen from us. It is as simple as that. The Regulator elements, such as The Fed (private) and the Federal regulators (public) and many elected officials have been The Facilitators in this Co-Dependency of Corruption……The Mainstream Media and The Neoconservative Media Lies to us about employment and other economic indicators, telling us how everything is improving……Not so.
Some years ago (not too many) individuals and then gradually (maybe not so gradually), as the “collective ethic” changed, Wall Street and The Big Bankers realized that there was MUCH MORE MONEY and money which could be made MUCH FASTER AND EASIER if they just by-passed employment and production of REAL GOODS AND SERVICES and just made money out of money (Because of powerful, unreasonable unions and government regulation, as well as some other factors, much of America‘s former economic might of goods and services has been exported offshore anyway)………Hence, the various “Instruments” were created: “Ponzi A” rated, “Ponzi B” rated and so on, going far down the line to “Ponzi Z,” rated bonds, thus creating 26 times the original wealth, let’s say (since there are 26 letters in the English Alphabet-36 letters in the Russian alphabet, take note).
Nothing will change SIGNIFICANTLY until these guilty people are investigated, prosecuted, convicted and put in jail. And they should not be put in Country Club Jails, like Bernard Madoff, but they should be put in REAL jails like the one where DSK recently resided, Riker’s Island. These people are “Ponziophiles” who have reeked havoc on The Entire World and have caused suffering and even death, to millions of individuals……………………
I am a capitalist. Capitalism is good but some men are not motivated by good, employing their capital and their ideas in helping others by creating employment and other positive contributions to society. These Ponziophiles have been consumed with Pleonexia, unbridled greed and covetousness, making/taking money out of other peoples’ money. This is not capitalism. This is “Ponziophilia,” and it is immoral, indecent and shameful.
There are some Good Men and Women who are trying to make this happen but until IT ACTUALLY DOES there will be little confidence in the “confidence men” of Wall Street, OR The Banks, OR The Fed, OR The Treasury OR “The Fantasy Island of Economic Indicators/Statistics.”
These people are “Ponziophiles” and should be sent to Riker‘s for Rehab! (You read “Ponziophiles” here first. I “coined“ the term today, as well as “Pleonexiaphiles.”) PUT GOLD AND HONESTY BACK INTO WALL STREET, THE BIG BANKS, OUR ELECTED OFFICALS, AND OUR CURRENCY.
………………………………Leo M. McCormick……………………………….
……………………………www.SilvertonGold.org……………………….
“I tremble for my Country when I reflect that God is just.”——Thomas Jefferson.
This essay is not endorsed by Ron Paul but I endorse Ron Paul for President 2012.……….”End the Fed”……….Back the Dollar with Gold………..
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Thank you Ron Paul!
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Thank you Ron Paul!
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Thank you Ron Paul!
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Thank you Ron Paul!
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If we want Ron Paul to win, I cannot stress the importance of voting in the 2012 primaries! Only a fraction of voters show up, so this is HUGE! Thumbs up to raise awareness!
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I consider myself very liberal and a Democrat. So let me tell you why I love Ron Paul. He makes sense. He is down-to-earth and honest. When he speaks you can tell he believes in what he is saying. I am a purist and what I hate more than anything is hypocrisy. There is not an ounce of that in this man. Many Republicans use scare tactics and go back on their ideology to get what they want accomplished and put money in their pockets. They trample on the constitution to achieve their ends. Of course Democrats do this too…they too reek of hypocrisy. If you want a capitalist society, stick with it and let that guide your ideology. If you want a socialist society, let that guide you. But don’t play both sides and confuse the American public about what kind of system we actually have. Ron Paul does not mince words…you know where he stands and that in all things he is guided by his belief in capitalism. I myself cannot say I have full faith in capitalism…which is what of course makes me a liberal Democrat, and admittedly a socialist. I too do not mince my words. However, I do realize that I live in a country that is capitalist, and if I don’t like it then I should probably leave rather than try to change it into something it is not. Right now our system is a hybrid…and how long can you really expect that to last. I do think that if/when this country converts to a pure capitalist economy, it will be hard. There will be workers exploited by corporations. There will be companies that overstep their bounds and pollute our environment, monopolize industries, etc. But the system will eventually work itself out over the years. People will vote with their dollars just like they are voting now for protecting the environment by buying hybrid cars…while our government gives socialist welfare to the rich oil and car companies to keep them in business when its obvious the American people don’t want them anymore. The real struggle in this country isn’t between the businesses and the workers. It’s between the extremely rich and the rest of us who give from our pockets to support them in their time of need. I say, if we don’t get hand outs, neither should they. And when the day comes that our capitalist system makes its transition back to its purest state, I hope Ron Paul is the one at the controls. Because he does not believe in capitalism for his gain or the gain of the rich. He believes in its ability to create a middle class that controls the economy with its dollars. Which is I must say, far far more idealistic than socialism. And the greatest leaders in history have all been idealists. Ron, I hope you get the nomination. Please help America open its eyes.
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Ron, I’m not sure the entire nation “GETS” it yet, but please, continue on! And while I’m hoping and praying (and voting) that you’re the next leader of our great and struggling country, if by some chance you’re not elected, please RUN again. Eventually, I think the truth will reach the majority and we can begin the process of rebuilding our crumbling nation.
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Cavemen fight with sticks & rocks, anyone heard of Revolution ? Ron Paul 2012
Smart people find sollutions to problems, end the mindless bs & start exploring the universe a far better use of our tax dollars if you ask me.
Go Ron Paul
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AGREE!!
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WAR, what is it good for? Only the rich.
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