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View Full Version : Ron Paul on the Bailout - Mike Church (10/8)




Lucille
10-09-2008, 05:01 PM
Ron Paul on the Bailout (http://www.mikechurch.com/joomla/daily-show/ron-paul-on-the-bailout.html) (Audio)

http://www.mikechurch.com/joomla/images/stories/ronpaul1.jpg


The great Ron Paul is one of the few voices of reason on Capitol Hill concerning this massive bailout of the financial markets. His focus on the stability of the dollar is the missing piece of the puzzle so often overlooked by the so called financial experts in the media who are formulating their own solutions to the economic chaos.

The inflationary effects of a bailout that is to be funded by an additional $700 billion in deficit spending should be of grave concern to those who wish for that

Ron Paul is also a leading voice of deregulating the credit markets. Of course we are all in favor of basic laws to prevent fraud and theft, but the extensive regulation by the federal government into the free market is the SOURCE of all our financial problems and most certainly not be solved by more government intervention.

The fact that the government/taxpayer is the financial backstop for loosely granted credit only encourages the lenders to make reckless loans to irresponsible borrowers. The free market never guarantees the absence of risk. To the contrary, risk is the essential counterweight that motivates businesses to be responsible and frugal with their capital.

Once you alleviate the risk, you alleviate the necessity for responsibility.

Sadly, both candidates seem to be unaware of these basic principles of a free market system, so the need for vigilance by those who know better (you and me) is the only thing standing between us and socialism.

During the primaries, Mike was one of the few conservative radio hosts who was (and still is) a fan.