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View Full Version : Ron Paul's Statement at JEC: The Land Of Make Believe




michaelwise
07-15-2010, 11:11 PM
"Confidence" in the markets today is just like living in The Land Of Make Believe.
It's maintaining an irrational belief in an intangible concept that all is well.
Pretending something is not as bad as the reality of the situation would suggest, doesn't make the actual situation any better.

Welcome to fantasy land economics, where every thing is better if we just change the formulas for determining what the current situation is.

Add Social Security to the general fund. Poof, we're now spending half of what we used to. Change the mark-to-market accounting rules, the bad debt goes away. Change the formula for the unemployment rate, we now have 7% less unemployment. I could go on and on.

Thank God we are now out of accounting tricks. Let the complete and total economic collapse commence.

YouTube - Statement at JEC Hearing July 14, 2010 (http://www.youtube.com/watch?v=JpQ-iWW5GEs)

YouTube - Moody Blues: The Land Of Make Believe (http://www.youtube.com/watch?v=KsWSXDAAOxU)

someperson
07-16-2010, 12:18 PM
Thanks for the video, Michael :)