Ron Paul: What does he say in this speech?

[NewUser]

Hi all, I just listened to this speech, but I can't quite understand what Dr. Paul is saying. I'm writing this quote down so I can look at it again in the future.

Here's the quote I've written down: “Sound economic growth is based on savings and investment, deferring consumption today in order to consume more in the future. Everything the Fed is doing is exactly the opposite: engaging in short sighted policies in an attempt to spur consumption today which will lead to a depletion of capital, a crippling of the economy and the impoverishment of future generations.”


After "a depletion of" does he say capital? It sounds like he's saying capable. Does anyone have a transcript?

Link: Go to 3:30:
http://www.youtube.com/watch?v=ptpsYiUhNWU&list=PLEr2hOj4Dhz2Akj3-kkAg_SvSxFlIfmvM&index=45

Thanks!

[satchelmcqueen]

i think he means capital. sometimes ron slurs his words or trips up a bit.

[ZENemy]

i think he means capital. sometimes ron slurs his words or trips up a bit.

I think you are right!



Sorta seems like this would make no sense:

"engaging in short sighted policies in an attempt to spur consumption today which will lead to a depletion of capable, a crippling of the economy and the impoverishment of future generations.”

[dannno]

Capital makes sense.