michaelwise
01-19-2008, 11:32 PM
Dr. Paul does not sugar coat the truth, and now is the time his speeches should address the biggest problems facing Florida, California, and the rest of the economy.
The next speech should include something like this.
The Florida real estate market is a disaster and the economy is going to get worse. Household wealth destruction due to falling property values has wiped out billions of dollars of peoples equity. Tens of thousands of construction jobs have been lost. Commercial construction is now showing signs of stress and additional jobs will be lost. Tens of thousands of foreclosures are happening an an accelerated rate and families are loosing their homes. Credit card delinquencies and auto repossessions are way up. Sales tax and other revenues are way down. Florida will have a revenue shortfall in fiscal '08 of 2.5 billion dollars or more. Layoffs of state and local workers are on the way. Social programs will be cut and additional layoffs will ensue as the economy gets weaker. This is not just occurring in Florida, but in many states in this country, and it's not going to get any better unless you figure out why it happens and do something about it.
I do not paint a rosy picture of the near term future for the economy because doing that won't make the problems go away. I have written many books on the economy, and have studied the subject for over 30 years. The root cause of all the inflation and the booms and busts in our economy can be traced back to 1 non government agency, The Federal Reserve. The boom times that they create are a lot of fun but the hangover that follows should have us saying, never do that again. The suffering that follows is quite devastating to individuals and families, and the pain that it inflicts makes the boom times, not worth it.
We need to understand that in a sound momentary system, the business cycle would be smoothed out and we would not have to go through events like the dot-com bust and the mother of all real estate busts we are experiencing today.
Something like this will get people fired up and interested in taking a look at his monetary policy which will go a long way to create a lasting solution to our current crisis. Dr. Paul could talk about the bill he introduced to abolish the Federal Reserve even before the housing bubble got started.
What do you think?
The next speech should include something like this.
The Florida real estate market is a disaster and the economy is going to get worse. Household wealth destruction due to falling property values has wiped out billions of dollars of peoples equity. Tens of thousands of construction jobs have been lost. Commercial construction is now showing signs of stress and additional jobs will be lost. Tens of thousands of foreclosures are happening an an accelerated rate and families are loosing their homes. Credit card delinquencies and auto repossessions are way up. Sales tax and other revenues are way down. Florida will have a revenue shortfall in fiscal '08 of 2.5 billion dollars or more. Layoffs of state and local workers are on the way. Social programs will be cut and additional layoffs will ensue as the economy gets weaker. This is not just occurring in Florida, but in many states in this country, and it's not going to get any better unless you figure out why it happens and do something about it.
I do not paint a rosy picture of the near term future for the economy because doing that won't make the problems go away. I have written many books on the economy, and have studied the subject for over 30 years. The root cause of all the inflation and the booms and busts in our economy can be traced back to 1 non government agency, The Federal Reserve. The boom times that they create are a lot of fun but the hangover that follows should have us saying, never do that again. The suffering that follows is quite devastating to individuals and families, and the pain that it inflicts makes the boom times, not worth it.
We need to understand that in a sound momentary system, the business cycle would be smoothed out and we would not have to go through events like the dot-com bust and the mother of all real estate busts we are experiencing today.
Something like this will get people fired up and interested in taking a look at his monetary policy which will go a long way to create a lasting solution to our current crisis. Dr. Paul could talk about the bill he introduced to abolish the Federal Reserve even before the housing bubble got started.
What do you think?