The National Financial Crisis… and the One Sane Voice
The financial crisis in the US is going to get worse, much worse. The current crisis is largely due to the fact that there has been too much liquidity in the market. Basically the cost of money has been too cheap for too long, and that has lead to the overvaluing of assets and a mass speculation that perpetual growth is a replacement for sound business principles.
More simply, EVERYONE got greedy because they had access to so much money that didn’t have to get paid back for a long time, and when it did have to get paid back it was at historically low interest rates. This fueled a much larger underlying issue our country has been facing for the last 3 decades, the dollar is not longer tied to the gold standard. This means that the government literally prints more money as it “needs it”.
The largest danger to the US is not terrorism, its our economic policy, and we are all unfortunately in for a rough time ahead. I’ve only heard one public figure speak with any clarity, moral authority, and common sense. Ron Paul may not be on the presidential ticket anymore, but he is a lone voice in a sea of morons, cowards, lemmings, and apathetic bystanders.
I’ll write much more on the issue but for now, this is the most important video I can share and our friend Ron explains it much better than I can.
September 28th, 2008 at 11:15 am
[...] The National Financial Crisis: In his blog, Jason Nazar calls former presidential candidate Congressman Ron Paul, the one sane voice. He offers the video evidence. [...]
September 28th, 2008 at 4:11 pm
[...] Jason Nazar’s Blog « The National Financial Crisis… and the One Sane Voice [...]
October 19th, 2008 at 4:35 pm
Your observation that the “largest danger to the US is not terrorism, its our economic policy” is absolutely correct! You are also correct that Rep. Ron Paul is the “one sane voice.”
Keep blogging. I enjoy reading your posts.
November 12th, 2008 at 6:00 pm
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