Ron Paul Bail-Out Speech Video 12/10/2008

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DrKrbyLuv's picture
DrKrbyLuv
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Ron Paul Bail-Out Speech Video 12/10/2008

The US economic model is being shredded along with our constitution. There is clearly a power grab taking place and we the people are funding it with debt that we will never be able to repay. 

The toxic debt and liabilities of large private corporations are being moved from their balance sheet to ours - on purpose. When the system fails, we will be caught holding the bag. The result will be perpetual debt so massive that we will struggle just to meet the interest obligations yet alone pay down any principle. This debt will transcend our generation. 

What is wrong with our society that we allow new born Americans to instantly become enslaved in debt through citizenship?

 

Set's picture
Set
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Re: Ron Paul Bail-Out Speech Video 12/10/2008

Bravo.  At least one man gets it.

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Michael Höhne
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Re: Ron Paul Bail-Out Speech Video 12/10/2008

I'd like to see the entire video but it hangs after 56 seconds. Anyone knows about a transcript?

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DrKrbyLuv
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Re: Ron Paul Bail-Out Speech Video 12/10/2008

Sorry Michael, you might want to try this direct link: 

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Re: Ron Paul Bail-Out Speech Video 12/10/2008

Ron Paul gets it.

 

He's been my dream candidate since I first heard about him in the primary.  He was the only candidate supporting actual, substantive CHANGE (to use a catch word).  Obama, McCain, merely different versions of the same ideology.

 You can be brilliant and still be wrong.  I only hope Obama is bright enough to enlist people who understand and can effect some kind of positive transition.  Politicians are that--politicians.  Obama doesn't have a PhD in economics, he has a JD from Harvard.  At least Ron Paul has studied Austrian Economics and sees the inherit problems with Keynesian theory.

 Right now they're trying to preserve the status quo at all costs.  It has to completely fail before people will start to look for alternative paradigms.

 

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Re: Ron Paul Bail-Out Speech Video 12/10/2008
Michael Höhne wrote:

I'd like to see the entire video but it hangs after 56 seconds.

Same here, download the video using this link.

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Re: Ron Paul Bail-Out Speech Video 12/10/2008

How is it that Ron Paul seems like the only one who "gets it".

My rhetorical objection is:  What's wrong with partly or fully nationalising industries?  Better yet, what's wrong with Nationalism itself?

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DrKrbyLuv
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Response to: caroline_culbert

You will find many who agree with the nationalization of once private industries- communism or socialism by design. A tenet of our capitalistic system has been that the private sector can better run companies than the government - for example, look at the VA hospitals.

History has shown in the past that capitalism provides greater prosperity and freedom for the people. This is a judgement call and if you prefer the government to own and run our industries, I respect your right to come to that conclusion.

I would not call our current system capitalism as there is far too much manipulation and intervention which is contrary to a free market capitalistic system - it is corrupt.

As far as nationalism - or patriotism, I agree it is a valuable attribute for any society. 

 

 

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Re: Ron Paul Bail-Out Speech Video 12/10/2008
brandenism wrote:

Ron Paul gets it.

 

 Right now they're trying to preserve the status quo at all costs.  It has to completely fail before people will start to look for alternative paradigms.

 

Agree, As bad as it will be it is better for it to fail than allowing more of the same old crap. On a brighter side, the sooner TSHTF the better the shape of the planet for those that emerge on the other side. This may just be wishful thinking but tonight it seems so!

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Re: Ron Paul Bail-Out Speech Video 12/10/2008
caroline_culbert wrote:

How is it that Ron Paul seems like the only one who "gets it".

My rhetorical objection is:  What's wrong with partly or fully nationalising industries?  Better yet, what's wrong with Nationalism itself?

Caroline,

I may be off base here but a country with nationalized industry is basically a country whose GDP is owned by the government. That seems like a bad idea if we want a free market society. 

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Peter Schiff does it again.

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krogoth
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Re: Peter Schiff does it again.

A Michigan trained monkey vs. Peter Schiff, I love it!

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Thanks for the link castlewp

I really would hate to see GM and Chrysler go...but I don't know that anyone can play god in deciding which failed companies are allowed to continue and which aren't. I was strongly opposed to all previous bail-outs but have a soft spot, which is not based on logic or fairness, for our car companies. I have to suspect that there are many entrepreneurs standing by waiting to serve the huge demand for autos in the US - I guess this is free market capitalism.

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caroline_culbert
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Re: Thanks for the link castlewp
DrKrbyLuv wrote:

I really would hate to see GM and Chrysler go...but I don't know that anyone can play god in deciding which failed companies are allowed to continue and which aren't. I was strongly opposed to all previous bail-outs but have a soft spot, which is not based on logic or fairness, for our car companies. I have to suspect that there are many entrepreneurs standing by waiting to serve the huge demand for autos in the US - I guess this is free market capitalism.

I could understand if the taxpayers had money to lend, but we don't have it.  Bailouts should never have been an option.  Did they ask for bailout money because the banks wouldn't loan money?  Have the banks loosened their purse strings?  Or is it too late for GM to obtain loans?

This is the order I remember GM talking about their cash:

1.  They might not have enough cash to make it through to the end of 2009

--------------By blowing through $2 bil a month that leaves them with approx 24 bil to make it through 2009

2.  They might have enough cash to get through the first half of 2009

--------------They're still blowing through $2 bil a month but now they only have 1/2 that amount?

3.  They probably wont make it to the end of the year

--------------Still blowing through approx $2 bil a month but now they only have a few months worth of cash?  Where'd all their money go?

4.  They might not make it through the holidays

--------------Again, unless they were blowing through $5-10 bil a month, they should have close to 20 bil remaining

5.  Where did all their money go to?

This is what I heard/saw, on the news, within a few weeks time.  How much do they have and why are they trying to make deals with the gov. when they have enough money... but claim they don't.

6.  They know very well they could file for bankruptcy but I'm assuming they didn't want to lose their assets.  Something is seriously fishy around here.

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DrKrbyLuv
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Re: caroline_culbert

Well said, I can't argue with your logic.

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Re: Ron Paul Bail-Out Speech Video 12/10/2008

Many are not in favor of this Bailout that will cause debt deepening not stimulation of economy. This is something to do with the plans that were proposed, we can see the result that it cannot repair the trouble but we are now in the great depression. IBERIA and Northern Trust Bank are both giving back the funds that they accepted as part of the TARP bailout program, claiming that they never needed the money in the first place.  Both banks have said that they only accepted the funding in the spirit of cooperation with the government programs giving aid to financial institutions.  IBERIA recently came out with a statement to the effect that accepting TARP funds would put them at a disadvantage.  It’s admirable that they are giving the money back, but why would they take bailout money in the first place? There are several banks that are looking into giving their bailout funds back.

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Re: Response to: caroline_culbert
DrKrbyLuv wrote:

You will find many who agree with the nationalization of once private industries- communism or socialism by design. A tenet of our capitalistic system has been that the private sector can better run companies than the government - for example, look at the VA hospitals.

History has shown in the past that capitalism provides greater prosperity and freedom for the people. This is a judgement call and if you prefer the government to own and run our industries, I respect your right to come to that conclusion.

I would not call our current system capitalism as there is far too much manipulation and intervention which is contrary to a free market capitalistic system - it is corrupt.

As far as nationalism - or patriotism, I agree it is a valuable attribute for any society. 

 

 

 I think recent events have proven that private doesn't always run companies better.  As I've said before, one should becareful with absolute statements.  On the other hand, too much government involvement is a bad thing.  Everything in balance.  There are fundamental flaws in each system & pure capitalism & pure socialism don't work.  A blend is best. 

 What we've seen recently is pure greed from those 'in power & industry leaders'.  Politicians funded by industry is a conflict of interest when discussing a govt of the people for the people.  Governments role is to regulate & oversee with the best interests of the majority (from which they were elected).  We've let the kids run amuck in the candy store for too long & look at the transfer of wealth that has happened.

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