ft.com — Pension trustees and insurance company portfolio managers look away now. Your increased commitment to government bond holdings in recent times is about to blow up spectacularly. At least, that is the view of Ron Paul, the US congressman who ran against John McCain in last year’s Republican Party presidential nomination.
Mar 22, 2009 View in Crawl 4
inoblaMar 23, 2009
More truth? Like what? Saying he predicted 24 of the last 3 recessions?
unreal030Mar 23, 2009
Do you guys even know what the Republican party and the conservative spectrum represented back in the old days. He is more a Republican than anything in the historical sense. You guys need to do some American History research.
ipushmycarMar 25, 2009
A 15 year depression wouldn't surprise me in the slightest. The way the government is run these days is terrible. We hit a recession, and they do NOTHING new to try and get us out of it. Instead, do the same s**t over and over again. Waste billions of dollars, continue supporting campaigns that suck up money and have no successful future, and to fix this they simply print more money. It's disgusting, this country is NEVER going to see a bright and sunny day unless things "change". The public knows this and voted for a president who promised change, however will change nothing.That, and growing threats with foreign countries means our military isn't going to come home anytime soon. Let's face it, America's greed and corruption finally caught up with itself.
cheezinternMar 25, 2009
He isn't. He's a medical doctor. It doesn't take a genius to predict an upcoming recession, just like it doesn't take a genius to predict an eventual recovery and boom, only to be followed by another recession.
zzekeMar 25, 2009
@futuretense: Maybe for you it's about credibility, but obviously the vast majority of voters don't even take credibility into account, which is obvious when you look at the outcomes of the last few elections. People continue to vote for politicians who have lied, misled, or deliberately misrepresented themselves, and that includes Obama. Bush and credibility don't even belong in the same sentence, and Obama's voting record seems to contradict his rhetoric more often than not, let alone his actions in office so far. Being an atheist, I totally understand where you're coming from when you cite belief in creationism as showing a lack of credibility. Just like you, I feel that creationism is bulls**t, and those who give it credence are fooling themselves. Still, though - so much of what Paul says makes sense that I'm willing to give the guy the benefit of the doubt before I dismiss him over personal beliefs. I also understand why people feel that a gold standard is too rigid, but since the banks are currently in charge, I don't see us getting a regulatory agency with teeth, or integrity for that matter, any time soon. We have a Fed Reserve chairman as treasury secretary, for crissakes! Any steps taken to regulate or limit the power of the banks will be rendered toothless or ineffective, either by design or by installing more finance sector cronies to oversee it. So, while I agree that gold may not be the perfect answer, I stand in total solidarity with Paul when he speaks of abolishing the Federal Reserve. It seems that your opposition to Paul is based more on certain issues than actual credibility - which is fine, everyone has a right to their own beliefs and political positions. At least your input allows conversation and looks at issues in realistic terms, which is more than can be said for a lot of folks who don't support Ron.
themahdiMay 9, 2009
That was all rhetoric, everybody knew that except the fringe elements that he needed to appease. Hell even if Obama turned out to be GEORGE BU$H'S THIRD TERM, I'd still prefer him to Doctor Congressman Ronald Superman Dr. Paul.
folksieMay 20, 2009
Yeah, that's why nations are dumping our currency when trading between other nations at an ever increasing pace.<a class="user" href="http://www.ft.com/cms/s/0/996b1af8-43ce-11de-a9be-00144feabdc0.html?nclick_check=1">http://www.ft.com/cms/s/0/996b1af8-43ce-11de-a9be- ...</a>
govtdoesnotworkMay 20, 2009
He's saying there are & will be more dollars chasing the same number of stocks, acres of land, ounces of gold, etc. so I'm not sure how one day's stock movement (especially UP -- MORE dollars chasing the goods, right?) says anything useful. And the fact remains that over the long term, Austrian Economics tends to be RIGHT, because reality has a libertarian bias.
omegatrumpJun 1, 2009
Fiat Currency is a bad idea, well, for one reason, just look at what is happening today. Worthless paper, like for instance Pesos in the 80's, they just added 3 0's to the number to cancel the government debt. Printing press currency, come on JSavage...Sheeesh.
jaxxbatSep 21, 2009
Strange rational..
jaxxbatSep 21, 2009
LOL.. 6 cents on the dollar is nothing to bragg about .. The gold standard kept the dollar strong and the value of Americn citizenship high.. Do any of you value your citizenship?, buying power? value of your land and home ? .. I wanna scream when i see liberal college educated people so misguided ..
jaxxbatSep 21, 2009
Gevalt... Explain why a new Chevy costs $3k in 1968 and $30K in 2008..
jareth86Sep 21, 2009
Well considering he made this at the height of the collapse, and we now seem to be pulling out of it, I'd say I was right on the money not to trust his ravings.I guess he'll just have to go back to trying to put prayer in public schools. You know, to give us all the freedom to pray to the christian god ;)