-- Posted Friday, 25 January 2008 | Digg This Article
| Source: GoldSeek.com
Rick’s Picks
Friday, January 25, 2008
“Phenomenally accurate forecasts”
Details of the “stimulus package” led the evening news last night, providing Katie Couric with an opportunity to sound almost as dim-witted as those who are promoting this fiscal dirty bomb. What will it take before one of our network anchors lights upon the unspeakable truth – that the government’s apparent cure for debt deflation is to go another $150 billion into hock? We know exactly what it would take, actually: an appearance by Rep. Ron Paul on Couric’s show instead of the usual cavalcade of bozos the networks have come to rely on for “expert” economic analysis.
Unfortunately, while Paul may be entitled by Congressional protocol to grill the chairman of the Federal Reserve twice a year, Couric’s producers are unlikely to give him even sixty seconds of air time unless he becomes the Republican nominee for President.
Can you imagine the Congressman ambushing the preternaturally perky, wide-eyed Katie on the six o’clock news:
Couric: Will the stimulus package be big enough to work?
Paul: Work? For sure, if your goal is to destroy the dollar and cheat savers.
Couric: How would that happen?
Paul: The $150 billion stimulus is not being financed by taxes or savings, Katie -- the money would be created out of thin air, causing the dollar to weaken even more than it already has.
Couric: But even so, wouldn’t the spending of that money stimulate the economy enough to avoid a recession?
Paul: First of all, we are already in a recession. But even if the economy were healthy, how would borrowing $150 billion to binge on consumer goods help it in the long run? It is capital investment that creates real wealth, not consumption.
Couric: But consumers wouldn’t have to borrow anything. That’s the point of the stimulus – that it will be in the form of a tax rebate from the government, with no strings attached.
Paul: Where do you think the government gets its money, Katie?
Couric: I hadn’t…well…um…yes…I…well...
Editors Note: Ron Paul's newly announced Comprehensive Economic Revitalization Plan.
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Information and commentary contained herein comes from sources believed to be reliable, but this cannot be guaranteed. Past performance should not be construed as an indicator of future results, so let the buyer beware. Rick's Picks does not provide investment advice to individuals, nor act as an investment advisor, nor individually advocate the purchase or sale of any security or investment. From time to time, its editor may hold positions in issues referred to in this service, and he may alter or augment them at any time. Investments recommended herein should be made only after consulting with your investment advisor, and only after reviewing the prospectus or financial statements of the company. Rick's Picks reserves the right to use e-mail endorsements and/or profit claims from its subscribers for marketing purposes. All names will be kept anonymous and only subscribers’ initials will be used unless express written permission has been granted to the contrary. All Contents © 2008, Rick Ackerman. All Rights Reserved. www.rickackerman.com
-- Posted Friday, 25 January 2008 | Digg This Article | Source: GoldSeek.com
