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Ron Paul to chair Monetary Policy Subcommittee; federal reserve takeovahh
Topic Started: Thursday Nov 4 2010, 06:40 PM (163 Views)
Necrotrophic
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http://www.examiner.com/finance-examiner-in-national/the-fed-s-worst-nightmare-ron-paul-to-chair-monetary-policy-subcommittee
http://www.cnbc.com/id/40013227

Im not entirely sure what the full extent of his new job will entail(obviously dealing with monetary policy), but I know Ron wants more transparency in the fed, which is definitely a good thing. Hopefully he can get it done.

Im also wondering if Ron will turn out to be a hypocrite and support central banking, like Alan Greenspan did.

Also republicans are going to have to vote for raising the debt ceiling or face a potential world wide depression(assuming we default). This will include the fed printing more money probably.

I wonder if theyre going to stay with their nonsense principles and potentially cause world wide economic problems, or if were lucky a stroke of maturity will overcome the right and they will raise it. This obviously increases the debt but hopefully they spend money on investments that reap returns.

If they dont, and we do go into a world wide depression (assuming it would happen, in all honesty I havent researched it and im basically presenting arguments ive heard thus far) I suspect that you can pretty much kiss any kind of market economy good bye for good.
Edited by Necrotrophic, Thursday Nov 4 2010, 06:41 PM.
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famicommander
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You can't spend your way out of an economic issue. Raising the debt ceiling is a temporary fix that will hurt us more than it will help us in the long run.

The Republicans need to stop being all talk and actually CUT these wasteful programs, instead of blaming the Democrats for them and then not doing anything about it.

The only way we're going to right this ship is to stop spending and start deregulating.
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Necrotrophic
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Not true. You can make investments and have returns. If private citizens can spend their way to profit why can't a government? Most businesses don't make profit in the first two years either, and they are spending their way out.

Not raising the debt ceiling will have catastrophic results world wide. Now is not the time for libertarian talking points
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famicommander
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First, because the entirety of the federal government is completely imcompetent.

But second, because we aren't actually making investments. We're just going to be creating more and more debt because this money will just end up fueling the bureaucracy and result in more wasteful government programs. Inevitably, this leads to higher taxes and higher unemployment which just starts the retarded spending cycle over again.

Further, the more debt we have the less the US Dollar is worth. Which means the retards at the federal reserve print more money and we have inflation.

High inflation during a time when our GDP is more or less stagnant is already a terrible thing, but coupled with crippling debt and higher taxes, it's about as bad as it gets.
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Necrotrophic
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There are ways to make the federal government more efficient.

We are making investments. When the federal government gives a student loan so someone can goto college, that is an investment. The federal government has too many investments going on to name all of them. A big problem with these investments is that many of them are privately contracted out and that almost always ends up being more expensive.

Bureaucracies do not necessarily lead to more unemployment. Logically it should lead to higher taxes, but we often have people that try to use the laffer curve.

Inflation isnt as bad as a world wide depression, many governments can collapse as a result leading to serious civil unrest. Id rather have a lost decade than another great depression.
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clarionx
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I would think the obvious solution to this whole "national debt" thing would be to elect Libertarians, but the two party system needs to die in a fire, first.

More to the point of this discussion, though, it is possible to dig out of this whole by spending and making "profit" on these investments in the form of increased GDP. Unfortunately, the current, no-term-limit structure means that the current "investments" that pass are investing in getting re-elected, not investing in the country.
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Slayer706
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clarionx
Friday Nov 5 2010, 03:26 PM
I would think the obvious solution to this whole "national debt" thing would be to elect Libertarians...
Yeah, if there is no country then there can be no national debt. Brilliant!
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Necrotrophic
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clarionx
Friday Nov 5 2010, 03:26 PM
I would think the obvious solution to this whole "national debt" thing would be to elect Libertarians, but the two party system needs to die in a fire, first.

More to the point of this discussion, though, it is possible to dig out of this whole by spending and making "profit" on these investments in the form of increased GDP. Unfortunately, the current, no-term-limit structure means that the current "investments" that pass are investing in getting re-elected, not investing in the country.
Libertarians would cut social security, many many people would starve and die. Not to mention, social security also deals with public housing and disabled people. Youll end up having a lot of children living on the streets in their formative years warping their ability to function in our society. This is especially true because we have a society that has become used to this, immediately cutting them off doesnt make sense.

Dont even get me started on privatizing social security. what a mess that would be.

Yeah, I guess you could say unemployment would be lower, but then again we would all be working in sweat shops for $.25 an hour.

Science and engineering are the engines of prosperity, many scientific and engineering experiments(especially science) lead no where. Which is wasted capital. A business cant survive on this. So there really has to be a government involved in research, something almost all libertarians reject. Businesses usually either help fund government projects or simply reuse findings physicists discover (laser technology etc)

Most people would not accept libertarianism because their lives would be worse off. This is a perfectly rational position to hold.

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famicommander
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lolJoe
Denver Broncos: defending champs, 8-6, next game 12/25 @ Kansas City Chiefs
Colorado Rockies: 75-87, missed playoffs
Colorado Avalanche: 11-18-1, next game 12/20 @ Minnesota Wild
Denver Nuggets: 12-16, next game 12/20 @ Los Angeles Clippers
Colorado Mammoth: first game 12/30 @ Buffalo Bandits
Denver Outlaws: defending champs, first game 4/22 @ Charlotte Hounds
Colorado State Rams football: 7-5, next game Idaho Bowl 12/22 vs Idaho Vandals
Colorado State Rams basketball: 8-4, next game 12/22 vs Long Beach State 49ers
Winnipeg Blue Bombers: 11-7, lost West Division Semifinal
Denver Pioneers Lacrosse: first game 1/24 vs Johns Hopkins Blue Jays
#2 Denver Pioneers Hockey: 12-3-3, next game 12/30 @ Providence College Friars
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