Ron Paul on Austrian Economics vs. Keynesian Economics »
Posted By liberty888 7 months, 3 weeks ago in Political NewsJoe Scarborough: Well, I think it’ s great theater and all this excitement over the torture and the CIA, I think, is very beneficial because it distracts from the steamroller of big government going on in Congress, and hopefully it will be beneficial.
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tadair9197 months, 2 weeks ago
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Five years before the collapse, Ron Paul had this to say on September 10th, 2003.
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“The special privileges granted to Fannie and Freddie have distorted the housing market by allowing them to attract capital that they could not attract under pure market conditions. Like all artificially created bubbles, the boom in housing prices cannot last forever. When housing prices fall, homeowners will experience difficulty as their equity is wiped out. Furthermore, the holders of the mortgage debt will also have a loss. These losses will be greater than they would have otherwise been had government policy not actively encouraged over-investment in housing,”
Mika Brzezinski: Oh, my God.
...
Joe Scarborough: Can you all believe this prediction in 2003?
Mika Brzezinski: Yes, that is, I mean, prophetic, absolutely prophetic.
Joe Scarborough: Talking to everybody in the banking committee and telling them, “Hey, we’re in trouble. Let’s not go this direction.”
Mika Brzezinski: Right.
Joe Scarborough: What are we going to do?
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