Ron Paul Warns Against Runaway Inflation

Congressman Ron Paul gives an interview on FoxBusiness earlier this week, warning against the dangers of runaway inflation and criticizing the policies of the Obama Administration and Federal Reserve Chairman Ben Bernanke.

Curiously, at 1:18 he says that it's a good thing (or at least it seems from the video- the most reasonable thing) for the U.S. government to pay off its astronomical debt through inflating the money supply. Huh? I thought he was against that. And he does immediately seem to contradict himself a moment later by saying how bad inflation is and how much better it would be to cut spending and simply pay off our debt with revenues.

Can someone help me figure this out? Any big Ron Paul fans/apologists who might have an insight into what he meant? Was that a slip up when he said it's a "good thing" for government to liquidate debt by printing money? Or did he mean it and have some solid, though somewhat sophisticated reasoning behind it? Or is he just plain wrong and confused here? Thoughts anybody?

I am a pretty big Ron Paul fan myself, so I'd kind of like to figure this out. Puzzling.

Tax Bill Is Beginning of Formal Debt Criminalization

The noose is tightening on liberty. The United States Congress is steadily headed to a place where those who owe money to the US government shall be treated criminally. This phenomenon is advancing domestically and now, increasingly, internationally. The first shot in this latest campaign took place in 2010 when US President Barack Obama signed into law The Foreign Account Tax Compliance Act. It demanded, basically, that foreign banks withhold up to 30 percent of the income that an American abroad might earn. This bill isn't working so well because overseas banks are not cooperating (a state of affairs that was certainly expected). Thus, there is a need for something else: Senate Bill 1813, recently introduced by Senator Barbara Boxer (D-CA). This bill, in part, states that taxpayers with unpaid taxes over US$50,000 may find their passports confiscated. This isn't criminal per se, but the IRS has recently made noises about "sharing" information with police a...

Thomas Sowell Returns

By: Thomas Winslow Hazlett Reason

How To Cripple The Real Estate Market In Five Easy Steps

If the government and the banks had just allowed real estate prices drop to market equilibrium, we'd be out of this mess and housing would truly be affordable. But the government is determined to artificially prop up housing prices, whatever the cost to the economy. If you were head of Central Planning (howdy, Ben!) and were tasked with crippling the real estate market, here's what you would recommend. Choke the market and banking sector with zombie banks... Have the central bank (the Federal Reserve) buy up $1 trillion in toxic, impaired mortgages... Lower the rate that banks can borrow from the Fed to zero, and then pay the banks interest on all funds deposited at the Fed... Try to prop up the housing market by giving poor credit risk buyers loans with only 3% down... Load young people up with the equivalent of a mortgage in student loans... OK,let's see how our Organs of Central Planning are doing: check, check, check, check, check: a perfect score! they're...

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