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Jim's Quote of the Day:
"The financial meltdown the economists of the Austrian School predicted
has arrived. We are in this crisis because of an excess of artificially created
credit at the hands of the Federal Reserve System. The solution being proposed?
More
artificial credit by the Federal Reserve. No liquidation of bad debt and malinvestment
is to be allowed. By doing more of the same, we will only continue and intensify
the distortions in our economy - all the capital misallocation, all the malinvestment
- and prevent the market's attempt to re-establish rational pricing of houses
and other assets." - Congressman Ron Paul, My
Answer to The President. (See also the short video
clip of Ron
Paul's address before congress on corporatism
and the destruction of the dollar.)
