Ron Paul: Bailout Bill Guarantees A Depression
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- Submission
Ron Paul: Bailout Bill Guarantees A Depression
Ron Paul’s address to Congress, Oct. 3, 2008 “Madam Speaker, I rise in strong opposition to this bill, because it won’t solve our problem. It is said that we’re in a liquidity crisis and a credit crunch, and all we need is more credit. The Federal Reserve has already injected over a trillion dollars worth of credit, and it hasn’t seemed to help a whole lot. Injecting another 600 or 700 billion dollars will not solve the problem. I think one of the reasons why we’re floundering around here is that we don’t understand the problem, because instead of it being a credit crunch I think a lot more serious than that and that is, I think what’s happening in the market today is signalling something much more draconian. Because it’s probably telling us that our government is insolvent, that we’re on the verge of bankruptcy, and big things are starting to happen, and we don’t quite understand it, so we fall back on the old cliches: What we need is more appropriations, more spending, more de
Submission | October 3, 2008
