U.S. Rep. Ron Paul | economic downturn |
economic downturn
Higher Education Amendments of 1998
6 May 1998 1998 Ron Paul 49:3
Federal spending, and thus federal control, are dramatically increased by HR 6. The entire bill has been scored as costing approximately $101 billion dollars over the next five years; an increase of over 10 billion from the levels a Democrat Congress Congress authorize for Higher Education programs in 1991!. Of course, actual spending for these programs may be greater, especially if the country experiences an economic downturn which increases the demand for federally-subsidized student loans.
economic downturn
A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:57
Today there is no serious effort to challenge welfare as a way of life, and its uncontrolled growth in the next economic downturn is to be expected. Too many citizens now believe they are entitled to the monetary assistance from the Government anytime they need it and they expect it. Even in times of plenty, the direction has been to continue expanding education, welfare, and retirement benefits.
economic downturn
The Dollar And Our Current Account Deficit
May 16, 2000 2000 Ron Paul 37:1
* Fiat money, that is, money created out of thin air, causes numerous problems, internationally as well as domestic. It causes domestic price inflation, economic downturns, unemployment, excessive debt, (corporate, personal and government) mal-investment, and over capacity — all very serious and poorly understood by our officials. But fluctuating values of various paper currencies cause all kinds of disruptions in international trade and finance as well.
economic downturn
CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC —
February 07, 2001 2001 Ron Paul 7:40
For several years, we’ve heard the endless nostrum of a technology and productivity-driven new paradigm that would make the excesses of the 1990s permanent and real. Arguments that productivity increases made the grand prosperity of the last six years possible were accepted as conventional wisdom, although sound free-market analysts warned otherwise. We are now witnessing an economic downturn that will, in all likelihood, be quite serious. If our economic planners pursue the wrong course, they will surely make it much worse and prolong the recovery.
economic downturn
CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC —
February 07, 2001 2001 Ron Paul 7:45
In an economic downturn, a large majority of our political leaders believe that the ill effects of recession can be greatly minimized by monetary and fiscal policy. Although cutting taxes is always beneficial, spending one’s way out of a recession is no panacea. Even if some help is gained by cutting taxes or temporary relief given by an increase in government spending, they distract from the real cause of the downturn: previously pursued faulty monetary policy. The consequences of interest-rate manipulation in a recession-along with tax and spending changes-are unpredictable and do not always produce the same results each time they’re used. This is why interest rates of less than 1% and massive spending programs have not revitalized Japan’s economy or her stock market. We may well be witnessing the beginning of a major worldwide economic downturn, making even more unpredictable the consequence of conventional western-style central bank tinkering.
economic downturn
The Economy
February 13, 2001 2001 Ron Paul 13:6
Instead of blind faith in the Federal Reserve to run the economy, we should become more aware of Congress’s responsibility for maintaining a sound dollar and removing the monopoly power of our central bank to create money and credit out of thin air and fix short term interest rates—which is the real cause of all our economic downturns.
economic downturn
Addressing Monetary Problems
22 March 2001 2001 Ron Paul 23:10
If he had been seriously concerned about the exuberance getting out of control in 1996, he might have considered not inflating the currency quite so rapidly, not devaluing the money quite so rapidly. But what has he done since that time? The Federal Reserve has literally created $2.3 trillion of new money since 1996, further creating a bigger bubble, which eventually had to collapse, and that is what we are in the midst of. It can be tough. It is going to be tough for a lot of people. We can have this economic downturn, and this means jobs and a standard of living that will be threatened.
economic downturn
The US Dollar and the World Economy
September 6, 2001 2001 Ron Paul 75:21
Economic growth can hide the ill effects of monetary inflation by holding some prices in check. But it can’t prevent the over-capacity and mal-investment which causes the economic downturn. Of course, the central bankers cling to the belief that they can somehow prevent the ugly corrections known as recessions. Economic growth, when artificially stimulated by monetary growth and low interest rates, generates the speculation we’ve seen in the stock, bond and real estate markets, along with excessive debt. Once the need for rectifying the over-capacity is recognized by the market, these imbalances are destined to be wiped out. Prolonging the correction phase with the Fed’s efforts to re-inflate by diligently working for a soft landing, or even to prevent a recession, only postpones the day the economy can return to sustained growth. This is a problem the United States had in the 1930s and one that Japan has experienced for more than a decade, with no end in sight.
economic downturn
Sometimes The Economy Needs A Setback
10 September 2001 2001 Ron Paul 77:3
Those genuinely interested in understanding the most recent economic downturn will do well to read and contemplate Mr. Grant’s article.
economic downturn
The Case For Defending America
24 January 2002 2002 Ron Paul 1:9
It is just as well that the economy was already in a recession for 6 months prior to the September attacks. Otherwise the temptation would have been too great to blame the attacks for the weak economy rather than look for the government policies responsible for the recession. Terrorist attacks alone, no matter how disruptive, could never be the source of a significant economic downturn.
economic downturn
Stimulating The Economy
February 7, 2002 2002 Ron Paul 5:4
Today, we hear from strong advocates of higher taxation, increased spending, higher budget deficits, tougher regulations, bailouts and all kinds of subsidies and support programs as tools to restore economic growth. The Federal Reserve recognized early on the severity of the problems and, over the past year, lowered short-term interest rates an unprecedented 11 times, dropping the Fed funds rate from 6 1/2 % to 1 3/4 %. This has not helped, and none of these other suggestions can solve the economic problems we face either. Some may temporarily help a part of the economy, but the solution to restoring growth lies not in more government but less. It is precisely too much government, and especially manipulation of credit by the Federal Reserve, that precipitated the economic downturn in the first place. Increasing that which caused the recession can’t possibly, at the same time, be the solution.
economic downturn
Predictions
24 April 2002 2002 Ron Paul 25:14
Price inflation, with a major economic downturn, will decimate U.S. Federal Government finances, with exploding deficits and uncontrolled spending.
economic downturn
25 July 2002
Monetary Practices 2002 Ron Paul 78:2
As the authors point out, our ability to understand the linkage between inflated money supplies and subsequent economic downturns is owing to the ground breaking work of the legendary economists of the Austrian school. This Austrian Business Cycle (or “ABC”) theory has long explained the inevitable downside that attends to a busting of the artificial bubble created by inflationary fiat monetary practices.
economic downturn
The Price Of War
5 September 2002 2002 Ron Paul 83:58
I am convinced, though, that eventually restraint in our interventions overseas will be guided by a more reasonable constitutional policy. Economic reality will dictate it. Although political pressure in times of severe economic downturn and domestic strife encourages planned distractions overseas, these adventures always cause economic harm due to the economic costs. When the particular country or empire involved overreaches, as we are currently doing, national bankruptcy and a severely weakened currency call the whole process to a halt.
economic downturn
Abolishing The Federal Reserve
10 September 2002 2002 Ron Paul 86:3
From the Great Depression, to the stagflation of the seventies, to the burst of the dotcom bubble last year, every economic downturn suffered by the country over the last 80 years can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial “boom” followed by a recession or depression when the Fed-created bubble bursts.
economic downturn
Republic Versus Democracy
29 January 2003 2003 Ron Paul 6:16
Chronic concern about war and economic downturns events caused by an intrusive government’s failure to follow the binding restraints of the Constitution allowed majority demands to supercede the rights of the minority. By the end of the 20th century, majority opinion had become the determining factor in all that government does. The rule of law was cast aside, leaving the Constitution a shell of what it once was, a Constitution with rules that guaranteed a Republic with limit and regional government and protection of personal liberty.
economic downturn
Republic Versus Democracy
29 January 2003 2003 Ron Paul 6:42
Some of the planners of today clearly understand the process. And others, out of ignorance, view central bank money creation as a convenience with little danger. That is where they are wrong. Even though the wealthy and the bankers support paper money, believing they know how to protect against its ill effects, many of them are eventually dragged down in the economic downturns that always develop. It is not a new era that they have created for us today, but more of the same endured throughout history by so many other nations.
economic downturn
War No Excuse For Frivolous Spending
3 April 2003 2003 Ron Paul 46:1
Mr. PAUL. Mr. Chairman, at a time of war Congress has no more important duty than to make sure that our military force have all the resources they need. However, Congress also has a duty to not use the war as cover for unnecessary and unconstitutional spending. This is especially true when war coincides with a period of economic downturn and growing federal deficits. Unfortunately, Congress today is derelict in its duty to the United States taxpayer. Instead of simply ensuring that our military has the necessary resources to accomplish its mission in Iraq, a mission which may very well be over before this money reaches the Pentagon, Congress has loaded this bill up with unconstitutional wasteful foreign aid and corporate welfare spending.
economic downturn
Abolishing The Federal Reserve
17 July 2003 2003 Ron Paul 83:4
From the Great Depression, to the stagflation of the seventies, to the burst of the dotcom bubble, every economic downturn suffered by the country over the last 80 years can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial “boom” followed by a recession or depression when the Fed-created bubble bursts.
economic downturn
Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:58
The long-term philosophic problem with this is that the central bank and the fiat monetary system are not blamed; instead free market capitalism is. This is what happened in the 1930s. The Keynesians, who grew to dominate economic thinking at the time, erroneously blamed the gold standard, balanced budgets, and capitalism instead of tax increases, tariffs, and Fed policy. This country cannot afford another attack on economic liberty similar to what followed the 1929 crash that ushered in the economic interventionism and inflationism which we have been saddled with ever since. These policies have brought us to the brink of another colossal economic downturn and we need to be prepared.
economic downturn
Thrift Savings Improvement Act
16 September 2003 2003 Ron Paul 99:6
Federal employees could greatly benefit from the protection against inflation and economic downturns provided by prudent investments in precious metals. I, therefore, once again urge my colleagues to cosponsor the Thrift Savings Fund Improvement Act.
economic downturn
Government Spending – A Tax on the Middle Class
July 8, 2004 2004 Ron Paul 52:13
Not only is the Fed directly responsible for inflation and economic downturns, it causes artificially low interest rates that serve the interests of big borrowers, speculators, and banks. This unfairly steals income from frugal retirees who chose to save and place their funds in interest bearing instruments like CDs.
economic downturn
America’s Foreign Policy Of Intervention
26 January 2005 2005 Ron Paul 6:60
What if we suddenly discover we are the aggressors and we are losing an unwinnable guerilla war? What if we discover too late that we cannot afford this war, and that our policies have led to a dollar collapse, rampant inflation, high interest rates, and a severe economic downturn?
economic downturn
The Hidden Cost of War
June 14, 2005 2005 Ron Paul 58:34
Centuries ago the notion of money introduced the world to trade and the principle of division of labor, ushering in for the first time a level of economic existence above mere subsistence. Modern fiat money with electronic transactions has given an additional boost to that prosperity. But unlike sound commodity money, fiat money, with easy credit and artificially low interest rates, causes distortions and mal-investments that require corrections. The modernization of electronic global transfers, which with sound money would be beneficial, has allowed for greater distortion and debt to be accumulated-- setting the stage for a much more serious period of adjustment requiring an economic downturn, liquidation of debt, and reallocation of resources that must come from savings rather than a central bank printing press.
economic downturn
Gold And The U.S. Dollar
25 April 2006 2006 Ron Paul 23:34
As problems develop, scapegoats are sought and frequently found in foreign nations. This prompts many to demand altering exchange rates and protectionist measures. The sentiment for this type of solution is growing each day. Though everyone decries inflation, trade imbalances, economic downturns and Federal deficits, few attempt a closer study of our monetary system and how these events are interconnected.
economic downturn
Statement for Hearing before the House Financial Services Committee, “Monetary Policy and the State of the Economy”
15 February 2007 2007 Ron Paul 32:7
Even if prices were held in check, in spite of our monetary inflation, concentrating on CPI distracts from the real issue. We must address the important consequences of Fed manipulation of interest rates. When interests rates are artificially low, below market rates, insidious mal-investment and excessive indebtedness inevitably bring about the economic downturn that everyone dreads.
economic downturn
Introduction Of The Federal reserve Board Abolition Act
15 June 2007 2007 Ron Paul 65:2
From the Great Depression, to the stagflation of the 70s, to the burst of the dotcom bubble, every economic downturn suffered by the country over the last 80 years can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial “boom” followed by a recession or depression when the Fed-created bubble bursts.
economic downturn
FEDERAL RESERVE BOARD ABOLITION ACT
February 3, 2009 2009 Ron Paul 14:2
From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial “boom” followed by a recession or depression when the Fed-created bubble bursts.
economic downturn
THRIFT SAVINGS FUND IMPROVEMENT ACT
March 10, 2009 2009 Ron Paul 25:4
Federal employees could greatly benefit from the protection against inflation and economic downturns provided by prudent investments in precious metals. I, therefore, once again urge my colleagues to cosponsor the Thrift Savings Fund Improvement Act.
economic downturn
Statement on War Supplemental Appropriations
June 16, 2009 2009 Ron Paul 67:3
As Americans struggle through the worst economic downturn since the Great Depression, this emergency supplemental appropriations bill sends billions of dollars overseas as foreign aid. Included in this appropriation is $660 million for Gaza, $555 million for Israel, $310 million for Egypt, $300 million for Jordan, and $420 million for Mexico. Some $889 million will be sent to the United Nations for “peacekeeping” missions. Almost one billion dollars will be sent overseas to address the global financial crisis outside our borders and nearly $8 billion will be spent to address a “potential pandemic flu.”
economic downturn
TRANSPARENCY AT THE FEDERAL RESERVE
December 1, 2009 2009 Ron Paul 100:3
Since the Fed is the source of all economic downturns, it’s impossible for any central banker to regulate in such a manner to prevent the problems that are predictable consequences of his own monetary management. The Federal Reserve fixes interest rates at levels inevitably lower than those demanded by the market. This manipulation is a form of price control through credit expansion, and is the ultimate cause of business cycles and so many of our economic problems, generating the mal- investment, excessive debt, stock, bond, commodity, and housing bubbles.
economic downturn
Overall Review
27 December 1999 Texas Straight Talk 27 December 1999 verse 6 ... Cached
Federal spending increased last year. New federal programs were started and the national debt continues to soar. In spite of the fact that we hear so much talk about budget surpluses, our federal monetary and fiscal policies continue to push our nation dangerously close to the edge of a very steep cliff. Once we hit the edge, we are headed for a deep economic downturn.
economic downturn
Predictions for an Unwritten Future
29 April 2002 Texas Straight Talk 29 April 2002 verse 19 ... Cached
Price inflation and a major economic downturn will decimate the U.S. Treasury.
economic downturn
Too Little, Too Late
14 November 2005 Texas Straight Talk 14 November 2005 verse 10 ... Cached
The spending culture in Washington creates an attitude that government can solve every problem both at home and abroad simply by funding another program. But we've reached a tipping point, with $8 trillion in debt and looming Social Security and Medicare crises. Government spending has become a national security issue, because unless Congress stops the bleeding the resulting economic downturn will cause us more harm than any terrorist group could ever hope to cause. And we're doing it to ourselves, from within.
economic downturn
The Annual Foreign Aid Rip-Off
05 June 2006 Texas Straight Talk 05 June 2006 verse 7 ... Cached
Americans concerned about high taxes, out of control gas prices, and economic downturn should think hard about what the US government is doing with the money it takes from them. The greatest “foreign assistance” we can give to other countries is to demonstrate to the rest of the world that limited government and the rule of law ensure freedom and prosperity.
economic downturn
The Federal Reserve Monopoly over Money
09 April 2007 Texas Straight Talk 09 April 2007 verse 3 ... Cached
Recently I had the opportunity to question Federal Reserve Chairman Ben Bernanke when he appeared before the congressional Joint Economic committee. The topic that morning was the state of the American economy, and many of my colleagues raised questions about how the Fed might better "regulate" things to ease fears of an economic downturn. The tenor of my colleagues' questions suggested that Mr. Bernanke's job is nothing less than to run the U.S. economy, like some kind of Soviet central planner.
Texas Straight Talk from 20 December 1996 to 23 June 2008 (573 editions) are included in this Concordance. Texas Straight Talk after 23 June 2008 is in blog form on Rep. Paul’s Congressional website and is not included in this Concordance.
Remember, not everything in the concordance is Ron Paul’s words. Some things he quoted, and he added some newspaper and magazine articles to the Congressional Record. Check the original speech to see.