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First Egypt, Then the Fed? Ron Paul on the Lew Rockwell Show – Lost Republic
Therein read “Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established.”
And understand the long term impact of, “On the inflation front, we have recently seen increases in some highly visible prices, notably for gasoline. Indeed, prices of many industrial and agricultural commodities have risen lately, largely as a result of the very strong demand from fast-growing emerging market economies, coupled, in some cases, with constraints on supply.”
Is this big brother of the central planners speaking, “we remain unwaveringly committed to price stability.” Read details after this sentence.
And what is this, from a Keynesian?, “However, even after economic and financial conditions return to normal, the federal budget will remain on an unsustainable path, with the budget gap becoming increasingly large over time, unless the Congress enacts significant changes in fiscal programs.”
And now read, “By definition, the unsustainable trajectories of deficits and debt that the CBO outlines cannot actually happen, because creditors would never be willing to lend to a government with debt, relative to national income, that is rising without limit. One way or the other, fiscal adjustments sufficient to stabilize the federal budget must occur at some point. The question is whether these adjustments will take place …”
And now the offical response from Bernake:
www.federalreserve.gov/newsevents/testimony/bernanke20110209a.htm
Therein read “Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established.”
And understand the long term impact of, “On the inflation front, we have recently seen increases in some highly visible prices, notably for gasoline. Indeed, prices of many industrial and agricultural commodities have risen lately, largely as a result of the very strong demand from fast-growing emerging market economies, coupled, in some cases, with constraints on supply.”
Is this big brother of the central planners speaking, “we remain unwaveringly committed to price stability.” Read details after this sentence.
And what is this, from a Keynesian?, “However, even after economic and financial conditions return to normal, the federal budget will remain on an unsustainable path, with the budget gap becoming increasingly large over time, unless the Congress enacts significant changes in fiscal programs.”
And now read, “By definition, the unsustainable trajectories of deficits and debt that the CBO outlines cannot actually happen, because creditors would never be willing to lend to a government with debt, relative to national income, that is rising without limit. One way or the other, fiscal adjustments sufficient to stabilize the federal budget must occur at some point. The question is whether these adjustments will take place …”
It is the numbers, understand the numbers…
Ed K
Thanks for the link, comments!