Ron Paul: Trillion Dollar Deficits Will Lead To Dollar Crisis

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Wednesday, January 7, 2009

Congressman Ron Paul responds to Barack Obama’s admission that trillion dollar deficits will be here for years to come.

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12 Responses to “Ron Paul: Trillion Dollar Deficits Will Lead To Dollar Crisis”

Michael Says:
January 7th, 2009 at 2:15 pm
I’m not surprised no one see’s these things coming.

Obama has done nothing, will do nothing and is paid by the same people who hate you.

I don’t see how, even with a LITTLE economic know how, no one saw this coming. The guy on this is right, million becomes billions, trillions, quadrillions.

This won’t stop….. It’s simple, STOP USINF BAD MONEY.
Forced Freedom Says:
January 7th, 2009 at 2:29 pm
It doesn’t take a rocket scientist to understand that without manufacturing in this country, reckless spending by the government of your money, two wars being fought simultaneously, deficits beyond comprehension, trillions of bailout dollars to the world and billions of dollars in donations to Israel the GDP cannot support this train wreck.

When it happens, most Americans will be caught off guard and will be begging for relief from the same ones who created this monster. There will be fighting amongst ourselves in the streets, killing for food and water, looting whats left of the shops and stores and chaos on a scale that has NEVER been experienced in this country before.

If you have food and supplies stored and your neighbors know it, guess who is going to be knocking on your door when the going gets tough? YUP! You guessed it and what are you going to do? Many will get desperate and try to take what you have, be prepared for it!

It’s coming, I just don’t know when, but it will be THIS YEAR I’m sure.

Good luck and God Bless the freedom Fighters
Antifraud Says:
January 7th, 2009 at 2:33 pm
Duh!
thegaindeli Says:
January 7th, 2009 at 2:34 pm
Same shit…different article!
no one Says:
January 7th, 2009 at 2:52 pm
What America needs, to shake this crisis off, is to become more efficient in production than China and Japan. And also come up with new products/services, which the whole world needs. Something really big and innovative, like American car industry or computer industry in the last century. But to do that, first Americans will need to lose some fat. And I don’t mean that literally. I frequently hear a phrase “American worker can outwork any other worker in the world”. This was true in the past, but not anymore. People need to realize, that if you earn 50K a year, you need to produce something that is worth at least 51K in that year to be efficient. But it is easier said than done of course…
oscar Says:
January 7th, 2009 at 4:35 pm
Only a matter of time now. Even an idiot can see what’s happening now. Goverment spending more is not going to help anything. I give is less than 2 years before the dollar collapses. Why can’t we just learn from the soviet union? They walked down this road a while back
Ben Says:
January 7th, 2009 at 5:29 pm
well if you go to the heart of every matter concept, argument, action, theory, system, faith, policy anything and I mean anything it always comes down to 2 things….

are you acting out of fear? or are you acting out of the opposite of fear which is ______?

_____ is the answer you fill in the blank

What do you think ______ is ?
M Says:
January 7th, 2009 at 7:27 pm
In response to no one: Inventing more gadgets will not solve the problem in the long run. The problem is exactly what Ron Paul has said time and time again – The Federal Reserve System. This system needs to be abandoned and we need to take back control of our monetary system. That is the first step to solving our problems. This system requires more and more to keep it going and we’ll be required to have 3-4 income earners per household just to keep the system from collapsing on itself. We’re pretty much at the 3 income earner level given the average American has a negative savings rate… The system is basically falling apart at the seams…
Roland Carnaby Says:
January 7th, 2009 at 10:39 pm
Oh thee of little faith, Ron Paul spoke as a hostage would. He left a few clues, Mises and Hayek. Their belief being the people can take back control at any time by refusing to use the bank. It forces illiquid assests to be declared because the bank has no assests to work with. The next best thing would be to convert all treasuries into cash and put it under the mattress. It will break them, but hopefully not your back. The only way out of this mess is for all bad debts to clear the books, a depression of 30% will be a soft landing. You cannot pump money into an economy that has a monetary velocity of below 1. Presently $1=.80; Can you profit when you spend $1 for a return of 80 cents. SENSE!!!!????
Good Lord Says:
January 7th, 2009 at 10:51 pm
China and India (combined) have added over 2 billion workers to their manufacturing capabilities in the past 3 years. China alone can manufacture EVERY good the ENTIRE world would require (short of Food). The US has always depended upon manufacturing to pull us out of a deppression…..yet there has never been a time in history when you’ve had 3 countries with the capacity of manufacturing, competing against one another…The US has simply lost it’s piece of the pie (market share) that would have traditionally pulled us out of a economic crisis…..GOOD TIMES…Anybody know how many widgetts it takes to cover a TRILLION or two at China’s P&L?
mark Says:
January 8th, 2009 at 12:24 am
mo dollas mo slaves
Lee Says:
January 10th, 2009 at 9:59 pm
As long as we have fractional banking and the Federal Reserve we will have exponential growth of debt. Debt is the only way that money can be created in this system.
Don’t believe me? Do a Wiki search on money supply, or watch the video “money as debt” on you tube.