Don’t say nobody could predict this.  Here’s a floor speech from Ron Paul in 2002:
Congressman Ron Paul
U.S. House of Representatives
July 16, 2002
Mr. Speaker, I rise to introduce the Free Housing Market Enhancement Act. This legislation restores a free market in housing by repealing special privileges for housing-related government sponsored enterprises (GSEs). These entities are the [...]

Continue reading " This WAS Predictable "

Dear Friends:
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. [...]

Continue reading " Ron Paul: My Answer to the President "

Never mind that we don’t need the bailout, where exactly did the $700 billion number come from?  Why not $500 billion, $650 billion or $800 billion?
Did they just pull the 700 billion out of thin air?
Yes, it turns out they did:

In fact, some of the most basic details, including the $700 billion figure Treasury would [...]

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Here’s a question you’re not supposed to ask:

Wall Street Strip
Is Paulson’s bailout bill unconstitutional?
By Rod Smolla
Posted Wednesday, Sept. 24, 2008, at 1:43 PM ET Henry Paulson
Does the Constitution have any role in the intense debate and blowback surrounding Secretary Henry Paulson’s $700 billion bailout proposal? There is nothing in our founding document that prohibits taxing [...]

Continue reading " Is the Bailout Bill Constitutional? "

That needs to be the theme right now for everyone who cares about the free-market.
(Naturally there already is a facebook group.)

Continue reading " Stop Blaming Capitalism, for Socialism’s Failures "

To Obama’s credit he was on the record in the run up to Iraq as opposed to the war. But one wonders if he would have actually voted against it in the Senate had been there in 2002. Given his proclivity to duck hard votes in the Illinois Senate, I doubt he would [...]

Continue reading " Biden, Obama and Iraq "

We’re told that this bailout will cost us $700 billion (and maybe as much as $1 trillion). Even setting aside the very significant moral hazard created by such a bailout, we simply can’t afford it.
Here’s a little breakdown you won’t hear from our politicians:
700 billion dollars is over $2,300 per person! (700 billion/population of 300 [...]

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Dear Friends,
Whenever a Great Bipartisan Consensus is announced, and a compliant media assures everyone that the wondrous actions of our wise leaders are being taken for our own good, you can know with absolute certainty that disaster is about to strike.
The events of the past week are no exception.
The bailout package that is about to [...]

Continue reading " Message from Dr. Paul "