Today the
Federal Reserve cut short-term interest rates by half a point, down to 3
percent, which is the second time our central bank has lowered interest rates in eight days. In the accompanying
statement, the Federal Reserve said, "Financial markets remain under considerable stress, and credit has
tightened further for some businesses and households."
They also acknowledged that data shows the housing
market is still on the decline in the US, and the job market is
"softening." Wait, didn't President George W. Bush just tell us in
his state of the union that things are looking up?
Here's a novel idea: how about we just
stop printing money that we don't have?
If you
recall, Paul told Federal Reserve chairman Ben Bernanke this to his face
in November.
"We have a serious problem," Congressman Paul
said. "We don't talk much about how we got here, we talk about how
we're going to patch it up. The bubble has been burst...and yet,
nobody says, 'Where did it come from?'"
Watch this video, where Ron
Paul tells Bernanke and the Joint Economic Committee what they already
know - that in order to lower the interest rate, more money needs to be
printed, which is devaluing our currency.
RSS Feed
