Tuesday, May 25, 2010

Rand Paul, Economics, and Why They Fear Him

An article from a Keynesian attempted to make Rand Paul look like a clueless idiot when it comes to his style of economics, which the writer hates.

Here's one thing David Weidner said about Paul in what he believes Paul's economic vision is for America:

"It's easier to imagine than you might think. Until 1933, there was no Securities and Exchange Commission, no Federal Deposit Insurance Corp., the Federal Reserve was a nascent, inactive and poor regulator. It's different now in that the Fed is no longer new.

"The decade that preceded the creation of the SEC and FDIC was not too far from the vision Paul and his kind want to see again: markets full of speculation, manipulation and unprecedented leverage through investment trusts -- a kind of mutual fund on steroids that promised to give investors access to an ever-inflating stocks market. We were on the gold standard. The U.S. had a balanced budget policy. It was Paul's kind of market."

I just want to mention one quick thing about the above before getting into the reason behind Weidner's tortured fear of Rand Paul.

In the first paragraph quoted, it's obvious Weidner expects no one to understand the ineptness and idiocy of the Federal Reserve and how it reacted to the housing market, and what is has evolved to today. For him to say the Federal Reserve of old "was a nascent, inactive and poor regulator. It's different now in that the Fed is no longer new," is almost beyond believe.

The Federal Reserve is no different now than it was back when it started, except it prints even more money than ever before in history, and is even more crooked, ineffective and dangerous. That doesn't include the secrecy surrounded it that is protected by politicians.

He even says the poor performance of the Fed in the crisis (which he now evidently admits to) doesn't "explain the behavior of big banks which, without regulation, loaned billions to investors to speculate in the market."

It doesn't explain the failure of the Fed? Who does he think supplied the banks with the billions?

Anyway, as far as Rand Paul, it shows the underlying panic and fear about a candidate like him? Why? Because he's the first to emerge with a real chance to win the Senate seat. He was leading his Democratic opponent by almost the same margin he won over his primary opponent, by about 59 percent to 35 percent.

This of course has driven the liberals and Democrats crazy (and some Republicans), because he could be the first of many, and his primary victory gave others hope, and that could lead to some key victories for some that could change the course of American politics for years to come, and America itself. That's what Rand Paul represents, and why on a national level the attacks are seemingly out of proportion for someone running for a Senate seat.

In other words, it's an attempt to kill what the tea party represents at its birth, as if they can get rid of Paul by presenting him as a nut and out of tune with average Americans, they can then use those same tactics to go after those that follow him.

Imagine a solid group of lawmakers like Rand Paul inhabiting Washington, and the past practices of Politicians would be over. There would be no backroom deals which they didn't believe in to allow dubious legislation to go forth. There could be the strong possibilities of repealing legislation like Obamacare, which Americans by a majority didn't want, but was forced upon them.

Bottom line is Rand Paul represents what the Tea Party stands for, and that is a threat to those whose only faith seems to be in government, and the idea of someone coming in to limit their daddy is just too much for many to take.

The attacks on Paul will continue, but others are starting to rise up after his primary victory, and that could deflect some of the focus that is on Paul.

Rand Paul is more connected to what most Americans want and stand for than the vast majority of politicians, and to see him gain victory as a Senator would be great for America, and hopefully a significant number will follow him and win in their races; if not this election, in many elections to come.

Again, that's what people fear in Rand Paul, and why many will do almost anything to attempt to defeat him in November.

For the sake of our economic future and freedoms, I hope he wildly succeeds.

1 comment:

Anonymous said...

Just keep in mind the opposition's strategy for these elections is "Distract, Distract, Distract".

They will want to focus on anything BESIDES the abysmal Obama/Pelosi/Reid economy: the hundreds of billions in taxpayer funded Wall Street bailouts, the exploding national debt and deficit, the unemployment, the foreclosures, etc.

You continue to see them dwell on fabricated issues to keep the attention off of the economy.