Prominent Economist: Crisis Caused By Government Interventions

“People who created the problem are now in charge”

A prominent PhD economist has slammed the latest round of bank bailouts and argued that they will not work because the financial crisis was caused and prolonged by such activity in the first place.

Ron Paul – Sickness Unto Debt

One of the burning questions regarding the recently passed bailout, and the one that almost no one has bothered to answer, is how the government intends to pay for it. Governments have three main methods by which they can raise funds: taxation, printing new money, and debt. As our $10 trillion national debt shows, the federal government has always enjoyed raising money by issuing new debt. Money is gained upfront, while the cost of repaying that debt is pushed onto future generations.