Tuesday, November 12, 2019

The Sheep, The Wolf and Dr. Paul

How many times, how many headlines, how many articles have been written – maybe even read - about the monstrous disaster waiting to befall Americans when the Mother of All (Financial) Bubbles bursts? To say such pieces speak as "warnings" is the Mommy of all Understatements. True as they are, these facts are barely reported is just as true, likely because the Average Reader is near totally ignorant, dis-interested and bored by anything that smacks of serious economic analysis of the Federal Reserve, Quantitative Easing, GDP, Negative Interest Rates, Unfunded Entitlements and other terms common to Money Talk. Readership and ratings are too important risk. The time and effort it would take readers to scale the Learning Curve of Economics is too steep. This is football season! There is holiday shopping!

Here's a good example of the serious issue of our current economic status and instability which isn't taken too seriously by serious Americans unknowingly facing the consequences.

Seriously.


While I am a big fan of Ron Paul's economic and political positions, please focus on his last paragraph:

"Congress will not cut spending until either a critical mass of Americans demand they do so, or there is a major economic crisis. In the event of a crisis, Congress will try to avoid directly cutting spending, instead letting the Federal Reserve do its dirty work via currency depreciation. This will deepen the crisis and increase support for authoritarian demagogues. The only way to avoid this is for those of us who know the truth to spread the message of, and grow the movement for, peace, free markets, limited government, and sound money."

Now objectively consider the syntax of what you have just read and, specifically, think about this:

If "Congress will not cut spending until either a critical mass of Americans demand they do so, or there is a major economic crisis. In the event of a crisis, Congress will try to avoid directly cutting spending, instead letting the Federal Reserve do its dirty work via currency depreciation. This will deepen the crisis and increase support for authoritarian demagogues."

Assuming that is true – and it is – now consider the conclusion:

"The only way to avoid this is...to spread the message of, and grow the movement for, peace, free markets, limited government, and sound money."

Really? And how about "Brushing after every meal"..."washing behind your ears"...and "being nice to little puppies"? Since "Congress...will only try to avoid cutting spending" even when "Americans demand", how effective can "spreading the message" be when, through citizens aggressive ignorance and contagious apathy, it will only be ignored?

This is where the urgent message of learned, concerned individuals such as Dr. Paul falls as flat and tragically ineffective as the story of the Boy Who Cried Wolf. As the fable goes, the boy's warnings were eventually and understandably ignored. The result: sheep were slaughtered when the real wolf did appear.

The take-away is Dr. Paul and other well-intentioned "guardians of the flock" yell many warnings but fail to provide specific pro-active ideas for dealing with the coming wolf of economic collapse.

Some pragmatic specifics in order to prepare for or avoid that tragedy would be most worthwhile.

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