Dr. Ron Paul (R-Tx), former fiery back bencher in the House of Representatives, and perennial presidential candidate (for both the GOP and Independent parties) is at it again.
No shrinking violet, Dr. Paul, he has predicted correctly and incorrectly quite a few occurrences over the past 20 years, and quite a few 'end of days' scenarios as well, which never seem to pan out.
This time, he predicts that the U.S. economy will collapse this year. He points to runaway spending, sky high tax rates and the lack of any political will to do anything about any of this by Congress as a precursor to economic chaos in 2015.
Ron Paul has always been very pessimistic when it comes to the resilience of Americans. He has persisted in his 'end of days' comments on every single bill coming out of Congress, and that we are doomed. But what he doesn't count into his calculus is the backbone of the American people. We have seen tough times before, and we will again. And we will overcome those tough times, as we always do.
As in years passed, some of his predictions have come to pass: in 2002 he predicted the "Arab Spring" would result in many of our shaky Arab allies being overthrown by Muslim extremists. This indeed has happened. But he also predicted that we were in for an economic melt down that would bring us to our knees, this one made perhaps 15 years ago.
So far, that hasn't happened. And it probably won't. If we were to see the economy blow up, that would have happened in 2007-9, (the Great Recession). Sure, things were bad, and lots of people lost their jobs and the economy has shrunk. No denying that this is true.
But the extent to which Dr. Paul portrays the 'end of days' just isn't in the cards for the largest economy on the planet. Despite the horrible Great Recession, the U.S. economy is still the mightiest, most robust and reliable economy in the world today.
Ron Paul is now offering up his doom and gloom predictions on behalf of precious metal interests, and warning that if we Americans don't start going back to using gold and silver as money, we will all end up in the gutter, destitute and forlorn in our misery.
From my understanding, Dr. Paul is a medical doctor, and more specifically a gynecologist/obstetrician by trade. He was elected to serve the people of Texas in the House of Representatives back in the 1970's, and now considers himself an expert in world economics.
I may trust Dr. Paul to perhaps lance a boil or set a broken bone with competence, but his complete lack of credibility in all things economics is frankly breathtaking.
He has been predicting the end of days here in the U.S. for what seems like forever, and now he is finally doing it for money. He is the perfect spokesperson for precious metal commodity brokers, because they have been saying the same thing for the last thousand years.
And I am not buying what he is selling, and neither should you. Both he and all of those gold bugs out there have been wrong, wrong, wrong for centuries. And centuries to come.
Monday Memes - *He's Back* This is a subtle and sensitive look at the important issues in the news. You may have other favorites and while that's nice, this is my blog......
7 hours ago