ReasonTV - David Stockman on TARP, the Fed, Ron Paul and Reagan
Submitted by libertydefender on Tue, 01/04/2011 - 23:05He mentions Ron Paul shortly after 7 minute mark. Don't agree with increasing taxes - it's a spending problem.
"At the very start of the "Reagan revolution," David Stockman exposed the myth that Ronald Reagan and the modern Republican Party are dedicated to small government."
"There's only one guy who understands it. It's Ron Paul."
"There's no one else that understands it."
- David Stockman
Time 41:10
Ron Paul's Convention Speech
Club of Fed is a beast! David of Stockman is fighting a giant!
He was slated to be a hero of the President Regain revolution. David of Stockman argued for & won the largest (the only?) budget cuts in modern US history. President Ronald Reagan challenged David of Stockman to significantly cut our Federal Budget. Much to the chagrin of the "Tax & Spend" Congress, David of Stockman won massive budget cuts. The ink was still drying, when the lights went out.
Paul Volcker (Paul the V), Federal Reserve Chair-monitor threw the Fed "Big Red Switch." He used the "Creature from Jekyll Island to swallow the whole economy. Gave the Creature, 20% Prime-Rate interest as tenderizer. A prime cut would have tasted better.
Paul the V would have none of it. He would not listen to the folks needing help. That Creature from Jekyll Island would not suffer a leash.
Paul the V had an alterer motive. His high interest rates decimated the economy. The economy stood at the precipice awaiting Paul the V Commandment... Jump!
Towering interest rates, Treasuries, & Dollars... in unison, on commandment... jumped!
Chaos ensued. David of Stockman stood in astonishment as our economy burned. He could hear faint violin music coming from the Fed. He could not fathom the tune.
David of Stockman knew the 10 commandments; but, this was new. The 11th Commandment... An Astonishment!
Once Paul the V had his way with our economy, he grinned. He made David the Stockman promise to never mess with the Creature from Jekyll Island. Never doubt the Fed. And most of all,
And it was so.
Least, that was what David of Stockman was commanded to say.
You see, there is no moral to this tale. Least not that David could figure. He did all his figuring in nominal dollars. All his huge budget cuts... Well, after the "Very Big Red Switch" flipped out... David unintentionally gifted the largest annual budget increase in inflation adjusted dollars known to mankind.
You see, folks... Paul the V is not of Man-kind. No sir. He & his boyz @ Club Fed, are not of Man-kind.
Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul ☑