RP addresses the House 3/12 re: the economy. "This will end badly"

Truth is pouring out. Plain & simple. If there's a more honest politician in Washington DC I have yet to read or hear of them.

So I check the market. Oil is over 110, Gold is up, Euro is up, Dollar is down......and best of all the morons running the exchange have it up 82pts.

My question is: Will the blind guy driving the bus ever noticed the acclerator is stuck to the floor?

more brilliance in the explanation of what's to come from the ONLY statesman of our time because he gets it!!!
god bless you doc for what you do..........we owe you big time!

i cannot find the link so here is a great and humorous analysis (rant) of bernanke's appearance before the senate banking committee (real name is richard daughty - see below):

Bernanke gets it backwards
By The Mogambo Guru

I tried to watch Ben Bernanke's question-and-answer appearance before the Senate Banking Committee, but there was Christopher Dodd, chairman of that committee, who is the guy I accuse of being directly responsible for the entire economic mess we are in, as the economic mess we are in is the same kind of economic mess that happens every damned time the banks are allowed to act irresponsibly, and this preening Congressional-doofus was in charge of questioning the head of the Federal Reserve to keep the banks from acting crazy and keeping greedy, corrupt, lying bankers in line. But he blew it, big time, and I shall never forgive Connecticut for electing this bozo.

Almost right off the bat, Bernanke implied that Milton Friedman was wrong, and that the whole monetarist school of economics was wrong when they said that "inflation in prices is always and
everywhere a monetary phenomenon" - which is exactly, exactly right. Instead, Ben "Butthead" Bernanke says that inflation is caused, not by irresponsible over-creation of money and credit, but by rising commodity prices, especially the rising price of oil! Hahaha! What an idiot!

And ol' Butthead says he is on the lookout for signs that the rising costs that producers of goods and services must pay are not filtering through to retail prices, and if he ever sees any inflation, he will take "action"! Hahaha! I can't believe I am hearing this! Hahaha!

This Bernanke dim bulb, who apparently knows nothing about economics at all, was the chairman of the economics department of Princeton (which doesn't say much for Princeton University), and is apparently unaware that Milton Friedman was right; the rise in retail prices is caused by a prior rise in the money supply, which is caused by the Federal Reserve creating excessive amounts of money and credit. High prices, therefore, are the RESULT of the ridiculous excesses of the Federal Reserve, not the cause.

And the proof is simplicity itself; if there is a static supply of money, then the only way for increased sales of one item (thus bidding up the price) to occur is if there are decreased sales of other items (dropping the price), so that aggregate inflation is zero.

But with the money supply growing at over 15% a year in the US and as bad, or worse, almost everywhere else in the freaking world, Bernanke is thus a complete idiot when he then (as I recall) said something like, "I fully expect a return to strong growth and falling inflation over the next few years ahead." Hahahaha!

And nobody on the committee asked the one question that was burning a hole in the brains of Mister, Miz and Missus America, namely, "Why do you believe that?" And what is more, how in the hell can anybody be so stupid as to think something so asinine that it makes me laugh so hard that my stomach hurts and makes me grind my teeth in outrage so hard that sparks actually fly out of my mouth from the friction?

Since nobody asked that question, it was a delicious moment when he then finished saying that remarkable statement and then cast his eyes down; it was then I knew that he knew that I was out here watching him, and he knows that I know that he knows that I am watching him, and now he knows that I know that he has exposed himself as the lying piece of neo-Keynesian econometric clap-trap that I figured he was, which means that he will, again, be the lead-in story in tonight's Mogambo Inter-Galactic News (MIGN) broadcast, with the headline "Ben Bernanke: Lying piece of neo-Keynesian econometric trash, or something worse?"

I think you know how I will finish that particular editorial rant!

Richard Daughty is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the editor of The Mogambo Guru economic newsletter - an avocational exercise to heap disrespect on those who desperately deserve it.

Republished with permission from The Daily Reckoning
Copyright 2008, The Daily Reckoning.

Is there a transcript anywhere?

"We don't have to start a brand new revolution...All we have to do is restore the original Constitution." -Ron Paul

IMissLiberty

******************************************
The Delegate Rule Book for the RNC
Read It--Learn It--Know It! Don't let the GOP violate the rules.
Who knows you could learn a few tricks of your own.
pdf file:
www.gop.com/images/2008_C...

too bad the average american doesn't tune in and hear this. it seems that too much of our media and most of our leaders focus on a bunch of lies and half truth's and smoke screens. I hope that we can get him able to talk at the convention. also we must tell as many people as we can about upcoming coasttocoast radio.