Blog-IT-o ergo sum

	10/5/2005

Watch Out for Killer Dolphins

When dolphins go bad.

2:06:05 PM

comment []

Federal Reserve prepares to trample middle class and poor again

From Congressman Ron Paul:

Congress reacted to Katrina in the expected irresponsible manner. It immediately appropriated over $60 billion with little planning or debate. Taxes won't be raised to pay the bill-- fortunately. There will be no offsets or spending reductions to pay the bill. Welfare and entitlement spending is sacrosanct. Spending for the war in Iraq and the military-industrial complex is sacrosanct. There is no guarantee that gracious foreign lenders will step forward, especially without raising interest rates. This means the Federal Reserve and Treasury will print the money needed to pay the bills. The sad truth is that monetary debasement hurts poor people the most-- the very people we saw on TV after Katrina.

Inflating our currency hurts the poor and destroys the middle class, while transferring wealth to the ruling class. This occurs in spite of good intentions and misplaced compassion.

Note to Ron Paul fans out there: Come join my wife and I for dinner with Ron Paul in Orlando Florida on October 29th. There will only be 300-400 other people at the table.

12:31:36 PM

comment []