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Blog

    Ron Paul on Reinflating the Bubble

    03/12/2009

    Ron Paul explains to Congress that we can't re-inflate the housing bubble.

    Ron Paul, speaking on Feb. 25 to the House, explained that government cannot re-inflate the housing bubble.  Government interference in the housing and loan market for nearly the last hundred years caused the bubble.  The president and Congress should step out of the way and let the prices of housing fall to their market levels rather than attempting to hold them up as they have over the last several months.

    Roger Garrison at Auburn University has an exellent power point presentation that he posted years ago on his website that explains the Austrian theory of the business cycle that Ron Paul sometimes uses to back his policy choices.  The presentation explains the role of the Federal Reserve and its interference with interest rates to drive boom-bust cycles in economies.

    Ron Paul recently introduced a bill to audit the Fed to Congress.