Libertarian Party of Pittsburgh

We keep hearing from pundits on television, from Wall Street execs, and from politicians that “nobody saw this crisis coming.” That’s nothing short of the usual sping and lies we get from the status quo. Quite to the contrary, proponents of the libertarian-rooted Austrian School of Economics (a school of thought vs. an actual institution) have been warning about a serious crash for a long time. Not only did they warn of this crisis we’re now enduring, they warned in advance of the internet stock bubble that there would be a collapse, and as far back as the teens and 1920s they warned of serious repercussions coming for the mass money supply and credit expansion created by the Fed, then in it’s infancy. Luminaries such as Ludwig von Mises specifically warned that such policies would lead to the Great Depression, which included warnings that the policy responses of both Hoover and FDR would not solve the crisis, but only deepen and prolong it.

Above is friend of liberty Ron Paul, who while remaining a republican for political reasons, is philosophically libertarian (he even ran as the LP candidate for president back in the 1980s). On top of explaining the how’s and why’s, Paul asks the valid question: why don’t we ask those who predicted this was coming with near exact prescience to provide us the solution?

Note Bernanke’s wiggly answer on fighting inflation — defining inflation as prices rising vs. the printing of money. Absent is any acknowledgment that stock and bond prices are massive beneficiaries of inflation.

If you want truthful economic policies that are not about handing out free lunches, you need to vote libertarian and fast.  Stop voting for the lesser of two evils by voting R or D. who not only enabled this mess to happen, they were also too economically misinformed to even contemplate they were sowing the seeds of a massive collapse.  If they didn’t see it coming, how on earth do you expect these stumblers to fix the problem?

Both the republicans and democrats have the U.S. economy hooked on a free lunch system of economics, and we all know there’s no such thing as a free lunch.  With the kitchen now running bare, the massive tab is coming due — yet the D’s and R’s want the economy to gorge on another free lunch!   There only policy response is to soak taxpayers with a $700 billion package that, on top of offering a figure that is far too low give the real figure is too catastrophic to contemplate (some estimates are that this will cost at least $2 Trillion).  Again, the package itself is just another form of a free lunch promise.

On top of that, the policy hands over tremendous unchecked financial power to the Treasury. It is the economic version of the Patriot Act, where unaccountability  reigns, and blank checks are the standard.  Deliberate in the bailout’s designs have been provisions that quite literally make near impossible the ability of Congress to rescind this authority.   We already know that it is impossible to get power back from big government once it has it (no programs are ever cut), and now this administration actually has the arrogance to write such a provision into the law it wants Congress to approve!

Such policies are killing the dollar and reek of real inflation: If you think your gas and grocery bills are ugly now, consider those prices rose from the inflation of money supply that started in 2000 and ended back in 2004-2005 when the fed raised interest rates and cut back on the expansion.

End this economic stupidity.  Vote libertarian.