Ron Paul: "0% Chance Of 'Grand Bargain' Over Fiscal Cliff"

Tyler Durden's picture




 

Shining a little reality light on the otherwise pollyanna-like dearth of pragmatism that is the mainstream media's guest-list, Ron Paul provided Bloomberg TV's Trish Regan a little more than we suspect she bargained for when asked if he had any hope that we avoid the fiscal cliff. The constant "delaying-of-the-inevitable" enables our politicians to avoid facing up to the serious consequences of our reality and as Representative Paul notes the chances of a grand bargain are "probably zero... that's why I think we're over the cliff [already]." Just like the handling of the debt ceiling debacle, Paul notes they will "pretend they are going to do it" until we get a total crash of the dollar and the entire financial system (which he notes is what will occur if we continue the status quo). "We are at a point of no return" unless certain things change, since "we are not the productive nation we used to be."

Paul on the fiscal cliff and whether politicians are under more pressure to just do what they need to do to get votes:

"Well I think that's true and I think it's been that way for a long time but the big difference is the Treasury is bare. It isn't like we're in the 1950s and 1960s where economic growth could work our way out of these problems that you could print money forever. Printing the money right now, what does it do, it fills the banks with excessive reserves and they get paid to park it at the Federal Reserve. So it's quite different. We're not the productive nation we used to be…we have a lot of jobs gone overseas. Our dollar is weakening because prices do go up and as long as we do that, the politicians are going to keep pushing that and trying to get away with that but the big question is how long will politicians will be able to get away with that."

On the probability that a grand bargain will be reached on the fiscal cliff:

"Probably zero… that's why I think we're over the cliff. We're past bargaining states because they will not address those things I just stated. They're going to try to pretend that they are going to do it. The way they handled the debt increase, last summer, that is a pretty good example. And matter of fact the debt increase might be the big event come February that might be big because they can roll things over…they can postpone big decisions in January and yet that still does not remove the uncertainty. Uncertainty is a major cause of the inability for the market to get moving again and they have to revamp it in a much more detailed fashion than they are even talking about right now."

On whether Obama will be able to bring Congress together for some kind of reform before the end of the year:

"Oh no, I think there will be something, but it will be very temporary, it won't be long lasting and restore confidence and fix the problem. But there will be some type of reconciliation of saying we'll do this and a little of that and it may even help the financial markets for a little while, but since it won't solve the problems it will only be temporary. "

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Tue, 11/13/2012 - 20:16 | 2978083 Seasmoke
Seasmoke's picture

you tried Dr. Paul....you really really tried.....you may go in Peace

Tue, 11/13/2012 - 20:21 | 2978104 SilverTree
SilverTree's picture

Forbidden Knowledge - History of the Khazar Empire [Lecture by Jack Otto]

 

http://youtu.be/ZVomYbbb3L0

Tue, 11/13/2012 - 20:53 | 2978219 Aziz
Aziz's picture

Ron Paul looks like he deserves a rest. Being the sanest person in Washington has taken its toll. Still wish he was President, though.

Tue, 11/13/2012 - 20:56 | 2978232 walküre
walküre's picture

Who is tired of hearing about "Fiscal Cliff" yet besides me?

It's just as tiresome as the "war on terrorism".

Bills need to get paid. Entitlements will want to be funded. There is only one solution.

PRINT FEST

Tue, 11/13/2012 - 21:20 | 2978302 I think I need ...
I think I need to buy a gun's picture

ron paul has always been a little on the radical side of things

Tue, 11/13/2012 - 21:30 | 2978340 vast-dom
vast-dom's picture

i'd say deficating all over constitution a la NDAA etc etc is pretty radical, if only it weren't any longer...

Tue, 11/13/2012 - 22:12 | 2978458 Nothing To See Here
Nothing To See Here's picture

And just as radical is a 16 trillion debt load, and mounting.

But yes, liberty is also a radical thing, in some way.

Tue, 11/13/2012 - 22:18 | 2978476 AldousHuxley
AldousHuxley's picture

USTreasury returning less than real inflation. How's that bad for america? It is the Chinese that are getting the short end of the bargain.

 

Tue, 11/13/2012 - 22:33 | 2978523 NidStyles
NidStyles's picture

Have you been in the stores lately to see where things are made?

Tue, 11/13/2012 - 23:04 | 2978603 Cheesy Bastard
Cheesy Bastard's picture

Lets be logical.  The fiscal cliff was created by a super committee.  No problem, since everyone knows a super committee can fly.

Tue, 11/13/2012 - 23:48 | 2978724 toady
toady's picture

I'm sure the super-duper committee can fix any problems the super committee couldn't.

If not there is always the supercalifragilisticexpialidocios committee.

Wed, 11/14/2012 - 00:04 | 2978755 SMG
SMG's picture

I don't know who i believe anymore.   Is Ron pushing for change or being conrolled resisatance, I don't know. 

Free America,that's the goal, but will we ever get there.

Will we ever stop the Elite from killing all of us? I hope so......

Wed, 11/14/2012 - 00:40 | 2978824 FEDbuster
FEDbuster's picture

We need to start a petition drive over at Obama's new petition website calling for, "Ron Paul's Annual Audit of the Federal Reserve Bank"   Someone here better than me at writing a nice concise petition calling for a complete audit and accounting of transactions, gold holdings, ownership, etc....   I'll sign it, if someone can get it going.  

https://petitions.whitehouse.gov/

Wed, 11/14/2012 - 02:03 | 2978941 redpill
redpill's picture

Some day space aliens will come across the smouldering remains of our planet and wonder why the fuck we didn't listen to Ron Paul.

 

Wed, 11/14/2012 - 02:24 | 2978963 Michaelwiseguy
Michaelwiseguy's picture

"I will steal the majority of peoples money, wealth, and ability to prosper by owning the money supply and making the monetary rules myself." - Dr. Evil

Wed, 11/14/2012 - 03:12 | 2979008 Michaelwiseguy
Michaelwiseguy's picture

The National debt is $16 Trillion.

Billion with a "B"?, that was dead a long time ago.

We're talking in the "Ts" now.

Wed, 11/14/2012 - 07:00 | 2979125 francis_sawyer
francis_sawyer's picture

 Some day space aliens will come across the smouldering remains of our planet and wonder why the fuck we didn't listen to Ron Paul.

~~~

And when they do... Krugman will be there hailing their arrival and how it'll be a boon to GDP... I hope he gets hit with the space ray first...

Wed, 11/14/2012 - 06:00 | 2979102 Snoopy the Economist
Snoopy the Economist's picture

...or Ross Perot

Wed, 11/14/2012 - 04:41 | 2979059 Redhotfill
Redhotfill's picture

True Huxley, the chinks are gettin the short end of the stick, and thats good....  Until the figure they got some boom boom when hey wanted yum yum.  Last thing you want is a billion mowfo's all mad they got effed in the A.  I mean you never seen that City Wok guy all pissed?

Wed, 11/14/2012 - 07:53 | 2979173 hedgefunddartthrower
hedgefunddartthrower's picture

That would be true if only the chinese were still buying US treasuries - but they are not. The Fed is buying up most of the US Treasuries thru the back door from banks and the US taxpayers are simply taking on more debt from themselves while the primary dealers are picking up a commission for acting as front for the FED.  The banks keep making money while the US government debt keeps piling up. The US debt is a house of cards.

Wed, 11/14/2012 - 11:39 | 2979825 Thulsa Doom
Thulsa Doom's picture

100% correct. Furthermore, I would suspect there is some kind of under the table deal with the Chinese that the banks and fed suppress the price of gold so the Chinese can buy gradually at a lower price in exchange for china not dumping their treasury holdings all at once. China is no longer buying usts, they are buying gold.

Wed, 11/14/2012 - 12:30 | 2980078 Thisson
Thisson's picture

Anyone who thinks gold prices are being suppressed is a fucking retard.  If you know anything about economics, you know that artificially lowering prices results in shortages.  There are no shortages.  You can get all the gold you want at the market price.  You don't need to buy it in the black market.  You may think gold should be worth more than it is, but right now, Mr. Market does not agree, and the reason is simple.  GOLD HAS NO YIELD, and the market is so yield-starved that it's chasing all kinds of shitty credits.

Tue, 11/13/2012 - 22:05 | 2978435 LostAtSea
LostAtSea's picture

Yea, because upholding the Constitution and paying down debt is so radical.

 

Tue, 11/13/2012 - 22:39 | 2978482 CrockettAlmanac.com
CrockettAlmanac.com's picture

 

ron paul has always been a little on the radical side of things

 

That's true. Radical means to go to the root. Other politicians make feel good speeches which vary from crowd to crowd. Only Ron Paul gets the joint rockin' with talk of monetary policy, nonintervention and individual rights and responsibilities.

Tue, 11/13/2012 - 23:20 | 2978649 Al Gorerhythm
Al Gorerhythm's picture

"ron paul has always been a little on the radical side of things"

Why, that radical ole' constitutionalist, he.  

Liberty is now a radical proposition (see Gop double-cross and steady-as-she-goes election result)! Truly fucked up.

Wed, 11/14/2012 - 04:40 | 2979057 cossack55
cossack55's picture

"In times of universal deceit, telling the truth is a revolutionary act"

G.O.

Wed, 11/14/2012 - 08:15 | 2979197 overmedicatedun...
overmedicatedundersexed's picture

ron paul did what he could to educate- he was an MD and not a hard as nails street fighter..see what is happening to the military leadership to know what he would have faced if he had enough support to make a real run at POTUS.

Wed, 11/14/2012 - 11:41 | 2979832 Thulsa Doom
Thulsa Doom's picture

We have to get back to the 80s when "radical" meant awesome.

Wed, 11/14/2012 - 03:57 | 2979031 Popo
Popo's picture

Radical side of things?

Let me present the edgiest, most bad-ass, radical document ever written:

Read this again and behold what true rebels looked like.  This is radicalism.  Pure motherfucking awesome.

http://www.ushistory.org/declaration/document/

And if you're too lazy to read it again, let me excerpt the most important sentence for you:

"That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government,"

America *is* radical, and don't ever forget it.

Wed, 11/14/2012 - 10:40 | 2979594 ManOfBliss
ManOfBliss's picture

America *was* radical.

Tue, 11/13/2012 - 22:46 | 2978555 q99x2
q99x2's picture

Have you heard that Greece might default on its debt yet? You might try researching that if you're tired of hearing about the fiscal cliff. 

Tue, 11/13/2012 - 22:52 | 2978577 disabledvet
disabledvet's picture

actually it's completely mis-named. if we go "over the cliff" we end up having our taxes go way up and spending slashed dramatically. and this is bad how again? sounds to me like we're arguing over the wrong thing here. don't we WANT to go over this thing?

Wed, 11/14/2012 - 00:10 | 2978768 HurricaneSeason
HurricaneSeason's picture

Yeah, we want to turn the clock back 4 years before there was trillion dollar deficits and long term unemployment checks and tax breaks. The military cutbacks are cutbacks to their increases. The fiscal cliff is nothing. When they want to add another $2.5 trillion to the debt ceiling and Representative Boner wants to make a $250 cut to the annual budget, that'll be the real deal.

Wed, 11/14/2012 - 06:38 | 2979116 Ludwig Van
Ludwig Van's picture

 

 

True. "Fiscal cliff" is a politicized descriptor. Keep in mind the term was coined by Bernanke. Going "over the cliff" -- the ramifications of what have already been agreed upon by both parties -- represents little more than a step *away* for the continuance of profligate government spending (underwritten of course by debt monitization).

"Fiscal cliff" -- Bring it on. We need it.

 

 

Wed, 11/14/2012 - 07:23 | 2979143 OneTinSoldier66
OneTinSoldier66's picture

As Peter Schiff said, it's amazing that the msm/establishment has gotten to where they now make it out as if this thing is a "cliff" that we don't want to dare go over.

 

If we were to go over what the Marxists are calling a "cliff"(minus any of the tax hikes imo), it would mean that we would get a tiny little slice of libertarianism.

 

That's now called going over a cliff. LOL

Tue, 11/13/2012 - 23:42 | 2978703 bart12
bart12's picture

I am all for going over the fiscal cliff. The media is fear mongering about the "fiscal cliff". People need to understand that this fiscal cliff is the best gift to USA to finally tackle its 17 trillion $ debt and increasing. The fiscal cliff will be the first step to resolve US debt problem immediately...Automatic Tax increase and spending cut is the only option for USA if anyone know how to do the math of addition and subtraction. If the US govt decide to kick the can down the road, the empire will definitely collapse worse than anything we have witness in history.. As for stupid Congress & Obama, the best they can do is to do nothing (when did they ever fix anything??)..

Wed, 11/14/2012 - 06:32 | 2979114 Iconoclast
Iconoclast's picture

PRINT FEST

 

Yep..

Tue, 11/13/2012 - 21:31 | 2978339 ACP
ACP's picture

Ron Paul will be around, and as the SHTF, more people will wake up. He's resting up for what's coming next. I just hope we'll have some more leaders like him who can continue the education that so many in the Western World so desperately need.

Tue, 11/13/2012 - 22:41 | 2978404 Michaelwiseguy
Michaelwiseguy's picture

First you got to get mad. Most people have forgotten how to do that. Here's an example,

For Pure Unadul­ter­at­ed Re­venge. That's all this is about.

www.myspace.com/video/vid/109079927

 

New Rand Paul video.

Is 1984 Now?

http://www.youtube.com/watch?v=ALN7LTeLxtI

 

Daily Paul community recommends this documentary.

Park Avenue: Money, Power & the American Dream

http://video.pbs.org/video/2300849486

 

 

 

Tue, 11/13/2012 - 23:29 | 2978661 Ident 7777 economy
Ident 7777 economy's picture

 

 

 

 

Gee, any college course recommendations in there?

 

Or just the 'usual' conspiracy-based, populist (you know 'common-man wisdom', 'man on the street knowledge' kind of stuff, the 'man on the street' who doesn't know bull about much truth be told; you ever watch Jay Leno "Man on the street segments") bullshit?

 

 

(I would have tossed 'Bircher' along side populist in there, but you might have thought I wrote 'birther' and that is a whole different animal.)

 

 

Tue, 11/13/2012 - 23:33 | 2978675 Michaelwiseguy
Michaelwiseguy's picture

That PBS show is biased, but there is good info in it.  College is a waste of money and negative return on investment these days. Conspiracy Analysis is a profitable course study, but it requires a high IQ.

I was asked to do a rewrite on this;

I discovered a way for you to say anything profound you want and present content any which way you are inclined, without any interference from the Progressers, Neo-Cons, or the dead stream media.  It's a get out of jail free card.

Prerequisite your incendiary thoughts if you perceive being attacked by the MSM, citing the name Alex Jones or invoke his name somewhere in the content, and you will never be bashed in the MSM for the information or opinion, as his name is banned from being spoken out loud on TV.

This is a monumental discovery.  Use it prolifically to say whatever you want. If you are challenged on TV for any perceived politically incorrect statement you make, invoke the name Alex Jones, and that will immediately shut up your challenger. It's like throwing holy water on a vampire.

Tue, 11/13/2012 - 23:40 | 2978685 Ident 7777 economy
Ident 7777 economy's picture

 

 

 

 

I wrote "College Courses"; I didn't say 'college' per se. Learn to read. (Although 'learning to think' I would say ought to be a LOT higher priority ...)

 

BTW, any mention of 'Alex Jones' and college in the same post is like bringing matter and anti-matter in close proximity with nothing good resulting from it. 

 

Tue, 11/13/2012 - 23:42 | 2978704 Michaelwiseguy
Michaelwiseguy's picture

So I gave you more than you asked for. Sorry. The course I recommended is "Conspiracy Analysis", I believe The Army War College offers it.

Wed, 11/14/2012 - 04:30 | 2979051 scaleindependent
scaleindependent's picture

Ident777 econ

 

People's posts on the net' are frequently warped out of their original meaning.  I hope that your posts do not reflect who you are.  I say that because your posts sound like you are a constipated, irascible creature.

Wed, 11/14/2012 - 00:44 | 2978832 Twodogs
Twodogs's picture

Wow, i mean, wow! My Space still exists?!!

Tue, 11/13/2012 - 21:56 | 2978405 Spastica Rex
Spastica Rex's picture

I'm sick of heros and saviors.

Tue, 11/13/2012 - 22:25 | 2978503 CrockettAlmanac.com
CrockettAlmanac.com's picture

Those who lead by example like Ron Paul don't need to billed as heroes or saviors. They gain attention and affection naturally.

Tue, 11/13/2012 - 22:49 | 2978561 DaveyJones
DaveyJones's picture

0%.  Isn't that what the big banks pay to borrow money from us?

Tue, 11/13/2012 - 23:20 | 2978652 nmewn
nmewn's picture

That would be the number...and if it takes even more degradation of fiat currency/labor, they go -0%.

Tue, 11/13/2012 - 22:00 | 2978414 Chuck Walla
Chuck Walla's picture

Ron Paul will be around, and as the SHTF, more people will wake up.

I disagree. 50% will not get the idea until the EBT cards are flashing TILT! Then, as they wonder who is responsible for feeding and wiping them, things will really hit the fan. They will be mad, hurt, angry and looking for new sources of free shit.

DETROIT! AMERICA'S NEW MODEL COMMUNITY!

Select the best small arms you can. Shotguns are very advised when the hoard comes looking for the people that have fed them all these years, the suckers in the middle class.

Do NOT follow this link or you will be banned from the site!