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. "

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Quarky Gluon's picture

I don't think the citizens have ever expected the government to do as much as Paul says.  Congress and the president just keep on acting seperately from the public and then just hold a popularity contest every 2 years to see who gets to stay or join up with the ivory tower that is capitol hill.  Who among the citizenry, after all, has demanded we have several hundred overseas military bases?  Not many, but the politicians go ahead and fund those bases, give out foreign aid and farm subsidies that most citizens are blissfully ignorant of, much less advocating for.

Also, I highly doubt that we are not as productive as we used to be.  I'm quite sure instead that we are much more productive than we ever have been.  It is just with every improvement in productivity, the fruits of those improvements have been going into fewer and fewer hands.  Unfortunately that regressive trend will likely continue where every job lost to technology will only represent a loss of income for the worker replaced by the machinery while the owner will just hang on to all the increased profits due to the total cost of ownership of the machine being less than the cost of the employee.  I don't see any other way to reverse the trend other than with the help of the government to force a fair redistribution of the nations wealth and bounty.  

We are living in a fundamentally different time from when the constitution was written.  There was no such thing back then as the computers, robots and artificial intelligence that now or in the future could potentially replace the modern day equivalent of the colonial blacksmith, cooper, cobbler and every other position that was once held by a human being.  Without a government enforced fair distribution of wealth, how will a human be able to have any income in a world where there are no no longer any jobs that provide an income for humans?



Jugdish's picture

There was no such thing back then as the computers, robots and artificial intelligence that now or in the future could potentially replace the modern day equivalent of the colonial blacksmith, cooper, cobbler and every other position that was once held by a human being.


You forgot rampant free pornography.

Real Estate Geek's picture

But we already have a government enforced fair distribution of wealth. The problem is that you have a different definition of fair.

bunnyswanson's picture

China pulled millions out of poverty in the last 10 years, leaving millions of American workers in poverity as a consequence.  and..they took the jobs of their customers.  

Bringing all citizens across the globe up to standards of 1st world life and you'd create millions of new consumers.  I believe this could end up being the only solution, right after dissolving megacorporations and attempting for a change to do honest business for the good of society, that is.  

The 2nd video in this link is very informative about what is taking place in the NE with regards to aftermath of Sandy.   remember it is winter in the NE.

dark pools of soros's picture

Pinata Economics....  just a smash and grab

P.T.Bull's picture

If a dolt like obama with his disasterous campaign can win a second term, republicans are no longer relevant, and we are past the tipping point. No hope and change this time, no pretending things will get better--just a vote for the status quo. And republicans should be irrelevent, as they have successfully resisted libertarian influence and put forward a status quo candidate romney. White teeth and no apparent core beliefs.

Money 4 Nothing's picture

He didn't win a second term, they stole it. 59 districts in Philly recieved -0- votes for Romney the RINO, Nuff said. Florida had more ballots casted in some counties then they have residence. Go search that.

jomama's picture

par for the (s)election course.

and notice Romney didn't say shit about what you just mentioned.  just like good little bitch Kerry didn't.  

LateToTheTable's picture

Is theft committed on the thief a crime? If so, there is no reason to wonder why this menagerie of humans- in the failure of- being, continue to entertain with kabuki.  

Oh, the Out Rage! - cut one, scene nine, (the actors take their places).  Help me out here kind ZH - I've lost my place on where we are in the script.

The corruption is so deep and pure that few, yes very few, could execute a cleansing.  The rot has become so profound that even the dullest of knives in the drawer can smell it.  And if there was a fair executioner to be found ~ who could withstand the fire that would burn them to the ground they traversed?

Wait with enduring patience, said the watchman, We shall see for it's coming.... Hell is a comin'.

Yen Cross's picture

 Tis the Ron Paul season. Red Costumes, and grey beards.

Money 4 Nothing's picture

Wow! This Ron Paul guy seems pretty smart! I think he should run for President some day...

seton's picture

Yeah dude, where has this guy been in the last 4 years?

Yen Cross's picture

Just sell some puts, or  buy some out  of the money "February Calls", to hedge your self.

SanOvaBeach's picture

What is for desert?

Real Estate Geek's picture

JHC!  I had to pause the interview because I'm so irritated.  How many fucking times is that bubblehead going to ask the same goddamn question? 

Re:  Dr. Paul.  This interview really highlighted his mental acuity and laser-like focus; no teleprompter and no uh's and ah's while his brain caught up to his mouth.  The country had its chance to elect an intelligent, educated, honest man as President, and we are going to rue the opportunity lost. 


Yen Cross's picture

 This  crap is old!  I'm tired of the same  old shit!  A bunch of " douche bags" that have never traveled abroad!

  I'm so burn't on children! You fucking worthless entitled piglets'

Incubus's picture

Ron Paul -- 1st President of the New United States of America


bet me we'll see it in our lifetime.

Yen Cross's picture

 i can't believe the way that these kids minds are being pillaged!

MikeMcGspot's picture

I understand it and am not standing for it. I protect my children, as they will for me in time as they learn the lesson of gratitude and reciprocity understand.


Or not.

Yen Cross's picture

 You know yer getting old when ?  Just having some fun...

Yen Cross's picture

 I made a promise. I'll send a notorized copy of my donation to Tyler.  I hope he brings back"captcha"

Jim in MN's picture

Yen Cross is OK in my book.   A ZH fixture. 

Haters B hatin' but God's love is free.



Yen Cross's picture

 I do not want to be the "mayor of Z/H"! I occasionally contribute"....

Peter Pan's picture

I salute Ron Paul for not riding into his sunset years quietly. The truth must always be spoken, particularly when it is under constant attack by vile politicians and bankers. It must be spoken even when dark forces seem to have defeated the nation. It must be spoken even when there is no one left to hear it.

Yen Cross's picture

 it's OK, we all spend some time in the "out house"

MikeMcGspot's picture

 In the world of monitor and control.

Understand your role bitch,


MikeMcGspot's picture

So i will become the Architect of Control, make the plan for World Conquest and Domination.

The folks doing it now are failing with great penache.

That is not my way.

May you have it as you wish.

All the best!


McRocket's picture

I fear Ron Paul will be dead/near dead before the country realizes that he was right ALL along.

I believe he will be looked back on by history as a beacon of political sanity in a sea of short sightedness. A man who stood up against almost everyone to say what was right.

Fortunately, there are all these videos to show people of the future just how right he was.

I have no heros...but if I did, he would be one of them.'s picture

Ron was genuinely pleased and surprised by the support he received in 2008 and 2012. He's been speaking out for liberty for forty years and for the first time he has the attention and affection of a million people, many of them young people who will determine future events. He's tickled pink which is certainly fair as he's likely done that to a baby or two in his time.

Floodmaster's picture

Same old speeches, Ron Paul Economics would lead to a depression, he want to pull the plug on the boomer debt debauchery ??? This economy is run by and for the Boomer assets inflation.Don't forget that they own 78 percent of America’s financial assets and 80 percent of all money in savings accounts. Bankers love inflation and hope they will be dead before the exponential wall of debt occurred. This slow-motion train wreck cannot be stopped, resistance is futile,politics won't change a thing.

nice tangent line ...

falak pema's picture

BRuce Krasting also predicted this. Good shooting from the hip.

luckylongshot's picture

There are only three things that grow exponentially and all three end in death....cancer, parasites and compound interest...Ron as usual is spot on!

Dre4dwolf's picture

Everyone is too grounded, everyone is clinging to their rock afraid to fall off, ........JUST........LET..........GO..........

Monedas's picture

Monedas to Earthlings .... You're fucked !

Monedas's picture

CNN report on a mutilated African child:   "I felt his grief ! I felt his pain ! I wanted to do something ! (So, I dumped him on the doorstep of the US taxpayers !)"     US undeclared dumping ground for all basket cases that move liberal hearts !  Tax Genocide decimates our families .... we are still expected to pay up and smile ?

Aegelis's picture

Ron Paul reminds me of a father and oil changes.  "I told you over and over again to change the oil every 2,500 miles or else your engine would eventually blow up.  Now that you're stuck on the interstate you're calling me?"

cgagw's picture

Failing to deliver the same quality, flexibility and cost could erode the goodwill service providers real Oakley Sunglasses wholesale are safty have built up over the years,The critical next step, according to Hall is to outpace customers' security capabilities.

MikeMcGspot's picture

Episode 27, Ron Paul spin on earthlings,

Oh the sense of urgency, I think I going to swoon!

Catch me, cathch me please.

Frankly my dear I don't give a damn.