Ron Paul Jabs Jenet Yellen: She's A False Prophet Of Prosperity

Tyler Durden's picture

Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity,

Federal Reserve Chair Janet Yellen recently predicted that, thanks to the regulations implemented after the 2008 market meltdown, America would not experience another economic crisis “in our lifetimes.” Yellen’s statement should send shivers down our spines, as there are few more reliable signals of an impending recession, or worse, than when so-called "experts" proclaim that we are in an era of unending prosperity.

For instance, in the years leading up to the 2008 market meltdown, then-Fed Chair Ben Bernanke repeatedly denied the existence of a housing bubble. In February 2007, Bernanke not only denied that “sluggishness” in the housing market would affect the general economy, but predicted that the economy would expand in 2007 and 2008. Of course, instead of years of economic growth, 2007 and 2008 were marked by a market meltdown whose effects are still being felt.

Yellen’s happy talk ignores a number of signs that the economy is on the verge of another crisis. In recent months, the US has experienced a decline in economic growth and the value of the dollar. The only economic statistic showing a positive trend is the unemployment rate — and that is only because the official unemployment rate does not count those who have given up looking for work. The real unemployment rate is at least 50 percent higher than the manipulated “official” rate.

A recent Treasury Department report’s called for rolling back of bank regulations could further destabilize the economy. This seems counterintuitive, as rolling back regulations usually contributes to economic growth. However, rolling back bank regulations without ending subsidies like deposit insurance that create a moral hazard that incentivizes banks to engage in risky business practices could cause banks to resume the unsound lending practices that were a major contributor to the growth, and collapse, of the housing bubble.

The US economy is already faced with several bubbles that could implode at any time. These include bubbles in student loans and automobiles sales, and even another housing bubble. The most dangerous of these bubbles is the government bubble caused by excessive spending. According to a 2016 study by the Mercatus Center, at least four states could soon join Puerto Rico and Illinois in facing bankruptcy.

Of course, the mother of all government bubbles is the federal spending bubble. Despite claims of both defenders and critics of the president’s budget, neither President Trump nor the Republican Congress have any plans for, or interest in, reducing spending in any area. Even the so-called cuts in Medicare and other entitlement programs that have generated such hysterics are not real cuts, but “reductions in the rate of growth.”

Some fiscal conservatives are praising the administration’s proposal to finance transportation spending via government bonds. However, the people will eventually have to pay for these bonds either directly through income taxes or indirectly through the inflation tax. Government-issued bonds harm the economy by diverting investment capital away from the private sector to the “mixed economy” controlled by politicians, bureaucrats, and crony capitalists.

If Congress continues to increase spending and the Federal Reserve continues to facilitate that spending by monetizing the debt, Americans will face an economic crisis more severe than the Great Depression. The crisis will likely result from a rejection of the dollar as the world’s reserve currency.

Those of us who know the truth must redouble our efforts to ensure a peaceful transition away from the Keynesian system of welfare, warfare, and fiat currency to a society of peace, prosperity, and liberty.   

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Deathrips's picture

Shes also a theiving moneychanger.

 

FIFY Ron.

 

RIPS

Ajax-1's picture

Like all banksters, her God is John Maynard Keynes and her Temple of Worship is the Federal Reserve.

TBT or not TBT's picture

ZH should shy away from such crisis talk.  Best stick with your knitting.  

NAV's picture

Nobody proposes on the backs of the private sector the kinds of big spending, left-wing socialist policies that the Fed supports, unless they are socialists as was Keynes and as is Janet et al. 

The banks’ stimuli are socialistic—the International bankers are using big government and the private sector to support, reward and continue to feed the great masses of non-producers as they manipulate themselves into control of the world. AFter one hundred years the Fed has gained the necessary economic and political power to seize the human and natural resources of the entire world. Seizure of that power has resulted from Communist and Socialist legislation.

Keynesianism, as Mussolini agreed, is fascist economics.

“The Italian dictator Benito Mussolini is often quoted as having said that ‘fascism should rightly be called corporatism as it is a merger of state and corporate power:’ He should know, he invented the term and the concept. Italy’s anti-worker, union-busting corporations loved him as much as most 1930s German corporations loved and supported Hitler (and the Bolshevik bankers loved and supported Lenin and Stalin, i.e., Marxist Communism). -- The Powers and Abuses of America’s Mega-Corporation – Dr. Gary G. Kohls, Global Research, March 04, 2014

digitalrevolution's picture

Can't call it a crisis if it never ends

Fartboxbuffet's picture

Not this putz again why doesnt he ever mention thé cause of this nations problems zionism spit it out putz you wont ron because your tjere shine box boy so run home and get your shine box shoes need to be shined

liverdiefree's picture

Well of course Jews, being maybe 1.5% of the world's population dominate the 98.5%. Look how incredibly stupid they are, taking fartboxbuffet as representative. Gads man, better to keep your mouth shut then to shout to the world "Look at me! I'm an imbecile."

rejected's picture

537 members government rule 350 million people in the US. Somebody calculate the percentage....

Fartboxbuffet's picture

Im not a jew im a goyium but i do know whos runnin this fuking shit show how many jews is lord drumph surrrounded by o steven munchkin Gary cohen lol the list goes on 

Fartboxbuffet's picture

Another think cock head thats your thumbnail cock head expalin how 1 percent controls 99 percent of the wealth i think your a closet jew come out of your closet if your a dwarf come out of the cupboard

Yen Cross's picture

  I'm surprised 'Ron Paul' wasted his time?

  I didn't ask for this job!

JackMeOff's picture

My Grandmother (god rest her soul) was always positive and my biggest cheerleader, even though I knew she was full of bullshit.

VWAndy's picture

 Jannet Yellen the skittle shittin unicorn.

Reaper's picture

Congress can end the Fed, take the Fed's $4 trillion in assets, all obtained by printing the People's money to reduce the debt, With access to Fed's books(?), the People can recover some of the missing $9 trillion at the Fed. The Treasury can print dollars, instead of the Treasury borrowing and the Fed printing to buy the debt. Yes, printing has consequences, but the Treasury printing doesn't add to debt. The Treasurer of the US can be voted out, but the Fed is forever.

The Fed is the absurdity of bankers as a benevolent uebermenschen. $4 and $9 trillion dollars, the ultimate moral hazard, corrupts absolutely.

Sid Davis's picture

Lies are one mode of operation of sociopaths and psychopaths; even when not necessary they seem to spew forth out of habit.

Certainly all these people associated with this great fraud that is fractional reserve and central banking can be described only as criminals of the highest order, that is, if judged by the magnitude of the take.

If this were a just world, they each would be hanging at the end of a rope or burning with used tires set around their necks, with their former victims cheering as part of the onlooking mob.

alfbell's picture

It's not The Fed Ron. That's the wrong target. It's Congress. To be more accurate, it's the Military-Industrial-Congressional-Security Complex and all of the politicians and unelected officials who support it. 

Flounder's picture

So what does that make Greenie and the Bernank?

junkyard dog's picture

Ron, sweetie, we know you are fully aware of the situations. We believe you but, would you please do something about it instead of jawing about it? I love you Ron, but after all these years, all you have giving me is that idiot of a kid of yours.

NAV's picture

If Ron Paul had not fraudulently been kept off the ballot by the Republican Party, he would have been president. Paul and the swelling tide that pushed him to the political top was, IMO, the precursor to theTrump victory.

Even with a Republican Party already missing a huge percentage of activists disgusted with its war policies and corporate fascism, Ron Paul was only stopped through massive primary election fraud, and a consistently negative media paid for by the Zionists.

Polls show Ron Paul would have defeated Barack Obama, especially because of his spectacular support from young people and military personnel. In the end, he was not an opponent of Israel, he was just judged to be not a lapdog of Israel.

JailBanksters's picture

She's never claimed to be a True or False Prophet, and Prosperity well that depends if your a Jewish Banker or Not.

It is the Jewish Bankers that have propered quite well under Old Yeller and far more than under anybody else.

 

MonsterSchmuck's picture

God bless Ron as he still pisses into the American wind.
I hear you Dr. Paul!
I hear your endless warnings.