The U.S. Economy Endorses Ron Paul for President

Saturday, January 5th, 2008 

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From The Paulunteer Mailbox
Thanks to Ernest for the tip.

“Mr. Paul was dead-on with his prediction that the Fed was blowing a new bubble and that it would burst violently.”

I love that the reporter has to explicitly state below that he does not actively support Paul because otherwise this looks like an outright endorsement.

Some saw this coming, including presidential candidate Ron Paul. As far back as 2002, Mr. Paul - whose candidacy I’m not actively supporting - predicted the Federal Reserve would blow up the housing bubble.

Besides the Fed’s low-interest-rate policy, which encouraged excessive borrowing to buy homes, its refusal to regulate mortgages gave lenders license to sell whatever mortgage products they could dream up, no matter how risky. Mr. Paul was dead-on with his prediction that the Fed was blowing a new bubble and that it would burst violently.

Another Paul prediction, that Fannie and Freddie will go bust, forcing a taxpayer bailout, remains controversial because few think the housing crash could be that bad.

But consider how vulnerable Fannie and Freddie are.

Winkler concludes, “It’s a shame others in Congress weren’t listening to Ron Paul in 2005.”

Full story at BaltimoreSun.com.