“Your big opportunity may be right where you are now.” -Napoleon Hill
Ron Paul and Our Fiscal Policy
This is a GREAT clip on YouTube.com that not only promotes Ron Paul as a candidate but about the issues that so many candidates dance around. It is poignant and enlightening. He is direct and informed. Even if not enough people can get together to get him elected, I think seeing his view of the budget and federal reserve are something that everyone should be cognizant of when voting.
He is lagging in the race (mainly because we think the republican party is not backing him due to his bold and opposing views) but has a HUGE grass roots and internet following. I so often feel that the government is going to hell in a hand basket and what is the use of my itty bitty little vote. If only we could collectively (as a group of individuals and America as a nation) affect change like this in the government. I feel like government has reached the point it is at because of a series of small concessions that have collectively deteriorated the fiber of integrity among officials. I have read Benjamin Franklin’s biography. I know that the country was founded on a different set of morals and intentions. But our nation has become capitalistic not only financially but with regards to power. It seems that becoming president is no longer the desire to be a public servant. When it was founded, the intention of our founding fathers was to create a type of government that did not subscribe to the rich. There was a time when the intention was to guide the nation to independence, free thought, productivity and stability. Now it seems that presidential candidates only volley for position not to improve the state of the country but to wield power, spend money and grant favors. I get the feeling (which of course is no reason to vote on something), that Ron Paul actually wants to be a public servant and is called to action by the crumbling state of the country’s financials. He not only seems to grasp where the country is financially but does not think that preserving his approval rating is more important that actually repairing it. I like that.
Click here to see —> Ron Paul - YouTube Clip
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The question is not whether or not the U.S. Federal Reserve Bank will cut its benchmark lending rate today, but if in fact the cut will have any impact on our wounded economy.
Whether the cut is .25 or .75 points – either of which would bring the rate to an all-time low, economists fear that the benefits simply won’t trickle down the consumer. Recent rate cuts have done nothing to boost the consumer credit market because given current economic conditions, the banks that aren’t going under find that issuing consumer loans at anything else than a premium is far too risky.
A great example of this is the current market for auto loans. Typically influenced by the prime rate, which was roughly 4%, Monday, the interest for a 48-month new car loan is 6.8%.
With Americans now hoarding their money and growing increasingly content with simply not losing their hard-earned greenbacks, the Fed may need to expend some of its “extra ammunition” in addition to its imminent rate cut to get consumers to start spending again.
So, what happens when the rate hits zero and its back to the drawing board for Big Ben and his crew? Here’s a great report written by Ben Bernanke himself on potential strategies for monetary policy when the key rate hits zero.
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