In California, the Governator has declared a “state of emergency” and in New York, the state is facing a $47 billion dollar shortfall are among states going bankrupt and calling for federal (i.e. taxpayer) bailouts from a government that is living off borrowed money.
Here is Ron Paul doing what he does best – explaining to the utterly clueless “pundits” how government intervention in the form of “rescue” and “bailout” and “stimulus” are what caused the financial crisis in the first place. How the dollar is being destroyed and has made our government bankrupt. It won’t be long before the government does what Argentina’s government did – Nationalize our IRAs and 401Ks so they can fund more bailouts.
Quotes from the video:
“You have to allow the market to set the prices.”
“This won’t solve the problem.”
“Are you going to have a short painful period for a year, or are you going to prolong the agony with a depression.”
“You can’t save free markets by socialism”
“This country is bankrupt and we won’t admit it.”
“We are on the verge of destroying our dollar.”