Time to Listen to Ron Paul?

Her Blog on Ron Paul broght in 100 times more comments than her normal blogs.. Her average # of comments are about 10 .. this one has over 450! Finally they're starting to talk good about him!

Partial Blog below, visit it here..

http://emac.blogs.fox...


March 26, 2008 10:37AM

Time to Listen to Ron Paul?

By Elizabeth MacDonald - Fox Business


Time to listen to Texas Congressman Ron Paul, the lone voice of reason in Congress today who?s got to feel like he?s shouting into a field of cotton with his repeated warnings about the dangers of a collapsing dollar, while the administration goes AWOL on the problem.

The dollar just hit a record intraday low against the euro on reports that consumer confidence levels have dropped to levels not seen since the post-Watergate era. It is down 7% year to date against the Chinese renminbi, it?s weaker than the Japanese yen and the Canadian loonie.

The joke is the greenback is now only stronger than the Mexican pesos and the Zimbabwe dollar, an overstatement for dramatic effect, to be sure.But since hitting a peak in 2002, the dollar has lost about a quarter of its value against a trade weighted basket of currencies.

A weak dollar acts as an anvil around the neck of the US economy and consumers. Rising inflation is essentially a tax on consumers, so are rising energy prices, and that double whammy threatens to undermine the purchasing power of the rebate checks due out in May?backed by printing even more dollars.

A bellwether event of significant import to our nation?s finances happened this past January 1 with little notice. That?s the day the first baby boomer was allowed to retire. A new federal report wearily warns once again for the umpteenth time that the nation faces some $60t in Social Security and Medicare unfunded liabilities alone...
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Countries pegged to the dollar are rightly saying, too, that we are exporting inflation to their shores. Saudi Arabia is a land that has had nearly zero inflation since 1998, but recently inflation soared to 7% annually, despite the fact the country is flush with petrodollars.

Congressman Paul rightfully warns us when he says the US government has ?systematically undermined? the US dollar by expanding ?the money supply at will for financing war or manipulating the economy with little resistance from Congress?while benefiting the special interests that influence government.?

It?s not just the US gunning the mints. Goldman Sachs figures that three-fifths of the world?s broad money supply growth came from emerging economies over the past year or so. Three-fifths. That?s gigantic....
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?Empires fail because they run out of money, or more accurately, run out of the ability to spend or inflate,? Congressman Paul warns. ?We need to control spending, immediately, before it is too late.?