With Rep. Ron Paul retiring this year, his epic battles with Federal Reserve chairmen are coming to an end. But his last run-in with Ben Bernanke took a more reflective turn.
Bill Bonner and the analysts over at The Daily Reckoning are feeling fairly vindicated this week. They have been investigating how the federal government may have rigged the system over the past 30 years, directing funds to help the rich get richer.
Evidence is mounting that the economy is taking a hit because Congress can't – or won't – deal with the 'fiscal cliff' looming at year's end. The fight on Capitol Hill last summer over the national debt limit also took an economic toll.
What’s the point of having an economy, asks Bill Bonner? It makes no sense to waste trillions of dollars’ worth of resources just to “protect the economy,” he says. The whole point of an economy is to create more stuff, not to waste it.