EconomicGreenfield

I would like to comment on a commentary by Ron Paul in the November 16 edition of Forbes.  It is titled “Be Prepared for the Worst” and subtitled “The large-scale government intervention in the economy is going to end badly.”

The commentary can be found at this link:

http://www.forbes.com/forbes/2009/1116/opinions-great-depression-economy-on-my-mind_print.html

While I don’t agree with everything that Ron Paul says, I did find this commentary to be very interesting and well worth reading.  Here are some excerpts that I found particularly noteworthy: 

“A false recovery is under way.”

also:

“This is nothing less than the creation of another bubble. By attempting to cushion the economy from the worst shocks of the housing bubble’s collapse, the Federal Reserve has ensured that the ultimate correction of its flawed economic policies will be more severe than it otherwise would have been.”

also:

“What is more likely happening is a repeat of the Great Depression. We might have up to a year or so of an economy growing just slightly above stagnation, followed by a drop in growth worse than anything we have seen in the past two years.”

SPX at 1095.85 as this post is written