Tags: ron paul | bubble | recession | debt

Ron Paul: US on Collision-Course With Recession

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By    |   Friday, 05 October 2018 09:36 AM

Former Republican congressman and two-time GOP presidential candidate Ron Paul warns that the U.S. is barreling towards a recession of titanic proportions.

“I think it’s coming, I’m not saying that in six months ‘I know it’s going to happen,’’ he told CNBC.

The Newsmax Insider belongs to the Libertarian Party, a faction that emphasizes constrained government spending. He sees federal spending and monetary policy as dual forces inflating a market bubble.

“The recession is set in place by the inflation and the distortion of interest rates which have been going on now for too long, historically larger than ever before,” the former Republican Congressman from Texas said.

The seemingly endless bull-run stock market will also come to a sudden halt.

“We have the biggest bubble in the history of mankind,” he said. The bubble is bigger than ever before. There’s no avoidance of a correction. The only thing that makes a difference is how to handle it,” he said.

“Republicans and Democrats are alike, the don’t concern themselves about deficits. The only thing that they can do is print money and spend money and teach everbody to ignore the deficits,” he said.

“You can’t dispute fundamentals. You have to pay for people living beyond our means. People are in debt, the government is in debt. There will be a payback,” he said.

“You can’t disprove fundamentals. If you run up debt and print money and distort interest rates. You get distortions they have to be corrected and you can’t do that forever,” he said.

“We see little signs of that in people not buying as many cars, houses, rising mortgage rates.”

Ron Paul is a physician, author, and former Republican congressman. Paul also is a two-time Republican presidential candidate, and the presidential nominee of the Libertarian Party in the 1988 U.S. presidential election. His latest book is “Swords into Plowshares." For more of Ron Paul's reports, Go Here Now.

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Former Republican congressman and two-time GOP presidential candidate Ron Paul warns that the U.S. is barreling towards a recession of titanic proportions.
ron paul, bubble, recession, debt
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2018-36-05
Friday, 05 October 2018 09:36 AM
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