Ron Paul tells it like it is

Wolf Blitzer and CNN provide seven minutes for a Ron Paul interview in which he explains the basis for, and potential solutions for, the current credit crisis. As usual, it's a no-punches-pulled commentary on his part. Worth listening to, in my view.

For those without seven minutes to spare, the argument boils down to this: The American people (and the American government) have to live within their means. People should not have (or should not have been allowed to) buy houses they couldn't afford, and government should not spend money it doesn't have. Attempting to solve the imminent financial crisis by essentially printing more money and bailing out the institutions does not solve the problem - it lengthens it (and enlarges it). The bailout will place the US dollar under more pressure, which hurts everyone, not just those with stocks, bonds, and money market funds.

This is the same message he offered during the campaign. He was marginalized then. People probably won't listen now. I post it so those few who are interested can hear it. It is common sense (and truth) from the man who is the senior ranking member of the congressional banking committee.