Ron Paul Predicted Fannie Freddie Failure in 2003
I said it in a previous blog. Anyone with a grain of sense and a basic understanding of economics knows you can’t outsmart the iron laws of economics. Austrian business cycle theory perfectly describes today’s catastophe and predicted it – 100 years ago.
This link, wherein Ron Paul describes what’s happening was just brought to my attention. Thing is, Dr. Paul knew it in 2003. Actually he, and most libertarian economists, have been saying it for decades.