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Ron Paul on Morning Joe

Written by Subject: Economy - Economics USA
Joe Scarborough on Morning Joe:  Interview with Ron Paul.    Joe is talking about his new book, “The Last Best Hope”.  And how Joe is “STUNNED” about a warning Ron Paul had made in Banking committee so he reprinted it in its entirety.  “The special privileges granted to Fannie and Freddie has distorted the housing market by allowing them to attract capital they would not be able to attract under pure market conditions.  Like all artificially created bubbles the boom in housing cannot last forever. When Housing prices fall the home owners will experience difficulty as their equity is wipe out furthermore the holders of the mortgage debt will also have a loss, these losses will be greater than they would have been had government policy not actively encouraged over investment in housing.”  Ron Paul address to the house Sept 10, 2003

Joe to Ron Paul, “How is it that you knew this in 2003 and no one else knew it?”  Ron Paul “Most people in Washington only know about the Keynesian economics, they do not even know about Austrian Economics “