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VP Watch Paul Ryan: Entrepreneurial Capitalism vs Crony Capitalism (Video 08-02-12)

House Budget Committee Chairman Paul Ryan has usually cast himself as the voice of reason in debates. Which is to say that Ryan isn’t typically known for raising his voice or getting excited about topics very often, preferring the comfort of impartial statistics to polemical or ideological argumentation.

Yet today, Ryan threw off that image a bit and revealed a surprisingly convincing passionate side, in a speech that had National Review’s Robert Costa wondering if Ryan was rehearsing for a Republican National Convention speech. And if he was, could it be the coveted Vice Presidential slot that many are speculating Ryan is a frontrunner to receive?

The full story is HERE and part of Ryan's speech is below:

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The Coming Economic Debate; Demand vs. Supply Side

Tom Woods, a recognized authority in Austrian Economics, has produced a great, short video that serves as an introduction to the policies of supply side economics. He will introduce you to a "A Friend of Freedom," Ludwig von Mises. This to help you understand the current disastrous economic policies we are suffering through for the past four years under the Socialist Obama regime, and to provide insights to a sound, lasting solution, free market capitalism.

Socialism will never endure in the European Union (EU) or the United States as the tenets of a controlled economy are inherently fatally flawed. Just look to the EU today as it slowly, but surely, crumbles into the dustbin of history. A monument to men's egos that have promulgated the centrally controlled economics & social welfare state. How much more suffering the Europeans will tolerate is unknown. What is known, is that people with nothing to loose, loose it, and will be driven into civil disorder to survive. So, let's look at the solution.

Briefly, here are the basic tenets of Austrian economics, or supply side economics as some will call it. The main points are:

1. Free market 'pricing mechanisms;'
2. Sound money;
3. Reduced Tax Rates;
4. No interventions or enabling from a central bank system;
5. Smoothing out of the business cycle by eliminating boom-bust cycles;

Sounds interesting in light of the current malaise we find ourselves in with the policies of an avowed Socialist in charge of the government. You can probably see some of these in your life at work. Here's some quotes to elaborate the principles as most Americans have never even heard of these ideas. Well, now you do.

""Without a foundation of sound money, a market-determined money, cycles are inevitable and destructive not only of short-term economic well-being but potentially destructive of long-term freedom and prosperity. It is urgent then that policy makers take seriously Hayek's proposal, developed during the economic crisis of the 1970s, for drastic monetary reform, for a "denationalization of money."" (John P. Cochran)

"Sound money then is money whose purchasing power and quantity are determined by consumers' and producers' valuations, preferences, knowledge, and resources — that is, a market-determined commodity money absent government intervention." (Ludwig von Mises)

""Central-bank response to the most recent crisis and slow recovery has moved in the direction of greater, not lesser, central-bank involvement in the economy. Recent troubling trends include money creation to finance massive government deficits, the Fed engaging in "modustrial policy," and becoming a gigantic financial central planner."" (John P. Cochran)

To read further on these tenets, John P. Cochrane has testified before the Subcommittee on Domestic Monetary Policy and Technology of the Committee on Financial Services, US House of Representatives re "Fractional Reserve Banking and Central Banking as Sources of Economic Instability: The Sound Money Alternative," June 28, 2012.

This Fall, you will likely hear these issues in some form of a political debate. The cat is out of the bag now worldwide as economies revisit the depression. As an informed citizen, familiarizing oneself with this information you can help others become aware. The current economic system must be reformed, much in the same way as returning to Constitutional principles.

"Every decent man is ashamed of the government he lives under" H.L. Mencken

Addendum:

Coincidentally, last night comes the release of a story concerning an e-mail sent by Sec. of the Treasury, Timothy Geithner, followed by a correspondence 'dump' of documents from the New York Federal Reserve Bank today regarding the manipulation of the Libor Interbank Offered Rate that is supposedly 'set' by corresponding banks in London & New York. It appears from the released documents, that the US & UK central banks have colluded in the manipulation of the rates. These rates are used to determine the underlying rates on US home mortgages, credit cards & various other loans & securities worldwide.

Obviously, when the central bankers distort interest rates, the true pricing of money will never be obtained. This is Keynesian policies gone wild. This mispricing of money has contributed to the housing bubble that is costing homeowners & taxpayers considerable hardship. The problems are in our face; the solutions are within our grasp. Mitt Romney must make as one of his top priorities to improve the economy & create the climate for job growth, the reformation of the US banking system. It is imperative.

America’s Labor Market Depression Continues; Stagnation Nation

James Pethokoukis, columnist and blogger at the American Enterprise Institute has written a great piece to review & visualize today's BLS unemployment report. Beyond the raw data, charts & statistics is the waste of human capital caused by the Marxist/Socialist regime of Barack Obama. Only until he & his ideologies are extinguished, can the Nation rekindle economic growth & prosperity for all. The political & economic tyranny must end.

The comparisons to previous recoveries reveal this one does not even come close, with or without Obama's 'recovery' plan, with our less than 2% growth. Our country's malaise can be summed up in one sentence from Ludwig von Mises:

It is not capitalism which is responsible for the evils of permanent mass unemployment, but the policy which paralyses its working. ~Socialism

While Obama asks for more time, he only wants to further weaken the economy & dispirit the Nation. His time in office is coming due, he is responsible for his actions & policies that has brought nothing to the working people of the Nation. Only his friends & cronies have benefited from his regime's policies. Here are some excerpts & another graph from Pethokoukis: