Given recent developments in the economy, it's worth posting a speech given by Ron Paul before the House from back in 2006. He had the foresight to see this mess coming. An excerpt:
"Denying us statistical information, manipulating interest rates, and artificially trying to keep gold prices in check won’t help in the long run. If the markets are fooled short term, it only means the adjustments will be much more dramatic later on. And in the meantime, other market imbalances develop.
The Fed tries to keep the consumer spending spree going, not through hard work and savings, <B>but by creating artificial wealth in stock markets bubbles and housing bubbles. When these distortions run their course and are discovered, the corrections will be quite painful.</B>
Fucking spot on, I'd say.
Neither McCain nor Obama saw it coming, and yet Ron Paul gets 5% of the vote. Here is the speech in its entirety:
http://www.lewrockwell.com/paul/paul319.html