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Ron Paul has His Hands Full

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05/08/2012

At a hearing (going on NOW) of the House Financial Services Committee on the Federal Reserve, Ron Paul is dealing with Lacy Clay who in the past called Austrian Economics "unscientific" because it was deductive, a Keynesian Democratic congressman (Keith Ellison) who wants the Fed to inflate more to focus on the "employment" side of the dual mandate, a Friedmanite Republican congressman (Kevin Brady) who wants a "single mandate" of "price stability" (posing, of course, as a free market advocate), and Barney Frank, who defends the "dual mandate" as it is, and even just commended George W. Bush for appointing Ben Bernanke, and defended the Fed Chairman as having been "unfairly criticized."

Fortunately Paul will be joined soon at the hearing by two of the soundest economic thinkers in the world: Peter Klein and Jeffrey Herbener.  (See their submitted testimonies here.)

Dan Sanchez is a libertarian freelance writer. He is a contributing editor at Antiwar.com, where he writes a regular column, and an independent journalist at Anti-Media. His work has frequently appeared at such websites as Zero Hedge, the Ron Paul Institute for Peace and Prosperity, and David Stockman's Contra Corner. His writings are collected at DanSanchez.me.

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