Ron Paul: U.S. needs ‘a revolutionary change in our economic thinking’

For years, Ron Paul has been adamant and consistent about his Austrian, libertarian-learning economic thinking. Each time the former Texas Republican Congressman has been interviewed, he usually attacks the system and not those in charge. One just has to look back to the 2012 presidential election, Dr. Paul hardly criticized President Obama but rather the system – government, Federal Reserve, bureaucracy – itself.

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Paul is now urging, once again, for the United States to embrace “a revolutionary change in our economic thinking” in order to help the country return to its glory.

Speaking in an interview with Newsmax, Paul explained that the federal government is supposed to give the American people an environment where everything and everyone is “energized,” but now the U.S. is approaching the end, citing the collapse of the city of Detroit.

“We have to have a revolutionary change in our economic thinking and then the people are the ones that produce the jobs, not the government,” said Paul.

Paul recently predicted that the stock would experience a “day of reckoning.” In relation to this, he was asked if Donald Trump would be the man to help get the economy back on track. Paul believes there isn’t a single person who should be running the economy, which is a general fallacy of economic policy of the past century.

“[Trump] can’t run the economy, he can’t create jobs, and he should know that. He can create jobs if he stays in the building industry, but even his industry is going to be in trouble because he might build too many buildings because interest rates are zero,” he said.

Paul added that it’s imperative to get the population “to understand good economics,” and this is something that is very hard to do in politics because it’s unpopular.

“We do not have a free market. Every day the market gets less free, individual liberty gets further eroded, and we expand ourselves further around the world and the only reason this exists is that we have been endowed with the ability to print the reserve currency of the world,” he said. “We have to change a lot of policies. Regulations cannot solve the problems that government creates.”

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The three-time presidential concluded that each time you produce a new regulation you create two new problems, which establishes a pyramid over time.

“That all has to end and it will end. The question is, what are we going to put in its place?”