Ron Paul: ‘We have the biggest bubble in the history of mankind’

Whether you sport a MAGA hat every single day of the week or you wish for the death of President Donald Trump and think the good times are because of his predecessor, you need to at least admit that this is the motherlode of bubbles.

Thanks to the immense sum of cash injected into the economy through vast money-printing schemes and artifically low interest rates, the asset classes have been stimulated. The stock market is topping all-time highs not because of sound fundamentals, but because of the Federal Reserve

With the Eccles Building gradually normalizing monetary policy – unwinding the $4 trillion balance sheet and raising rates – the market might deflate at any moment.

For former Representative Ron Paul (R-TX), that could result in a 50 percent plunge in the stock market.

Speaking in an interview with CNBC, the three-time presidential candidate warned that “we’re getting awfully close” to a market meltdown and potential recession.

“The recession is set in place by the inflation and the distortion of interest rates which have been going on now for too long, historically larger than ever before,” Dr. Paul said.

“We have the biggest bubble in the history of mankind. The bubble is bigger than ever before. There’s no avoidance of a correction. The only thing that makes a difference is how to handle it.”

Lamenting on the Republicans and Democrats, who, he says, are indifferent to deficits, money printing and spending, Paul explained that the country is living beyond its means, which can’t linger on forever.

“It can be pretty well validated by looking at monetary history that when you inflate the currency, distort interest rates and live beyond your means and spend too much, there has to be an adjustment. We have the biggest bubble in the history of mankind,” he said.

“I know it’s going to happen. It will come, and the bubble is bigger than ever before.”

Many will dispute Dr. Paul, but consider this: bull markets cannot last forever.