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Fred Thompson On Government Intervention

By: Steve Johnson

12/20/2008 - 13 Comments

A few months ago, Fred Thompson was running for President with new ideas to reduce government intervention.

Since then, the global financial crisis has lead to the largest expansion of government intervention is the history of our nation.  And the new President-Elect Obama is planning for even more economic intervention. 

Fred Thomson may not be as harsh at Ron Paul, but he is a fiscal conservative with ideas that line up very close to Ronald Reagan.

Here is a video of Fred’s view of the direction of the economy and the future of America. 

If Fred is right about this (and I believe he is), then we are going to see a major wave of inflation coming right behind the governments stimulus plans that have so far done next to nothing to stop the economic meltdown.

I think we would be much better off facing the recession - head on.

This week I participated in one blog carnivals

They did an excellent job and as usual, there are tons of great articles. If you have the time, I highly suggest you skim through this week’s carnivals.

89th Carnival of Money Stories

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Freedom: America's Competitive Advantage in the Global Market

Gamble argues that globalization brings far more benefits to the U.S. economy than it takes away. Gamble shows that both Europe and emerging economic powers like China and India have serious long-terms problems linked to their cultures, political structures, occasional instability, and state ownership of companies. These and other factors will eventually put a brake on the economic growth of hot emerging economies. The fundamental protections of property and free speech, a culture that promotes and rewards entrepreneurship, banking policies that make capital easily available, are still more supportive of economic growth and wealth creation than can be found anywhere else.

Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse

In discussions of today's economic meltdown and what to do about it, the Federal Reserve is a stealth helicopter: it never shows up on the radar. With the exception of a few esoteric specialists and those Ron Paul Revolutionaries who burst into chants of "Abolish the Fed!" Historian Thomas Woods notes in this important book, the Federal Reserve bears a large part of the blame for the mess we're in. In the first part of "Meltdown," Woods shows how both in theory and in practice, Fed policy fueled an artificial boom and is now leading us to a much larger meltdown.

Empire of Debt

Many Americans have resisted the notion that their country is an imperial power. The idea seems to contradict the values of the Republic and its Founding Fathers. But in Empire of Debt, prominent financial analysts Bill Bonner and Addison Wiggin argue passionately that not only is the United States an empire, but it is also one whose end is coming soon.

Crash Proof

Peter Schiff has predicted the economic hardship more accurately then any other economist in the world in this book. Everything from the housing crash to the credit crunch to the stock market. Peter has a plan to help you servive the crash. Peter explains why the Wall Street investment firms are still trying to sell you stocks, and was the house prices are likely to continue to decline for years to come.