The Election Campaigns Have Some of The Dumbest Economic Ideas
American politicians have adopted, and continue to dream up, some of the dumbest economic ideas. Our major economic issue is “corporatism,” where crony corporations have the concealed ability to wield state power. To the naked eye, Americans believe that government agencies provide a check against big corporations, right? Wrong! Only the free market prohibits corporations from wielding state power. Naturally, big corporations hate the free market, and they want American citizens to hate the free market too.
Hello, everybody, and thank you for tuning in to the Liberty Report.
With us today, we have Chris Rossini, our co-host.
Chris, good to have you with us.
It's great to be with you, Dr. Paul.
Good.
We're going to talk about the government, but we were looking around for some good things to say about government.
How many lives have they saved?
How much liberty has they returned to us?
How much peace have they created?
Chris, I'm having trouble.
I can't find anything.
But I did find something that, you know, because it's so bad, it's a little bit entertaining.
So we're going to talk a little bit about the absurdities of the bipartisan gang of people up there that get together and do dumb things.
And, you know, I want to start off by one article that was on the Wall Street Journal today that makes a point, but we can apply that to more than just one thing.
The Wall Street Journal said, Biden, Harris, Trump, Vance, and the dumbest economic idea.
And I said, well, that's bipartisan.
You were supposed to do things bipartisan.
We want to talk about that and explain a little bit about the dumb idea.
That's a real contest because there's so many dumb ideas floating.
We could associate some of these dumb ideas with the Federal Reserve.
Oh, print more money and the money will go up in value.
It will solve our problem of inflation.
All that nonsense.
And yet there's one here that you discovered that was, I think, pretty darn important too.
It's not much smarter than the one I just mentioned.
And the title from your article that you picked from Zero Hedge, it says, FDA Authorizes New COVID-19 Vaccine Without Clinical Data.
I thought that was a problem with the last time.
People died because they didn't do it.
So here, and they're bragging about this.
But, you know, what they're doing is lining up a couple bucks and they're ready to bring that out.
But no real testing.
And I think that this represents a principle that happens.
Why do they exist?
Why does the FDA exist?
Well, the pretense to the people is that they're to protect us.
They're to protect our health.
They're to take care of us, which is a nonsense.
That shouldn't be the reason we have governments.
The government should protect our liberties so we can take care of ourselves.
Instead, they get involved in taking care of everything that we do and provide everything and they interfere, but it's always to protect us.
But they never think about protecting us from the government.
And that's what this program is frequently about.
How do you protect yourself against the government and the abuse and the destructions of our freedom?
So this is something that's going on right now.
I think this whole idea is just a falsehood that they can protect us and get involved in medicine.
And you'd think they would have learned something from the COVID a couple of years ago.
We're still suffering from it.
And they're getting ready to do it again.
And the same thing without really testing.
Is it safe and effective?
Well, even if the government told us if it was, we couldn't believe them.
But no, they don't even go through that anymore.
They said we just make these assumptions and tell them it's okay.
And all of a sudden, but guess what?
From my first guess, what's going on, Chris, is that the companies are probably not going to roll in quite as much dough as they did a couple years ago, but they're trying to.
They have to scare people.
So we can expect, even though they have a struggle finding without this new medication, enough justification to scare the people enough for the people to go along and roll up their sleeves and do what they're told.
So this is getting over and over again.
And this FDA, their stupidity is in competition with this coalition of the dumbest economic idea that was ever proposed.
Chris?
That's right, Dr. Paul.
And if you ask the average American, they really do believe that these federal agencies are there to protect us from the corporations.
And it's, I mean, it's the ultimate trick because it's really the corporations that are doing the regulating.
You know, they're on these, the FDA.
You know, they come from Pfizer.
They come from.
So what has happened is we've given the corporations the power of the state.
We've given them the ability to use force via the government.
The exact opposite of the free market.
But Americans believe that, no, you need the FDA.
Otherwise, the corporations, they'll do whatever they want to us.
No, they are doing whatever they want to us with the FDA.
And, you know, they're calling this another vaccine without clinical trials.
Everybody knows.
You know, I have people tell me all the time that I know they took the vaccine.
They're like, you know, that wasn't a vaccine.
I don't know what they gave me.
But this is what Americans have been conditioned to believe that we need.
And it's, you know, it's the worst thing.
You've given corporations who are driven by money, not necessarily, you know, any in any way that they can get, the power of the state behind them.
And this is what has hurt us.
And all the dumb economic ideas that we hear from both sides, this is the core issue that we have.
We have to get rid of all these agencies and force these companies to compete with one another without any state power in their hands.
You know, one thing they wanted to do because they anticipated there'd be people like this Chris Rossini coming up with these ideas and telling the truth.
So they had to counteract from him getting this truth out.
But there is a paragraph in here to try to answer, Chris, all your concerns.
And in the article, it says, United States, this is to show that, no, they didn't do the testing of safe and effective, but they're explaining why you don't have to worry about that.
United States ended the COVID-19 public health emergency in 2023.
Oh, well, now they lost their authority, but extended the emergency declaration under the Public Readiness and Emergency Preparedness Act until the end of 2024.
All the way through the election, they can be busy scaring the people.
The FDA issued the emergency authorization under that authority.
Oh, they have the authority.
And that pleases them, but they shouldn't even be involved.
And a lot of people will come up, and I'm sure you've heard this, Chris, is that people will say, well, if the government doesn't do it, who's going to do it?
Well, if nobody did it, it'd be a lot better when the government doing it because they make things worse.
But the whole thing is, is there would be private organizations that would be credible because they would do this research and their reputation would depend on giving correct advice.
And there'd probably be two or three groups like this doing it.
And for a service like that and information that you finally found somebody that you could trust, you could pay us some money to get information because it would be so much more valuable than the government telling us what to do.
But their motivations are different.
If it's private, their motivation is to provide a service and to help people and to contribute to good health.
But unfortunately, we have gone in the opposite direction, especially with the COVID disaster, and yet they're still at it.
They're not willing to give up except, Chris, I think the people are waking up and I'm hoping they don't get any clear sailing like they did a couple years ago.
Dr. Paul, that is such a great point.
We can have private, you know, like consumer reports and any derivatives of that.
These they would have a much different incentive than what the government has.
The FDA lied to everybody and they're still cranking out another vaccine, what they're calling a vaccine.
That's another lie.
And there is no recourse.
Nobody gets fired.
Nobody cares.
We're just going to ignore it.
And that's it.
But a private organization, you're going to go out of business.
You don't get taxpayer money.
You're out of business.
You lie to everybody and you're out.
Nobody's going to trust you again.
The government, they just keep taking taxpayer money.
So you're not going to stop that.
And they'll just keep lying and you're not going to do anything about it.
The only thing you can do is stop believing them.
You know, it's the best you can do.
Stop believing them.
Don't listen to them, which most people are doing.
They don't go get these jabs anymore.
And that's a good thing.
But yeah, reputation should be done by people who can lose their reputation by lying.
You know, the people are definitely waking up.
But, you know, those vaccines that caused so much harm, they're still around.
People can still receive these vaccines before they can get a single dose of the new stuff.
Moderna and Pfizer vaccines are available for individuals who are at least six months old.
Oh, boy, that's good.
I'm glad they're thinking about the kids again.
And then the CDC is recommending vaccination for all people age six months and older.
So something magic happens at six months, you know, that people are going into the doctor's office.
You didn't inoculate your kids.
I think we're going to have to send a child protective agency out there to check and just see how well you're taking care of your kids.
And that is the trouble.
That's part of the scheme behind here is to make sure that parents are in charge of all that they do.
Look at what they're doing in our schools and the teaching and all the social engineering.
It's just terrible.
Prior Restraint and Free Markets00:11:51
But that's what they're planning for and they're involved.
And yet, so far, I haven't seen that they have been enlightened, at least the people who run the FDA, because their job depends on scaring people.
But fortunately, a lot of people have awakened and they're aware of this.
And doctors that suffered so much with reputation at all over the over the last several years are now seen as people who knew what was going on.
And I think there's more and more Americans starting to realize there's a difference.
But the federal government has a powerful bully pulpit.
And especially when they, can you believe this, Chris?
They work with the social media to pass out their propaganda.
And no wonder people go along with this.
But still, in spite of it all, you can't stop truth from bursting out when it's important.
Very good, Dr. Paul.
I'll go on to our second story.
And that is that US Steel is about to be acquired by Japan's Nippon Steel.
I think that's how you say it.
And the owners, the shareholders of US Steel have approved of this.
98% of the votes were to be acquired.
But of course, here come the goofy politicians saying, no, no, we have a problem with this, a foreign company.
You know, we want this to remain American.
And, you know, on the one hand, on the surface, I could understand something like that.
But when it comes to economics, the point of the government is to punish force and fraud, not who's in the buildings.
You know, it's not like Japan is going to import their military into U.S. Steel and they're going to take us over.
Okay, that's not what is going to happen.
They will do it more efficiently.
And they're saying that we're going to keep Americans as the employees.
But the politicians like to stick their nose where they don't belong.
They're not the owners, the politicians of the corporation.
The shareholders said 98% of them that they want this.
But the politicians do this to us all the time.
They want to overrule the people in the local situation.
They do it with parents.
Nobody knows their kids better than the parents.
Yet the politicians, they call them our kids.
They're not necessarily yours.
They came from you, but they're our kids.
And they do this all the time.
And they try to use force to do what the parents would not do.
What the government should do is protect us against force.
Like if Nippon Steel tries to force somebody to use their product, the government should intervene and prohibit something like that.
Or fraud.
If the steel is fraudulent, if they tell you it's one thing and does one thing and it does the opposite and they lied, like the vaccines or fraud, that's where the government should come in and punish.
And the rest should be us making voluntary decisions.
This is what I want.
This is what I don't want.
I can say no to Walmart.
I can say no to Nippon Steel.
I have that power to say no.
The government should only interfere if force or fraud are involved.
And we are very far, sadly, from such a state of affairs.
You know, I think what's going on here represents the fact that people don't believe in free trade.
And we've heard that from both political parties.
It's worse now than it was 30, 40 years ago because they didn't believe in the use of tariffs, protective tariffs.
And yet there's been more and more of that.
But there's so much corporatism going on.
They're always trying to protect it.
But unions also have a voice in this too.
So the unions, even though when this sale was moving along, the unions objected to it.
And that got a lot of attention.
So that's why you have this bipartisanship, because you can't have an individual who wants to be the labor president.
He might lose some votes.
So this is one thing that they're doing is trying to make sure that the people will, you know, and the activity say, yeah, economic, this is part of the economic planning and part of free trade.
Why do the Nippon have the money?
Well, there's dollars over there.
In a free market, the people who hold dollars are supposed to spend them.
If there's too many dollars overseas, there's supposed to be a lot to bring in here, which, you know, the company that would have bought it, they weren't going to, you know, pack up everything that exists at U.S. steel and haul it off.
They were going to keep it right there and put in billions of dollars of upgrades.
The whole thing is why this article written by the Wall Street Journal, which is not exactly a libertarian magazine, are saying, you know, these are dumb ideas.
They were going to keep it here and build it up and increase the amount of steel they were going to make.
That's how stupid, you know, economic planning is.
And they turn it into a political stunt.
And if you don't go along with it, there's a lot of things, especially when they deal with China.
There's a lot of things going on about the patriotism.
Well, if you do anything to trade with China, you're not patriotic, even if it costs the consumer billions of dollars and you bankrupt companies and all this nonsense and even stir up trouble with the possibility of having military confrontation with countries like China.
So it makes no sense whatsoever.
And I think that the company that wanted to take it over, you know, and they canceled it would have been, would have made things much, much worse.
And it is going to get worse if this deal doesn't go through.
But my prediction is there'll be a lot of noise up until Christmas, and maybe sanity will sink in.
But it makes it makes no sense to say that, okay, we bought all the stuff you sent to us, China and Japan, every place else, and you saved your money.
What they're doing is they're more capitalistic than we are.
So they're just spending their money and they're bringing back some.
It helps the balance of trade and everything else.
So anything natural seems to be resentful of people who are destined to be economic planners and believe that people, business people and politicians, you know, they don't know what you're doing.
So they have to have the authoritarians overtake the political system and run the show.
Not only, you know, run the kids from grade school up, but also everything that we do economically speaking.
And that to me is the big problem.
Excellent, Dr. Paul.
I'll finish up with my last point.
We need to remove the power of the state from the corporations.
And there's only one way to do that.
One.
There's one road, and that is free markets.
And those two words put together scare people in our day.
They didn't scare people before, but they scare people in our day.
They will think, oh, my goodness, free markets.
That means corporations, they'll be able to do whatever they want.
I feel safer with the USDA and the FDA and the CDC.
I feel safer, even though I'm not.
I feel it because I've been told that this is right.
But it's, you know, it's the opposite.
And that's why we're suffering and we're going to keep suffering until the power of the state can no longer be wielded by corporations.
And the number one opponent of the idea of free markets is the corporations.
They love this.
They have the power now.
You know, they get subsidies.
They get our tax.
We go to work.
We pay taxes and it goes right to them.
They create laws to crush little guys.
Have you noticed that in every single industry, every single industry, everything is being consolidated and centralized around these big corporations, and the little guys just get crushed with laws, with licensing.
You need a license to do everything.
Well, who do you think is behind that?
It's to keep you out.
You go and you labor for the big corporations.
That's the only choice that's going to be available to you.
And the corporations had a chance several times.
You know, Ron Paul ran for president.
He's for free markets.
Do you know how many of the big corporations supported him?
Zero.
They do not want free markets.
They do not want you to want free markets because that will diminish and destroy their power to wield the state against all of us.
So that's the way we have to go.
How do we get there?
I don't know, but speaking at least the truth is a good start.
Very good.
You know, we talk a lot about regulations, why they do it, how they justify it, and why they're going to do good, and it's their responsibility, and people can't take care of themselves and think that the number one job or excuse or propaganda is to make people safe.
It is pretty hard to argue against safety.
It's hard to argue about people say, well, you're unpatriotic, but you have to argue it.
You have to explain it.
We have to be able to defend our position.
But the big problem with all of this nonsense that's going on is they've taken a principle that a lot of people used to know about, but they've even given off a basic principle.
And that is prior restraint.
There's most people over the years, and still there's a few left, that said that if you have a newspaper, a magazine, you never had to turn it into the government and have the government approve what you're publishing.
But think of the internet now.
The complexity of the internet, if you don't do it, you're canceled.
So it's epidemic on this prior restraint.
And who are they?
You know, it's social media people that delight in it and they make a lot of money doing it by scaring people.
And now, but what's happened is this prior restraint has expanded.
It originally was dealt with with ideas and newspapers and radio and TV and this sort of thing.
But now, now this whole idea has shifted over to include goods and services.
And that is, no matter what you do and make or say or everything, everything has to be approved by the government.
And the people have gone along with this.
You know, all the goods and services get reviewed by the government.
And there's people who assume that people aren't capable.
They argue.
I had other congressmen tell you, the people are too dumb.
We can't let them make their own decision.
So we put the dumb people in Congress and make worse decisions for everybody.
But this prior restraint is on political events.
We see it every single day now.
You can do this, you can do that, and you can say this, you can't say that.
And the political activities.
And also, you know, they're getting involved in the religious activities too that's popping up all the time.
Because if you use a cover by saying, well, this is a religious belief, that doesn't mean that we aren't vulnerable to somebody saying we need some prior restraint on you.
We need to make sure you don't mislead the people by telling them the truth.
And that's what we want.
Safeguarding Freedom00:01:24
We want a free society where you can make things and individuals can make their decisions.
And if they mess up, they suffer the consequences and they can't crawl by and get their congressmen to go to the neighbor and steal what they want.
That's what has to happen.
And the whole principle of prior restraint, not only if you have a newspaper, which is ancient history now, is the prior restraint, the concept that a bunch of bureaucrats who are looking to make money and satisfy special interests, we cannot allow that to happen.
A free society means people get to do what they want with their lives and they can benefit from what they do and the merits that they might have and make good use of it.
But if they have problems, you cannot blame somebody else.
Because if you decide the government is going to prevent us from having problems, like I said, our problems get much worse.
And because a mistake made by the government is just think of the mistakes that were made under COVID compared to if a few people made a mistake.
There would still be mistakes without the federal government.
But we don't need the FDA and all these agencies of government to tell us what to do.
What we need is more liberty.
Thank you, everybody, for tuning in to the Liberty Report.