American Consequences - September 2020


They’re not going to change the course of our country’s future. And as I’m sure you’re very well aware and as all your listeners are, there isn’t a choice for us. Could you imagine if there was a major party out there who said, “Look, we’re going to cut taxes to no more than 10%, and then we’re going to decide what we can afford to spend after that.” That would be so revolutionary that it’ll never happen, at least not without a complete collapse. Ron Paul: And some people narrow it down, “Well, we need more good members in Congress.” But actually, the government’s on autopilot. If they’re not in session or anything, they spend the money. There are executive orders. Howmuch money was spent during the collapse of the housing bubble? A lot by the Federal Reserve, into the trillions of dollars, so it’s totally out of control. But I did have one question. You have so many different advisories and different letters. Do you deal with this or is there somebody in your organization that talks a lot about overseas investment and actually going overseas? And that’s been something that has been with the libertarians for a long time. I never get too excited. I guess I sort of enjoyed where I lived and I had a large family, so it wasn’t attractive to me, but a lot of people think about that. Do you deal with that subject at all? Porter Stansberry: Yeah, we do. We have a fantastic researcher, Kim Iskyan, who lives overseas. And prior to his time with

volatility than buy it at this point because I think it’s too expensive. Ron Paul: I have frequently said over the years that this desire for more bipartisanship won’t make much difference. I argue that we have way too much bipartisanship and I assume that you might lean in that direction because they’re the same. They fight like cats and dogs over the power, but we wouldn’t expect one side to be more likely to bring about sound monetary policy. Which side is going to really cut spending? Which side is really going to shrink the size of government? Which side will likely bring the troops home? It seems to me like philosophically there’s a lot of bipartisanship, and unfortunately I think we as libertarians would like to challenge that and give them another option. Porter Stansberry: Yeah. I contend that the best metaphor for the relationship between Republicans and Democrats is to look at the infighting that goes on in academic circles, right? Never has so much blood been spilt over something of so little consequence as when you get into an academic department and you’ve got people warning like they’re fighting a religious battle over some minor theory or question of history. And of course it’s not going to make a whit of difference in the real world whatsoever. And I feel the same way when we look at whether we’re talking about Trump’s tax plan or Biden’s tax plan. The numbers are not inconsequential, but they’re also not material.


September 2020

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