Ron Paul vs. the Fed

In another instance of an elected official taking on the bailout proposal, Rep. Ron Paul -- whom I have long been a fan of -- proceeded, this afternoon, to embarrass Federal Reserve Chairman Ben Bernanke by basically giving him an Economics 101 lesson on prices and the consequences of government action in financial markets. It's truly a sad thought that the chief "economist" at the Federal Reserve needs to be reprimanded and taught basic economics, but it should not be surprising, as the Fed's repeated entanglements and misjudgements over the past near-century have gotten this country into several economic debacles.

Video of this can be found here. I highly recommend watching it.

I defy you to name another elected official, besides Dr. Paul, who cites the Austrian school of economics in his speeches. Congressmen must be absolutely clueless when he cites economic thought and quotes from some of the greatest intellectual giants of the 20th century. It's no wonder Dr. Paul came nowhere near the Republican Presidential nomination. He actually has substance behind his positions and remains wholeheartedly consistent throughout the changing of political tides; the true "anti-politician," if you will.

Additionally, I believe Dr. Paul is mostly correct when he posits that maybe only 15% of Americans actually care about the Constitution; and he is certainly correct that that percentage is even lower inside the Beltway.