Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Ron Paul - What The Mid-Term U.S. Elections Really Mean For Peace and Liberty

Politics / US Politics Nov 10, 2014 - 10:10 AM GMT

By: Dr_Ron_Paul

Politics

Did the election last week really mean that much? I took to my Twitter account on Tuesday to point out that the change in control of the Senate from Democrat to Republican actually means very little, despite efforts by politicians and the mainstream media to convince us otherwise. Yes, power shifted, I wrote. But the philosophy on Capitol Hill changed very little. The warfare/welfare state is still alive and well in Washington.


Some were critical of my comment that, "Republican control of the Senate equals expanded neo-con wars in Syria and Iraq. Boots on the ground are coming!"

But unfortunately my fears were confirmed even sooner than I thought. Shortly after the vote, President Obama announced that he would double the number of US troops on the ground in Iraq and request another $5.6 billion to fight his war in the Middle East.

The President also said on Wednesday that he would seek a new authorization for the use of force in Iraq and Syria. He said that a new authorization was needed to reflect, "not just our strategy over the next two or three months, but our strategy going forward."

That sounds like boots on the ground in an endless war.

Senate Democrats had been competing with Republicans over who would push a more aggressive foreign policy. This may explain their miserable showing on Tuesday: it is likely the honest, antiwar progressives just stayed home on election night. But with the Republican victory bringing to leadership the most hawkish of the neoconservatives like John McCain, the only fight over the President's request to re-invade Iraq will be Republican demands that he send in even more soldiers and weapons!

Likewise, the incoming Republicans in the Senate have expressed a foolhardy desire to continue resurrecting the Cold War. They demand that Russia be further sanctioned even as the original reason for the sanctions - claims that Russia was behind the downing of Malaysian Airlines flight MH-17 - has been shown to be false. They want to send weapons to the US-backed government in Ukraine even through it will result in more civilians killed in east Ukraine. Their dangerous Russia policy may even turn the new Cold War into a hot war, which would be catastrophic.

On the domestic front, I do not hold out much hope that the next Congress will give more than lip service to reducing spending. What is more likely is Republicans will support dramatic increases in welfare spending as long warfare spending is increased by an equivalent, or greater, amount. That is what is called "compromise" in Washington.

One positive development from Tuesday is the slightly improved chance for a roll-call vote on "Audit the Fed." Most of the Senators who are likely to assume leadership roles next year are co-sponsors of the bill. However, special interests that benefit from Fed secrecy are very influential in both parties, so it will be up to the people to continue to pressure Congress for a Senate vote.

Elsewhere, there may also be some rollbacks and reforms of some of the worst parts of ObamaCare, but a full repeal of the bill is unlikely. This is not just because there are still not the votes to override an inevitable veto. The insurance and pharmaceutical lobbies that benefit from ObamaCare are equally influential in both parties and have very deep pockets.

I ended my comments on election night by pointing out that while it may have been an important election, it was not most important ever. Ideas are what really count. And that is where we are winning!

Dr. Ron Paul
Project Freedom

Congressman Ron Paul of Texas enjoys a national reputation as the premier advocate for liberty in politics today. Dr. Paul is the leading spokesman in Washington for limited constitutional government, low taxes, free markets, and a return to sound monetary policies based on commodity-backed currency. He is known among both his colleagues in Congress and his constituents for his consistent voting record in the House of Representatives: Dr. Paul never votes for legislation unless the proposed measure is expressly authorized by the Constitution. In the words of former Treasury Secretary William Simon, Dr. Paul is the "one exception to the Gang of 535" on Capitol Hill.

Dr. Ron Paul Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in