The Election Campaigns Have Some of The Dumbest Economic Ideas
Summary
TLDRIn this episode of the Liberty Report, hosts discuss the role of government and its impact on people's lives, liberty, and peace. They critique the bipartisan approach to legislation, pointing out 'dumb' economic ideas and the FDA's approval of a COVID-19 vaccine without clinical data. The conversation emphasizes the need for free markets, the dangers of government and corporate overreach, and the importance of individual liberty. They argue against the notion of government protection, advocating instead for a society where individuals can make their own decisions and bear the consequences.
Takeaways
- 😀 The hosts discuss the lack of positive contributions by the government in terms of saving lives, returning liberty, and creating peace.
- 😅 They highlight the absurdity of bipartisan actions, such as passing legislation without proper consideration, exemplified by an article from the Wall Street Journal criticizing a 'dumbest economic idea'.
- 😳 The FDA's decision to authorize a new COVID-19 vaccine without clinical data is criticized, raising concerns about safety and the agency's role in protecting public health.
- 😲 The conversation points out the contradiction in the government's role, where it is meant to protect citizens from corporations but often ends up empowering them.
- 🤔 The hosts argue for the importance of private organizations in providing health information and services, suggesting they would be more reliable and less influenced by state power.
- 😠 There's a critique of the government's tendency to use fear as a tool for control, especially in the context of public health emergencies.
- 😡 The discussion touches on the issue of government overreach, where politicians attempt to block a business deal between US Steel and Japan's Nippon Steel, despite shareholder approval.
- 😤 The hosts express concern over the increasing corporatism and the negative impact of government involvement in economic planning and trade.
- 😓 The conversation emphasizes the need for free markets and the removal of state power from corporations, arguing that this would lead to more competition and less concentration of power.
- 🙄 The script concludes with a call for a free society where individuals can make their own decisions and bear the consequences, advocating for less government control and more personal liberty.
Q & A
What is the main topic of discussion in the Liberty Report?
-The main topic of discussion in the Liberty Report is the critique of government actions, particularly focusing on the perceived absurdities and negative impacts of government policies and regulations on individual liberties, economic decisions, and public health.
What is the stance of the hosts on the role of the government in protecting citizens?
-The hosts argue that the government should protect citizens' liberties, allowing them to take care of themselves, rather than being directly involved in providing care and making decisions for them.
What is the criticism of the FDA's recent actions as discussed in the transcript?
-The criticism is that the FDA has authorized a new COVID-19 vaccine without requiring clinical data, which is seen as a repetition of past mistakes and a disregard for safety and efficacy standards.
How do the hosts feel about the economic policies proposed by bipartisan politicians?
-The hosts express that many of the economic policies proposed by bipartisan politicians are 'dumb ideas' that do not contribute to saving lives, returning liberty, or creating peace.
What is the argument against the involvement of the FDA in vaccine approval?
-The argument is that the FDA's involvement in vaccine approval is unnecessary and potentially harmful, as it may lead to vaccines being approved without proper testing, and that private organizations could provide more reliable and unbiased health information.
What is the hosts' view on the role of corporations in relation to government regulations?
-The hosts believe that corporations should not have the power of the state behind them and that government regulations often give corporations undue power, which is contrary to the principles of a free market.
What is the concern about the acquisition of US Steel by Japan's Nippon Steel as discussed in the transcript?
-The concern is that politicians are interfering in a business decision that has been approved by the shareholders, potentially due to protectionist sentiments and the desire to keep industries 'American,' despite the potential economic benefits of the acquisition.
What is the hosts' opinion on the concept of 'prior restraint' in the context of government regulations?
-The hosts are against the concept of 'prior restraint,' arguing that it should not be applied to goods, services, or speech, and that individuals should be free to make their own decisions without government approval.
How do the hosts suggest the government should intervene in economic activities?
-The hosts suggest that the government should only intervene in cases of force or fraud, and otherwise allow for voluntary economic decisions and free market competition.
What is the hosts' view on the relationship between free markets and corporate power?
-The hosts advocate for free markets as a way to reduce corporate power, arguing that corporations currently wield too much power due to their close relationship with the state and government regulations.
Outlines
😀 Introduction to the Discussion on Government and Liberties
The paragraph introduces the Liberty Report with co-host Chris Rosini. The hosts discuss the lack of positive contributions by the government in terms of saving lives, returning liberties, and creating peace. They express difficulty in finding any good aspects of government actions and decide to focus on the absurdities of bipartisan actions, particularly in the economic sphere. They reference an article from the Wall Street Journal that criticizes a 'dumbest economic idea' and prepare to discuss it, along with other government follies, such as the FDA's authorization of a COVID-19 vaccine without clinical data, which they view as a threat to health and liberty.
🤔 Critique of Government Agencies and Corporate Influence
This paragraph delves into the role of government agencies like the FDA, questioning their true purpose and effectiveness. The hosts argue that these agencies, instead of protecting citizens, often serve to give corporations state power, leading to negative outcomes. They discuss the concept of free markets and the belief that private organizations would be more credible and effective in providing services like health advice. The conversation also touches on the idea that people are waking up to the failures of government agencies and the need to rely on private solutions and personal responsibility.
😡 Opposition to Foreign Takeover of US Steel
The hosts discuss the proposed acquisition of US Steel by Japan's Nippon Steel and the political backlash against it. They critique the politicians' intervention, arguing that the shareholders' decision should be respected. The paragraph highlights the hypocrisy of politicians who claim to protect national interests while often acting against the free market. The discussion also touches on the broader issues of economic planning, tariffs, and the influence of unions on such decisions.
😕 The Impact of Economic Nationalism and Protectionism
This paragraph continues the discussion on economic nationalism and protectionism, criticizing the government's role in economic planning and the use of tariffs. The hosts argue that free trade and market forces should dictate economic activities, not political agendas. They also discuss the negative impact of government intervention on businesses and consumers, suggesting that the government's involvement often leads to worse outcomes than individual decision-making.
📢 The Dangers of Prior Restraint and Government Control
The final paragraph addresses the concept of prior restraint, which traditionally applied to media and speech but has expanded to include goods and services. The hosts express concern over the increasing control of the government over all aspects of life, from economic activities to personal beliefs. They advocate for a society where individuals have the freedom to make their own choices and bear the consequences, rather than having every decision scrutinized and controlled by the state.
Mindmap
Keywords
💡Bipartisan
💡Liberty
💡FDA
💡Economic Idea
💡Inflation
💡Prior Restraint
💡Free Markets
💡Corporatism
💡State Power
💡Social Engineering
Highlights
Discussion on the government's role in saving lives, returning liberty, and creating peace, with a focus on the lack of positive outcomes.
Mention of an article from the Wall Street Journal criticizing a bipartisan economic idea as the 'dumbest'.
Critique of the Federal Reserve's approach to inflation by printing more money.
Concerns about the FDA authorizing a COVID-19 vaccine without clinical data, raising questions about safety and efficacy.
Argument that government agencies like the FDA should protect citizens from the government, not just from corporations.
Discussion on the need for private organizations to provide health information and the potential for them to be more reliable than government agencies.
Criticism of the government's involvement in health care and the potential for private organizations to provide better services.
Analysis of the political response to US Steel being acquired by Japan's Nippon Steel and the implications for economic planning.
Debate on the role of tariffs and free trade, with a critique of government intervention in economic activities.
Concerns about the concentration of power in large corporations and the impact on small businesses and individual freedoms.
Discussion on the concept of 'prior restraint' and its expansion from media to goods and services, implying excessive government control.
Call for a free society where individuals can make their own decisions and bear the consequences, without government overreach.
Final thoughts on the importance of liberty and the need to reduce the government's role in people's lives.
Transcripts
[Music]
hello everybody and thank you for tuning
in to the Liberty Report with us today
we have Chris rosini our co-host Chris
good to have you with us it's great to
be with you Dr Paul good we're we're
going to talk about the government but
uh 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 so 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 they
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 that makes a point but we can
apply that to More Than This One Thing
The Wall Street Journal said Biden
Harris Trump Vance and the dumbest
economic idea and uh I said well that's
bipartisan you're supposed to do things
bipartisan we want to talk about that
and and explain a little bit about the
dumb idea that's a real contest because
there's so many dumb ideas floating a
while 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 we'll solve our problem
with inflation all that nonsense and uh
yet there there's a one here that they
you discovered that was I think pretty
darn important too it's it's not much
smarter than the one I just mentioned
and uh 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 they're bragging
about this but you know what they're
doing is lining up a couple bucks and uh
they're they're ready to bring bring
that out but no no uh no uh real testing
and uh and I think that uh this
represents a principle that happens is
why do 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 government should could
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 and uh 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 uh this is something
that's going on right now uh I think uh
the this whole idea is just a you know a
falsehood that they can protect us and
to get involved in medicine and You'
think they would have learned something
you know you know from Co the co a c
couple years ago we're still suffering
from it and they're getting ready to do
it again in the same thing without
without really uh testing is it safe and
effective well even if the government
told us if it was uh we couldn't believe
them but no they're not they don't even
go through that anymore they uh they
said we just make sure these assumptions
and uh and tell it's okay and all of a
sudden but guess what from my first
guess uh what's going on Chris uh is
that uh the the 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 uh even
though they have a struggle finding
without there's no new medication enough
justification to uh scare the people
enough for the people to go along and
roll up their sleeves and do what
they're ever what they're told so uh
this is again is over and over again and
uh this FDA their stupidity is in
competition with uh this Coalition of uh
the dumbest economic idea that was ever
proposed Chris that's right Dr Paul and
uh if you ask the average average
American they really do believe that
these federal agencies are there to
protect us from the
corporations and it's I mean it it's the
ultimate trick uh because it's really
the corporations that are doing the
regulating you know they're on these uh
the FDA you know they come from fizer
they come from uh so what what has 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 uh the exact
opposite of the free market but
Americans believe that no you need the
FDA otherwise the corporations they
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 uh 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
NE you know any in any way that they can
get the power of the state behind them
and uh it's 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 uh in their
hands you know one thing they wanted to
do because they anticipated there' be
people like this Crush Rini coming up
with these ideas and telling the truth
so they had to counteract uh from him
getting this truth out but there is an
there is a paragraph in here to try to
answer Chris all your concerns and uh in
in the article it says the United States
uh this is to show that no they didn't
do the testing of safe and effective but
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 huh 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 uh that's uh that that
pleases them but uh they 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 uh PE people will say
well if if if the government doesn't do
it who's going to do it well if nobody
did it it'd be a lot better than when
the government doing it because they
make things worse but the whole thing is
is there would be
private organizations that would be uh
credible because uh you you know they
would do this research and and their
reputation would depend on giving
correct advice and there'd probably be
two or three uh groups like this doing
it and uh for a service like that and
information that you finally found
somebody that you could trust you could
pay on some money to get information
because it would be so much more
valuable with with than the government
telling 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 co 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 uh you know like
consumer reports and and any you know
any uh derivatives of that the these uh
they would have a much different
incentive than what the government has
the FDA lied to everybody and they're
still they're cranking out another
vaccine what they're calling a vaccine
that's another lie uh and there is no
recourse nobody gets fired nobody cares
we're just going to ignore it and and
that's it but a private uh organization
you're you're going to go out of
business you don't get taxpayer
money you're you're out of business you
lie to everybody and you and you're out
nobody's going to trust you again the
government they just keep taking
taxpayer money so you're not gonna
you're not gonna stop that and they'll
just keep lying and you're not gonna 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 um which most
people are doing they don't go get these
jobs anymore
and and that's a good thing but yeah it
reputation should be done by people who
can lose their reputation you know by
lying you know the uh the the the people
are definitely waking up but you know
those uh those uh vaccines that cause so
much harm they're still around uh PE
people can still receive these vaccines
uh before they can get a single dose of
the new stuff Mna and fiser vaccines are
available for individuals who are at
least 6 months old oh boy that's good
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 oh you're 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 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 it's just terrible but that's what
they're 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 people have uh have uh awakened
and they're aware of this and the
doctors that suffered so much uh with
reputation and all over the over the
last several years are now seen as
people who knew what was going on and I
think that there's more and more
Americans starting to realize there's a
difference but there you know it the
federal government has a powerful bully
p pulpit and especially when they can
you believe this Chris they work with
the social media to it's not 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 uh and
that is that uh us
steel uh is about to be acquired by
Japan's nipon steel I think that's how
you say it uh and the owners the
shareholders of us Ste steal have
approved of this 98% of the votes were
to be acquired but of course here come
the goofy politicians saying no no we we
have a problem with this a foreign
company uh you know that we want this to
remain
American
and you know uh I on the one hand on the
surface you could I could understand
something like that but when it comes to
economics the point of the government is
to force and fraud not who's in the
buildings you know it's not like Japan
is going to import their military into
US steel and they're going to take us
over okay that's not what is going to
happen they they will do it more
efficiently uh and they're saying that
we're gonna 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
you know nobody knows their kids better
than the parents yet the
politicians uh you know they call them
our kids you know they're not
necessarily yours yeah they came from
you but they're our kids and and they do
this all the time and they 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 nepon
steel tries to force somebody to use
their product the government should
inter you know intervene and prohibit
something like that or fraud if 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 are 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 nipon Steel I
have that power to say no the government
should only interfere if force or fraud
are 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 uh people don't
believe in free trade and we've heard
that from both political parties and
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
Union also have a voice in this too so
the unions even though when this sale
was moving along the uh the unions uh
you know objected to it and that got a
lot of attention so that's why you have
this bipartisanship because uh you you
you can't have uh a an individual who
wants to be the the labor president uh
you know he might lose some votes so th
this is um uh the one one thing that
they're doing is trying to make sure
sure that uh the the people will uh you
you
know in the activities economic this is
part of the economic planning and part
of free trade why do why do the uh uh
nipon 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 in home they're supposed to be
allowed to bring it here which you know
the company that would have bought they
they weren't going to you know pack up
everything that exists that us 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
is why this article written by The Wall
Street Journal which is not exactly a
Libertarian magazine uh or 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 and uh
they turn it into a political stunt uh
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
cost the consumer billions of dollars
and you bankrupt companies and all this
nonsense and even stir up uh trouble
with the possibility of having military
confrontation with countries like China
so it makes no sense what's soever and
uh I I think uh uh that uh the company
that wanted to take it over uh you know
and they canceled it would have been uh
uh would have made things much much
worse and it is going to get worse if
this the deal doesn't go through but my
prediction is there'll be a lot of noise
up until Christmas and maybe sanity will
s sink in but it makes it makes no sense
to say that okay we bought all the stuff
you sent to us the China in Japan every
place else and you saved your money what
they're doing is they're more
capitalistic than we are so uh they're
just spending their money and they're
bringing back some it 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 over to take 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 uh 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 that those two uh words
put together scare people in in our day
they didn't scare people before but they
scare people in our day they 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 know no
longer be wielded by corporations and
the number one opponent of the of the
idea of free markets is the corporations
they love this they have the power now
you know they can they get subsidies
they get our tax we go to work we pay
taxes and it goes right to them they uh
they create laws to crush little guys
you know 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 you know uh with uh with
with laws with licensing you need a
license to do everything but who do you
think is behind that it's to keep you
out you go and you labor for the big
corporations that's that's the only
choice that's going to be uh 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 uh 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 are talking a lot about
regulations why they do it how they
justify it and why they're going to do
good and it's responsibility and people
can't take care of themselves and think
that the number one job uh or excuse or
propaganda is to make people safe and
it's pretty hard uh to argue against
safety it's hard to argue about people
sayfe well you're unpatriotic but you
have to argue it you have to explain it
we have to be able to defend our our
position but the big problem with all
this nonsense that going on is they've
taken a principle that a lot of people
used to know about but they've even
given on this basic principle and that
is um prior restraint there there's most
people over the years and still there's
a few left that said that if you have a
newspaper or 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
even the complexity of the internet you
if you don't do it you're cancelled so
there's it's epid mic on this prior
restraint and who are they you know it's
uh it's it's social media uh people that
uh you know Delight in it and they make
a lot of money doing it by scaring
people and now but it what was 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 good
and services and that is no matter what
you do or 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 uh the the
this prior restraint is on on Pol
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 uh the political activities and uh
also you know they're getting involved
in religious activities too that uh it's
popping up all the time because if you
use a a cover by saying well this is a
religious belief that that doesn't 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
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 Congressman 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 interest and 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 their the the merits
that they might uh you know have and
making good use of it and they and but
they 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 uh
because the mistake made by the
government is just think of the mistakes
that were made under covid compared to
if uh you know uh a few people made a
mistake there there would still be
mistakes without the federal government
but we don't need the FDA uh and all
these agencies of government to tell us
what to do what we need is more
Liberty thank everybody for tuning in to
the Liberty report please come back soon
[Music]
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