Ron Paul tells Manchester crowd inflation will hit 50 percent

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Texas congressman Ron Paul on Friday predicted that inflation will hit 50 percent in the next couple of years, thanks to the massive debt the country has accumulated.

Paul, who spoke to admirers and Republican activists at a Manchester house party, said the inflation will act like default.

Social Security checks will still be cut and interest payments will still be made, but the inflated dollars will allow the government to repay borrowed dollars with devalued money, Paul said.

50% inflation rate?! That would be absolutely insane. I hope Ron Paul is dead-wrong on this analysis of our economic future because that would not only crush our entire economy but all of us would suffer greatly at such inflation rates.

While we must acknowledge 50% is not hyper-inflation it is nevertheless very high inflation that would be unsustainable over any prolonged period of time. The consumer price index would skyrocket and default would practically be inevitable because no one would want to hold US Dollars that were losing their value at an exponential rate.

i thought manchester UK...never, impossible...

but manchester US...yea probably lol

anyway this ron paul dude is just preying on your fears...same old lame old!

He's running for office so he is saying things like this to try and get people scared enough to vote.

Of course the situation is bad but he's spouting fear based rhetoric that requires no proof to try and drum up support so everything this guy and the other candidates say must be taken with a grain of salt.

reply to post by Misoir


I feel that 50% inflation would be the trigger event that would send this country right back into deep recession, if not depression. How many families right now can afford a 50% increase in their monthly bills? 50% is no small increase. I like Ron, but I hope that this is one thing he is wrong about.

50%? He'll get quoted on that statement the rest of the campaign trail.

I like the guy.... but statements like that will get you creamed from the Left media machine.

Even if the dollar tanks...at some point..gas is only worth so much..

I don't see gas going to $7.50 a gallon... To try to move anything will shut down this Country.

Oh...trains will be more cost effective then trucks..Hmmmm..Warren Buffet just invested in trains.
articles.moneycentral.msn.com...

HELP! I know nothing.

Originally posted by niceguybob
50%? He'll get quoted on that statement the rest of the campaign trail.

I like the guy.... but statements like that will get you creamed from the Left media machine.

Even if the dollar tanks...at some point..gas is only worth so much..

I don't see gas going to $7.50 a gallon... To try to move anything will shut down this Country.

Oh...trains will be more cost effective then trucks..Hmmmm..Warren Buffet just invested in trains.
articles.moneycentral.msn.com...

HELP!

I know nothing.

Yea this is one of the reasons he wouldn't be a very good president. He's not a good critical thinker and spouts out stuff before analyzing the information and making decisions based on the evidence. I have no idea how he came up with 50% inflation but it probably was the first number that felt shocking enough for him to get a response out of the audience.

I don't see 50% coming in the near future, but I think 20% could be a reality. The dollar is currently backed by fairy dust, and since there is currently a shortage of fairy dust, inflation will occur at a higher rate soon.

/TOA

I love how American's always say " They'll never allow that to happen....It will shut down the econcomy!" Shutting down the ecomomy is exactly what they are doing (NAFTA,GATT,Carbon Taxes), so this Empire can breathe it's dying breath and The New World Order will rise to power. After QE2 runs dry...we'll see....soon.

Ron Paul is the Holy water to the New World Order!

Ron Paul 2012! "Ignore the cointel-pro and don't feed the trolls"

Originally posted by The Old American
I don't see 50% coming in the near future, but I think 20% could be a reality. The dollar is currently backed by fairy dust, and since there is currently a shortage of fairy dust, inflation will occur at a higher rate soon.

/TOA

the dollar is backed by a very large military machine. not fairy dust.

More fear mongering.
Either he is trying to scare people or really doesnt know what he talking about. He'll be wrong again.
Just add this prediction to the hundreds of other wrong ones he has made.