We’d like to say a few words about two topics: economics and politics. (Unfortunately, the two are intertwined.) As our clients are well aware, we believe strongly in having a sound intellectual foundation to help us filter information and base our investment decisions, thus the choice of “bearing” as our company name. Our compass is Austrian economics which essentially sees government intervention as the greatest threat to your wealth. In contrast, nearly every politician who ever walked the earth is an interventionist and a promoter of Santa Claus economics. Not surprisingly, in this country the size and intrusiveness of government has inexorably grown under both Democrats and Republicans.
During this presidential election, we find ourselves on unfamiliar ground: willing to endorse a candidate wholeheartedly. Ron Paul is a long-time student of Austrian economics. How do we know? He has written several books on the subject. He speaks at conferences (we’ve listened to him several times). He mentioned Austrian economics as his inspiration behind getting into politics while Jay Leno’s guest on The Tonight Show.
Ron Paul understands the two greatest threats to your wealth (and liberty): the Fed and war. He is the only candidate who has consistently opposed both on principled grounds. His message is resonating on college campuses, of all places. “Here’s a man who served his country in the Air Force, delivered thousands of babies, has been married to the same woman for 50 years, has never taken a congressional junket, has never voted to raise taxes, has never voted for an unbalanced budget, refused to take a congressional pension, voted against the Iraq War, and returns some of the money given to him to run his office in Washington back to the Treasury every year,” to quote a good friend and local history professor. Yet the mainstream media takes every opportunity to smear him or ignore him – the ultimate endorsement.
Ron Paul is 72 years old. This is a rare opportunity that may not come along for quite some time. Heaven help us if we squander it.