welcome to the era of simply shut up. one on one was wrong paul outspoken advocate for limited government and personal liberty was one hind is warning of a potential stock market crash worse than the one that led to the great depression we'll find out on this edition of all of. the politicking on larry king ron paul is the former republican u.s. congress with from texas he made three bids for the white house twice as a republican and in nineteen eighty eight is the libertarian party's presidential nominee he's the founder of the wrong goal is to sue for peace and prosperity and

he's the host of the wrong hole liberty report he recently warned of a stock market meltdown which he claims will be worse than the class of one thousand nine hundred twenty nine let's find out what's behind that warning wrong joins us from lake jackson texas what do you base. well base the warning on the fact that there's been a gross distortion in the marketplace due to our monetary policy so if one understands how the monetary system affects the stock market you can more or less bought you know the bubbles in the distortions we can't spot exactly when they crash where we're all probably in the early stages of it really coming down but the big problem is is that the that central economic planning through the federal reserve doesn't work because it's designed mostly to protect big banks and big corporations and finance the military industrial complex in a welfare state and instead he goes into different play. it causes economic bubbles

the longer the bubble lasts and the lower the interest rates are and this is what we've had we've had zero rates and we've had all these q.e. s. so that is the inflation the inflation is when you hear prices are going up the inflation is when the fed creates money out of thier out of thin air and distorts the market and drives that market and drives all this dead accumulation and then you can spot this and believe me it it is too big and it's a it's the biggest probably in the history of the world could you guys it's been going on for ten years interest rates are essentially zero percent so the bubble is huge and it's bigger than anything the world has ever faced before but the federal reserve just raise the interest rate a quarter point isn't that going to hope. not not really i think it's a pretty irrelevant which is what we have to compare it to is what would he economy be like if you had wage and price controls on everything it doesn't work very well

we've tried that and not many economists as you know advocate that and if you do that you have a socialist economy and that's why socialism always fails there's no pricing structure but when you price money that is that one half of the entire economy and that is just as detrimental to the economy as if you had wage and price controls on everything so a quarter point doesn't mean what you need is you know the market rate the market rate may be three four five six seven people ask me well if you were there what would you make it while i don't know what to make it but i would let the market decide it instead of the pretense you know high it talked about the pretense of knowledge that we know things that we can't possibly know and if you get overly rigid and you start regulating too much then you have very distorted economies and you have more poverty and the extreme socialist economy isn't the.

total prices control people end up very poor we see this in zimbabwe and venezuela and that is too much control i'm a strong believer in you know the marketplace and the market is smarter than a bunch of bureaucrats who only serve the special interest that's the big problem we give all this power to a few people and lo and behold guess who got all the bailouts in the last go around on the big corporations and the big banks so it just invites problems what what would have to prevent your forecasts how good we prevent your dire forecasts. no you can't prevent it because the correction and the collapse and getting rid of the bubbles has been built into the system it's been going on for ten years so it's there you know you can't stop it you can change it you know u.k. and what government does is they might try to modify it by just printing a lot more money and running up more debt which we did in. zero nine and that

tended to tide us over but it made a bigger and bigger bubble each time you have to make it much much bigger because we don't liquidate the debt and all the mistakes made by this false information of fake interest rates in one thousand twenty one we had a very very bad depression lasted one year because back then they hadn't inherited our form these ideas that governments have to do something people don't like to have recessions and politically nobody wants it and now because of the huge bubble we have everybody dependent on this politically it will never be solved gracefully you could do it you could balance the budget and cut the spending and cut back on the on the printing of money but that's not going to happen so they'll continue to do it and today's a pretty good example of what they're what they're trying to do everybody anticipates what the fed's going to do or they moved a quarter point what is it going to do well one minute to market go up two hundred

points and next minute was on three hundred point because there's there's no sound it's no measurement and this is to be expected but the final conclusion of this will come in a sort of a panic fashion and that could come next week or next month or next year but it will come and unfortunately the question you have is a good one because we would like to avoid a calamity but since politically it's unacceptable because this would affect everybody would infect the military industrial complex our military and everything else but then you say see we can't let that happen but if you continue it's going to happen anyway so we ought to know exactly what caused this that week. and make a correction run a number of years ago you called for the federal reserve chairman alan greenspan to disaster you were a little kinder in twenty sixteen when greenspan indicated it would be good to go back on the gold standard this week greenspan said in visit should prepare for the worst and runs the cover griese then you are now on the same page where you

may get at. i say chairman greenspan is off again on again because back in the one nine hundred sixty s. i was a close follower of greenspan because he was very solid gold standard he was a libertarian work wear him down but then when he got into government he changed his ways so he had his has it up and down but he he's always better when he's not involved in government before he got in he was very good and now he's much sounder and says favorable things about about gold and yet to get ahead in this world you had to be an intervention he had to be an economic plan or you had to listen to the planners in the central economic plan as the bankers and all who need this money so make sure the money went to the big guys so yes we're closer to on the same page but not not exactly but he is he wrote some fantastic things about the philosophy that i follow on monetary policy that would keep the government over extending

itself and running up these debt you don't have a deficit and debt problem when you're on the gold stand because you can't print golden at restrains the government from making mistakes and given the money and building a bubble that benefits the special interest so right now we're little bit closer than we were once before was the impact of the u.s. chinese trade tension on the economy. i think i think it's had a lot of impact on radio if you look about when this trade war talk started you know pop rocks from a year ago that the stock market has gone down i think tariffs a horrible most economists excepted to happen now even with our economy doing well so many economists have gone over to trial say oh yeah they're cheating us and they're doing all these things so we have to have protectionism but the best way that i make my argument against the terror of these people like the other day there

was a report out well treasury just picked up teen billions of dollars because we collected tariffs but tariffs comes from us we pay the tariff so if that of advertise and say ok we want to correct these problems because we want to tax the american consumer every time they get a good deal from china they can pay fifteen or twenty percent more in our treasury make any sense that it wouldn't pass if you said it was a tax on ourselves but that's what a tariff is and i think it's very detrimental oh it was a large contributor to making the depression worse in produce depression so if we keep doing the same thing over again and over and over again and then also adding tariffs once more we're going in the wrong direction we might be patching this bubble up a little bit but it's just prolonging the agony because the longer it waits the more difficult and painful the correctional being last week the u.s. senate voted to end the american military support. you. said he's

pulling the troops syria what do you make of that situation. well you know i think it sounds pretty good the senate voted on today but the house wasn't a lot of vote on it the republican house leadership at the last minute manipulated a rule that said that the house cannot bring that subject up of quitting that war in yemen so there was a bipartisan agreement on a procedural matter which is pretty amazing that the democrats came over to help the republicans pass this thing they said we're not going to debate stop in the war in yemen so but the senate vote was very very good it's a good indicator that the people are moving in the right direction we should be in that war and it's. just walk away now in syria that's very interesting because i mentioned that on my program today and talked about it because i keep my fingers crossed but hope this is you know this remains because he

says i'm bringing all the troops home out of syria that's what my position has been that's what i'm going to do the neo conservatives are going to go nuts because they want this war to continue right now he says he's coming home and bringing our troops home but we don't know what he'll do with sanctions and pump a zero threat and then they said well if you don't do exactly what we want to do we won't give you any foreign hate that kind of thing you know coming home should be coming home and get out of there out of the business of trying to control other people whether it's through bombs and military or whether through economic thing i've argued in my campaigns that we have two foreign policies we offer the world we go to a country and we say you know if you do exactly what we tell you we're going to send you a lot of foreign aid and we do a lot of that we buy their buy influence in our country but if you don't do what we tell you we're going to bomb you series a pretty good example that we were in error fighting and killing at saud had to go with bipartisan obama plus trump everybody was doing this to to get involved but

why don't they at a point they look for a third option why don't we just be friends with people in mind our own business and see if they want to have a. you know trade agreements and and work and work with people but now it's either bombs and killing or our sanctions but anyway i had high praise for the move i hope it means something i hope we continue to move in that direction but there will be a lot of a lot of special interests that will object strenuously to this madness and pompei i have already expressed their distain for leaving syria wrong stay right there we'll have a bit more politicking with you right after the break. there

are some russian headlines. you know world's big partisan newton's laws and conspiracy it's time to wake up to dig deeper to hit the stories that made stream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bats and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks.

teraflops russian deadlines. china much bigger economic power much war one term. i think. you have to live with it. and there's lots of advantages that the europeans jethro as well as america.

to back to politics. to the public and us congressman from texas made white house bids three times he's the host of the wrong call liberty report a federal judge in texas rhonda's ruled the affordable care act obamacare unconstitutional this will put a lot of people in trouble if there's something court upholds it what do you think . well there's a lot of people in trouble now we've had a bipartisan support for government intervention in medicine for a long time and it's a mass in obamacare from a libertarian viewpoint has made it much worse there's a lot of people who can't make the payments they have to pay for medical care that they don't get and it's extremely expensive so why in a free society that we pretend that we have freedom that we say you cannot buy your own medical care you are not

a lot of have your responsibility for taking care of yourself and we will you know fine you are tax you so that everything is divided up equally well it's very socialistic when that happens so it is well from our viewpoint it's obviously unconstitutional because it's a mandate but it sort of fits the pattern of most of what we do in this country there weren't many things that followed a strict constitutional approach or libertarian approach in washington there's there's too much intervention or your doctor. how could you do you think we should assure that americans have some right to medical care shouldn't everybody be able to get medical care logically isn't that logical. when you have a you have a right to seek any service and you want as long as you get it voluntarily but people don't have a right because they need something to put a gun at their head they need a house but they're not a lot of put

a gun up to somebody to say i want i want to move in with you you can't use force. to do that so no you don't have a right you have a right to your life you have a right to your liberty in a right to pursue happiness is which is to use that liberty to take care of yourself just think if everybody if everybody took care of themselves you know the world would be a much better place overall what do you think of the presidency. it's it's it's very hard to say i say one thing because if he were a true consistent libertarian i say everything's great it's wonderful or if he was a true socialist authoritarian then i could say one thing but he's all over the place all i can say about it it's a mixed bag and i can't figure i'm out and all i can do on my program is if he does has a policy where it looks like it makes sense if it's doing what he said he was going to do he gets high praise but if he comes in with weight you know price controls

and and taro said he's supposed to be a fiscal conservative and he said well i don't like all this military spending did d.o.d.'s seven hundred seventy billion dollars i want to have say only seven hundred and i say well that is good this is very good he's doing what he's supposed to the next day says oh no i guess we better not do that we need military it better put it back up and out of seven hundred seventy so i can't figure i'm out all i can do is he's off again on again and in some time he's just great but i don't think he's worried about falling a consistent pattern it's a consistent pattern of what we call interventionism when you're an interventionist you can intervene here or there or not over here and you can intervene for conservative causes or liberal causes libertarians don't intervene of in the protection of liberty so it makes it a little bit easier for us we just stay out of the business of regulating economy stay out of the business of telling how people should live and stay out of the business of telling other countries how they should run our country's run ols love

talking with you thanks for your time today. thank you larry nice to be with you again the political panel joins me now david brown democratic strategist he served as majority counsel to democratic sen the patty murray on two congressional committees he's in san francisco and in new york lynn trial attorney and legal analyst gentlemen on tuesday the new york times reported that facebook is allowing companies like apple amazon netflix and others to access information on these uses which the majority were not aware of. david does this conflict with privacy policies food people. larry i think any any story that implicates big tech when it comes to data privacy consumer rights isn't great news for the industry in particular because with the democrats taking over the house i think we

should absolutely expect to see increased scrutiny from from the house. and on the industry and really looking to implement some kind of consumer data bill of rights you've already seen inklings of that congresswoman susan del bene introduced a bill this congress or last and congressman qana is been task as i understand has been tasked by leader pelosi to look at that sort of bill for the new congress and so what i think you're going to see as a result of these types of stories there's an increased scrutiny and really a growing awareness and recognition from regulators that the status quo is no longer tenable i think it's also instructed to see how the g.d.p. is played out in europe it with a really aggressive regime of consumer protections as it relates to personal data and privacy and so there may be lessons learned that the congress will seek to apply in the united states as well do you have a problem with the government getting involved in the issues like this with regard to the facebook issues you know i mean i think the government should always be

involved or at least the f.t.c. when there's such a large amount of private information being exchanged when the consumer is not really aware of it and i believe there's already an f.t.c. consent order that's in place is being violated that's the greater concern is that look we can expect a great amount of privacy when we go into this kind of social networking but when there's a consent order in place we're going to rely on that we should be able to rely on and when we can't i think we need intervention for ok do you think there's a bias a less is are you bred again on these platforms against consumables. i don't know if i can say there's a bias or not i think that it's such a widespread issue that everybody's going to be affected by it you agree david. you know i think you're probably referring to critics' criticism from conservatives as to whether or not algorithms on google's platform or twitter you know are discriminated discriminatory towards conservatives look i you know i think the

c.e.o. of google did a pretty effective job in his recent testimony before the house when he walked through how the search algorithms work and the reality is you know that they are they are tuned to and responsive to search terms that human beings are importing onto the platform so no i don't think there's a broad conspiracy here that favors liberals over conservatives but i do think that that's another proof point larry as to why we should expect increased political scrutiny regulatory scrutiny from from members next congress you both attorneys bread was you really done with the with the investigation stands you know it's an interesting question because we're still waiting to see what happens with the flynn sentencing and i think that's going to be significant because it's one more piece of this sort of domino that they're putting together but so far they've been into a very long time and i mean seen anything come out to show that there's actually been any kind of collusion with russia specifically with the trump and trump election or even the transition so it's hard to say i'm still waiting for something

more to come from it if the you see any grounds for impeachment. i think we're way that's way too soon to begin having that conversation larry simply because mohler has not concluded his investigation as brad noted but i also agree with brad that the flynn sentencing it will be interesting to see where that goes and also it's instructive in looking at at the filings in that sentencing proceeding proceeding more were filed along with the sentencing memo and appendix detailed general flynn's cooperation with the government much of that document was heavily redacted and what was interesting he indicated moeller indicated that flynn's been cooperating in several aspects of miller's investigation the one that was under redacted is the investigation into potential underlying criminality relating to collusion and collusion with russia but also there was reference to a to a separate criminal proceeding that was just heavily redacted so i think it's way

too soon to assume that we know the end of the story or to conclude the rollers investigation has been fruitless i do expect that he will publish a comprehensive report and then my hope is and i think this is absolutely critical that that report be made available to the american people and that that process unfold in a transparent manner so the american people have an opportunity to judge for themselves what muller has found read the white house going to the flynn was ambushed during his original interview and entrap by investigators do you agree. part of me agrees i mean they had him on tape they knew his statements were there so there was no need to question him about it if they thought his actions or or the actions he admitted to on the recordings were unlawful they should have charged him then but the reality is he was well aware of his constitutional rights he was well aware of the policies and procedures he voluntarily gave the statements and elected that way to waive those rights so we can now complain that he was ambushed even

though he might have been it's just too late for that argument dave the federal judges rule the affordable care act a federal judge in texas unconstitutional who's going to go to the supreme court is that they're going to hold him or strike him down i expected that his ruling will be struck down i mean look this is been already this question of constitutionality has been has been dealt with by the same supreme court famously with chief justice roberts casting the deciding vote but no i don't expect that case will be successful i think it's unfortunate that the judge ruled in the way that he did in part because it casts further confusion and chaos into the ability of the affordable care act to operate in the way that it's intended to ensure that people have access to affordable health care and that folks with preexisting conditions have access to care and you know if anything i mean this is just sort of the final stake in the ground for four six plus seven plus eight plus years of republicans trying to really dismantle the affordable care act without any kind of viable

substitute in place red what do you expect this of ring good to do you know it's impossible to predict and that's what i love about the supreme court that regardless of who appointed them regardless of what their party affiliation is they have no bias no affiliation and you never know which way they're going to go and hopefully and usually they do what's right for the country but do you think brad that roberts would change his mind. i don't know i try not to predict on things like this so i'm going to wait and see. ok. bipartisan vote the senate voted in favor of sweet cream of the criminal justice reforms you say that is doing that. yeah look larry this is a this is a huge achievement it's long overdue and republicans and democrats reserve deserve praise excuse me praise for coming together in a bipartisan way to get this over the finish line when i served in the senate as an aide in two thousand and thirteen we were talking about criminal justice reform

then you know we're now five years later we finally got it done folks like leaders like senator durbin senator booker as well as republicans everyone deserves praise for really for really getting this over the finish line and i also applaud the president and the white house for coming on strong support for this for this bill breadwinner you think i agreed not just for the reasons that david said but you know at the time these reforms were first put into place when we had the war on drugs and warm crime they really serve the purpose and we really needed to get this off the street but now we have all these people we have to figure out what to do with it with them and this reform is going to help us do that and i think it's a perfect timing for. david brown bread mcclung thank you both for your time today thanks a lot and thank you audience for joining me on this edition of politicking remember you can join the conversation on my facebook page or tweet me at kings things and don't forget use the politicking hash tag that's all for this edition of fall of

taking. care of russian headlines. you know world big partisan a lot and conspiracy it's time to wake up to dig deeper to hit the stories that made stream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the past and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now

for watching closely watching the hawks. and. their of russian headlights.

secret projects by u.s. democrats to test on one top takes. is revealed in a new york times report claims they use the methods of an old and much maligned. another hit for the trump administration defense secretary james mattis announces he's stepping down just a day after the u.s. president surprises our allies by saying it's the flooring troops from syria. and the top journalists from one of germany's most respected publications to speak. for faking news for years he's been stripped of several awards for his investigations including c.n.n. journalist of the year twenty forty.