By Adam Dick
It may seem as if nothing can restrain the United States government’s intervention overseas. But, Ron Paul says economic conditions will impose a limit and that that means the days of expansive US military intervention are numbered.
The former presidential candidate and US House of Representatives member drew applause at a Ludwig von Mises Institute event in Phoenix, Arizona on November 7 when he predicted that US troops will come home because the government is “flat-out broke.”
Paul argues in the speech that “we’re living at a time where the system is going to come unglued,” with America in the middle of a “complete collapse” that began in 2007-08. While Paul observes that the “prevailing attitude” is that the US government can just continue to print and spend money without restraint, he concludes that this Keynesian approach will fail. That failure, predicts Paul, will be accompanied by a major change in foreign policy:
We’re seeing the total failure and the coming ungluing of the Keynesian model, as well as our foreign policy. Our foreign policy is doomed to fail. We will come home. Let me tell you, we will come home. But, it won’t be because we all of the sudden, you know, have a few more people giving talks about bringing the troops home. We’re going to come home because we’re flat-out broke.
Watch Paul’s complete speech here: