Former Republican congressman and presidential candidate Ron Paul has warned that rising interest rates and a housing bubble are negative factors for the US economy which will lead to a “big bust.”
Paul, the founder of the Ron Paul Institute for Peace and Prosperity, made the remarks in a recent interview with Hill.TV on Thursday.
“I would say on a general appearance, it’s pretty good – regulations are down, and taxes are down but I give him more credit, which is pseudo-credit in that he’s a great cheerleader and there is such a thing as subjectivity in cheerleading in the economy – people do respond in a positive way,” he said.
“But the economy on the surface is good, but it’s not sound, it’s not lasting, it’s based on debt and the payment will come due soon,” he added.
“I have a feeling we might not make it to the end of the year before you see the markets sending a much stronger signal,” he pointed…