[volkin]

Dr. Roberts is misrepresenting Dr. Paul's position. I'd say he misunderstands but George Mason's economics program is heavily influenced by the Austrian school so I'd be very surprised if he doesn't understand it. Dr. Paul thinks that the heavy credit expansion in the early part of this decade, coupled with the Government's expensive foreign policy will lead to either a recession or stagflation in the coming years. I haven't heard him say that we are in one currently. Unfortunately it is hard to make an argument about the economy in a 30 second sound bite so I'd be surprised if many people hadn't reached the same conclusion regarding Dr. Paul's views that Dr. Roberts is likely pretending to have reached.