A housewife from Alaska is heeding the New Jersey economist’s advice.
“All this pump priming will come at a serious price,” Sarah Palin explained in Phoenix last week. “And I mean that literally: Everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so. Pump priming would push them even higher.” Palin refers to the decision by the Federal Reserve to print $600 billion (money does, in fact, grow on trees for central bankers) and inject it into the economy primarily through the purchase of Treasury securities.
After their stimulus attempt put fiscal policy out of balance through trillion-dollar-plus deficits, the Obama administration’s unwelcome encore seeks an economic quick fix from a monetary policy stimulus. Like the drunken-sailor spending spree, the mad-hatter print-your-way-to-prosperity plan is likely to unleash negative, unintended consequences without a thriving economy to show for it. Specifically, flooding the market with dollars will devalue the money in your pocket, raise taxes without the approval of Congress through bracket creep, and reinforce a culture that encourages profligacy and discourages savings.
Inflation is a euphemism for dishonest currency. If your butcher manipulated weights and your bartender manipulated measures the way governments manipulate currency, the government would put them in jail. Read more at Human Events>>
11 comments:
#1 palin is a dummy. prices haven't risen in the "last year or so".
#2 Obama does not control the fed
#3 Perhaps dollar devaluation will increase our exports which equals more jobs. Not an economist but just throwing out an idea.
Just about anyone (and this certainly INCLUDES the administration's econonmic guru's) who knows anything about econonmics KNOWS we are (quickly) running out of "tricks", like the "stimulus package" and "TARP", and "bond sales", to jump start our economy. Inflation is coming to a neighborhood near you soon. Prices are going to increase by large percentages on every consumer product. Taxes? They can't help but increase because that is going to be the surest source of revenue, along with fees, fines, and levies, from Federal to local levels. We have went from the greatest economic power the world has EVER seen to a pauper, begging nation who owes everyone on the planet. How pathetic. And sad. And the American people? We are in for some serious pain.
10:11 You are an imbecile.
#1 Where exactly do you live that prices have not risen markedly over the last 18 months?
#2It appears you speak of things you know NOTHING about: Regarding the Federal Reserve-"its authority is derived from the U.S. Congress and is subject to congressional oversight. Additionally, the members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by Congress. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees."
#3 Atleast you got something right when you stated you weren't an economist!
Is it true that all the Fed members are jewish? Is it true they are also secret owners? If so how would we know if they are jewish or not?
I called this two years ago, what we really had is two competing ideas of restoring our economy, one says move towards sound monetary policy, with competing forms of currency leading us back to a currency backed by hard assets, the other says devalue and hope you can keep inflation in check, of course the Loser and Cheat and the party bosses chose the latter. How's that working out for you smart "elites"?
dumbass redneck - 1
progressive douchebags - 0
Pragmatic, no wonder you idiots fall for everything Palin and all the other loonies spoon feed you. It takes two seconds to find the data tables as well as media stories that have the exact information you attempt to portray as nonexistent. But I know, it's alot easier to spout whatever comes to your mind without regard for the facts knowing that most people won't go back and check your facts.
#2 Maintaining Bernanke, a man first elected under a Rep. president and congress, is quite far from dictating the day to day decisions of the Fed. The entire purpose is to keep politics from contaminating the Fed board's decisions.
I'm no cheerleader of the Fed's decisions or for Pres. Obama's administration, but when you criticise, atleast be accurate.
Look at the cartoon!!!!!!! We got we America wanted CHANGE?
12:26
Whatever you are spouting makes no sense. Unless you live under a rock, you cannot go anywhere and make a purchase without noting how much prices have jumped over the last 18 months. No MSM or "data tables" needed. Its called common sense, and paying attention. Check those facts, pal.
#2 - A simple illustration that the administration still has a heavy influence in the Fed. Never stated that Obama was "dictating the day to day decisions of the Fed". You act as though he and his administration, have no influence at all. That is an incorrect statement.
Salisbury's doing this. Look how much the fire house is worth only to be sold for less than a quarter of it's worth.
Hey, you two! Out of the sandbox. If you can't play nice together don't play at all. Now go to your rooms.
Pragmatic, this is why you guys swear you are always right. No need to debate the facts when you can just state opinion or perception as the gold standard of truth. LOL. Lets not allow the data to get in our way.
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