Former Alaska Gov. Sarah Palin fired a shot at the Federal Reserve in her coming-out speech in Hong Kong today, blaming the central bank for the current crisis and disagreeing with the idea that the Fed should have a greater role in preventing the next crisis. It was an echo of fellow Republican and Texas congressman Ron Paul, who has led the charge in Congress to perform an audit of the Federal Reserve with an eye to eventually eliminating it.
Sarah Palin addresses Asian investors.“How can we discuss reform without addressing the government policies at the root of the problems? The root of the collapse? And how can we think that setting up the Fed as the monitor of systemic risk in the financial sector will result in meaningful reform?” she said. “The words ‘fox’ and ‘henhouse’ come to mind. The Fed’s decisions helped create the bubble. Look at the root cause of most asset bubbles, and you’ll see the Fed somewhere in the background.”
Maybe Palin isn’t a nutjob? Nah, never mind I said that.
Palin in ’12?
Didn’t she quit her last elected position midway thru her term?
I can’t believe any party would want her for a candidate for that reason alone.
“What’s the difference between a pit bull and a hockey mom? Pit bulls don’t quit.” etc etc.
The ads write themselves.
Palin doesn’t stand a chance in a Republican primary race…especially the debates. The real politicians will chew her up and spit her out.
Alfred, go back and watch a couple of those debates from 2008…she’ll end up as befuddled as Fred Thompson. Face it, she can read a well-written speech, but she can’t write one and she can’t speak coherently without a script. The web is full of examples since the election.
Her presidential campaign slogan: Palin, Two years before I get bored.
While everyone is caught up in such important discussions as to what Palin can and can’t see from her window, and others are expressing their abandonment issues, all of these intelligent and observant folk continue to ignore the effects of the the strongest group of people currently in power. Some people blame the democrats and others blame the republicans. Many examples to bolster their case against each group or individual are provided, but it’s the lawyers that control every branch of government.
There are so many issues that no matter what the President or Congress or whomever presents to the public, what matters is what the lawyers argue in closed sessions and in courts, and what legal precedents are set that determine everything.
EVERYTHING
I’ve taken part in TEA (taxed enough already) rallies. The main point is expressing disgust at a political system where unelected folks have more influence and control than the ones we elect to represent us. I’m upset with the progressives hijacking the process. Too many advis-czars, union leaders and lobbyists spoil the broth. Bad enough the judicial system got into overturning voted laws and amendments, or worse creating laws by fiat.
The reason TEA folks are not protesting the G20 is because that has little to do with explicit US policy, same as the UN. It’s the gradual erosion and sidestepping of constitutional authority that sets our kettles a-boiling.
#64 cheapdaddy, you put the conservative movement into a precise definition. If Bush failed at everything else, his Presidency can be considered a success for two reasons: Alito and Roberts. The Know-Your-Czars thing drives me crazy. If Obama is surrounding himself with loonies like Van Jones, Cass Sunstein, and the safe schools czar; what does that say about Obama?
#58 Palin quit because Democrats sabatoged any chance she could govern effectively and were abusing the process to destroy her financially.
It was strategically correct for her to quit, and fight back, as she could not do as Governor.
Establishment Media reveals whom they fear…by their universal smear…Only Palin among possible 2012 candidates receives their full propaganda effort…therefore its Palin alone they believe has the appeal to win in 2012.
Anyone looking to reverse the bailouts and socialism, need look no further than Palin…and the Establishment Media knows that…she will undo everything the 2007 Congress and Obama did that wrecked our economy, prevented the recovery, and debased our dollar.
The Fed will end and a true revival of our economy, returning to laws that made us the world’s richest country, will once more govern our politicians and businessmen.
We need to return to being a nation of laws, rather than theft and corruption of Democrats.
@Alfred
When Palin was announced as the VP candidate last year, I was excited with the prospect of a non-victimhood female who lives her beliefs running for office.
But then Palin blew it and here is how …
She was totally not prepared for the Katie Couric interview and EVEN though Katie Couric was out to get her, that is standard issue politics and Palin was uncategorically unprepared AND unable to articulate her beliefs.
And Palin regurgitates *wrong* Republican soundbite ideas that appeal to the base but have no basis.
This means she does not understand the world that she is living in.
Case in point, we are not in this economic mess because of the Fed. A good economy does not need much credit because it can pay back the loans due to the strength of production.
The reason credit is shot in this country is the realization that we DO NOT have net cash-flow, we do not have domestic production or manufacturing (not even lightbulbs are made here), we have a huge trade deficit and spend like wild hogs.
The credit crash is because our economy is high risk from a lending perspective.
And Palin is repeating a “red meat for the lowest common denominator” simpleton way of thinking that just transmits clearly she doesn’t have native understanding of the recession.
#67 Blame the Fed for the meltdown:
http://www.ft.com/cms/s/0/e6dd31f0-a133-11de-a88d-00144feabdc0.html?nclick_check=1
Economist warns of double-dip recession
By Robert Cookson and Sundeep Tucker in Hong Kong
Published: September 14 2009 15:01 | Last updated: September 14 2009 15:01
…“Are we going into a W[-shaped recession]? Almost certainly. Are we going into an L? I would not be in the slightest bit surprised,” he said, referring to the risks of a so-called double-dip recession or a protracted stagnation like Japan suffered in the 1990s.
“The only thing that would really surprise me is a rapid and sustainable recovery from the position we’re in.”
The comments from Mr White, who ran the economic department at the central banks’ bank from 1995 to 2008, carry weight because he was one of the few senior figures to predict the financial crisis in the years before it struck.
Mr White repeatedly warned of dangerous imbalances in the global financial system as far back as 2003 and – breaking a great taboo in central banking circles at the time – he dared to challenge Alan Greenspan, then chairman of the Federal Reserve, over his policy of persistent cheap money.
AND blame Congress for allowing that, and for not enforcing the regulations on the books, just as they did with Maddoff.
Your list of causes were contributors…not the major cause of the collapse.
Palin is right, you are wrong.
While I agree there was a confluence of causes for the meltdown, to exonerate the fed is odd…one of few big name economists to see the collapse years before it happened, tried to stop Greenspan from his too easy money policy, predicting bubbles would collapse in housing etc.
Fact remains, had Congress enforced the regulations on the books—no meltdown.
http://ft.com/cms/s/0/e6dd31f0-a133-11de-a88d-00144feabdc0.html?nclick_check=1
Most of our politicians are lawyers, there is an elementary reason for that…lawyers learn debate, and the tactics necessary to win…
Fundamental to that, is being a critical thinker…able to turn a premise on an opponent…
Obama is a case study in the art of deception, very adept at equivocation fallacy. But he is often absurd…like when he told Stephanopolis the very act of using a dictionary definition of a word…was “reaching” and therefore invalidated his argument about taxes.
That was so absurd, its amazing he used it…but the establishment media, as usual, said nothing.
Palin is not an attorney…her base LIKES that…but it does leave her somewhat defenseless against fallacious argumentation and gotcha questions by the media…whereas an attorney knows how to deflect questions…either by raising other questions, or equivocation of the premise.
70 AlfredETerroist,
“Most of our politicians are lawyers, there is an elementary reason for that…lawyers learn debate, and the tactics necessary to win…”
Really? You don’t think that the ability to understand law and it’s nuance, which is what Congress, Senate and Presidents deal with almost exclusively?
You believe the sole reason is to be disingenious with words? Figures…
1,000 to 1 she hasn’t a clew as to what “..systemic risk…” means.
72, Dave,
Surprising, no one commented that she demanded a closed door meeting. If the press was invited she would have changed the speech.
“CLSA, an arm of French bank Credit Agricole, said it closed Palin’s session to the media after she indicated that she would have to adjust her speech if reporters were present.”
“Palin, as an outside,……. , will win by a landslide…”
Want to make a big bet on that Alphie? I’d bet you $25,000 she will not win anything.
2012 slogan –
Failin’ Palin’s Trailin’. Oops, now she’s Bailin’.
Her deep and thoughtful understanding of Supreme Court rulings will do her well though. And all the magazines she reads and stuff.
Is this quitter still around? I predict she’ll run for president and then quit half way through the primaries claiming she can accomplish more by not running…
#71 Not the sole reason…
Something you never considered…
People become lawyers to get rich by taking other people’s money.
So why did these same people, after realizing there is a lot of competition in that pursuit, become politicians?
Why is there so much waste and fraud in Government?
Why didn’t the regulators regulate and stop the meltdown, or Maddoff?
The answer to all three questions is the same…
Greed.
re 76 IN other words…if you want real change…do not elect lawyers…being a lawyer is a disqualification…then you have a better chance of not electing greedy thieves.
Palin is not an attorney.
Alfred, I think some day you will take that one last step and become a sentient being. You are almost there and show signs of original thought, yet you are not there yet.
You can quote some article, yet the title of “economist” helps those writers little if they are wrong.
Monetary policy is all fine and good … but if the underlying economy is in shambles all the fiddling with lending and the money supply matters very little.
The USA has *negative* cashflow.
We borrow more than we spend; we export more than we import. It has drained the coffers dry.
The housing bubble HELPED disguise the weakness of the economy by artificially increasing the spending activity and consumerism.
We are living in an age when we must finally pay the price for NAFTA, the price for outsourcing, the price for buying cheap goods at Walmart and cheap electronics overseas.
The world looks at us and we have nothing to sell them.
China and other countries have bought our debt for years. How can the economy be healthy if it depends on debt?
http://cnbc.com/id/33004753
When we are running an economy with net cashflow (a profit), the jobs will return.
This will not happen soon.
All the playing around with monetary policy in the world cannot fix the fact we do not produce.
Funny thing is you claim to be a Republican and seem to not realize the basics of economics.
I just want to say I love my facebook fans and want your comments on my new profile picture!
Waddaya think? Gorgeous, huh?
Also, i got paid alotta money for my speeking engagements with some really important people.
Look for some new fall lipstick colors.
wink, kisses
SP
# 79 Hi Sarah, Love the pictures! But hey, any chance you could get together with Michelle Bachmann and do some kind of adult video?