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Thursday, September 29, 2011

Rick Perry Threatens Bernanke Again

     Say this for the GOP they may not like Operation Twist but they do have their own solution: Operation Tank the Economy. Just to remove any doubt, Rick Perry is at it again threatening Fed Chairman Ben Bernanke declaring that if elected Bernanke will be out at the Fed and there will be no more “money printing.”

    Nice. Turns out this is nothing new, the Republicans have a long history of such attacks on monetary and fiscal policy that might work, in fact  there is a long Republican history of economic obstruction. The party of no has been saying no for a long time. Even in the midst of the Depression the Republican boobirds were out trying to thwart FDR’s recovery.

    “There is one strong similarity to late 1933; the conservative outrage over the gold-buying program forced FDR to stop it long before he reached his objective of reflating the price level to pre-Depression levels.  Now there are signs that conservative outrage over QE2 may be making it harder for Bernanke to achieve his inflation objectives, which are to return the inflation rate to pre-recession levels.  Plus la change”
    Question, what is the difference between the Republicans and Hitler? Hitler created jobs. The Republican policy is brilliant in a bizzaro world where the point is to lose jobs and damage the economy.

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