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.
@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.
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…
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?
No!!!! She just played into the Fed’s hands and undermined all of Ron Paul’s hard work. Nobody will take HR1207 seriously now!
“Why not just go for Ron Paul. He actually has a real working brain, and is prepared to use it.”
I would soooo love to. If ever I see his name on my ballot he gets my vote. Of course some would say I’m throwing my vote away, that voting for a third-party candidate only strengthens the dem candidate. I so tire of that mantra.
Ron Paul is also anti-war, anti military industrial complex and wants christian nut cases poking around in our bedrooms. Generally the jesus freak contingent in the GOP doesn’t like Ron Paul much for this.
…is that a straitjacket she’s wearing?
Why the HELL is Palin speaking in behalf of the US anyway?! She’s not a former elected official of any note. Alaska’s governor, for half a term, doesn’t really cut it. Who’s putting her on this world tour? The Republican party? They REALLY must not want to win, again, in 2012. If they’re keeping her career alive.
As for Ron Paul. I’d vote for him for Prez. But I don’t want to see him assassinated, should he choose to make a difference. And not see him made ineffectual, by taking him out of a more productive position, that he’s in now. Presidents only do what they’re told they can do. And what they’re told they can say.
A feminine Reagan.. Good looking broad with big tits as the republican controller’s spokesperson. Well show those democrat liberal bastards with their black guys out front. Half the country is female and the other half want a president they could crawl in the sack with.
#84 Nick Aqua said “…is that a straitjacket she’s wearing?”
Nope, it’s a nursing smock.