Showing posts with label Federal Reserves. Show all posts
Showing posts with label Federal Reserves. Show all posts

Sunday, September 15, 2013

Breaking news! It looks like Larry Summers is out as possible Fed Chair.

This opens up the slot for the Democrat's favorite choice Janet Yellen, who most agree is far more qualified.

Here is the one sentence explanation for why Yellen is the best choice for the job:

Not that Yellen can predict the twists and turns of the economy with perfect clarity — nobody can — but rather she has consistently shown a deep early understanding of the underlying pressures building in the economy and the scale of their potential consequences. 

I don't really have a dog in this fight but I have paid pretty close attention to what those in the know have to say, and it seems that Janet Yellen has a set of qualities which might serve her very well in the job.

For a list of those click this Washington Post article, which also goes on to explain why some in the Obama administration might be wary of choosing her.

Monday, November 08, 2010

When has a complete lack of comprehension about a given topic EVER kept Sarah Palin from providing her opinion?

From Huffington Post:

In an unusual detour, Sarah Palin waded into monetary policy Monday, lashing out at Federal Reserve Chairman Ben Bernanke and urging him to "cease and desist" his attempt to jumpstart the economic recovery by committing to buy up to $900 billion in U.S. government debt.

In prepared remarks to be delivered to a trade association in Phoenix, the former Alaska governor and vice presidential candidate said she is "deeply concerned" with the Fed's plan, announced last week, arguing that the nation's central bank would be "printing [money] out of thin air" and that it is "far from certain" to "even work." The argument was unusual in that monetary policy is supposed to be immune to political pressure.

You know what is even more unusual?  The fact that ANYBODY would give Sarah Palin a platform to discuss a topic that she is completely unqualified to provide an opinion on. 

Palin, whose monetary policy credentials could not be deduced Monday, addressed one side of the issue in what is likely to be an appeal to the Tea Party movement, which is deeply suspicious of the central bank.

Oh, now I get it.  Somebody told Palin that the Teabaggers don't trust the Fed and so she feels compelled to weigh in on the subject in an attempt to garner more of their support for 2012.

You know to be honest I am not exactly sure that the statements attributed to Palin (You don't think she actually wrote them do you?) are completely wrong here.  What the right thing to do to stimulate the American economy is a very complicated question, and there are arguments both for and against what Bernanke is planning to do.

The reason I point out that Palin should not be the one offering her opinion on this matter, is because she does not have the intellect to really grasp the complexities that are facing those whose job it is to fix the economy that the Republicans broke.

And the facts are that THIS opinion has been spoon fed to Palin for her to broadcast to the Teabaggers in order to agitate their emotions and continue to turn them against the current administration.  I doubt very seriously that Sister Sarah has ANY idea exactly what the words in the speech she is about to give even mean, and I would love it if she opened the floor to a Q&A after she finished giving it.

But of course we all know that she won't.  In fact she can't.  If she did, it would quickly become crystal clear that she had no earthly idea what in the hell she was talking about.

This is what the people supporting Sarah Palin's potential run for the White House in 2012 need from her.  They need somebody who is attractive, who connects with the average ignorant American, and who will put a pretty face on their anti-government propaganda.  Essentially it is the same old pile of mooseshit wrapped in a new and relatively attractive wrapper.

There ARE those who could offer a negative opinion concerning the approach that Bernanke is using to stimulate the economy who I would readily listen to, and perhaps even respect.  But Sarah Palin is CERTAINLY not one of those people.  And until she can show her credentials, or provide a resume laying out her years of experience  in this area, I would suggest that nobody else give her the benefit of the doubt either.