Economists Say Perry is Right About Fed Chairman

A moving target who keeps ’em guessing: Perry moves on to a meeting with business leaders in Dubuque, Iowa Tuesday

[youtube]http://www.youtube.com/watch?v=pZ6BCWjX04A[/youtube]

Update via Real Clear Politics:  President Obama told Rick Perry to “watch his mouth,” today.  The Pretender-in-Chief made other very condescending comments, too.

GOP presidential candidate Rick Perry has immediately shaken the Obama administration’s coffee cart…with a highly critical comment of Federal Reserve Chairman Ben Bernanke and the drunk-dialing Democrat budget deficit. The left is now trying to obfuscate Perry’s comments as a physical threat which is ridiculous…and of course, misses the point. Here is what Perry said…and following, is the reaction to it. Perry should keep this up. I have more commentary below, following the story.

“If this guy prints more money between now and the election,” Perry said, “I don’t know what y’all would do to him in Iowa, but we — we would treat him pretty ugly down in Texas. Printing more money to play politics at this particular time in American history is almost treacherous — or treasonous in my opinion.”

The Iowa crowd applauds, and chuckles.  Clearly, the comment was taken in the course of a campaign speech.

Cue the leftist, liberal pantie-wetters!   [ you know, the ones who want kindergarten kids to explore their “gender confusion” and  boys to feel free to wear pink]

 Beltway Confidential:

“Liberals and others on Twitter suggest that Perry’s comments were a threat to Bernanke, warning him not to travel to Texas for fear of bodily harm.

Nouriel Roubini, a NYU professor tweeted: “The mind of Rick Perry (his sick words on Bernanke) is not much different from that of the Norway mass murderer. Loaded words cause violence.”

Cue the condescending lecture from the economic geniuses at the White House!

National Journal:

“When you’re running for president you have to think about what you’re saying, because your words have greater impact,” [White House spokesman Jay]  Carney told reporters traveling with the president in Iowa. “We take the independence of the Federal Reserve quite seriously.”

Meanwhile, back in “Real-ville” USA:

Respected economist Jim Pethokoukis at Reuters notes that GOP candidate Mitt Romney has refused to criticize the Fed,  and Perry is right:

“Perry is correct. A strong argument can be made that the Fed’s bond buying caused inflation to flare, squeezing consumers and slowing the economy. (Interestingly, the president of the Dallas Fed is also against more QE3 bond buying.) “

International Business Times also gives Perry thumbs up:

“….what he and other conservatives are alleging is that Bernanke’s money printing is a betrayal of the U.S. middle class.

Their main argument is that loose monetary policy, especially the money-printing program of quantitative easing, is an invisible tax on U.S. workers.

Loose monetary policy stokes inflation. Over the last few decades, monetary policy has been loose under Bernanke and Alan Greenspan before him. Inflation, predictably, was high.

Because of the high inflation, $100 in 1960 is worth only $13.11 in 2011, according to the U.S. government’s CPI calculations. Critics, moreover, argue that the CPI inadequately captures the inflation in health care and education, which means the 1960 $100 is probably worth less than $13.11.

The devaluation of U.S. middle class purchasing power, without a comparable increase in wages, represents what the conservatives call the invisible inflation tax.

The inflation tax is less pronounced in the ultra-rich because their assets and income are tied to capital and investments, which keep pace with inflation.

National debt zooms up

While the president continues his “Rolling Blunder” bus tour, and his attack-Pomeranians defend his Keynesian back-slippage, the national debt went up $28 billion in one night, bringing the total national debt to a mind-numbing:

$14,615,567,348,203.71.

Is that Bernanke’s money-printing mill warming up?

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