Sarah Palin warns Zimbabwe Ben to 'cease and desist' all money printing...
The Primper vs. The Printer. I'm not saying she's wrong. I'm just saying someone had to teach her how to spell Bernanke, and there's no doubt that quantitative easing was refudiated and not allowed on the test.
Palin Warns Bernanke: 'Cease And Desist' Purchase Of Treasuries
NEW YORK -- 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.
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.
"The Fed hopes doing this may buy us a little temporary economic growth by supplying banks with extra cash which they could then lend out to businesses," she will say, according to remarks leaked to The National Review, a conservative publication. "But it's far from certain this will even work."
Palin adds that, if it doesn't work, the Fed runs the risk of printing so much money that "no one will want to buy our debt anymore."
The risk of inflation is too large, Palin will argue. She notes that prices have already "risen significantly" as "everyone who ever goes out shopping for groceries knows." She adds that the price of oil is also rising, according to her prepared remarks, which she links to the Fed's asset purchases and "decision to dump more dollars onto the market."
Palin then will argue that "the worse part" of this is that the White House "refuses to open up our offshore and onshore oil reserves for exploration." It's unclear how drilling for oil relates to monetary policy.
Referencing calls from foreign leaders who oppose the Fed's plan, Palin will call on Bernanke to "cease and desist." The former mayor of Wasilla, Alaska, doesn't appear to mention the fact that foreign leaders are concerned because the Fed's plan is likely to lead to a devaluing of the dollar relative to other currencies, which should stimulate exports and cut into imports.
Sarah Palin sports reporter:
She does an excellent job here...
But Sarah Palin on the bailouts...Not so excellent...
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