“We shouldn’t be playing around with inflation. It’s not for nothing Reagan called it “as violent as a mugger, as frightening as an armed robber, and as deadly as a hit man.” The Fed’s pump priming addiction has got our small businesses running scared, and our allies worried. The German finance minister called the Fed’s proposals “clueless.” When Germany, a country that knows a thing or two about the dangers of inflation, warns us to think again, maybe it’s time for Chairman Bernanke to cease and desist. We don’t want temporary, artificial economic growth bought at the expense of permanently higher inflation which will erode the value of our incomes and our savings. We want a stable dollar combined with real economic reform. It’s the only way we can get our economy back on the right track.”-Sarah Palin
Matt Phillips of the WSJ’s Marketbeat blog is having none of it, pointing out the 3 major premises of her speech are factually incorrect [See link below]
...over at Real Time Economics, another WSJ blog, Sudeep Reddy ...points out that Palin’s criticism of inflation is wrong — its been quite low this year at an average annual rate of 0.6%.
But why does it take a blog (or two) to call out the bullshit in her speech? Why doesn’t the Journal point out how “this is factually incorrect, this is wrong, and this is nonsense.?”
Therein lies the Future of media, in one delightful microcosm: The MSM tosses out thin gruel, while a blog — their own blog ! — debunks it a as empty headed nonsense.