Another reason the Fed has put forward for its new QE reluctance, sotte voce, is politics. The mainstream consensus previously backing QE has collapsed. Republican presidential candidate, Rick Perry, declared that "further money printing" would be "treasonable" – a capital offence.
[..]
Modern capitalism, at its core, relies on the public's trust of fiat money and the sanctity of contract. QE, a form of state-sponsored theft, makes a mockery of both those cardinal concepts.
Sunday, August 28, 2011
Subscribe to:
Post Comments (Atom)
Posts
6 comments:
...of course Tecs agrees with Romney and Obama that Perry is being divisive over this theft.
Did Romney criticize Perry over his QE comments? I sort of doubt it.
As a matter of fact, this is what he said:
"Another round of quantitative easing is not the solution for the economy, and could mean inflation down the road," Romney told Fox News on Monday. "It's not the right thing to do."
OK, less flowery than Perry (and Mitt said it after Perry said what he said), but still, not what Herr Rot said.
The Tab is growing faster than a Krugmanesque QE let loose.
Steyn mocks the Dept. of State when it characterized massacres as "destabilizing" or "unhelpful."
Tecs, on the other hand, just loves that kind of weak tea speak.
Domestic politics and electoral campaign speeches do not equal State Department pronouncements on Iran, NK, Libya, or Syria. Also, disagreements over monetary policy do not equal massacres or genocide. And again, [0,1] =/= {0,1}.
Two-man race? A debate.
Post a Comment