Friday, November 19, 2010
Republican/Teabaggers side with China and Germany against the US.
And Paul Krugman points out that while some may have other reasons, they all share a common goal in their attacks on the Fed's Quantitative Easing.
So what’s really motivating the G.O.P. attack on the Fed? Mr. Bernanke and his colleagues were clearly caught by surprise, but the budget expert Stan Collender predicted it all. Back in August, he warned Mr. Bernanke that “with Republican policy makers seeing economic hardship as the path to election glory,” they would be “opposed to any actions taken by the Federal Reserve that would make the economy better.” In short, their real fear is not that Fed actions will be harmful, it is that they might succeed.Breaths there a single Republican/Teabagger who wants to do something good for our country? It sure as hell looks they don't exist anymore.
Hence the axis of depression. No doubt some of Mr. Bernanke’s critics are motivated by sincere intellectual conviction, but the core reason for the attack on the Fed is self-interest, pure and simple. China and Germany want America to stay uncompetitive; Republicans want the economy to stay weak as long as there’s a Democrat in the White House.
And if Mr. Bernanke gives in to their bullying, they may all get their wish.
Subscribe to Posts [Atom]
Post a Comment