Tuesday, August 16, 2011
Tuesday, August 16, 2011 2 comments
In a bid to become President of the Asylum, once the inmates takeover, candidate Rick Perry answered a question from the audience in Cedar Rapids Iowa Monday night about Federal Reserve Policy. He suggested that if the Fed Chairman prints anymore money before the election, that would amount to treason. “if this guy prints more money between now and the election, 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 Bush Crime Family who originally appointed the current Fed chairman reacted harshly to Perry’s comments with Karl Rove going on at length about it to any reporter that would listen. Maybe Perry isn’t up on current events and thinks Alan Greenspan is still Chairman, you could make a case against him but the Bernanke has played his role pretty straight. The current Fed Chairman favors big money interests in all ways, but hasn’t tried to destroy the economy the way Greenspan did. Tuesday Perry refused to take back the remark but a spokesman put it off to the governor being “passionate and energized by the State Fair”. I know the State Fair always makes me want to get “pretty ugly” on Fed Chairman. It must be the deep fried butter on a stick that does it.
So far the Fed has managed to keep us from falling into deflationary spiral that always accompanies a major Depression. Fears of inflation appear to be unfounded as the price spike in commodities is wearing off. Now that the Fed has been successful in accumulating about a trillion in Treasurys it can easily calm any excessive inflation. All the Fed has to do is resell as many bonds as needed to soak up any excess money in the system. It’s a crude way to run an economy but it could keep the Depression at bay for some time.
Apparently the Republicans really fear that this could work so that’s endorsement enough for me. All that is required is for Obama to keep Congress from doing anything destructive and there lies the rub. Obama has only been able to do this so far by giving Republicans most of what they want. However the things Republicans want always favor the rich and people are starting to notice the pattern.
The Oracle of Omaha, Warren Buffet came out today with another appeal to tax the rich. Republicans immediately painted him as a socialist or simply uninformed about economics and tax policy. Lets see we are supposed to elect Romney because he’s a businessman even though his experience is limited to tearing apart companies and selling them to China. Bush and Cheney were both MBAs and so were really supposed to know how to govern. Of course they both had crashed every company that either of them had ever ran and did the same for the country. We should elect Perry because he’s put Texas in the ditch. But we shouldn’t listen to the most successful capitalist ever because he thinks people making over a million dollars a year should pay more than 15% income tax?
I don’t know if Rick Perry has a defined policy on taxes (his policy statement says simply he will cut them) but his views almost certainly run along the same lines as the other Republican candidates who want zero corporate taxes and zero capital gains tax which would mean no taxes at all on guys like Warren Buffet. Warren Buffet says he would like to “share the sacrifice“ and that inequality is getting too extreme between the rich and the rest of the country. This doubtless has him on Rick Perry’s traitors list. www.prairie2.com