Sarah Palin to Ben Bernanke: "Cease and Desist"

[RamboLiberal]

Source: CBS News

In remarks at a trade-association convention in Phoenix today, former vice presidential candidate Sarah Palin will urge Federal Reserve chairman Ben Bernanke to "cease and desist" buying up government debt, according to the National Review, which obtained a copy of her prepared remarks for the event.

"I'm deeply concerned about the Federal Reserve's plans to buy up anywhere from $600 billion to as much as $1 trillion of government securities," Palin's prepared remarks read. "What's the end game here?... All this pump priming will come at a serious price."

The speech is planned just days before President Obama will appear at the G20 summit in South Korea, which will likely address criticism from representatives of Germany, Brazil, China and South Africa regarding the Federal Reserve's recent decision to pump $600 billion into the U.S. economy.

But in India today, President Obama defended his backing of the decision, and said that the Fed's intent was to foster economic growth on a global scale.



Read more: http://www.cbsnews.com/8301-503544_162-20022072-503544.html?tag=stack

---

Did you even pass Economics 101 in those 4+ colleges you attended? On edit - thought so.

In the past, when she ran for Alaska governor, she freely admitted to a reporter that she got a "D" in macroeconomics in college.

http://blogs.abcnews.com/politicalradar/2008/09/gov-palin-on-wa.html

You and McCain lost - STFU.

There are some days I think the stupid in this country deserve you as president. If only we could do it in some alternate universe the rest of us wouldn't have to live in.

[TwilightGardener]

1. Sarah Palin, she's my go-to gal for monetary policy analysis.

:crazy:

[mnhtnbb]

3. Priceless!

:rofl:

[clixtox]

46. If brains were dynamite...

Palin wouldn't be able to blow her nose!

How preposterous is she? What chutzpah!

Like anyone with a functioning cerebrum is going to take anything she says about economics, or most anything else, seriously?

That Palin's every cement-headed remark is reported by the M$M without derision indicates how useless and mind numbingly irrelevant the M$M has become since consolidation.

[NeoConsSuck]

24. I spilled my soda!

GREAT POST!!

[Bucky]

28. Now that you've finished your little snark, allow me to point out she *does* read ALL the papers

on edit: a chair

[Faith No More]

29. Who in hell does this woman think she is???????

She's a nothing, a nobody, and a quitter and hasn't got the sense of a gnat. Who gives a fat rat's ass what she says or thinks.

[redirish28]

32. My thoughts and my wife's thoughts.

[Heywood J]

61. I second this.

[Yeahyeah]

2. She knows how to quit this depression halfway through.

[Angry Dragon]

4. sarah and bristal are planning on being pole dancers

once Dancing with the Stars ends
They figure they can dance at all the tea party events

[savalez]

5. Bernanke to Palin: "STFU lunatic"

[handmade34]

6. if she truly cared and was aware

she would encourage big money to create jobs and end the game they are playing (at the expense of the American people)

[tanyev]

7. Somebody hired herself a speechwriter.

[cutlassmama]

8. Total whackjob.

[DimplesinMI]

9. In the words of K.O.....

This woman is an idiot!

[blue sky at night]

10. hey sarah....what was that recipe for grilled cheese sandwiches again....

like she any fucking clue what she is talking about....

[Dr.Phool]

11. What trade association? The Amalgamated Salmon Boners?

The could have gotten a better comedian cheaper.

[AlinPA]

12. She is running for president. These remarks are intended to make it look like she is in serious

"dialogue" with financial leaders. It's fake.

[NC_Nurse]

13. Where were you when they did the last few rounds of QE, Sarah? Nobody

Said anything then...

This is the only option since the Repubs won't go along with any actual stimulus that creates jobs...

[Plucketeer]

14. DATELINE, WASHINGTON DC:

It was leaked today that Consumer protection overseer, Elizabeth Warren has called on Sarah Palin for advice and expertise in establishing the fledgling agency!

[jmowreader]

23. And after she gets the advice...

Ms. Warren will figure out what the exact polar opposite of it is, and then do that.

[Marnie]

34. Sarah is an over cosumer

so she should know.

Four houses, two lake front properties, airplane, boat, multiple snowmobiles and ATVs, 14 foot fence (but it blew over)and enough hooker boots and mini skirts to start a family brothel.

...

[BrklynLiberal]

15. Never in a million years would I believe she writes her own stuff..AND I believe

she has no real idea about any of the things she reads from her speeches.

Gawd..and I thought pres shit-for-brains was a puppet with someone's hand up his ass.
The barracuda makes bush look like a braintrust.

[Andy823]

17. I agree.

That's why I have a hard time seeing her run for the republican nominee! I mean how in the world will she be able to debate with the others who are running, unless she wears a wire and someone is telling her what to say! This woman couldn't even name a newspaper that she read, or a book, the rest of the republicans running would make mince meat out of her! If she does run it's only for the money, and if by some miracle there were enough idiots around the country to vote for her, then president Obama is pretty much a shoe in in 20121

Of course I think Rove will take her down long before it's time for the primaries. The is already starting within the party, and to many people with a lot more pull than she has, DON'T want this woman running. She has already gotten a lot of them ticked off with her support of the tea party candidates that "LOST" and stopped republicans from getting control of the senate! It will be fun though to watch it all come down!

[Swede Atlanta]

33. Three words...

George W. Bush

He was and is an imbecile with the intellect of a mosquito but people bought into his rhetoric. I am afraid the Murkan public is just as susceptible to her if you look at how they gravitated toward the Tea Party.

[la la]

45. ...but bush had turdblossom....

and he apparently doesn't think much of biblespicebendystraw....

( the ONLY possibly good thought he's ever had....)

[LaloBorges]

16. Can DU please stop providing SP news?

Who cares what she says? only the Tea Party...

I cannot understand why DU and Huffington Post continue to provide any news on this woman...please stop!!!!

99% of the time I don't read it but my question is, does anyone at DU really care what she says/does? She is irrelevant, keep her that way...unless of course, it is a strategy to make her the GOP candidate for 2012?

[sam sarrha]

18. I personally find it interesting.. just how F'n crazy'r can that pathetic woman get..??!!

[CLANG]

20. Sorry, but you don't get DU to yourself.

[clixtox]

47. We can only wish that Palin is nominated in 2012!

The way Obomba is consistently alienating true Democrats and progressives, having Palin as his major opposition is probably the only way he could possible be re-elected!

Personally I am hoping that Obomba pulls a LBJ and doesn't run for re-election allowing a real Democrat like Alan Grayson to be the nominee.

I can fantasize and dream...

[Brother Buzz]

58. Utilize the igonre thread feature and stay off my Astroturf®

[CLANG]

19. Quitter/Financial Expert?

:rofl: :rofl: :rofl:

[Gman]

21. Enlighten us, Ms Palin, you fucking idiot...

please explain IN DETAIL just why you think this is a bad idea? What impact do you think interest rates will now have on overall investment in business? Why is this a good or bad idea? Can you give specific research you have done that backs up your position, you fucking idiot? Have you written any papers on the subject?

[pokercat999]

22. What is really bad is her statement is spot on about QE2. It

will in the short run jack up commodity prices so high that the poor will not be able to buy food or fuel. QE2 will continue to destroy seniors lifesavings by holding down interest rates. QE2 will allow insolvent banks (the TBTF) to kick the can further down the road so when they do fail, and they will, they will take down the entire economy with them. Bernanke is a traitor to his country and is only interested in propping up the ultra rich.

Did she write this, is it from her mind, her knowledge of the subject?....right. In all probably she doesn't even know what QE2 is let alone that it will destroy the bottom 20% of our population or she WOULD stfu. If she makes this argument against QE2, 3, 4 and maybe 5, she will lose her support of banks and large corporations, she obviously doesn't have a clue OR she is out for the little guy. If she is as stupid as most of us think she could be forgiven. Afterall, who wouldn't want the riches and fame she has accumulated and the more that's on the way.

Where is Mr. Obama on this? Oh yeah, best friends with Summers, Turbo Tax Timmy and Bernanke and friend of the banks, wall street and the big insurance companies.

Unfortunately on this one SP is on our side, Obama.....not so much.

[dgibby]

38. Scary, isn't it? Never thought I'd agree with Palin on anything.

CNN was just reporting today about the coming increases at the gas pump as a result of this. Grocery prices were already rising before this announcement. No telling how high they'll go now.

[SOS]

56. QE2 is Wall Street welfare and will not create a single job

Palin's comments are political gibberish and can be disregarded.
Fully agree with your analysis.

The UK bought billions in gilts in April 2009. The result? unemployment up from 6.8% to 7.7%.
The fortune spent on UK QE went straight to bank profits.

"a significant part of the £199 billion of spending on QE was turned, almost immediately into profit by UK based banks. It is this fact, and nothing else, that restored bank profitability and bank bonuses in 2009."
http://www.taxresearch.org.uk/Blog/2010/11/04/how-banks-got-the-benefit-of-quantitative-easing/

"The short-term winners are the banks. With interest rates so low and the Federal Reserve buying treasuries, banks can borrow money at low rates then buy treasuries knowing that the Federal Reserve will be supporting their prices. In essence, banks are profiting in the spread between treasury prices and low cost of borrowing. It sure is less risky than making loans, which is what the Federal Reserve wants the banks to do."

http://www.thetradingreport.com/2010/11/09/who-benefits-from-quantitative-easing/

QE2 will also drive down the rates for savers and retirees. Imagine a 10 year bond paying 1.5%! It's insanity.
Retired people who invested in banks CDs (0.9%) and 10 year bonds are now wiped out.
July 2010 inflation was at 1.24%.
That means a lifetime of work invested in bonds is now worthless, in terms of yield.

Americans need direct help, not more backdoor Wall Street welfare programs.

On edit: Another aspect is the desire to push desperate investors into the mutual fund casino.
People disgusted with 1% returns will prop up the stock market, out of sheer desperation.
Until another turd appears in the NYSE punchbowl, at which time the little guy will have his retirement shorn by 40% again.

One trillion is enough to send every American household a check for $9,000.
Would the average family elect to receive "quantitative easing" or a check for $9,000?

[harun]

60. I wonder what percentage of the population really knows what that 600

billion dollars is doing? Also, that 600 billion helps some, hurts others. How many people will actually state honestly what sectors of the population this helps and which it hurts.

My if real journalism existed it would be a good conversation to have. Too bad.

[Botany]

25. In Sarah Palin we now have a new John Maynard Keynes .....

..... Monetary supply vs the amount of government issued securities boy that is a complex subject ....
as noted up this thread nobody is more qualified to speak on these subjects than the 1/2 term governor
from Alaska.



BTW i have a bridge in Brooklyn to sell you if you think Palin really wrote on this subject .....
SHE COULD NOT NAME 1 NEWSPAPER THAT SHE READS ..... AND AS GOVERNOR SHE HAD A CLIP
SERVICE THAT PUT NEWSPAPER ARTICLES BY HER PLATE EVERY MORING AS SHE WAS EATING
BREAKFAST

[Old and In the Way]

26. Perhaps she could sit down with the financial media and give a more

in-depth analysis of her thoughts with regards to US fiscal policy. Or, better yet, Ben should make a very hi-profile offer to sit down with Sarah so that they can discuss these issues on a major TV network. I'd watch that...even if it were on Fox.

C'mon Sarah....show us your depth of knowledge with an unscripted, extemporaneous live discussion of US economic policy. It'd be a hoot!

[Old and In the Way]

27. Dupe

nt

[liberal N proud]

30. I am sure Ben is going to listen to a job half done - half wit

NOT!

[pokercat999]

55. Unfortunately he should, QE2 is a disaster in the making.

"And a profound effect on the American people—especially the bottom 80%.

Bernanke’s stated purpose in QE2 is to spark consumer spending, and thereby reignite the economy. To do this, Bernanke and the Fed will pump $600 billion into the Treasury bond market, in monthly $75 billion increments—at minimum. According to the Fed’s statement, if more “liquidity” is needed, then by golly, more liquidity will be pumped into the economy.

QE2 is really the official start of a race-to-the-bottom debasement of the U.S. dollar.

No one doubts this—and no one would dispute that such a currency debasement will bring about upward pressures on consumer prices across the board. Indeed, this is the explicit purpose of QE2: The Fed is trying to induce inflation, as it believes that inflation will bring about a reignition of the stagnant American economy."

From one of hundreds of articles and essays about QE2, read more here: http://gonzalolira.blogspot.com/2010/11/boiling-frog-effects-of-qe2-on-bottom.html?source=patrick.net#navbar-iframe

I dislike Ms. Palin as much as most but on QE2 someone gave her the right answers. Bernanke and the President are dead wrong and are on a path to destroy our economy especially for the bottom 80% of Americans.

[LittleGirl]

31. that woman is nothing but a media whore

can't stand her and I wished they stop giving her a voice.

[Skittles]

35. why the fuck anyone give a fuck what this fucking woman has to say??

FUCK

[and-justice-for-all]

36. That dult needs to get a clue...nt

[tabasco]

37. Hey! She went to five colleges!

To get an associate's degree. She's brilliant!

[No Elephants]

62. I don't believe she got a degree.

[SoapBox]

39. Hey...GoofyPalinMcMoneyWhore,

I want your MOUTH to "Cease and Desist"!

[Kerrytravelers]

40. Wonder if she wrote that snappy little quip on her hand?

[pinniped]

41. Behold, Sarah Palin's mystical oracle. At least she doesn't have to travel to Delphi.

[activa8tr]

42. Sarah Palin and economics: oil and water. But it's nice to know she

basically FAILED the course in college, and never studies anything in depth, because she is incapable of doing so.

[silenttigersong]

43. Dear Sarah Palin

Please cease and Desist,from pushing yourself into the "lame-stream media"I myself am very tired of you popping up with some bird-brain statement with no substance to back it up.I know that you do not like the media so ,it would be a win-win situation. I must say this last tweet was very clever to further your populist approach to all those tea-party crazies,they really do enjoy a good conspiracy story,the FED being #1 on those crazy Libertarian's,hit list.So Mama Grizzly ,your herd of "real amuricans"will certainly admire you a woman standing up to an economic lion.Personally Mrs.Palin,I predict the false populism to revolt and since you are the darling of the tea -party,it will choose you as the symbol of the fall.I must say you really are a good politainer(political entertainer.):popcorn:

[lib2DaBone]

44. "Sarah Palin, she's my go-to gal for monetary policy analysis." ROFL Eggs actly...

Like Sarah would know an over-the-counter derivative from a left handed monkey wrench...

Sarah.. go sit down somewhere (out of the way) and quit opening your yap...

[ElsewheresDaughter]

48. Palin is living proof that they have made humans with fully function mouse brains!

[Gamey]

49. The days of authoritarianism were supposed to be eradicated...

...July 4, 1776, but alas, Sarah feels otherwise. Teabag her.

[unkachuck]

50. I feel your pain, tea bag sarah....

....wall street bennie and his paper monopoly money just might wreck your presidency....you wouldn't want to go down in history as a worthless president, or as having a worthless presidency?

....that honor belongs to the chimp....

[sakabatou]

51. Can I get some cheese to go with your whine, Sarah?

[MilesColtrane]

52. Fuck you, Mooselini.

Sit on it and spin.

[Ter]

53. Like a broken clock, she is 100% right this time

Eff that dictator Bernanke and his evil Federal Reserve.

[lunasun]

54. If only she would cease to EXIST!!!!!

[Evasporque]

57. Gosh darnit...quit it OUT....nt

[Rosie1223]

59. So is she planning to make a Citizen's Arrest?

via Twitter?

[No Elephants]

63. Teabagger Palin disagrees with Bushco Republicon Bernanke.

Hard to convey how much I don't care.

Just sorry we're still "blessed" with Hanky Panky Bernanke.