PERRY’S TEXAS TALK, BERNANKE TAKES SOME HEAT

When Howard Cosell asked Mohamed Ali where he aimed his punches, Ali said “I aim for the back of the head.”  Mohamed Ali fought like a champ.  Republicans, on the other hand are given to pulling their punches.  Not Rick Perry.

It would be treason, Perry says.

“If this guy prints more money between now and the election, I don’t know what y’all will do to him in Iowa, but we would treat him pretty ugly down in Texas,” Perry said to laughter from supporters in Iowa.

“Printing more money to play politics at this particular time in American history is almost treacherous, treasonous in my opinion,” he said.

Ears on the Right heard NO MORE STIMULUS!  Ears on the Left heard only a blasphemous threat.  Those in the middle are provoked to thought.  In my opinion, it was a gotcha that won’t get.  Any sane person knows the comment was a slander, not a real threat.  Slanders are the spice of choice in political campaigns.  Bernanke is a good guy and Perry knows it.  But even good guys make mistakes.

Now about the Fed.  When interest rates are six percent, lowering them to five will promote borrowing by consumers for refrigerators and cars and borrowing by businesses for expansion.  It can poke an economy and get it to move.  But lowering rates from near zero to nearer zero is like trying to move the economy by pushing on its string.  What the economy needs is not another Quantitative Easing.  What the economy needs is a president who isn’t a business killer.

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