Thursday, August 18, 2011

Perry, Bernanke and the Use of Appropriate Language

Presidential candidate Rick Perry commented that it was "almost treacherous -- or treasonous" for the Fed Chairman to increase stimulus spending before the 2012 election.  From my perspective that is a bit extreme.  And while I am not a Perry fan (for lots of other reasons) I was surprised by the immediate "gather round the wagons" mentality that emerged from the Washington establishment.   Chris Matthews compared Perry's comments to ones that Bull Connor might have used (Matthew's ability to be subtle is not well developed.)   Al Hunt, who has become an epitome of the Washington establishment, goes on in the clip below to natter about the effects on the campaign.   But there is legitimate disagreement in the electorate about whether QE has actually done anything to boost the economy.  And there are a number of prominent economists who have argued that the Fed actions have been ineffective at best and destructive at worst. 

What this dustup highlighted for me is two things.  First, Perry indeed needs to chose his words more carefully. The left, its willing lapdogs in the press will use this to try to "Sarah Palin" Perry.  But, the Washington establishment showed once again how they live in a closed environment isolated from the real world.   "We know better" may have worked at one time but I am not sure it will work in this environment.

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