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Vitriol for Bernanke, Despite the Facts

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A Fool Too Long
A Fool Too Long

Rick Perry doesn’t seem like the type to let facts get in the way of constant stream of vitriol.

On Aug. 16, while speaking in Iowa, Gov. Rick Perry of Texas, a Republican presidential candidate, took the demonization of Mr. Bernanke to a new level. He declared in much-quoted remarks — and to appreciative laughter from the crowd — that “we would treat him pretty ugly down in Texas,” and that Mr. Bernanke’s monetary policy was “almost treacherous — or treasonous, in my opinion.” The next day, in New Hampshire, Mr. Perry was less inflammatory but more pointed. “They should open their books up,” he said of the Fed. “They should be transparent so that the people of the United States know what they are doing.”…

It’s also hard to fathom what Mr. Perry means when he calls for the Fed to “open its books up.” It publicly releases its current balance sheet every Thursday at approximately 4:30 p.m., and it’s available on the Fed’s Web site. Mr. Perry’s campaign didn’t respond to a request for comment.

The charge that the Fed is “printing money” seems to be shorthand for recklessly risking or even seeking inflation. That notion “is complete nonsense,” Robert E. Hall, a senor fellow at the conservative Hoover Institution and professor of economics at Stanford, told me. “But it must be exciting to accuse him of things he hasn’t done.”

(click here to continue reading Vitriol for Bernanke, Despite the Facts – NYTimes.com.)

Hmm, Fed open its books every Thursday, at a specific time, and yet Rick Perry continues to insist that the Fed is hiding something. Hmmm. Maybe Mr. Perry just has a reading comprehension problem?

Written by Seth Anderson

September 3rd, 2011 at 1:13 pm

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