Posted on 10/08/2009 7:55:15 AM PDT by Jack Black
In a full page article about the falling value of the Dollar in Financial Times the article notes that Sarah Palin posted a comment on her Facebook page on the issue.
The opening paragraphs of the article contained her quote:
The falling US dollar is giving ammunition to the critics of the Obama administration and fuelling broader concerns about the potential erosion of America’s reserve currency status.So far so good, but then we move to the expert analysis and Norman Ornstein of the American Enterprise Institute, a supposedly conservative think-tank drops this nicely executed character assassination of Palin:Republican politicians have highlighted the dollar’s slide as evidence of waning US power.
Sarah Palin, the former vice-presidential Republican candidate, on Wednesday sought to link the dollar decline to rising US indebtedness and dependence on foreign oil. “We can see the effect of this in the price of gold, which hit a record high today in response to fears about the weakened dollar,” she wrote on her Facebook page.
“The dollar has always been a testosterone issue among America’s political classes,” said Norm Ornstein, a veteran analyst at the conservative American Enterprise Institute.“This time there may be a legitimate debate to be had over the dollar’s reserve status, but Sarah Palin is not qualified to participate in it.”
While the article on the dollar in interesting I find Ornstein's comments far more interesting. Palin is really threatening, not just to Obama, Democrats and liberals, but to the entire East Coast establishment.
So here we have a nominal conservative institute 'scholar' going out of his way to tear down one of the leading Conservative figures in America. Why? Perhaps Norman and his fellow travelers understand how truely useless they are to Palin.
Her baptism by fire in the 2008 election seems to have produced a much needed scepticism on her part of the inside-the-beltway experts, right and left.
The FT really get it. Great insight.
A MeCain Republican, no doubt!
Ornstein’s His greatest political influence may have come in writing substantial portions of the Bipartisan Campaign Reform Act, also known as the “McCain-Feingold” campaign finance bill passed in 2002
Since the establishment of Air America Radio, Ornstein has performed the bit with a wide variety of questions on The Al Franken Show. He also appeared on the March 7, 2006; April 24, 2006 and January 10, 2008 episodes of The Colbert Report on Comedy Central.
We are too stupid to read the health bill, so I know we can't understand this either. We should thank God for such insightful people to keep us on the straight and narrow. Well at least according to them.
During the Clinton years, the leftist media would always trot out this “conservative”, make lots of initial comments about how “conservative” he was, and that he was from a “conservative” think tank, and then turn Norm loose to spout leftist pap in support of Clinton.
Then Norm and the presstitutes would all have a good laugh, and the presstitute would close with something like “Well, there you have it, another conservative who believes that President Clinton has “gotten it right” after all.
The basic laws learned in Econ 101 are applicable 99.44% of the time. If someone puts forth a policy which those laws would predict to have undesirable side-effects, and the person does not acknowledge those laws and offer a particular reason to believe they would not apply, the person is either ignorant or disingenuous.
One principle I don't recall in Econ 101 but which I think also needs to be addressed is Conservation of Wealth. Unlike matter, wealth can be created and destroyed. There are only certain ways in which it can be created, however. If someone comes up with a scheme via which a person gets $100,000 without doing anything to create that wealth, such a person is taking at least $100,000 out of one or more other people's pockets.
A big part of the reason many financial markets are so complicated is that the major players need a way to conceal fraud. If a mortgage broker writes up a $300,000 option-ARM mortgage for someone with a $12,000/year job, such an action does not create any wealth. To the contrary, it destroys wealth by causing resources to be inefficiently allocated. Fannie, Fredy, and the other related institutions may make it difficult to determine who in particular is getting ripped off by the mortgage, but that doesn't change the fact that the money made off such mortgages is obtained fraudulently.
sorry Norman old boy.......you’re not qualified to speek about Madame President
Hey Norm, who do you think you are?
Someday the rest of the country will recognize the ascendency of the DC Metro region clearly comes at the expense of the rest of the country. They take tax monies..and build bureaucratic monuments
IMO, most of these "think tanks" are nothing more than the leper mystics we saw in the movie "300".
Just looking at that picture tells me all I need to know about this loser.
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