Friday, February 13, 2015

Those Clueless Republi-CONs

UPDATE:  As noted before, Obama has fail to create the Republi-con's imaginary hyperinflation.

Is it because "[i]nflation is just a scare story [Republi-cons and] people old enough to remember the 1970s tell."

Read the Washington Post, Inflation is dead: It’s below 1 percent in the U.S., U.K., Europe, China, and Japan.

Rand Paul and the Republi-cons "have, for years, brayed about high inflation that didn't exist and currency depreciation that wasn't happening, even taking the unprecedented step of publicly warning the Fed off its stimulus efforts, all while the real problems were too-low inflation, and, more recently, a stronger dollar that's put a crimp on the recovery. But despite this, Paul wants these people who have been, to put it charitably, wrong about everything to have more of a say against the ones who haven't. And it's all in the name of 'transparency' that the Fed is already providing plenty of, which Paul would know if he actually read something about it anywhere other than the usual Austrian suspects. The worst part, though, is that we know what an economy with the kind of tight money that Republicans prefer looks like right now. It's called 'Europe,' and it has twice as much unemployment as we do. But hey, empirical evidence doesn't matter, right? Let them eat first principles!

That's the kind of crazy that would make charlatans and cranks both say Rand Paul is giving them a bad name."

Read the Washington Post, Clueless in Kentucky: Rand Paul’s ideas about the Fed make absolutely no sense.