The Hill – By Michael O’Brien

Texas Gov. Rick Perry (R) fired back Wednesday at President Obama, who admonished the Republican presidential candidate to watch his words more carefully.

Perry said “actions speak louder than words” after Obama’s public admonishment Tuesday on CNN for Perry’s comments that an expanded money supply by Federal Reserve Chairman Ben Bernanke would be “almost treasonous.”

“Yesterday the president said I needed to watch what I say,” Perry told a crowd in New Hampshire at a politics-and-eggs breakfast, which was broadcast online.

“I’d just like to respond, if I may: Mr. President, actions speak louder than words. My actions as governor are helping to create jobs in this country,” Perry said. “This president’s actions are killing jobs in this country.”…]

“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method, they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. . . .

Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. . . . (It) does it in a manner which not one man in a million is able to diagnose. . . .”   

John Maynard Keynes, “The Economic Consequences of the Peace – 1920

Bernanke Endorses Obama

There was a time when Fed chairmen feared to even seem political.

WSJ – OCTOBER 21, 2008

Ben Bernanke apparently wants four more years as Federal Reserve Chairman. At least that’s a reasonable conclusion after Mr. Bernanke all but submitted his job application to Barack Obama yesterday by endorsing the Democratic version of fiscal “stimulus.”

While the Fed chief said any stimulus should be “well targeted,” even a general endorsement amounts to a political green light. Mr. Bernanke certainly knows that Mr. Obama and Democrats on Capitol Hill are talking about some $300 billion in new “stimulus” spending, while President Bush and Republicans are resisting. And by saying any help should “limit longer-term effects” on the federal deficit, he had to know he was reinforcing Democratic opposition to permanent tax cuts.

Mr. Bernanke could have begged off — and would have been wiser to do so — given how much the Fed has already made itself a political lightning rod with its many Wall Street interventions. He might also have thought twice about endorsing one party’s policy preferences a mere two weeks before Election Day given his obligation to preserve the Fed’s independence. We can remember when tougher Fed chairmen used to refrain from adjusting interest rates close to an election for fear of seeming to be political; they would never have dreamed of meddling in campaign tax and spending debates.

Perhaps Mr. Bernanke’s blunderbuss political intrusion will win him more Democrat friends, and maybe even Mr. Obama’s goodwill. To the rest of the world, he has harmed the Fed and made himself less credible.

Embry: Perry takes a liking to Iowa

Longview News-Journal By Jason Embry

DES MOINES, Iowa — A man in a stars and stripes bandanna tricked Texas Gov. Rick Perry on Monday.

“Governor Perry, try a corn dog,” the Iowa State Fair vendor yelled as Perry and the horde with cameras surrounding him strode down the fair’s main thoroughfare. Having already passed up a couple of food vendors, Perry grabbed the corn dog, dipped it in mustard, took a bite and gratefully looked back.

’’It’s a veggie corn dog,” the vendor said.

Perry looked startled for a second but soon recovered. “As long as they make it on a farm,” he said.

The governor has been talking about farming quite a bit, and quite comfortably, in his first couple of days in Iowa, site of the country’s initial nominating contests. His background in agriculture — raised on a West Texas farm, eight years as state agriculture commissioner — is one reason he’ll be a major contender to win the Iowa caucuses in early 2012.

Religion is another.

’’Thank you for calling our nation to pray and fast,” Norma Johnson of Story County told Perry as she pulled him in for a hug. Johnson was wearing a red Michele Bachmann T-shirt but said she’d be re-evaluating all of the candidates with Perry’s entry.

Experts say more than half of Iowans who took part in the 2008 caucuses were religious conservatives.

Iowa is shaping up well for Perry, and his team likes his chances here.

Bachmann won the Ames Straw Poll on Saturday and hails from Waterloo, so it’s reasonable to call her the Iowa front-runner. Many Iowans say they like that she’s been so outspoken on national issues.

But Perry was clearly the more comfortable candidate Sunday night, when they both appeared in Waterloo. He arrived well before his speech and approached individual voters who had assembled for a Black Hawk County Republican Party dinner.

Bachmann, on the other hand, stayed in her campaign bus until well after her allotted speaking time (she didn’t enter the building until her second introduction) and stayed on stage afterward to sign autographs. Voters, in other words, had to approach her…

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Armstrong Economics: Indirect vs Direct Stimulus

The Creature From Jekyll Island

It’s The Economy Stupid…

Public Sector Employment: The Gravy Train Robs Peter To Pay Paul

World Governance: Who Gave Them The Right To Take What I Have Earned?

Obama’s “Union” Trade War Has Started

Wealth Redistribution: Legal Plunder Or Just California Dreamin?

“Helicopter Ben” Bernanke: Keynesian Fine Tuning Or Intertemporal Misallocation?

The One World Currency Has Comith?

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