Texas Governor Rick Perry wants to lynch Ben Bernanke
In typical over the top T-Party fashion, T-Party favorite and republican presidential candidate, Rick Perry, made a thinly veiled threat on Ben Benanke’s life today accusing him of treason if he tried to print anymore money between now and the election. Typically, a loose monetary policy by the Fed during an election year is perceived to help the incumbent administration by spurring economic activity and Perry’s contention is that any attempt by Bernanke to do that would be political in nature, hence making him a candidate to be strung up from the nearest tree.
There are many who aren’t fans of the Fed’s policies, yours truly included, but this statement by Perry speaks volumes about him and by extension, the T-Party itself. To be sure, Bernanke has been running the printing presses on overtime, but the only thing he’s been able to juice are the pockets of the Wall Street crowd. The rest of us have merely been paying higher prices for oil and food at the same time that unemployment and underemployment have been spiraling upward. If you happen to be a saver, you can also thank Bernanke for the paltry yield on your passbook savings account. The bottom line is that the average voter has actually been harmed by Bernanke rather than helped and as long as the focus is on saving Wall Street, that will continue to be so. So, the fact that Perry is either unaware of this or hasn’t been advised about this speaks volumes about how out of touch he is generally. Moreover, to make a thinly veiled threat on the Fed chair’s life is beyond the pale. Of course, his defenders will claim he misspoke and that his lack of experience on the national stage are to blame for this, but this is the same guy who suggested that Texas should secede from the nation upon Obama getting elected.
Perry might also be trying to compete with Ron Paul here. Paul will either win the Iowa caucuses or come in a strong second. He came in a strong second in the recent Iowa straw poll, but was ignored by a press that’s enthralled by Michele Bachman. Paul has consistently been very critical of the Federal Reserve and has built a following around that and his isolationist foreign policies, but the mainstream republicans definitely don’t want him winning. They do want Bachman and Perry may just be in this thing to thwart Paul which indirectly helps Bachman. This ought to be interesting.