Thursday, September 22, 2011


Two of the Four Clowns of the Apocalypse!
Scott Sumner, political and economic conservative, calls what the 4 Clowns of the Apocalypse did to try and influence the Fed an outright act of treason:
I think Congressmen have the right to speak out on monetary policy. As long as their advice is not politically motivated. Ask yourself the following question: Would these men be pressuring the Fed to adopt a tighter monetary policy if:

1. Unemployment were over 9%.

2. Inflation had averaged 1% over the past three years.

3. George Bush were president.

Were these men criticizing monetary policy under Bush, when inflation was higher than today? I don’t recall that happening.

Unlike Rick Perry, I don’t think it is treasonous to advocate easy money or tight money. Treason is advocating policies that you know will hurt the country, because you hope you can derive political gain from America’s misfortune. I’ll leave it to my readers to decide who should be charged with treason.

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