George Will. Carnival Barker or Crooner For the "Conservatives"?

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Morpheus
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George Will. Carnival Barker or Crooner For the "Conservatives"?

Typical Establishment George. Get a load of this...

Is the Fed's independence (de facto, not de jure) "undemocratic"? Somewhat. So what?

America is committed to democracy -- and to circumscribing democracy's scope in order to minimize the damage it can do by improvident responsiveness to untempered gusts of public passion. Thus the government is replete with restraining mechanisms -- three branches of government, rival chambers of the legislative branch, vetoes, supermajority requirements, judicial review, etc. And there are extraconstitutional circumscriptions of democracy, such as allowing the Fed an independence that exists at the sufferance of Congress.

If Time magazine has a lick of sense, Bernanke will be its Person of the Year because his leading role in stabilizing the financial system enabled the president to pursue other objectives. He did not do it perfectly, but he prevented paralysis.

On Monday, he reminded his Economic Club listeners of John Maynard Keynes's hope that "economists could manage to get themselves thought of as humble, competent people, on a level with dentists." But humble people do not claim -- as Bernanke does, under Congress's mandate -- the competence to simultaneously produce, with "adroit" policies, price stability and full employment.

Like the Fed, dentists are always important and urgently desired when pain is intense. But they are rarely objects of their patients' affection

http://www.washingtonpost.com/wp-dyn/content/article/2009/12/09/AR200912...

And this guy is the "conservatives'" sweetheart.

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Re: George Will. Carnival Barker or Crooner For the ...

Will's reputation as some kind of intellectual becomes rapidly tarnished any time a politically sensitive topic comes up.  His intellectualism is clearly secondary to ideology.  He can become remarkably obtuse when reality conflicts with his ideology.  The one topic upon which I find myself something of a devotee is baseball.  On that subject he is nearly poetic in his eloquence.

Doug

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Re: George Will. Carnival Barker or Crooner For the ...
Morpheus wrote:

And this guy is the "conservatives'" sweetheart.

Not throwing rocks here because I mostly agree with you, but the "liberals" answer of Jaime Dimon is better how?

"Constantly choosing the lesser of two evils is still choosing evil."  Jerry Garcia

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Re: George Will. Carnival Barker or Crooner For the ...
Dogs_In_A_Pile wrote:
Morpheus wrote:

And this guy is the "conservatives'" sweetheart.

Not throwing rocks here because I mostly agree with you, but the "liberals" answer of Jaime Dimon is better how?

"Constantly choosing the lesser of two evils is still choosing evil."  Jerry Garcia

I put "conservatives" in quotes because this runs against the professed tenets of conservatism. That's how messed up the charade is in our nation. So-called "conservative" talk boxes like George Will crooning about giving Ben Bernacke the Man of the Year Award. 

I know abiding conservatives that would barf at Will's comments. 

Besides that point, it's interesting how the establishment carnival barkers from both sides of the alleged spectrum all croon over the necessity of a central bank operating in secrecy. 

As long as these clowns hold the majority in their spell, there will be no reform. 

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Re: George Will. Carnival Barker or Crooner For the ...
Dogs_In_A_Pile wrote:
Morpheus wrote:

And this guy is the "conservatives'" sweetheart.

Not throwing rocks here because I mostly agree with you, but the "liberals" answer of Jaime Dimon is better how?

"Constantly choosing the lesser of two evils is still choosing evil."  Jerry Garcia

Amen brother, Amen. 

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Re: George Will. Carnival Barker or Crooner For the ...

 

If someone as intelligent as George Will can get something that's so important so wrong, is it any wonder that the average Joe Six-pack is so _____________ (fill in the blank:  ignorant, apathetic, confused etc.)

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Re: George Will. Carnival Barker or Crooner For the ...
earthwise wrote:

 

If someone as intelligent as George Will can get something that's so important so wrong, is it any wonder that the average Joe Six-pack is so _____________ (fill in the blank:  ignorant, apathetic, confused etc.)

Good point. Let's assume that he really means what he says. What does that say about the average Joe or Jane in that he/she thinks the Federal Reserve is the 4th branch of government? 

And if the American Consumer even realized that the Fed prints money for the government so that the government can bribe them for their loyalty to the "system", do you really think that the American Consumer* has the capacity to think through the consequences? 

American Citizens are deeply concerned. In fact, the word "outraged" is an understatement. 

Not the American Consumer though. Instant gratification baby! 

*When in deep-heated conversations with zombies emotionally arguing the status quo, I have been known to refer to them as "American Consumers", in fact unknowingly so. When I refer to someone as a consumer vs. a "citizen", it's not meant as a flattering comment. If you know what I mean. 

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Re: George Will. Carnival Barker or Crooner For the ...

Could this be the same George Will I used to read?

"If you seek Hamilton's monument look around.  You are living in it.  We honor Jefferson, but live in Hamilton's country, a mighty industrial nation with a strong central government."

and

"Conservatives define themselves in terms of what they oppose."

So why the "defense" of the (Sub) Prime Minister Ben and The 12 Stupid Men (also known as the Fed)?

 

Doug mentioned it, George Will is all over baseball - so I can almost forgive the Bernanke defense.

"Baseball, it is said, is only a game.  True.  And the Grand Canyon is only a hole in Arizona.  Not all holes, or games, are created equal."

So with the saving grace of his views on baseball, I suppose his education at Trinity, Oxford and Princeton wasn't a total waste.

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Re: George Will. Carnival Barker or Crooner For the ...

George Will was showing independent intellect leading into the 2008 election.  He was far from a steadfast conservative, if you read his Wash Post columns leading up to it.  He was actually complimenting Obama on the democratic nature of his average donation amounts among other things that broke with the party.   

The dentist analogy was a good one, IMO.  Think of what Volcker did vs the ferocity of fiscal spending that came from Reagan & Congress in the eighties.  It was the monetary opposite and why he eventually wasn't reappointed. 

The only secrecy is that which comes from the public's choosing to remain ignorant over the importance of the federal reserve.  No, they haven't been completely transparent on monetary policy, or precisely who's in what position with the banks.  But I don't believe "full employment" would be served by a fed statement that went something like "well, we really should close them all but don't know what else can be done at this point".  Maybe a congressional audit, or Ron Paul, can bring about the instantaneous transparency that could lead to that type of conclusion.  Then, we could all just cut right to the chase and line up for our soup.

Morpheus wrote:

.... consumer vs. a "citizen", it's not meant as a flattering comment.  

I'd be flattered by either

 

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Morpheus
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Re: George Will. Carnival Barker or Crooner For the ...
FinPro wrote:

George Will was showing independent intellect leading into the 2008 election.  He was far from a steadfast conservative, if you read his Wash Post columns leading up to it.  He was actually complimenting Obama on the democratic nature of his average donation amounts among other things that broke with the party.   

The dentist analogy was a good one, IMO.  Think of what Volcker did vs the ferocity of fiscal spending that came from Reagan & Congress in the eighties.  It was the monetary opposite and why he eventually wasn't reappointed. 

The only secrecy is that which comes from the public's choosing to remain ignorant over the importance of the federal reserve.  No, they haven't been completely transparent on monetary policy, or precisely who's in what position with the banks.  But I don't believe "full employment" would be served by a fed statement that went something like "well, we really should close them all but don't know what else can be done at this point".  Maybe a congressional audit, or Ron Paul, can bring about the instantaneous transparency that could lead to that type of conclusion.  Then, we could all just cut right to the chase and line up for our soup.

Morpheus wrote:

.... consumer vs. a "citizen", it's not meant as a flattering comment.  

I'd be flattered by either

 

Fin. You're assuming that we're going to have soup available. You puzzle me Fin. How can you possibly think that the worst is over when: 

a. There are stil one quadrillion dollars (not a typo) of toxic derivatives in the banking system? 

b. We have 5-6x our total GDP's worth of SS and Medicare obligations that are mathematically impossible to meet? 

c. Unemployment is worsening, not increasing. Have a look over at the articles on Seeking Alpha. The unemployment number last month turns out to be crap, among other indicators. So, no tide has been turned, just temporarily stabilized. For that I am grateful to have more time to get ready for this unfolding mess. 

d. What about home equity re-fi's, atl-A's, option ARMS, and the looming commerical real estate implosion. You do know that they make the residential housing bomb look trivial in comparison, right? And they're coming our way to a banking system near you!

I for the life of me cannot see where you get your optimism. 

Please don't ever call me a "consumer". Them's fightin' words. 

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