From “Clarifying Romney,” James Surowiecki, TheNewYorker:
“Romney’s specific policies haven’t helped him much, either, partly because his economic speeches have been light on detail, and partly because his party’s ideology limits the kinds of solutions he canoffertothecurrentjobcrisis. As a Republican, Romney can’t push for any more stimulus, and is demanding deep spending cuts (without specifying exactly what programs he’d kill). And, while even a conservative could go after the Federal Reserve for doing too little to boost economic growth, Ropmney has made exactly the opposite argument. He has said that he would replace Ben Bernanke with someone who would support a ‘strong dollar’ — which means tighter monetary policy, fewer exports, and fewer jobs.” Emphasis added.
This “strong dollar” garbage is intended to reach out to the Paul people, who want to return to the gold standard. He won’t just call out crazy for what it is, he panders to it, he appeases it.
Newt the Desperate is trying to siphon votes from Ron Paul in South Carolina by saying he wants a commission to pursue getting us back on the gold standard, which is of course one of Ron Paul’s signature issues.
Ronald Reagan appointed such a commission and, of the 17 members, 15 ultimately rejected the idea. Guess who was one of the two in favor? Why Ron Paul, of course.
Newtie also bashed the Fed, saying it should abandon its dual mandate of fighting both inflation and unemployment and stick to the former.
Bonus fun fact — When Sarah Palin was chosen as McCain’s Veep, she thought “the Fed” referred to the federal government and didn’t know it meant the Federal Reserve. That would make for some interesting Emily Litella moments.