Saturday, October 22, 2011

EPJ Reader Confronts Herman Cain on His Missing the Housing Bubble

Drew Hjelm emails:
I thought you might find this question I asked Herman Cain this morning funny.He visited Iowa City and I asked about how he failed to see the housing bubble in 2005 and 2008, and asked him what he's learned since then. It's audio only.

Have a listen.

Drew's full write up is here.

9 comments:

  1. Huckster Cain. I am getting so sick of him.

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  2. LOL - you can be wrong if you don't have all of the info? Glad to hear him give a serious answer. A President never has all of the info, so how does he plan to handle that when you get no excuses?

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  3. There's no doubt that Herman Cain is driven; that goes a long way towards succes in business. However, his style seems to be "flail at a problem until you get it right." If you're doing that with your money, or the money of people who voluntarily donate to your flailing, that's fine. However, when you can flail with all the "power" of the U.S. government behind you, you're incredibly dangerous.

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  4. I didn't know nearly as much about econ back then (I was a supply-sider) and I didn't have access to much of the economic data, but even I could see it coming. Granted, I lived in SoCal from 2002-2007, so I guess that it was kind of impossible for me to miss. But, by 2008 even the regular Joe Shmoe on the street at least had a gut feeling that the ride was over.

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  5. Great job, Drew.

    If it was not clear before that Republican primary voters are as oblivious about even basic economic concepts as are the Democrats and "progressives", their support for Cain has sure made it crystal clear.

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  6. I wonder what Cain would have said if asked about Austrian economics or the fact that Ron Paul and Peter Schiff didn't need a bunch of experts to see it coming. It might be worthwhile for libertarian leaders to post a list of ideal questions that readers can go around and ask.

    Drew's question was good, but there's probably better things to ask, which will advance our cause more, I would think.

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  7. That's the problem with being a central planner, there's never enough information.

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  8. Imagine someone as high up in the Fed system as him not having all the right information! Ha, ha! Well, who does? How was Ron Paul able to call it exactly right years in advance?

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  9. 2005 had the doomsday feeling. As it turned out, 2005 was the start of the abysmal real estate.

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