Tuesday, May 8, 2012

Ron Paul has His Hands Full

Danny Sanchez reports:
At a hearing (going on NOW) of the House Financial Services Committee on the Federal Reserve, Ron Paul is dealing with Lacy Clay who in the past called Austrian Economics “unscientific” because it was deductive, a Keynesian Democratic congressman (Keith Ellison) who wants the Fed to inflate more to focus on the “employment” side of the dual mandate, a Friedmanite Republican congressman (Kevin Brady) who wants a “single mandate” of “price stability” (posing, of course, as a free market advocate), and Barney Frank, who defends the “dual mandate” as it is, and even just commended George W. Bush for appointing Ben Bernanke, and defended the Fed Chairman as having been “unfairly criticized.

Fortunately, Klein and  Herbener will soon be coming to the rescue.

1 comment:

  1. That the FED policies have to be defended is a milestone. The seeds of doubt in the invincibility of the FED have been sown from years of tireless education by RP are starting to bear fruit, Barney Frank notwithstanding.