Sarah Palin echoes Ron Paul on the Federal Reserve’s role in crisis

September 23rd, 2009 10:18 am  |  by  |  Published in Bailouts, Big Government, Commentary, Economics, Federal Reserve, Free Market, government spending, Liberty, Market Regulation, Maven Commentary, Money, Ron Paul  |  14 Responses

During the general election Presidential campaign of 2008 I had no love for the decidedly non-libertarian views expressed by Sarah Palin as John McCain’s running mate. Prior to McCain selecting her I kept reading about how she could be considered a great libertarian leaning Republican. Then McCain chose her and the truth came out. Or did it?

Is she now going to try to undo the neo-conservative views she expressed while campaigning as McCain’s running mate? It would certainly be a good political move for her, but can she be successful doing it? I’ll be reserving judgment until she makes another statement on foreign policy and interventionism, but at least she’s joining the chorus of critics against the Federal Reserve.

During her Hong Kong speech today she took aim at the Fed for playing a role in causing the economic crisis. The Wall Street Journal blog reports:

Former Alaska Gov. Sarah Palin fired a shot at the Federal Reserve in her coming-out speech in Hong Kong today, blaming the central bank for the current crisis and disagreeing with the idea that the Fed should have a greater role in preventing the next crisis. It was an echo of fellow Republican and Texas congressman Ron Paul, who has led the charge in Congress to perform an audit of the Federal Reserve with an eye to eventually eliminating it.

“How can we discuss reform without addressing the government policies at the root of the problems? The root of the collapse? And how can we think that setting up the Fed as the monitor of systemic risk in the financial sector will result in meaningful reform?” she said. “The words ‘fox’ and ‘henhouse’ come to mind. The Fed’s decisions helped create the bubble. Look at the root cause of most asset bubbles, and you’ll see the Fed somewhere in the background.

More generally, Mrs. Palin took the tack that the financial crisis occurred because government got in the way of free enterprise.

So, thanks for jumping on the anti-Fed bandwagon Sarah, now do liberty-loving Americans another solid and start preaching non-interventionism and a strong focus on national defense rather than preemptive national offense. Do that, then continue it and over time some of us may start believing you.

Responses

  1. Glen says:

    September 23rd, 2009 at 2:37 pm (#)

    Probably the most difficult part for any candidate of principle who is running for Vice President is having to echo the running mate's positions. I believe there are a lot of positions that Palin holds that we have not heard yet because she was parroting McCain's platform last year.

  2. section9 says:

    September 23rd, 2009 at 4:48 pm (#)

    One of the problems that Palin had last year was that she was essentially stuck defending McCain and his interventionist, Big Gummint A$$ Clown GOP record. This line from the speech indicates to me that while she's running as a small government Republican, she'll continue to support the general line of the GWOT.

  3. Skrag says:

    September 24th, 2009 at 1:14 am (#)

    I'll remain doubtful of her. This smacks of political expediency, rather than a genuine position. Why is she coming out against it now, AFTER the hearings were already set for 1207?

  4. Eric Dondero says:

    September 24th, 2009 at 1:25 am (#)

    What "neoconservative views" did she express during the McCain campaign? Are you kidding me?? She ran the most libertarian campaign for Vice-President EVER!! outside of an explicit Libertarian Party candidate. (Yes, before you even bring it up, I'll concede that Wayne Root ran a more hardcore Libertarian campaign than Palin in 2008, but they weren't that far off).

    Face it, you are just suffering from a bad case of NIH – Not Invented Here.

    But those of us who have been involved in Alaska politics for years, know that Sarah is an original libertarian.

  5. LibertarianMike says:

    September 24th, 2009 at 1:45 am (#)

    Eric, your warped definition of "libertarian" is very different than the actual definition. That much has been proven time and time again.

  6. CaB says:

    September 24th, 2009 at 1:52 am (#)

    she worries me in a Dan Quayle kind of way

  7. The Palin-Cons are the same old Neo-Cons :: Liberty Maven says:

    October 7th, 2009 at 2:29 pm (#)

    [...] I assumed it meant Sarah Palin and not Sarah Jessica Parker, but I can’t be sure. Last month Palin was echoing Ron Paul on the role of the Federal Reserve in America’s economic crisis. I encouraged her (not that she gives one moose about what I [...]

  8. Joe says:

    October 20th, 2009 at 4:57 am (#)

    The more I hear Palin the more I like her. She is slowly getting away from the McCain stuff she had to go in circles to get out. I was a huge supporter of Ron Paul and the more I see, hear an investigate Palin the more I like her.

  9. LibertarianMike says:

    October 20th, 2009 at 2:57 pm (#)

    Keep listening. It appears that her anti-Fed statements were just a slip-up as she doesn't appear to have said anything else about it since then, and has continued to tow the neo-con party line since…

  10. Jason says:

    February 21st, 2010 at 7:29 am (#)

    Why Ron Paul? Seriously? NO WAY! GOP is not getting the message. We want someone who will change things!!!! Not another old walking-dead liberal Republican trying to earn his stripes. Someone that will bring in Flat Tax, Stop Spending, Reduce gov size, ssi reform, and real change! Get back to common sense, basics. Not sure who that is yet, but I KNOW it's not Ron Paul. Can I get a witness?

  11. Jason says:

    February 21st, 2010 at 7:29 am (#)

    Why Ron Paul? Seriously? NO WAY! GOP is not getting the message. We want someone who will change things!!!! Not another old walking-dead liberal Republican trying to earn his stripes. Someone that will bring in Flat Tax, Stop Spending, Reduce gov size, ssi reform, and real change! Get back to common sense, basics. Not sure who that is yet, but I KNOW it's not Ron Paul. Can I get a witness?

  12. Andrew Panken says:

    October 22nd, 2010 at 2:52 pm (#)

    I just don't think a person such as Eric Dondero who has engaged in smear campaigns against one of the few people who has an actual libertarian voting record, has any standing to tell us anything. Tell us Mr. Dondero, not about her so called libertarian campaign for VP. LOL. Let's hear about her libertarian voting record in Alaska. Give us actual facts, not your claptrap. You post across the internet as some type of libertarian expert, when in fact all you've done is try to knock off the only real libertarian in Congress, due to some petty personal gripe over your employment. Why don't you grow up and do your own thing, instead of attacking Ron Paul and trying to make Neo-cons into libertarians. You're a jokertarian not a libertarian.

  13. Andrew Panken says:

    October 22nd, 2010 at 3:03 pm (#)

    Why didn't she come out sooner against the FED? Because she just jumped on the bandwagon with her speech. Now, we're supposed to embrace her as a great libertarian leader!! I suppose George Bush is a libertarian, too? How about Richard Nixon another great libertarian? Don't forget McCain and the first Bush. Why the GOP is a great libertarian fountainhead isn't it? Let's all get down and pray for a GOP takeover of the White House in 2012. It doesn't matter who they elect does it as long as it's a Republican.

  14. LibertarianMike says:

    October 22nd, 2010 at 10:24 pm (#)

    *thumbs up* !!!