September 23rd, 2009 10:18 am | by Marc Gallagher | 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.