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It’s not a fair fight. Sarah Palin is facing down Ben Bernanke, telling the brainy Federal Reserve boss to “cease and desist” in his plan to flood the financial system with $600 billion of freshly printed cash.
If this were boxing, it would be stopped before Yappy Palin and Brainy Ben got into the ring. But hold on — there’s a catch, a mighty big one.
Germany, China, Russia, Brazil and Japan and most of the world’s central banks are on Palin’s side. They warn of a potential global disaster of rampant inflation and protectionism.
They’re also calling America a hypocrite because the cash surge will cheapen the dollar, a form of currency manipulation the United States finds abhorrent when China does it.
The rising chorus of criticism is a “global backlash” against Bernanke, says The Wall Street Journal. Its editorial page concludes that Palin has effectively managed to put the case for a strong dollar “back to the center of the American political debate,” where it belongs, and adds: “She shows a talent for putting a technical subject in language that average Americans can understand.”
True story. Oh, what interesting times.
Michael Goodwin is a New York Post columnist and Fox News contributor. To continue reading his column, which covers a range of topics, click here.
