Posted on 09/23/2009 6:00:50 AM PDT by SolidWood
HONG KONG -- Former Alaska Gov. Sarah Palin, in what was billed as her first public-speaking engagement outside North America, blamed the world financial crisis on government excesses and called for a new round of deregulation and tax cuts for U.S. businesses.
"We got into this mess because of government interference in the first place," the former Republican U.S. vice presidential candidate said Wednesday at a conference sponsored by investment firm CLSA Asia Pacific Markets. "We're not interested in government fixes, we're interested in freedom," she added.
On the foreign-policy front, she told the room full of bankers and executives of the importance of the global fight against terrorism and of finding ways to engage China as a global power. She said China "rightfully makes a lot of people nervous."
(Excerpt) Read more at online.wsj.com ...
That and the Fed’s holding interest rates too low. She’s taken direct aim at both of the (government-created) causes.
Good lines, and I hope she elaborated on that some. It was far more than just the Fed's cheap money policies, but there is no full text of the speech yet so it's not possible to get her fuller take on the financial crisis.
However it is also true that the abuse of leverage on the part of practically every major player in the economy, including the Fed, has become the most deadly threat to America.
Abusive leverage backstopped on the American taxpayer is about as virulent as it gets. FRE and Fannie Mae in particular were Democrat creations that seem to have been designed to destroy the economy while paying Democrats taxpayer money.
The investment banks and the Fed are currently locked in a toxic symbiosis - toxic for taxpayers - which will not end until Congress changes hands, if it does even then. The banks will have to be weaned off 'free' credit or left to die.
I do blame major players in Wall Street: especially 'Government Sachs'. But GS et al didn't get indefinite free credit in a vacuum: they needed the Democrats.
Yes, though as long as it was only people who could afford it dumping their cash into kitchen and bathroom makeovers there was no crisis. Economic inefficiency, but no crisis. It was the bad loans that gave a particularly ill form to the bad Fed policy.
I agree. Home improvement and 2nd mortgages were never the problem. The Bank had the house for collateral and could see a history of payment.
She is playing it very smart- she is running against big government
not obama
(but everyone knows they are one and the same)
I hope she gets rich from speechmaking! And produces tons of quotable material. The RINOs’ heads will explode.
[Yes, let’s let Wall Street run unfettered. It’s worked so well so far.]
Unfettered means being allowed to fail. I see no evidence of any hands off approach by Bush and certainly not Obama.
They were indeed too big to fail. They should never have been allowed to get that big.
To: All
From Drudge:*************************************
Palin slams Obama's spending in debut Asian speech... [Breitbart.com]
Attacks Fed for Asset Bubbles... [Bloomberg]
Positioning herself as a libertarian? [New York Times]
'We're not interested in government fixes, we're interested in freedom'... [Wall Street Journal]
12 posted on Wednesday, September 23, 2009 6:52:42 AM by Ernest_at_the_Beach (Support Geert Wilders)
The problem is that too many in that group are quick to make alliances with the left on nebulous issues of fairness, bipartisanship, protecting the environment, fighting global warming and other nonsense. McCain and Huckabee are two prime examples of those who drift between the sane and the insane wing of economic populism. Worse than William Jennings Bryant, one of the founding fathers of that school, ever did.
Wow Jeff
True laissez-faire, free market Capitalism means that private business gets both the reward and risk of investing and speculating. A true free Market lets those who made mistakes fail. The tax-money cushion, the “bailouts” that you correctly identify as part of the problem, since they lure banks and speculants to do risky business, are corporate welfare and a deviation from true capitalism. Like a welfare recipient, bankers and speculants will gladly (if they overlook the political strings attached) fall back on the taxpayer cushion.
You correctly identify the problem, but I don’t think that the answer should be called “economic populism”. The answer is a true free market, where government does neither supress private initiative, nor bails them out. Both are the two sides of the etatist coin. Too many of the “populists” correctly see the bailouts as wrong, but fail to recognize that the opposite of the current state is indeed a more laissez-faire capitalism.
I’ve been reading some of the comments, and man, the haters are out in force. Of course, they are regurgitating all the anti-Palin bs that they can think of. One comment stated that none of Sarah and Todd Palin’s kid ever made it out of high school. Someone in there rightfully noted that her eldest daughter is in college. But man, are the libs frazzled.
They are also repeating the crap about her (Sarah) not writing her speech. Of course she did, it’s not like she’s 0. Sure, she had help from other people, but I do expect that she wrote most of it. Unbelievable!
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