Posted on 10/24/2005 9:22:14 AM PDT by no dems
President Bush to nominate Ben Bernanke, his top economic adviser, to succeed Federal Reserve Chairman Alan Greenspan, CNN confirms.
(Excerpt) Read more at CNN.com ...
LOL!!!!! Hopefully, he's not going to give Bush the Aunt Jemima treatment... : )
It's past time for him to be put out to pasture... his latest interest rate increases over the increased price of fuel and inflation from fuel increases escapes me... if there was upward pressure on wages due to inflation then I would understand his moves.... hope this guy is an improvement.
Oh well...
By John Tamny
Last Friday’s Wall Street Journal reported that Larry Lindsey has been added to President Bush’s short list of potential replacements for Alan Greenspan at the Federal Reserve. Martin Feldstein, Glenn Hubbard, and Ben Bernanke are the other three most prominently mentioned, with Bernanke the frontrunner on Tradesports.com.
Bernanke recently weighed in with his opinions on the economy in the Journal, and while he lauded tax cuts, free trade, and legal reform, a supply-sider he is not. His views on how tax cuts impact the economy, his odd interest in demand charts, and not to mention his discredited beliefs about “limits” to growth and “full” employment, should have Bush supporters concerned.
About taxes, Bernanke spoke of “fiscal stimulus” that has diminished “in the past few quarters.” Bernanke is clearly in the Keynesian camp on taxes, holding that they should be reduced during times of slack demand and increased when economic growth reaches its natural “limits.” While Keynesians see tax cuts through a demand-driven, short-term stimulus prism in which their impact gradually recedes, supply-siders encourage marginal rate cuts for their long-term (and continuous) incentive effects on economic activity. The distinction between the two schools of thought is crucial, particularly given the growing influence of the Fed on Capitol Hill.
Moving to the economic impact of demand, Bernanke asked how much demand in the latest quarter “appears to have been satisfied out of inventories rather than from new production.” But supply-siders don’t even consider this — they don’t because they know that products are ultimately bought with other products. “Demand” will always exist, as human wants are unlimited. But what Bernanke deems “demand” is in fact producers offering up their surpluses for those of others. In the supply-side model, what Bernanke sees as a fall in aggregate demand is in fact a fall in production — something supply-siders agree results from governmental meddling along the lines of excessive taxation, regulation, and unstable money.
Read the rest here
Jeez, I responded to that without even looking to see if anyone else caught on.... Not one person, holy cow! Or maybe they did, and we're much more immature?? That's probably it... : )
You get a lot more with constructive criticism than you do with joining the enemy and attacking.
The GOP has controlled both houses of Congress since '95.
(except for a couple weeks in Jan '01 when Algore had the tiebreaking vote in the Senate.)
Anyway, the GOP lost all fiscal responsibility and Dubya has had a blank check ever since the very first day he was in office.
I would venture to say that the majority of Bush bashers were never supportive of the man in the first place, and that whatever Bush does, they're all too accommodating in their vitriolic spew.
The DU tag is getting a little stale. Thought predates DU so the name calling is especially silly.
"Please explain how that is possible. Those are opposing forces."
Worked for Greenspan. Ask him.
"Must be one of Condi's cronies."
Oh please. Some of you people need to grow up.
Bernanke is a good pick, yet there were a dozen bashers on this thread making fun of the President in TOTAL ignorance, and thinking that they were clever in doing so. Relishing in their derision of a man who has done more for their safety and well-being than perhaps anyone in their lifetime.
These people are in total agreement with the left about the qualifications and quality of this President, and yet they brag about their conservatism.
There is a war going on for the soul of America, Clancy...........and it's not hard to see which side some of these folks are on.
"...just saying that the people doing this criticism are "disloyal" and "trying to tear down one of our own"?
Hmmmmmm. I don't believe I've ever said that.
Don't interfere with the Bush-hater's fun with those little things called FACTS, mware.
University of Chicago?
"Afterall - I am not naive enough to expect perfection or Superman."
I, apparently, am naive enough to expect George W. Bush to be politically conservative, not just a redux of George H. W. Bush. He's looking more and more like his father's son every day.
"Oh, and BTW, the Astros suck."
Yeah, they suck so bad they're in the World Series.
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