John Ransom
I've been saying for several years that if all we get out of a bunch Harvard trained politicians is massive debt and no jobs, we ought to turn the economy over to a few  graduates of smaller, lesser known schools.
I mean, just exactly how much education does it take to screw up the economy this badly?

Maybe we should try a few pounds less education and an ounce more common sense.

Sarah Palin lacks the elite-school pedigree that seems to be habitual for people who know better than the rest of us.

What she has though, is a lot of common sense.

The New York Sun pointed this out over the weekend. 

"The big question as Chairman Bernanke [a Harvard graduate] gets set for his first quarterly press conference," wrote the Sun on its editorial page on Sunday, "is how Sarah Palin was able to figure out sooner than everyone else that the Federal Reserve’s campaign of quantitative easing wouldn’t work."

Not content to leave it at that, the Sun twisted the knife a bit with specifics:

“'We don’t want temporary, artificial economic growth brought at the expense of permanently higher inflation which will erode the value of our incomes and our savings,' the [Wall Street] Journal quoted Mrs. Palin as saying. 'We want a stable dollar combined with real economic reform. It's the only way we can get our economy back on the right track.' Now here is the New York Times quoting a raft of economists who have reached the conclusion that Mrs. Palin’s warning was right down the line."

Let's call quantitative easing what it was: A gamble by the Obama adminstration  using money on another stimulus program that Congress wouldn't give him in order to save/create one job- his own.  

"Sarah for the Fed?" the Sun asks.

Why not?  

We have done worse.

See Also
Bob Beauprez: Obama's "Social Compact" Should Include a Job
Mike Shedlock: The City that Outsourced Everything

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John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.