During a talk at a South Carolina foreign policy forum, Newt floated some half cooked ideas about puting the dollar back on the Gold Standard.
I can imagine nothing to be more foolish at a time when the world economy is in the midst of a unprecedented financial crisis and where massive injections of liquidity have barely sufficed to soften the blow of multiple collapsing bubbles.
Newt also states that the Fed should forget Employment, and concentrate only upon Inflation. It was precisely the European Central Bank's preoccupation with Inflation that has led it to stymie the European economy!
What we need is more transparent and flexible markets, not extremely volatile markets (that benefit traders) nor currencies (like the Chinese) that are held artificially fast.
By floating this kind of retrograde nostalgia Newt is proving he is fit for the Kremlin, but not the White House.
I can imagine nothing to be more foolish at a time when the world economy is in the midst of a unprecedented financial crisis and where massive injections of liquidity have barely sufficed to soften the blow of multiple collapsing bubbles.
Newt also states that the Fed should forget Employment, and concentrate only upon Inflation. It was precisely the European Central Bank's preoccupation with Inflation that has led it to stymie the European economy!
What we need is more transparent and flexible markets, not extremely volatile markets (that benefit traders) nor currencies (like the Chinese) that are held artificially fast.
By floating this kind of retrograde nostalgia Newt is proving he is fit for the Kremlin, but not the White House.
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great post
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