WSJ on Gov Sarah Palin: Sound Political & Economic Instincts, Sophisticated Knowledge

[Trajan]

did you read the article? In full? are you arguing what she said or? If so what is wrong with what she said?They outlined what they agreed with, do you disagree?

 

[Dr Grump]

Who owns the WSJ?

ME!

 

[Trajan]

Food prices aren't rising. Palin got this information by misunderstanding a WSJ article that said the cost of goods was rising for stores, but the point of the article was that prices for consumers had surprisingly low increases. Even below average.

yea and they will pass along the costs...they are just figuring out how..but they are going up, there is no doubt.


Food Sellers Grit Teeth, Raise Prices
Packagers and Supermarkets Pressured to Pass Along Rising Costs, Even as Consumers Pinch Pennies


An inflationary tide is beginning to ripple through America's supermarkets and restaurants, threatening to end the tamest year of food pricing in nearly two decades.


Prices of staples including milk, beef, coffee, cocoa and sugar have risen sharply in recent months. And food makers and retailers including McDonald's Corp., Kellogg Co. and Kroger Co. have begun to signal that they'll try to make consumers shoulder more of the higher costs for ingredients.

For food executives, how quickly to pass along higher costs presents difficult choices. Missteps could be costly when the economy remains weak. Many Americans, nervous about high unemployment, have pledged allegiance to their pennies and are willing to trade down on brands, switch supermarkets, opt for Burger King over Applebee's, or stop dining out altogether to save money.

snip-

Food prices are rising faster than overall inflation. The consumer price index for all items minus food and energy rose 0.8% over the year to September, the lowest 12-month increase since March 1961, the Bureau of Labor Statistics said. The food index rose 1.4%, however. The U.S. Agricultural Department is predicting overall food inflation of about 2% to 3% next year.

.

rest at-

Food Companies Warily Try to Pass Along Higher Costs - WSJ.com

 

[USArmyRetired]

Palin is right again as usual.

 

[Trajan]

Yeah, but what does Keith Olberman say?

Sarah is the worst person in the world.

links please?

Now, answer this: Who owns the WSJ?

and I am sure he writes financial opeds...why don't you try something novel, like, making your case, what did she say is wrong or that you don't agree with? exactly.

 

[antagon]

did you read the article? In full?

yeah. the wsj op-ed, not the blog.

are you arguing what she said or? If so what is wrong with what she said?

"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 former GOP Vice Presidential nominee said. "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."

i dont think that her prescription is quite the only way. those whose livelihoods are hung on assets in the grip of deflation like the most depressed ones in our economy might not be impressed with her prognosis of inflation. im not impressed.

i dont think 'permanent' is indicated.

zoellick says...

"The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values."

making him an idiot in my opinion.

palin's comments just differ from my view, but they don't strike me as fundamentally stupid like zoellick's.

They outlined what they agreed with, do you disagree?

i doubt these folks would want to agree if they met. too radical an association for each with regard to credibility into the future. i've got no qualm with the link-up. it's not significant. just some quotes.

id agree here with the caveat that its also if not mainly about lending on the domestic market in lieu of a spent-out fiscal recourse:

If this isn't a plea for a weaker dollar in the name of balancing trade flows, what is it? The world knows the Fed can always win such a currency race to the bottom in the short run because it can print an unlimited supply of dollars. But the risks of currency war and economic instability are enormous.

 

[Trajan]

thank you...I agree that 'permanently' is iffy but its not a stretch to allude that this could spin out of control. the aim of course it nudge inflation up a bit, lowering bond yields and at the same time he is going to raise commodities prices as we see and this also equals lower profit margins. This also doesn't help lending, lending is a long term game, and I thought promoting bus.was a focus of the admin..?

I agree the gold standard is dead..I don't know what hes thinking...

 

[antagon]

thank you...I agree that 'permanently' is iffy but its not a stretch to allude that this could spin out of control. the aim of course it nudge inflation up a bit, lowering bond yields and at the same time he is going to raise commodities prices as we see and this also equals lower profit margins. This also doesn't help lending, lending is a long term game, and I thought promoting bus.was a focus of the admin..?

I agree the gold standard is dead..I don't know what hes thinking...

i think the fed is hoping to act in lieu of the treasury. their monetarist slant probably demurs whatever the government might try to do with stimulus in their view, moreover, the political climate is all about pulling the brakes, rather than shelling out cash.

it is not attached to policy, so it can't do anything with lending directly (and by extension the poor demand/deflation in the property mkt). its like telling banks 'here, take this couple grand. now, put your hand back on the burner that just scalded you.'

somehow they're puzzled the banks float the liquid elsewhere and say no thanks.

 

[BlindBoo]

Food prices aren't rising. Palin got this information by misunderstanding a WSJ article that said the cost of goods was rising for stores, but the point of the article was that prices for consumers had surprisingly low increases. Even below average.

OTOH - fuck quantitative easing. If we are going to be spending all that money it needs to go to the real middle class, not bankers, who are doing great and still not lending. Corporations are also doing fine and have huge cash reserves and still aren't expanding.

Meanwhile, the government won't pay to restructure mortgages, or even investigate fraudulent lenders or fraudulent foreclosures seriously.

Sarah Palin Shreds WSJ Reporter For Not Being Able To Read His Own Paper

Sarah Palin Shreds WSJ Reporter For Not Being Able To Read His Own Paper:

From Her Facebook

Ever since 2008, people seem inordinately interested in my reading habits. Among various newspapers, magazines, and local Alaskan papers, I read the Wall Street Journal.

So, imagine my dismay when I read an article by Sudeep Reddy in today’s Wall Street Journal criticizing the fact that I mentioned inflation in my comments about QE2 in a speech this morning before a trade-association. Here’s what I said: “everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so. Pump priming would push them even higher.”

Mr. Reddy takes aim at this. He writes: “Grocery prices haven’t risen all that significantly, in fact.” Really? That’s odd, because just last Thursday, November 4, I read an article in Mr. Reddy’s own Wall Street Journal titled “Food Sellers Grit Teeth, Raise Prices: Packagers and Supermarkets Pressured to Pass Along Rising Costs, Even as Consumers Pinch Pennies.”(continued in link above)

Typical, take a snipit then claim it mean something else. Forget about her Sarge, she's a ditz.

Reddy pointed out that the sentence Palin quoted actually said, "An inflationary tide is beginning to ripple through America's supermarkets and restaurants, threatening to end the tamest year of food pricing in nearly two decades."

"It does indeed report that supermarkets and restaurants are facing cost pressures that could push their retail prices higher – but it hasn't happened yet on a large scale," Reddy said. "

TRENDING: War of words between Palin and the Wall Street Journal – CNN Political Ticker - CNN.com Blogs

 

[USArmyRetired]

Food prices aren't rising. Palin got this information by misunderstanding a WSJ article that said the cost of goods was rising for stores, but the point of the article was that prices for consumers had surprisingly low increases. Even below average.

OTOH - fuck quantitative easing. If we are going to be spending all that money it needs to go to the real middle class, not bankers, who are doing great and still not lending. Corporations are also doing fine and have huge cash reserves and still aren't expanding.

Meanwhile, the government won't pay to restructure mortgages, or even investigate fraudulent lenders or fraudulent foreclosures seriously.

Sarah Palin Shreds WSJ Reporter For Not Being Able To Read His Own Paper

Sarah Palin Shreds WSJ Reporter For Not Being Able To Read His Own Paper:

From Her Facebook

Ever since 2008, people seem inordinately interested in my reading habits. Among various newspapers, magazines, and local Alaskan papers, I read the Wall Street Journal.

So, imagine my dismay when I read an article by Sudeep Reddy in today’s Wall Street Journal criticizing the fact that I mentioned inflation in my comments about QE2 in a speech this morning before a trade-association. Here’s what I said: “everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so. Pump priming would push them even higher.”

Mr. Reddy takes aim at this. He writes: “Grocery prices haven’t risen all that significantly, in fact.” Really? That’s odd, because just last Thursday, November 4, I read an article in Mr. Reddy’s own Wall Street Journal titled “Food Sellers Grit Teeth, Raise Prices: Packagers and Supermarkets Pressured to Pass Along Rising Costs, Even as Consumers Pinch Pennies.”(continued in link above)

Typical, take a snipit then claim it mean something else. Forget about her Sarge, she's a ditz.

Reddy pointed out that the sentence Palin quoted actually said, "An inflationary tide is beginning to ripple through America's supermarkets and restaurants, threatening to end the tamest year of food pricing in nearly two decades."

"It does indeed report that supermarkets and restaurants are facing cost pressures that could push their retail prices higher – but it hasn't happened yet on a large scale," Reddy said. "

TRENDING: War of words between Palin and the Wall Street Journal – CNN Political Ticker - CNN.com Blogs

But prices has risen and that makes her right. Uh, wasn't Palin's quote: "everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so..."
The response by the WSJ reporter was that the increase was not actually significant. Who is misquoting? So is the article poorly written or all over the board? If so, then that reflects on the WSJ. Or did Ms. Palin take what the article gives and correctly make a point about rising food over the last year or so regardless of what the first paragraph of the article states and what Mr. Sudeep likes to ONLY point out?

 

[jimbetty123]

SaraH palin Present report:-

Hello Iowa (From Phoenix)
It would be hard to find two more unlikely intellectual comrades than Robert Zoellick, the World Bank technocrat, and Sarah Palin, the populist conservative politician. But in separate interventions yesterday, the pair roiled the global monetary debate in complementary and timely fashion.
The former Alaskan Governor showed sound political and economic instincts by inveighing forcefully against the Federal Reserve's latest round of quantitative easing. According to the prepared text of remarks that she released to National Review online, Mrs. Palin also exhibited a more sophisticated knowledge of monetary policy than any major Republican this side of Wisconsin Representative Paul Ryan.
Stressing the risks of Fed "pump priming," Mrs. Palin zeroed in on the connection between a "weak dollar—a direct result of the Fed's decision to dump more dollars onto the market"—and rising oil and food prices. She also noted the rising world alarm about the Fed's actions, which by now includes blunt comments by Germany, Brazil, China and most of Asia, among many others.
"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 former GOP Vice Presidential nominee said. "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."
Mrs. Palin's remarks may have the beneficial effect of bringing the dollar back to the center of the American political debate, not to mention of the GOP economic platform. Republican economic reformers of the 1970s and 1980s—especially Ronald Reagan and Jack Kemp—understood the importance of stable money to U.S. prosperity. […]
Misguided monetary policy can ruin an Administration as thoroughly as higher taxes and destructive regulation, and the new GOP majority in the House and especially the next GOP President need to be alert to the dangers. Mrs. Palin is way ahead of her potential Presidential competitors on this policy point, and she shows a talent for putting a technical subject in language that average Americans can understand […]

In their different ways, Mrs. Palin and Mr. Zoellick are offering a better policy path: More careful monetary policy in the U.S., and more U.S. leadership abroad with a goal of greater monetary cooperation and less volatile exchange rates

 

[ConservativeDad]

Yeah, but what does Keith Olberman say?

[ame]http://www.youtube.com/watch?v=lb-KiN-Woao&feature=player_embedded[/ame]

 

[topspin]

I bet no rich people are praising Sarah's economic IQ.

 

[antagon]

i'd think her ideas would sit well with non-investor savers. many of them could be wealthy.

her audience is generally people too stupid to know where they stand without being told, is what i image.

 

[topspin]

what democrats are going to do is thinking we need an Ivy league snob to be president. They may set a trap that they catch themselves in.

 

[antagon]

intelligent leadership is a better trap than idiot leadership, history shows.

 

[BlindBoo]

Sarah Palin Shreds WSJ Reporter For Not Being Able To Read His Own Paper

Sarah Palin Shreds WSJ Reporter For Not Being Able To Read His Own Paper:

From Her Facebook

Ever since 2008, people seem inordinately interested in my reading habits. Among various newspapers, magazines, and local Alaskan papers, I read the Wall Street Journal.

So, imagine my dismay when I read an article by Sudeep Reddy in today’s Wall Street Journal criticizing the fact that I mentioned inflation in my comments about QE2 in a speech this morning before a trade-association. Here’s what I said: “everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so. Pump priming would push them even higher.”

Mr. Reddy takes aim at this. He writes: “Grocery prices haven’t risen all that significantly, in fact.” Really? That’s odd, because just last Thursday, November 4, I read an article in Mr. Reddy’s own Wall Street Journal titled “Food Sellers Grit Teeth, Raise Prices: Packagers and Supermarkets Pressured to Pass Along Rising Costs, Even as Consumers Pinch Pennies.”(continued in link above)

Typical, take a snipit then claim it mean something else. Forget about her Sarge, she's a ditz.

Reddy pointed out that the sentence Palin quoted actually said, "An inflationary tide is beginning to ripple through America's supermarkets and restaurants, threatening to end the tamest year of food pricing in nearly two decades."

"It does indeed report that supermarkets and restaurants are facing cost pressures that could push their retail prices higher – but it hasn't happened yet on a large scale," Reddy said. "

TRENDING: War of words between Palin and the Wall Street Journal – CNN Political Ticker - CNN.com Blogs

But prices has risen and that makes her right. Uh, wasn't Palin's quote: "everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so..."
The response by the WSJ reporter was that the increase was not actually significant. Who is misquoting? So is the article poorly written or all over the board? If so, then that reflects on the WSJ. Or did Ms. Palin take what the article gives and correctly make a point about rising food over the last year or so regardless of what the first paragraph of the article states and what Mr. Sudeep likes to ONLY point out?

Nope prices have remained steady for about two year now.

She specifically stated that coffee had risen 40%. Simply not true. She got caught quoting half a sentence and then adding her nonsense to it to frighten her followers.