When the black guy was in office, QE BAD!
Now QE is good.
And to think there are tards in another topic as we speak who are claiming the Right doesn't like big government.
Few condemned Obama when he was doing it. This goes both ways.
Except the right condemned monetary policies throughout Obama's terms, and - guess who! -
Ryan, their monetary guru, led the charge:
The Fed has no business cheapening the nation's currency, Ryan says, even if a weaker dollar might provide a short-term elixir for struggling industries in his southeastern Wisconsin district by making American exports less expensive overseas while increasing the prices of imports sold in the United States.
"There is nothing more insidious that a government can do to its people than to debase its currency," Ryan said.
Just as harmful, Ryan warns, is that the proliferation of newly printed dollars inevitably unleashes inflation and throws the economy out of kilter in other ways.
"Inflation is a killer of wealth. It wipes out the middle class. It eviscerates the standard of living for people who have retired or are living on fixed incomes," he said. "Name me a nation in history that has prospered by devaluing its currency."
As the incoming chairman of the powerful House Budget Committee, Ryan's blasts carry newfound weight. And he's hardly alone in his castigations; the past week's unrelenting attacks on the Fed mark an unusual turn in the economic debate.
Critics of the Fed's stimulus plan range from German and Chinese government officials to former Fed Chairman Alan Greenspan. The reserve bank, which was conceived as a powerful and politically autonomous institution, rarely finds itself so intensely on the defensive.
Inflation!!! Debasing the almighty dollar!!! Wiping out the middle class!!! Eviscerating the standard of living!!! Killing wealth!!!
How quickly we forget, and pretend it never, ever happened.
