Potential Romney Fed Chairman: Wants to implement a -10 % interest rate by invalidating currency with a certain ending digit.Submitted by LeftThinkingRight on Wed, 08/29/2012 - 17:04
Headline Regarding Romney Potential Fed Chair Nominee...
If You're Not Convinced That Romney Can Save The Economy, Look Who He Might Pick For Fed Chair
Joe Weisenthal | Aug. 28, 2012 |
Greg Mankiw as Chairman of Bush's Council of Economic Advisors
While the rest of the world deteriorates, the U.S. remains a pillar of economic strength.
And the reason for this, believe it or not, is the massive deficits that have been run by DC, replenishing the private sector with cash. Despite incredible gridlock, and a party that's been devoted to cutting spending, the fact of the matter is that the U.S. has not embraced the austerity wave that's gripped much of the world.
The economy is still fragile, and we need these deficits to continue, which is one reason to think that Mitt Romney would be the better candidate for the economy.
He's pretty much given up on any pretense of balancing the budget while offering broad tax cuts. What's more, a Romney White House would make the Congressional GOP forget about cutting spending, and revert to their old ways under Bush (austerity is purely an out-of-power concept).
But that's not the only reason to like Romney!
Dylan Matthews at The Washington Post's Wonkblog looks at the three frontrunners to replace Ben Bernanke as Fed chair (Romney said last week that he won't renominate Bernanke).
One of the names is Greg Mankiw, the well-known Harvard economist who is one of Mitt Romney's main economic advisors.
As Matthews explains, Mankiw has advocated policies that would make Bernanke blush.