Sarah Palin is bashing the Federal Reserve and its Chairman Ben Bernanke - bashing and not backing down - even when the facts prove her wrong. We're keeping them honest. Plus, Pres. Obama speaks to the Muslim world and more.
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(CNN) – A Wall Street Journal reporter is hitting back after former Alaska Gov. Sarah Palin took to Facebook to blast his criticism of her recent speech on U.S. monetary policy, saying Palin's "view is not supported by the facts."
The tiff began after economics reporter Sudeep Reddy criticized Palin's keynote speech at the Specialty Tools & Fasteners Distributors Association (STAFDA) trade show in Phoenix on Monday in a post on the Wall Street Journal's 'Real Time Economics' blog.
In her remarks, Palin blasted the Federal Reserve's decision to buy $600 billion in long-term U.S. Treasury bonds over the next eight months – a policy known as quantitative easing – in order to help jumpstart economic recovery. The move, Palin said, "deeply concern[s] her."
"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. And it's not just groceries," Palin said in her remarks.
"Maybe it's time for Chairman Bernanke to cease and desist. We don't want temporary, artificial economic growth bought at the expense of permanently higher inflation which will erode the value of our incomes and our savings," Palin continued.
But in a post entitled, "Sarah Palin's QE2 Criticism Includes Inflation Hyperbole," Reddy took issue with Palin's analysis, saying, "Grocery prices haven't risen all that significantly, in fact. The consumer price index's measure of food and beverages for the first nine months of this year showed average annual inflation of less than 0.6%, the slowest pace on record (since the Labor Department started keeping this measure in 1968)."
Reddy's criticism prompted a harsh rebuttal from Palin in a Facebook post "Do Wall Street Journal Reporters Read the Wall Street Journal?"
Ready for today's Beat 360°? Everyday we post a picture you provide the caption and our staff will join in too. Tune in tonight at 10pm to see if you are our favorite! Here is the 'Beat 360°' pic:
Former President George W. Bush waves while signing copies of his new memoir "Decision Points" at Borders Books on November 9, 2010 in Dallas, Texas. (Photo credit: Tom Pennington/Getty Images)
Have fun with it. We're looking forward to your captions! Make sure to include your name, city, state (or country) so we can post your comment.
Update: Beat 360° Winners:
Robert, Palm Desert, CA
“Hey, guy...you there...no shoe throwing...”
(CNN) - A New Hampshire teenager accused of killing a woman and severely injuring her daughter during a brutal home invasion was found guilty Tuesday of first degree murder and attempted murder and sentenced to life in prison without the possibility of parole.
Steven Spader sat emotionless as the verdict was read in the trial for the gruesome murder of Kimberly Cates in Mont Vernon, New Hampshire, last year.
Spader, 19, was convicted of breaking into Cates' home and hacking her to death with a machete, while his friend, 19-year-old Christopher Gribble, repeatedly stabbed her 11-year-old daughter Jaimie as she tried to defend her mother.
"I could go on for days about the depth of your depravity," said Judge Gillian Abramson. "It is sufficient to say, you belong in a cage."
Program Note: CNN Heroes received more than ten thousand nominations from 100 countries.. A Blue Ribbon Panel selected the Top 10 CNN Heroes for the year. Voting for the CNN Hero of the Year continues through November 18th (6am ET) at CNNHeroes.com
Nominated Evans Wadongo | HIS STORY
I met Evans [at university]; he was my classmate. His creativity and dedication to eradicating poverty in Kenya has been an inspiration to me and all his friends. He started a project called 'Use Solar, Save Lives', which involves making and distributing solar powered Lanterns to poor rural households.
Evans grew up in a rural household where he had no access to electricity. Lack of lighting was a big problem in his education since he was unable to study or do home work.
Washington (CNN) – Rep. Darrell Issa (R-California), the next chairman of the House Oversight and Government Reform Committee, is walking back remarks he made on conservative radio host Rush Limbaugh's show last month in which he called President Obama "one of the most corrupt presidents in modern times."
In an interview with CNN lead political anchor Wolf Blitzer on the Situation Room, Issa initially said, 'It was a campaign and I make no bones about it – if I had to do it over again I'd have parsed my words a little more carefully."
But he defended his use of the word corrupt, saying, "When you hand a president nearly a trillion dollars in walking around money, he uses it for political paybacks, that's corrupt."
Pressed on the point, Issa said, "Do I think the president is personally corrupt, no, I should never have implied that or created that in a quick statement on a radio call-in."
During the interview, Issa also called for bipartisan cooperation and insisted that his leadership of the Government Reform committee would not be a witch-hunt for members of previous administrations, but rather a way to improve the function of government.
Tom Foreman | BIO
Reporter's Note: President Obama continues to travel. Note to self: Swing by White House to water lawn while he’s away.
Dear Mr. President,
So Mayor Michael Bloomberg up in New York tossed this cherry bomb into the bonfire while you’ve been away; he said some of the new members of Congress “can’t read.” If that’s true, the good news is they won’t be insulted when they see it in the newspaper. The bad news is nothing else in the paper will trouble them either, if you get my point.
Of course Hizzoner was speaking figuratively. At least I hope so. He was making the point that too many people are running for and winning public office on a platform of what might best be called willful ignorance. “I don’t know how government works. I don’t understand economics. I have no appreciation for the intricacies of policy or the give and take of negotiation. I believe in the principles espoused by the Founding Fathers although I’ve never read their biographies, let alone their published letters. So that’s about it. Vote for me!”