War of words between Palin and the Wall Street Journal
Alison Harding
CNN
(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?"
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Filed under: 360° Radar • Sarah Palin |
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Hey guys Sarah Palin bearly graduated from College as a Journalist, I understood. However even if that's wrong it certainly was not an economics degree BSC or Masters.
She has no idea what Quantitive easing means or what it is designed to do and says:- Simply "deeply concerned" but not why because she cannot.
Now what that means is she ( had not the faintest idea of its purpose) and has not had the sense to get some economist who might agree with her to explain why... problem with that is 85 % of Americans would not have a clue what he the expert said or meant = no impact.
What she was saying to voters 99% of whom are not economists ( and dont want to be) hey this big government ( fear politics) just blew another $600bn of your money. Thats BS.
Problem is that it will resonate with Joe six pack, but is as the journalist says totally wrong!!
Time, CNN if you are " keeping them Honest " not to describe this as a tiff but what it is a major faux pas and misrepresebntation by Palin.
How can you support (or keep her in the frame even). This idiot as a runner for the Republican Presidency!? America would be a global laughing stock if she did get elected!!
Fortunately Voters are not that stupid!!
Regards,
Hodgson.
im a econ senior and we learned in econ 101 that the CPI is flawed and not to use it for anything. the wsj blogger should have known better to argue with it, if sara palin knew she could have used that fact to argue...and cooper anderson could have proven both wall street and politicians wrong by pointing out thier spread of imperfect information to the general public...the life blood of all 3 careers i suppose..its a shame that a good opp for cooper to educate the general public about the cpi and why its flawed and why economists dont use it!
i was a bit dissaponted to see cooper anderson pass up an oppurtunity to keep both parties mentioned honest. as an econ student i know from econ 101 that the CPI is not accurate, there are problems with it (its biased and limited to name a couple). it would have been the perfect oppurtunity for ecucating the general public about economics. if palin would have known better she could have easily used that fact to defend herself. you see, wallstreet depends on the public having imperfect information, sadly cooper anderson has perpetuated this. shame on all 3. the wallstreet journal blogger knows he can use imperfect data and not be challenged by the general public...he should know the CPI is not used for real analysis.
I agree Mr Cooper that we should all say hay I made a mistake and move, I`ve heard you say it and I have heard Pres. OBAMA say it when he made a mistake ,and it was one of the biggest lessons that I learned growing up. Miss Palin remember the bible says that pride cometh before the fall.
As an Alaskan, I am frightened for our country. All Sarah Palin does is criticize without alternative solutions. She did nothing for the state of Alaska and then quit because, as she told us, she was tired of the media attacks on her family. What a joke. When she ran for governor she promised we would have a gas pipeline. Where is it?
President Obama has been in office for two years! The problems were there before him, they were there before Bush, etc, etc. This guy is being vilified so that the republicans have a scapegoat. I am a republican and am furious with the way they are conducting themselves. They want nothing but power.
Sarah Palin is so wrong about a lot of things and it just amazes me on how many stupid hicks actually follow her around and believe her every word. But everyone forgets that she quit her governor job to make more money so shes no better then the feds anyway.
I think it's amazing how Cnn (Anderson), how you want to be fair & balanced now. But when we had to vote for the House & Senate people nope on Cnn was talking about the nut jobs before they got voted in. So why Anderson why tell us anything stupid that Sarah Palin, or any other dumby from the Tea Party is saying or has done. You should have exposed these idiots awhile ago.
@the 'specialist', I mean the panelist that you had on your program – 'Kingmaker' is a word that goes against American values. There is no kingmaker in America. If there is one, then s(he) runs for 'king'. Unless you are talking about all the so called (political) pundits – 99% of them would be a happy camper running for office rather than doing the 'punditry' if they could have.
Palin tried to change the article to suit her needs- a true politician. Now she has been caught, she will not comment further and hope it goes away...and find something else about the lamestream media to find fault with.
If she admitted her mistake she would win more votes than she could ever imagine...
AC Anderson typically over hypes his topics, making them so much bigger than fair.
First, he calls Sarah Palin: "Miss Palin". She is married and deserves the proper title–"Mrs.". Moreover, she should be addressed as not "Miss" even in the first place, but Governor Palin.
Next, it was certainly fair game whether or not the Federal Reserve should be printing up money and buying US treasuries and mortgage bonds, which many experts say will lead to inflation–severe inflation for that matter.
Anyone knowledgeable of the commodity markets, knows that for a long time now we are seeing higher prices for many food stuffs, such as corn, wheat, coffee, sugar, soybeans, etc. Also, cotton is at the highest price in decades. Also, metals: Gold, Silver, Copper, have been escalating greatly.
Governor Palin is correct that inflation will be aggravated by the Federal Reserves QE policy. You have seen the inflation in milk, dairy, meats, and various kinds of produce. We can all expect that to increase.
I happened to catch a small portion of your show twice this week and was surprised at the prime attention you afford to Sarah Palin over what seems such trivial matters. I thought in both shows even your guest commentators ridiculed you. To me you came across like the child who had their toys taken away. Cant we report on news a little less blatantly biased?
Palin doesn't talk down as far as Obama talks down from the President's position against anyone on Fox News.
Palin does not have a a bunch of sheep following her; not like Obama had CNN and every Liberal news channel following him WITHOUT questioning all of his lies and qualifications to be president.
The Democrats discriminate against their own women.
Hillary Clinton was far more qualified than Obama which is why I am NO LONGER a DEMOCRAT but a follower of Palin.
Look at the Liberal attacks on conservative women. What's up with that????
Even that CNN's Spitzer talk show host, lyingly said that Palin said: she can see Russia from Alaska.
His anchor partner, Parker, corrected him by saying Tina Fey said it, not Palin:
Spitzer still put that LIE out there on the air knowing lots of liberal airheads will believe it. I just STOP watching CNN. It's Fluff airhead reporting.
I only watch CNN a few minutes a day to see if they will Ever get back any CREDITABILITY.......
Sara Palin reminds me the Venezuelan President Hugo Chávez. They both show an extreme narcissism and ignorance. But the media loves them. Be careful!
Sarah has a problem with facts and she proves my point by "selective editing" to support her arguement. Selective editing is not honest!
I normally don't watch your program, after tonight I see why. The one you should set straight is yourself. I just came from the grocery store and if you think prices have not gone up you don't know what you are talking about.
The major issue of this article has been missed. Many politicians including and especially Sarah Palin distort or deliberately mis-state the facts in an effort to attract attention to themselves. By not awknowledging that she got a fact wrong and taking the opportunity to more clearly state her position she attacks the reporter and the media community in general. It is her strategy, avoid the facts and get attention. She offers nothing.
CNN'a coverage fails to do much more than add heat; it certainly sheds little light on the important questions surrounding the recent Fed activities of Quantitative Easing.
I would pass out if Anderson and company actually sponsored a panel highlighting what the Fed was trying to do, then the pros and cons associated of this. Instead, as always, you choose to focus on the "politics." The stakes for this country are enormous. I personally fear that we are headed for a double-dip recession, or acceptance of a country marked by a few rich (1%)controlling 24% or so of our wealth, while our effective poverty rate moves up close to 16-17%...
CNN - you have a huge viewship; focus on informing and educating, and not just adding hear
Anderson,
You are a Palin bully. You pick on her. She made a fair and honest observation about a running our currency into the ground and you go out of your way to pick on her. We all know you will have enough money to pay for commodities, but many Americans will feel the pinch.
Well, it doesn't take an economics degree, and apparently this Wall Street Journal reporter does not own one, to realize that as commodity prices have gone up, as you said, merchants, restaurants, and retailers have bore the brunt of these rising costs. You point out that this has not affected the cost of groceries or food in restaurants for the most part. Any person with a good degree of deductive reasoning could come to ask, how long can these retailers continue to eat the difference, because that is who is taking a profit loss, to maintain costs that you pay for their goods. They can no doubt compensate for temporary fluctuations in commodity costs, but to a point, it will only be so long until they have to raise the price of their goods to compensate for a long term rise of commodities.
So to say Sarah Palin is wrong is disingenuous, when the reality is that in all probability what she said can quite possibly come to fruition, if commodity prices do not recede. Unless you know for a fact that commodity prices are going to come down, then truthfully you cannot say Sarah Palin is incorrect, and I don't think anyone foresees a serious drop in commodity prices.
Mrs. Palin does not hold any public office any where. The one she had she quit. Why are all of you giving her airtime. She has not committed to anything but making money for herself and her family. And the MEDIA continues to support her efforts. STOP Already. Enough on Palin. Please just try one day with no attention on someone who is not going to do anythibg but fill her pockets.
caribou barbie doesnt understand tha to recover from the las 5 years of deflation we must realize some inflation.on a hopefully cautionary basis. palin clearly has no grasp of finance or ebasicmacro economics & isunqualified to expresa judgement or opinion on the subject
This just goes to show that the federal government has another back door in getting into our pockets. Way to go Sara for bring it to light. We as regular joe public are blindsided more than what the government will admit too or wants us to know about. They, the government, will get what they want no matter what it will cost us.
Sarah Palin is STUPID...how many more "15 minutes of fame" are we going to give this woman?? Just the thought of her running for President of these United States is not merely ludicrous...it is frightening!!
@Catherine, I like you term: Blame Stream Media
Palin's "view is not supported by the facts." Sums up her entire political philosophy. The more she speaks/Tweets, the stupider she looks. Keep it up Quitter Palin!
It's amazing how taking part of a sentence can change the meaning of the quote; while all politicians do it they should quit using the scare tactics this represents and use actual facts within the context of how they were originally stated. Palin needs to read the WSJ closer to get the real meaning that is being conveyed.
Anderson, bloggers,
"We the People..."
Or have we forgotten?
We must balance our budget,
We must pay off the debt,
We must invest in Energy, Education, Technology and Infrastructure.
We must reinvigorate sense of shared destiny amongst our citizenry.
As Patrick Henry said,
"Gentelman.....
(ladies, minorities, gays, republicans, democrats, tea party, fill in your group here),
We must all hang together, lest surely we will all hang separately."
People Please. Make the cuts.
Do something.
my wife owns a reataurant and i help her with the financials. i can tell you first hand food and beverage prices have increased dramatically in the last couple of months. you tell me how far your dollar goes any more.