Ben Stein Willing To Give Gov. Rick Perry An Economics Lesson
Ben Stein is worried about our economy, not at the present moment but more specifically if Texas Governor Rick Perry manages to win the GOP primary and eventually the Presidency, that’s why he hopped on the tube this week to offer the governor a lesson in economics.
According to Stein:
I was going to leave you alone for this month and just spend it on my boat up at Lake Pendoreille in North Idaho, a mountain lake where ospreys soar and where I feel at peace.
But Governor Rick Perry of Texas – possibly the nation’s next President – has shocked me out of my reverie.
Stein went on to add:
A few days ago, Governor Perry said in campaigning in Iowa that it would be something akin to “treason” for the head of the Federal Reserve Board, Professor Ben Bernanke, to “print” more money between now and Election Day. That, said Gov. Perry, would only reduce the purchasing power of Americans.
Now, I like Gov. Perry. I agree with him on almost every social issue. But may I respectfully offer him a lesson in economics?
Stein then explained that the recession started under Bush 43′s watch, while Bernanke is simply using “desperate measures” to push the economy in the right direction.
Stein then says the Feds are increasing the money supply which Perry calls “printing money” although Stein points out that it’s hardly a “treasonous” move as Perry calls it, in fact Stein says it’s not even clear whether printing money will actually cause inflation and that the hope is businesses will borrow more money if it’s cheaper.
Stein adds:
Frankly, once again, it has not worked so far. But it is an orthodox, classic move.
It is a move by a man, Ben Bernanke, who wants to help his country recover. To call Dr Bernanke – a patriot doing his best for his country – “treasonous” is a serious mistake.
Gov. Perry is new to national politics. But he’s in a way a star, and I can see him someday in the Oval Office. I hope he’ll get some moderation in his speech – and some lessons in economics … and soon.
Let’s be honest, the economy isn’t understood by anyone, if it was we could fix it overnight, have virtually no unemployment and go on our merry way, but I have to give it up to Ben Stein, he isn’t letting politicians like Rick Perry create soundbites that no one challenges regardless of how baseless they are.
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Aug 21, 2011
Rick Perry is just shocking that someone could utter such nonsense and be taken seriously. Has this person ever studied economics?
Aug 21, 2011
Sandy, Ben Stein was an earlier writer for both Richard Nixon and Gerald Ford (wrote a lot of their economics speeches), It also runs in the family, his dad Herbert Stein was an economist for Richard Nixon. He's also taught at various top-tier universities in the United States including Pepperdine, Stein also graduated with honors in Economic studies at Columbia University's Columbia College, then attended Yale Law School (graduated with honors again) after which he was working with the Federal Trade Commission as a trial lawyer for years, so yeah I would say he's had his fair share of economist experience…he also gives various economic speeches around the country to politicians, businesses and various other interested parties ….with that being said….let the "Win Ben Stein's Money" jokes start…..NOW!
Aug 21, 2011
Rick Perry did graduate from University too! Texas A&M with a 2.2 GPA in Animal Sciences.
Aug 21, 2011
James, I know he worked for Nixon and Ford and he is a Republican. I've always admired his political and economic philosophies and I loved his commentary this morning.
Oh really Perry? Instead of inciting anger by baseless, vitriolic attacks that don't make sense and are simply talking points to promote one's political aspirations, why not promise to build consensus by w-o-r-k-i-n-g t-o-g-e-t-h-e-r. Leaders seek solutions. Cowards cry wolf.
PS. Ben Stein is also a dog lover! He should be President.
2.2 GPA in Animal Sciences….I love it!!
Aug 21, 2011
Working together? What is this strange and foreign concept you speak of
Sorry your first sentence sounded like you were attacking Stein for bringing up some valid points. Although the White House's pets would be well cared for.
Aug 22, 2011
After Re-reading my post I realized it wasn't good diction…. You caught my drift!
Aug 22, 2011
Dear Ben Stein, If you feel the need to "school" someone in the subject of economics I ask that you please direct it at our current president…..he is screwing things up worse than George W……Who even thought that was possible?