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Alan Draper

The Republican who reelected Obama

Bernanke’s treatment did not fully restore economic health, but problems eased. And when one compares how the U.S. economy has fared with others that suffered the same symptoms, the results are even more impressive. The U.S. avoided the staggering unemployment that afflicts Spain and Italy, and the dispiriting lack of growth that grips Britain and France. Its banks are in better shape than those in Germany and Japan. Despite having the smallest fiscal stimuli of any Western country, the U.S. economy boasts higher growth than almost all its rivals.

It is hard to imagine the electorate re-electing Obama without Bernanke’s aggressive use of monetary policy to spur spending and reduce unemployment. It is the reason why Obama was able to avoid the fate of other Western political leaders.

The financial crisis was like Superstorm Sandy, leveling governments and deposing the political executives voters held accountable. Obama was a rare survivor; his counterparts in Greece, Ireland, Spain, Portugal, the Netherlands and Denmark all went down with the ship.

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Didn’t we already have another stupid headline about this idea already? People can try and sell this crap sandwich all they want, but that does not change the fact that 8 million fewer people minimum showed up to vote this election. Romney failed to energize voters, end of story.

NotCoach on November 8, 2012 at 8:34 PM

You must ingest LSD at least 45 minutes before reading this electric kool-aid.

tom daschle concerned on November 8, 2012 at 8:35 PM

Ben Bernanke may call himself a Republican, but then I can call myself a 6’7″, 376# linebacker for the NYG that can run a 4-flat-40 in a pair of Louboutins or we could just admit the truth:

He’s a Keynesian Monetarist, which would make Milton Friedman slit his own throat if he weren’t already dead and the closest that I could ever come to becoming part of the NYG is marrying the owner or a player while wearing a to-die-for Fashionista ensemble.

Resist We Much on November 8, 2012 at 8:39 PM

I thought this would be a story about Fat Assed Chris Christy.

By the way … is Christy going to have an abortion now that he’s pregnant with Obama’s child?

HondaV65 on November 8, 2012 at 8:39 PM

Republican elites elected Obama.

If Mitt Romney really believes in America–and I think he does–he will get together with Sarah Palin, Rush Limbaugh, Dennis Miller, et al. and hammer out a solidly conservative platform for a third party.

They could have it done in time for the 2014 House and Senate races; most certainly they can do it by 2016.

Mr. Romney, are you truly conservative? If you would do this, thereby making it clear that you have committed yourself to solidly conservative ideology, I would vote for you again. If you cannot, then stand down and support the person who would lead such a party.

It is time for a third party. A party that has as its leaders strong people who will not capitulate to the leftists whose goal is to destroy America.

Leaders without egos; who can withstand the assault of a media who will attempt to crucify their reputations.

Leaders who will stand up to a ideologically corrupt Supreme Court; passing laws over and over again until the SC understands that the people want a moral society built upon the rule of law: the Constitution of the United State as the framers intended it, not some postmodern fantasia of shifting “fairness.”

Leaders who care not one whit about a body of nations infiltrated by third world dictators and Godless superpowers that think they can dictate to the sovereign United States of America and its citizens how to conduct our affairs.

Where are you leaders who can lead from the front? Who can make America what she needs to be, for her citizens and for the world.

(Faux libertarians need not apply.)

davidk on November 8, 2012 at 11:07 AM

I would add: Leaders who support and enforce the Tenth Amendment: http://tenthamendmentcenter.com/

davidk on November 8, 2012 at 8:40 PM

OH MY GOD – There is no way that anyone is dumb enough to believe this crapola.

Pork-Chop on November 8, 2012 at 8:40 PM

i don’t know if Bernake calls himself a R or not. Bush appointed him..so that’s this guys point

and the Fed openly brags about creating 2M jobs. so why do we need barry?

(a cagey R candidate could have taken this on…but risky)

r keller on November 8, 2012 at 8:43 PM

O/T: But in the past 48 hrs., 45 companies have announced layoffs. Pepsi is cutting 4,000 jobs. Energizer is cutting a full 10% of its workforce and shutting down plants in Missouri & Vermont.

topdawg on November 8, 2012 at 8:43 PM

I’m not sure what I enjoy more, the use of definitive past tense with regards to the recession, or the money-printing fable.

Printing dollars does exactly one thing: devalues existing dollars. This solves exactly one problem: people valuing their liquid wealth too much and clinging to it. That – deflation – has never been, nor will ever be, a problem in a country with paper currency with no backing.

Would you like to know more?

HitNRun on November 8, 2012 at 8:43 PM

8-10% unemployment isn’t “staggering”!?

drewwerd on November 8, 2012 at 8:43 PM

Oh. I thought this was going to be Laura Ingrham(sp?) blaming that bad ole Pres. Bush like she did on O’Reilly.

Ladysmith CulchaVulcha on November 8, 2012 at 8:46 PM

This is demonstrably false. Iceland let its banks fail and came out of the recessiion more quickly than other hard-hit European countries.

Despite having the smallest fiscal stimuli of any Western country, the U.S. economy boasts higher growth than almost all its rivals.

Not despite … dumbass, because of having the smallest fiscal stimuli … we would have done better with even less!

Firefly_76 on November 8, 2012 at 8:47 PM

8-10% unemployment isn’t “staggering”!?

drewwerd on November 8, 2012 at 8:43 PM

15%.

topdawg on November 8, 2012 at 8:47 PM

He’s a Keynesian Monetarist, which would make Milton Friedman slit his own throat if he weren’t already dead and the closest that I could ever come to becoming part of the NYG is marrying the owner or a player while wearing a to-die-for Fashionista ensemble.

Resist We Much on November 8, 2012 at 8:39 PM

Milton Friedman practically invented monetarism.
http://www.econlib.org/library/Enc/bios/Friedman.html
http://www.econlib.org/library/Enc/Monetarism.html
http://blogs.wsj.com/economics/2012/07/31/milton-friedman-comments-on-monetary-policy/
This article even refers to Milton Friedman as “Ronald Reagan’s monetarist guru: http://blogs.reuters.com/great-debate/2012/07/02/after-healthcare-ruling-conservatives-again-misplace-their-ire/

Alpha_Male on November 8, 2012 at 8:55 PM

O/T: But in the past 48 hrs., 45 companies have announced layoffs. Pepsi is cutting 4,000 jobs. Energizer is cutting a full 10% of its workforce and shutting down plants in Missouri & Vermont.
topdawg on November 8, 2012 at 8:43 PM

Shocker

mrscullen on November 8, 2012 at 9:02 PM

Jeebus!

What a boatload of CRAP!!!!

When has Bernacke, a hard core Keynesian, ever been correct about anything?

We’re sitting on 13 to 15% unemployment right now. And with today’s announced layoffs and more in the days and weeks to come. We’re going to looking at 18 to 20% by Christmas.

Sure hope those moronic Obama-bots are happy. Their voices, screams and complaints will be the loudest and most pleasantly cathartic of all!

Jack Deth on November 8, 2012 at 9:05 PM

OH MY GOD – There is no way that anyone is dumb enough to believe this crapola.

Have you forgotten what happened Tuesday?

single stack on November 8, 2012 at 9:11 PM

Sure, if four years of economic stagnation caused Obama to be reelected, then Ben Bernanke can be given the credit.

theperfecteconomist on November 8, 2012 at 9:13 PM

Seriously?
Given the data that was hidden/not reported and without regard to the impact of the layoffs (as per Jack Deth @ 9:05) with the resulting unemployment.

I close my side business effective 12/15. The government loses out on all the money from taxes/fees/licenses I pay (make that paid) to run my business.

That also means that there are businesses that I won’t be buying goods and services from anymore and they will see a drop in their receipts.

The “trickle down” effect of Obama’s economic failure…

ProfShadow on November 8, 2012 at 9:15 PM

We’re going to get this a lot over the next several years–articles like “you think this double-dip recession is bad? Just think how much worse it would be without Obama.” I plan to ignore it.

theperfecteconomist on November 8, 2012 at 9:16 PM

Romney failed to energize voters, end of story.

NotCoach

If you needed Romney to energize you to get rid of one of the worst presidents ever, there’s simply no hope for the country.

xblade on November 8, 2012 at 9:17 PM

O/T: But in the past 48 hrs., 45 companies have announced layoffs. Pepsi is cutting 4,000 jobs. Energizer is cutting a full 10% of its workforce and shutting down plants in Missouri & Vermont.

topdawg on November 8, 2012 at 8:43 PM

How is that off topic? I’d say it’s perfectly suited to a discussion about monetary policy and the reelection of president pant-load.

Lost in Jersey on November 8, 2012 at 9:22 PM

I can’t remember reading more nonsense in such a short amount of time than the last 24 hours….

HotAirian on November 8, 2012 at 9:25 PM

If you needed Romney to energize you to get rid of one of the worst presidents ever, there’s simply no hope for the country.

xblade on November 8, 2012 at 9:17 PM

Yup. This wasn’t a GOTV failure. This is an education failure. We have multiple generations raised on liberal propaganda in the schools, and that is finally starting to pay off for the dems. In fact, I’d say we saw the beginning of this in ’06. I’d point to that election as the turning point.

Timin203 on November 8, 2012 at 9:29 PM

Greenspan and Bernanke are harlots but they are not Rs.

Greenspan s/b in prison.

Schadenfreude on November 8, 2012 at 9:33 PM

Trust me, Obama will be cursing The Bernank before his term is up. As will the middle class when Walmart shelves are empty because China would rather keep their plastic crap than trade it for Dollars.

rndmusrnm on November 8, 2012 at 9:40 PM

Greenspan s/b in prison.

Schadenfreude on November 8, 2012 at 9:33 PM

QFT

Firefly_76 on November 8, 2012 at 9:49 PM

The Republican who reelected Obama

Bernanke? A “Republican”? Sometimes R.I.N.O. just doesn’t describe people well enough.

R.epublican
I.n
A.cid
T.rip
F.lashbacks
O.nly

Glenn Jericho on November 8, 2012 at 10:13 PM

He’s a Keynesian Monetarist, which would make Milton Friedman slit his own throat if he weren’t already dead and the closest that I could ever come to becoming part of the NYG is marrying the owner or a player while wearing a to-die-for Fashionista ensemble.

Resist We Much on November 8, 2012 at 8:39 PM

Saying that just proves you know next to nothing about Bernanke or his politics. The Fed Charmain stepped in when the divided government failed. He deserves credit for heading off an even worse outcome for the country after the collapse.

lexhamfox on November 8, 2012 at 10:16 PM

I can’t remember reading more nonsense in such a short amount of time than the last 24 hours….

HotAirian on November 8, 2012 at 9:25 PM

http://hotair.com/archives/2012/11/08/video-hey-how-about-romney-for-obamas-secretary-of-business/

davidk on November 8, 2012 at 10:17 PM

He deserves credit for heading off an even worse outcome for the country after the collapse.

lexhamfox on November 8, 2012 at 10:16 PM

You mean the guy who is printing all the funny money?

davidk on November 8, 2012 at 10:19 PM

CC2016.org (Clinton/Christie 2016)

CC2016.com was already taken by…Conservation Corps 2016/

To BIG to fail./

tonotisto on November 8, 2012 at 10:19 PM

If you needed Romney to energize you to get rid of one of the worst presidents ever, there’s simply no hope for the country.

xblade on November 8, 2012 at 9:17 PM

As long as the GOP insists on assuming that the rest of the country sees the Democrats the same way they do, their candidates will continue to lose elections.

Aitch748 on November 8, 2012 at 10:25 PM

I’m also shutting down my business–total shutdown and even taking it off CCR & Dunn & Bradstreet–and just sticking to my w2 backup. That means less revenue from me. Unintended consequences. If and when we come to our senses, I’ll start a new company.

AH_C on November 8, 2012 at 10:52 PM