Sarah Palin, Economist

Who knew?

Reporter Peter J. Boyer in the current issue of Newsweek magazine:

 

[Sarah] Palin has also become conversant on the subject of quantitative easing, the inflationary effects of which she illustrated with a personal anecdote. “I was ticked off at Todd yesterday,” she said. “He walks into a gas station as we’re driving over from Minnesota. He buys a Slim Jim—we’re always eating that jerky stuff—for $2.69. I said, ‘Todd, those used to be 99 cents, just recently!’ And he says, ‘Man, the dollar’s worth nothing anymore.’ A jug of milk and a loaf of bread and a dozen eggs—every time I walk into that grocery store, a couple of pennies more.”

http://online.wsj.com/article/SB10001424052702303678704576441931372140072.html?mod=WSJ_Opinion_LEFTTopOpinion

2 Responses to “Sarah Palin, Economist”


  1. 1 Ron Stone September 4, 2011 at 1:03 pm

    Sarah is feeling and expressing the same frustration, even anger that most Americans are today. No matter how much the Government plays with the CPI, people still see and feel the real inflation we have in this country today. I’m old enough to remember when Cokes were a nickel. Now they are a dollar!

  2. 2 David Glasner September 11, 2011 at 8:47 am

    Ron, I don’t know what you mean about “playing with the CPI.” Do you have any documentation or are you just helping to propagate an urban legend? You can’t infer anything about inflation which refers to a rise in prices generally from the rise in the price of a single commodity. If you are old enough to remember when a bottle of Coke was a nickel, you are talking about 50 years ago or more. What on earth does that have to do with inflation over the past three years? If you look at this graph you will see that the CPI over the past 3 years has risen at the slowest rate of any 3-year period in 50 years.


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About Me

David Glasner
Washington, DC

I am an economist in the Washington DC area. My research and writing has been mostly on monetary economics and policy and the history of economics. In my book Free Banking and Monetary Reform, I argued for a non-Monetarist non-Keynesian approach to monetary policy, based on a theory of a competitive supply of money. Over the years, I have become increasingly impressed by the similarities between my approach and that of R. G. Hawtrey and hope to bring Hawtrey's unduly neglected contributions to the attention of a wider audience.

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