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Regarding the latest Anonymous post on "Very Interesting Non-Partisan Article on What the Fed Should Do Now"

Anonymous said…

“Non Partisan” Hmmm: “The Weekly Standard is a conservative American opinion magazine . . . Its current editors are founder William Kristol and Fred Barnes.”

And Andy Kessler.. ? So– The Nation is non-partisan too?

I was also surprised when I followed the link and found it was from the Weekly Standard. I was even more surprised when I read the article and saw that it was indeed fairly non-partisan. I write “fairly” because, as you (Anon) note, it does appear in a magazine that advertises its own conservative biases.

Still, while The Weekly Standard s certainly partisan, I don’t think the article is. This may well be because I have my own ideological blinkers on, but I found Kessler’s description of the problem with determining the money supply to be a straightforward account of how modern monetary policy works, what it evolved from, and the special challenges that face us in the future.

He does not advocate, for example, a return to the gold standard. And I would think there are readers of the Nation who would see the massive influx of cash into our economy as at least somewhat problematic.

So I’d say, yes, Anonymous has a point – the Weekly Standard is definitely a conservative magazine. But that doesn’t mean that everything in it is necessarily so. I’d say that’s true of The Nation as well.

However far over the falls the political discourse in this country has gone, I think there are still a few realities – facts – that conservatives and liberals can agree on. The WMD we expected to find in Iraq weren’t there. There has been a large influx of money into the econonomy. The Coleman-Franken race is more about politics right now than counting ballots. There are probably a few more out there, but it might not be too much longer before anything that even appears to be simple, plain-as-day reality is vaporized in the heat of “debate”.

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