Sarah Palin speaks! Some thoughts on her speech in Hong Kong

September 23, 2009

So Sarah Palin gave her big speech in Hong Kong. She talked about eliminating cap gains and estate taxes, giving people tax breaks to buy their own health insurance, and took a few shots at the Fed. That section was particularly interesting. (A bit of video here.) Here is the WSJ’s take:

“How can we discuss reform without addressing the government policies at the root of the problems? The root of the collapse? And how can we think that setting up the Fed as the monitor of systemic risk in the financial sector will result in meaningful reform?” she said. “The words ‘fox’ and ‘henhouse’ come to mind. The Fed’s decisions helped create the bubble. Look at the root cause of most asset bubbles, and you’ll see the Fed somewhere in the background.”

“Lack of government wasn’t the problem, government policies were the problem. The marketplace didn’t fail. It became exactly as common sense would expect it to,” she said. “The government ordered the loosening of lending standards. The Federal Reserve kept interest rates low. The government forced lending institutions to give loans to people who as I say, couldn’t afford them. Speculators spotted new investment vehicles, jumped on board and rating agencies underestimated risks. So many to be blamed on so many different levels, but the fact remains that these people were responding to a market solution created by government policies that ran contrary to common sense,” she said.

Me: I will  alsopredict that she’ll also come out strong against TARP, which may be a big dividing line among 2012 candidates.

6 comments

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We don’t need the world looking to Sarah Palin for an economic history lesson. As an American citizen I find it embarrassing that the rest of the worlds citizens may interpret Sarah Palins views as parallel to the majority of American citizens.

Alan Greenspan and Sarah Palin both seem to share the inability to grasp that even men and women in business suits will steal, commit fraud and have no remorse while walking away with their cash while their victims, whether directly or indirectly, suffer the consequence through having their families modest savings wiped out or being forcibly removed from their homes.

When Sarah Palin or anyone else blames the government for the rampant greed, fraud and deception that contributed to the historic overleaveraging and subsequent economic collapse they are demonstrating that they a suffering from cognitive dissonance.

Posted by csodak | Report as abusive

Palin spoke about loving freedom, so why wasn´t the press invited Scarah???
She also slagged the USA and it´s president.

I have a question, why are SOME people talking about this dolt as if she had a shot at the presidency? Didnt she QUIT her governorship of GUAM? Wouldn´t her republican opponant merely have to say MRS. PALIN QUIT, END OF STORY????
I know she is still collecting DONATION via SARAHPAC, but seriously when will people put two and two togther, she hasn´t a leg to stand on. She´ll do well asa motivational speaker…Tonya Harding can keep ghostwriting fior her, it´s a winning combo…KA-CHING!

Posted by Deo | Report as abusive

In what way is this a “big speech”? Palin is irrelevant. Just like this blog.

Posted by Kramer | Report as abusive

Anyone interested in addressing the substance of the speech? We all know you Alinkyites can namecall but most of us got over taking that seriously as a means of discourse in high school. There are millions of us who believe:

1) Government is a huge part of the problem, and is not the utopian solution to any problem

2) Freedom works to generate economic growth

3) China’s human rights record still matters, as does its support for regimes like Sudan.

4) Human nature can’t be perfected by government programs.

By the way csodak, SP took on big oil companies in Alaska in a way that few of her detractors would ever have the courage to despite their liberal template of despising corporations, so don’t try to paint her as naive about business corruption. That shoe does not fit.

Posted by Jeremy | Report as abusive

@ Jeremy:

1) Government is a huge part of the problem, and is not the utopian solution to any problem

1a) Government is a greater problem when it fails to serve the interests of the people and enables predator capitalists.

2) Freedom works to generate economic growth

2a) What freedom? America is the most highly regulated society I’ve ever had exposure to. Having travelled to four of the seven continents, I’ve experienced freedom but sadly, America wasn’t the best example.

3) China’s human rights record still matters, as does its support for regimes like Sudan.

3a) China’s human rights record doesn’t deter our Government and the greedy capitalists from abandoning American people in favor of cash.

4) Human nature can’t be perfected by government programs.

4a) Perfecting human nature is nothing I’d trust a government to do. Criminalizing despotism and greed is however. Our government has been very effective at controlling individuals, not much good at protecting us from corporations and identity theives though.

Posted by Unemployed | Report as abusive

@Jeremy
OK, here are my thoughts on the substance of the speech. Palin fundamentally doesn’t understand the causes of the economic crisis (this should come as no surprise to anybody that has ever seen her interviewed).
Government was not the root cause of the crisis and it is simply untrue to say that financial markets didn’t fail. If anything, INSUFFICIENT regulation (a lack of sensible constraints on leverage, etc) was a larger part of the problem. Saying this does not make one a socialist.
You can have a sensible discussion about such matters with an intelligent conservative like Mitt Romney, but Palin has absolutely nothing to offer to the debate.

Posted by Kramer | Report as abusive