Tales from the Trail

Another side of Sarah Palin: financial guru

October 8, 2009

The Financial Times, the salmon-colored authoritative newspaper that is closely read by traders and other financial types around the world, had an eye-opener for readers this morning. USA-POLITICS/PALIN

It wasn’t the front-page, four-column wide headline, “Obama’s critics pounce on falling dollar as fears grow over currency.”

It wasn’t the graphic showing a red downward line over a dollar bill.

The jolt comes at the start of the second paragraph in the top story of the day on the dollar, “Sarah Palin….”

The newspaper, whose articles can move markets, quoted the former Republican vice presidential candidate and ex-Alaska governor from her Facebook post on the need for energy independence. Palin links the dependence on foreign oil and large U.S. deficits to declines in the dollar .

“We can see the effect of this in the price of gold, which hit a record high today in response to fears about the weakened dollar,” Palin wrote.

Palin’s power for using her Facebook page to affect public opinion is not to be taken lightly. Remember “death panels” which turned the healthcare debate into rabid townhall meetings this summer — that phrase emerged from Palin’s Facebook page.

Others quoted in the same Financial Times article offered an opinion about Palin’s opinion.

Norm Ornstein, an analyst at the American Enterprise Institute, was quoted as saying there may be a legitimate debate over the dollar’s reserve status, “but Sarah Palin is not qualified to participate in it.”

What do you think of Palin’s financial comments? Is she qualified or not? Is her Facebook platform an effective political tool?

Click here for more Reuters political coverage

Photo credit: Reuters/KTUU-TV (Palin announcing her resignation as governor in July, video frame grab)

Comments
167 comments so far | RSS Comments RSS

“she left the govenor’s office with a $30 billion surplus”alaska gets heaps of federal aid i.e. YOUR TAXES. and its a oil nut’s wet dream, literally, so a surplus is no big deal!

Posted by JULIAN THOMAS | Report as abusive
 

Look at the three stooges, Hillary, Joe Biden, and Obama. Collectively, they have zero experience of running any experience in running any agency or business.There are probably, many other people more qualified thatn Sarah Palin on economics, but there is no reason to even doubt her common sense. Why not look at what she is saying. Is there any doubt about the relation of dependence on foreign oil, and the deficit on the value of dollar?Now what part of what Obama has proposed on major economic policies make sense/ except to the people who have a hand out for government give aways? or Politicians who bank on being relected again?

Posted by jay | Report as abusive
 

To Robert Black who asked “Who is Norm Ornstien?”As the article states Norm is an analyst at the American Enterprise Institute – a conservative think tank.It appears that the AEI, like all intelligent individuals or organizations, can’t separate themselves fast enough from the mental midget of the great white north.Per WikipediaThe American Enterprise Institute for Public Policy Research (AEI) is a conservative think tank founded in 1943. Its stated mission is “to defend the principles and improve the institutions of American freedom and democratic capitalism—limited government, private enterprise, individual liberty and responsibility, vigilant and effective defense and foreign policies, political accountability, and open debate.”

 

I laugh at all the liberals who are trashing Palin. I guess their opinion is that all the dolts running things now and who were running things over the last few decades or so are much smarter than her.After all, they weren’t responsible or out to lunch on the worldwide collapse of the financial markets. They were so much smarter than Palin that they were all telling us how messed up things were and were desperately trying to fix everything. Oh, they weren’t any smarter and were not fixing anything?Oops…

Posted by James | Report as abusive
 

To AlexB and his Reagan worship post, I’m not quite sure what Reagan has to to with Palin anyway, except she seems to be struck by the same affliction he had before he passed, but lets inject a little reality here.Reagan is responsible for the CIA training and arming the Afghan Mujaheddin under the ‘Reagan Doctrine’ led by Osama bin Ladin, which put him into the position of power and allowed him to become the terror leader who is now blamed by many for the September 11th, 2001 attacks on this country.Reagan also increased deficit defense spending on a level that nearly bankrupted this country, all the while exaggerating the ‘threat’ of the Soviet Union, which his administration knew was collapsing at the same time they were telling the people in the US they were an enormous threat that required spending obscene amounts of money on weapon systems we didn’t need (thousands of nukes) and/or that didn’t work (star wars missile defense, patriot missiles).Reagan then ordered ‘general disarmament’ of our nuclear weapons via the INF and START1 treaties in 1986-1987.He also sold weapons to Iranian terrorists in exchange for hostages and then lied about it right to our faces saying we “will not negotiate with terrorists”, when that is exactly what he did. But I’m sure you think Clinton lying to our faces about a b.j. is far worse right?

Posted by JohnM | Report as abusive
 

Someone asked who Ornstein is. He is a liberal who happens to work for a conservative think tank. As for many of the snarky comments about Palin. chill out. They would hate her if she were to deliver an address in classical Greek on Platon’s apoloogy.

Posted by John Schuh | Report as abusive
 

every boby so negative about sarah i just cant believe how she gets critize it means she is doing something right let he oue judge be judged of the samething . dont worry sarah you have enough of us backing you and praying for you

Posted by MADELINE TREVISON | Report as abusive
 

I don’t care for Sarah Palin as a candidate..I was and am a Mitt Romney supporter….but I will say that she knows a WHOLE LOT more than Mr. President about the dollar and a zillion other issues.She sounds dumb? Yeah maybe…the solutions are very simple…it’s called ‘common sense.’

Posted by SSS | Report as abusive
 

Why are Facebook and Twitter becoming sources for main stream news? What happened to investigative journalism? It makes me sick how lazy reporters have gotten. This is a story about a story from am posting on the internet, sad.

Posted by Richard | Report as abusive
 

Bill in arizona,I am truly amazed at your stupidity.George W caused this economic recession? Wow, where do you get your information from? I never liked Bush but I have more common sense to blame the entire thing on him. Do yourself a favor and open a basic economics book. Better yet, just google “what caused the current economic recession.” You can tell what your find to all your Obama bandwagon supporters and remember to ask them what change Obama has brought since his election.

Posted by Richard | Report as abusive
 

Somebody besides Norm and his buddies, better start particpating, because old Norm isn’t doing SQUAT.

Posted by Cliff Disney | Report as abusive
 

Just so I understand the Republican agenda on this, please clarify any points I am missing.Yes the prior administration (Republican) did a horrible job, but this administration (Democrat) is doing a horrible job too.Is this where I am supposed to say to myself, “Well gee, clearly the Republicans are going to do things better next time!”?

Posted by Justin | Report as abusive
 

I am not really interested in who says what. What\’s important is how do we get out of this mess. I agree that ole W caused the fire when he allowed Paulson and Bernanke to create tarp. These 2 are crooks and globalist\’s meaning they put the global economy slightly behind their own self interests but ahead of the U.S.A. While Bush started the fire the steps bho and the dems have taken appear to have the effect of throwing gas on a fire. Bho talks very well but far to often his grasp of the economy is weak and frankly makes things worse. Anyone who has taken a single economics class knows you cannot spend your way out of debt. This Keynsian approach is a socialist approach which ultimately leads to higher taxes and less productivity.The chinese of all people cut taxes on businesses to help their economy, how capitalist of them. If Pelosi would open her eyes (pun intended) and Reid would get his head out of someone\’s …. they might realize the way to go would be to cut corporate taxes temporarily to stimulate the economy, forget trying to sneak in universal health care, and implement illegal immigrant laws that punish businesses who hire them. These approaches would stimulate the economy, strengthen the dollar and hopefully help people to realize bho is all hat and no saddle. For those that do not understand, you can look good in a hat but if you cannot ride the horse stay in the barn.

Posted by byron | Report as abusive
 

10/8/09Keep criticizing Mrs. Sarah Palin. She is one of the few politicians, that make sense to us working class people.Want to critize her, fine do it, but give examples of what she has done wrong, not just call her names.Drilling for oil and gas add jobs to the USA and reduce ourtrade of balance deficit.Why is a gallon of crude oil extracted from Saudi Arabia or Russia, better for the enviroment that one that is extracted from USA soil by american workers????

Posted by Benigno | Report as abusive
 

In answer to the post I quote below:All you need is common sense, right? You don’t have to know how to follow an argument that considers a whole lot of variables, right? Reconciling conflicting observations is for limp-wristed elites, right. Well, actually, _that’s_ the crock the right has been successfully selling. It’s a really attractive product: Makes everyone who buys it a really confident — and sometimes outspoken — expert. After all, they’ve got common sense. Faith based science, anyone?7:27 pm GMTI don’t care for Sarah Palin as a candidate..I was and am a Mitt Romney supporter….but I will say that she knows a WHOLE LOT more than Mr. President about the dollar and a zillion other issues.She sounds dumb? Yeah maybe…the solutions are very simple…it’s called ‘common sense.’- Posted by SSS

Posted by Geez | Report as abusive
 

Why does this dimwit continue to make news headlines???

Posted by Paul | Report as abusive
 

Well as to MS Palin, I know the Paliban like her, I for one do not care for her view, she would end this world, one scary woman

Posted by Bill, Hillsboro, OR | Report as abusive
 

All of these comments, and almost none about the issue of the declining dollar. Ms Palin is making a simple, and true, observation about dire consequences should the dollar no longer be a reserve currency. This doesn’t make her a genius, but it doesn’t make her an idiot either. Considering she has ignited debate on what should be a vital topic, I’d say she is dumb like a fox. If she forces the administration to pay attention to real business rather than the faux crises of medical care and global warming, I think she has earned some votes.

 

Why would you quit your job as Governor to pall around with college kids on Facebook?

Posted by ATL Guy | Report as abusive
 

In China she gives a remarkable statement just as eye oppening as death pannels.Slay the death tax,I just loved that one,kill capital gains tax,reduce payroll taxes,reingn in Gov spending.Her HC reform ideas I read in her notes there are also good.She did simular things in her state.Reduced earmarks 85%,reduced medical backlogs 83%,made gov officials deal in public on camera with big oil,cut hundreds of millions in wasteful spending,gee and ended up saving billions for tough times like now.Her state has hundreds of millions being spent on renewables,weatherization,heating oil rebates.Americas lowest tax rate,and she passed Aks strictest ever ethics reform laws.Theres so much more she got done in such a short time.When you read her facebook notes you realize she isnt that stupid person the media spent countless hours trying to convince everyone of last fall.They bashed her on clothes and everyone missed the governing record part.Big deal she supported some stupid bridge before she killed it.Theres a few gov official guys in orange junpsuits in prison because of her.Too bad people do not read her words watch her speak,she is alot smarter than many people think.Presidential,well maybe,maybe not,smart well that word youbetcha comes to mind.

Posted by David | Report as abusive
 

Who died and left Norm Ornstein in charge?? Facts and the ability to analyze them into concise wisdom is usually the dominant factor in a discussion not controlled by the media or propagandists.

Posted by Joe Black | Report as abusive
 

I forgot to add to the part of my statement on her ignored record.Palin negotiated the groundwork for the most massive private sector pipeline project in American history.Liberals keep telling us she is stupid.They should remove the beam from their own eye before critisizing the sliver in hers.

Posted by David | Report as abusive
 

I’m not impressed with two Ivy League degrees from Obama. George Bush had the same credentials, after all. Elitists created the financial crisis, not Sarah Palin.What impresses me is her vision. It doesn’t taken a Harvard degree to see we’re headed in the wrong direction. We need common sense smaller government. We need politicians with backbones who will actually serve the public, not their cronies. The reason we have a $12 trillion deficit is because both parties have sold our country down the river.I’m willing to listen to a woman who believes enough in fiscal discipline and government ethics to turn in members of her own party. I’m willing to listen to a woman who put her money where her mouth is and laid off the governor’s chef, the chaffeur and sold the governor’s jet, a woman who cut spending every year she was in office — not just slowed down spending, but CUT it, including an 85% reduction in the governor’s travel expenses.She has every right to comment on the falling dollar. Because deficits have caused it. And she is a deficit hawk with a record to prove it. If her common sense and pragamatism doesn’t impress you, then you’re too busy drueling over Dr. Utopia’s hope and change to ever be impressed with anything.

Posted by Nicole | Report as abusive
 

A person does not need academic credentials to make comments about the economy. If academia is so smart, why don’t they admit that the financial bind that America is experiencing is because unlimited credit was offered by the financial companies to a bunch of fools just to make a buck.

Posted by Rudy | Report as abusive
 

I am constantly amazed at how Sarah Palin, at every turn, shows she has the common sense and ability to speak to the issues that address the concerns of many Americans and non-Americans. She is coming through across those ugly misperceptions that the media has painted of her and prove that she is intelligent, quick-witted and highly capable.She is in a sure-footed way continuing to tear down those mean-spirited misperceptions.She continues to pull in the crowds through her speaking engagements and her upcoming book. Her natural ability to attract those that could see her for who she truely is is a gift that many a politicians would dearly crave for. Those who write her off will be sadly mistaken.

Posted by RCC | Report as abusive
 

It appears you have a lot of stupid republicans reading this article. I just about puked this morning reading the FT, until they threw that Ornstein quote in there.That woman is dumber than a can of rotten moose meat. And the fact that republicans are pumping her idiocy is a sure sign of desperation of a party with no intellectual basis anymore. William F. Buckley is surely spinning in his grave. GOP, RIP. You’re toast.

Posted by brainiac | Report as abusive
 

Sarah Palin is exceptionally qualified to comment in any debate. Were Norm Ornstein and other elitists so smart, we wouldnt be in the mess we are in right now. Its time to listen to Americans with LESS Ivy league education and MORE common sense! Sit down and shut up Mr. Ornstein you are so educated that you’ve become stupid.If Sarah Palin is so unqualified and pitiful …then why the uproar from liberal democrats? You would think they would encourage and boost her credentials if she were such a weak adversary. Hmmmmmm , sounds like the liberals are scared.

Posted by Jim | Report as abusive
 

Hey Justin,Republicans, despite the best efforts of leftists, kept you safe from terrorists for 8 years. Bang your head on that one. The dismissiveness with which Sarah Palin is treated by the mainstream media is PROOF of how much they fear her. And us. And they only fear what they don’t understand. Everything and everyone else, they try to control. And where was Norm Ornstein when Bernie Madoff was popular? That would be interesting to find out.

Posted by Thomas | Report as abusive
 

Sarah cut State Backing for Special Olympics 50% in Alaska in 2008, and then went and spent 100k on her own clothes.Britteny Spears functions on a higher level than Sarah Palin. The news guys are joking about Sarah advising anybody about money. Right? Somebody please say Right? and wake me up from a bad dream. Pleeeeeze?Signed,Embarrassed in Alaska

Posted by Greg | Report as abusive
 

We want change for better and not worse. Our next generation will be responsible for paying the debt that is created by our generation. This is making me very sad. Why should my children have a more difficult life than me?

Posted by Daisy | Report as abusive
 

SARA was cutting OFF ALL WHO POST WHAT SHE DOES NOT WANT SEEN.EVEN GOP.DOES HER FACEBOOK PAGE REMAIN A ONE SIDED FAR RIGHT LOVE FEST?Plain signed on her OWN “death care” for ALASKA -WAS IT NOV 2008?So now that she quit ON HER FOLKS BACK HOME, She’s got time and she’s learning some basic finance 101?SO IT WAS ABOUT BYE BYE, BIGGER FISH TO FRY ….sorry oncaps i’m disabled.

Posted by macdoodle | Report as abusive
 

All I ever hear in the criticism of Palin, is the same ol’ tired, regurgitated bilge.Never have I seen a LibStain attack her ideas in a substantive manner.’Emoting’ aint gonna cut it this time around, kiddos.I find it hilarious that no matter how much they throw at her, she manages to use the attacks in her favor.Keep it up with the misunderestimatin’ . . . PLEASE!!!!

Posted by tahDeetz | Report as abusive
 

First of all, to all the Sarah Palin lovers, put your teeth back in for a second and calm down. Anyone who takes a dig at her is apparently a communist, socialist or just plain un-American. Really?Drilling for more oil is stupid and short sighted (not to mention what it does to the planet). Do you know how many years it takes from the time you green light new drilling to the first drop of oil? How many square miles of iceburgs will have melted by then?Blaming President Obama for the falling dollar is stupid and short sighted. Eight years of a Republican circle jerk lead by a former V.P. who should be behind bars is mostly what put us in the hole we are in.Is Sarah Palin a complete idiot? I don’t think so. As a Democrat do I want her to run for President? Oh, God yes. Please!!!!!

Posted by Jon Waldrep | Report as abusive
 

Sarah has the right to voice her opinion. She has common sense, which we are surely lacking in congress and the whitehouse, they got us in this mess, with the stimulus, TARP, etc. The Secy of the Treasury was a Fed Reserve Board President in NY. He wants the US dollar to fall, why is he allowing the USA to collapse right before our eyes. This is a betrayal that is hard to understand.

Posted by Jean W | Report as abusive
 

Sarah you are the one the american people needs you work and care. Obama juast talks he was the best for himself for the american people to pay for him.

 

These statements by Palin are true, and she is approximately the one-hundred-millionth person to figure them out.

Posted by Satan | Report as abusive
 

So what was she doing paling around with 1.2 billion Communists?What a complete fool that woman is, and she only manages to get a following of those who are even more foolish than she is. Two grey cells beats one grey cell.

Posted by Marton R | Report as abusive
 

I do beg your pardon; I meant to add that Palin’s idea that a strong dollar is good is highly debatable. In most cases you’re better off if your currency is weak. You can sell your products more easily internationally. Japan wants a weak Yen. China is being roundly criticized for artificially depressing the Yuan, which is why they’re clobbering the rest of us commercially. I check the forex daily, and I’m always rooting for a low dollar and a high Yen. And of course, if we can balance our budget and inflate the dollar, we reduce our debt, but they say we probably can’t get away with it.

Posted by Satan | Report as abusive
 

HAS none of you realised that Ms Palin is probably reading a speech that was written for her by somebody else. Whether or not she is Governor is of no relevance, she is very visible in all media therefore she can become a mouthpiece for those individuals or Corporations who wish to further their own agendas by placing their words in her mouth.Remember, every time she opens her mouth all you Yanks stop to listen to her. Corporations can`t buy that kind of coverage, but I`m sure that they might be able to buy her.

 

All the democrts can do is say bad things about Sarah Palin personally because they know she is smart and popular, and they know that she would be an excellent Republican President. The can’t have that.She is a decent person with common sense, so democrats are all upset because she does not have the mentality of the crime ridden slums of Chicago, and she does not have any terrorists as friends. She would actually keep prisoners in Gitmo instead of the USA. She has respect for the taxpayer, that alone would upset the democrats. Democrats can’t stand a bright republican woman, so they mock her, which is really a reflection on the liberal media that would agree with Barrac if he said that the sky would fall if we consuming Ameicans don’t pay more in taxes.

Posted by Tom | Report as abusive
 

Paul you are the dimwit and a pipsquik if that is all the argument you can come up with. get used to it you will hear more from Palin.

Posted by Dcoios | Report as abusive
 

Yes Sarah is qualitified to speak out, it is hers and our right.. Obama is not yet in as much controll has he would like to be over out free speak here in America..Shirley

Posted by Shirley | Report as abusive
 

I think this conversation got hijacked by politics instead the actual problems of the declining US dollar.While its probably true that Pailin’s comments are politically motivated, it does not stop them from being true.How will this administration cut back the defficit and strengthen the dollar?Better yet. Are her comments true? The declining dollar is due to the large defficit ( which makes perfect macroeconomic sense) and dependence on oil?

Posted by sam | Report as abusive
 

A lot of the hate speech here comes from Republicans who are just SORE LOOSERS. Sara Palin is the opportunistic master of the obvious we see. She is a nutcase and many distance themselves from her spectacle. what she is trying to do , if she knows it or not is tear the country apart and de-rail any positive and original ideas the elected president has put forth; at least he is following through with his campaign promises. As an American she should support the president and the country. She is divisive, disrespectful and ridiculous.

Posted by tarynia pettit | Report as abusive
 

Reuters incorrectly blames Palin for the origination of the term’ death panels’ (H.R. 3200). She was unavailable during the month of August. The American public read the 1014 pages of the Bill. The Bill creates an Executive Branch panel to make medical decisions. We still don’t know who wrote it and created the panel The media, Congress and the President did not read the Bill. Why does Reuters lay that term on her? Kudos to Palin for being the only public figure willing to speak up and tell the truth about current political decisions which are destroying this country. Palin merely states the obvious.

Posted by Virginia | Report as abusive
 

I find it humorous that the Republicans would seize on energy independence as a prod for the new administration while they continue to chide Carter for his efforts at conservation and renewable energy. Suddenly, the sweater doesn’t seem so silly. It apparently just takes 30 years for these dimwits to get their thoughts together. Let’s face it, through the last three Republican administrations (yes, Clinton was a Republican), America has been asleep on this issue while countries like Germany have worked hard towards reducing their energy needs. I guess we needed to keep gas cheap to make the execs at GM happier. That all turned out well.I can’t wait for her to make a run for the White House. I love dark comedy.

Posted by Rich | Report as abusive
 

Palin could have read that statement a year ago. So could a third grader.Shame on Financial Times for attempting to give her unqualified credibility without asking for proof she graduated high school first (I PROOF she really graduated). That’s not journalism, that’s advertising.It’s obvious that wall street is getting nervous about control of the government going back to people (you know – “for the people, by the people” thing). After all, it was Republican’s that engineered this recession in favor of banks and investors, who left such a small middle class that they don’t have enough wealth left to support the economy. Yup, they still want more tax cuts for the wealthy and bigger wars.But who knows, I could be wrong. Next week Palin could be in line for a conservative version of the Nobel Peace Prize that no one’s heard about yet – and announced on her FaceBook page. Then Financial Times and Fox will have a whole new yarn to fabricate.At least Obama has read the Constitution and knows how to read a budget (“It’s just a bunch of numbers” – Bush, who’s never had to balance a checkbook still).

Posted by aikanae | Report as abusive
 

Financial guru?? Ha! How about financial bozo?

Posted by Tink Golamb | Report as abusive
 

Of course she doesnt write her own Facebook content! She probably doesn’t even read it.

 

First of all let’s remember that Norm Ornstein works for a CONSERVATIVE think tank, has a Ph.D and has worked with John McCain on legislation, specifically The McCain/Feingold ActThen let’s remember that Sarah Palin has a BA in communications from three community colleges and the U of Idaho and has never worked on a piece of national legislation. I have no problem with community colleges or the U of Idaho. However I wold guess that Ornstein is vastly more qualified than Palin to make statements on the rise and fall of the dollar.Also on the subject of education, I saw some comments that Obama’s education was similar to Bush’s and therefor not impressive since Bush put us in this financial situation to begin with. The differences between these two similar backgrounds is that Obama was an A student and Bush was a C student, Obama earned his way into Harvard while Bush rode dads (and granddads) coattails into ivy league schools.Now back to the original question, is Palin qualified to give this analysis, the short answer is no. The long answer is hell no.

Posted by Eric H | Report as abusive
 

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