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

Shame on Financial Times for trying to mislead readers into thinking Sarah Palin understands economics without qualifying their decision. That’s not journalism, it’s advertising.What Palin said was not news to anyone and a third grader could have said the same thing. They both could have the same amount of experience and authority in complex finances. The same people backing Palin are the same ones that supported a president that never had to balance a checkbook, expanded the government and drove this nation into bankruptcy from a surplus.Palin couldn’t even complete half of her first term – which half of that was spent shopping on the campaign trail.The truth is the economy has been ballooned out of proportion for some time – Bush just kept pumping it up which is why it fell so hard. Having the dollar fall in value might be nerve wrecking experience, but there is an equalizing effect. Companies are in a better position to build a stronger foundation. Maybe some of the millions of jobs shipped overseas during the last 8 years will come home again – along with manufacturing.One thing for sure. I will never trust the GOP to understand economics beyond their highest paying lobbyists.

Posted by du2vye | Report as abusive
 

Richard..perhaps you are the one that needs to google what caused the economic recession. The excesses of Wall Street, unregulated gambling (i.e. credit swaps) and frauds like Madoff and a massive deficit. When Clinton left office this country was in decent shape (deficit wise). Bush is the one who put us in this deep hole chasing two wars that never such have been started. These things happened on Bush’s watch. Not Obama’s. What did Bush do that was positive for our country? But let’s not put all the blame on the President. Congress is equally as guilty. These guys don’t vote for anything without loading it up with pork for their own constituents and the cronies that fund their election campaign funds. Palin is not the answer. Obama by himself is not the answer. Start with getting rid of the self serving Congressman and Senators in your state. That’s where the real change needs to occur.

 

Sara Palin is probably one of the most interesting of the USA people to emerge in the past 50 years. As a foreigner I kind of like her, she is fresh and different.

Posted by Bruce Trainor | Report as abusive
 

Last I heard, the dollar is low deliberately to help our export market. Then again, I read that in the financial news, and apparently they’re so short on actual information that they’re resorting to quoting Sarah Palin’s Facebook page.But what do I know. Maybe Sarah Palin’s ghostwriter has it right.

Posted by Helena | Report as abusive
 

Remembering that the best brains of this country put together the Vietnam War, one must conclude that some element was missing in the vetting! Social intelligence can go may fill the gap!You go girl!

 

Palin can’t control her own children much less the congress or this countries problems. She and John ran a smear campaign and they get beat because of it. She left office in Alaska because of all the law suites against her (primarily by the people of Alaska). Her “higher calling” is about money not saving America. She’s done a great job of keeping herself in the news (no such thing as bad press when money is your goal). And she’s not afraid to use her power when it is self serving. Ask the people of Alaska. Those of you that think she is some kind of savior are seriously deluged.

 

Why is it that anyone who makes a negative comment on a website about Obama’s policies is deemed a Republican hater. I have not seen personal attacks akin to the way democrats attacked Bush…We are making POLICY ATTACKS. If you want to know why we are angry…it is because Obama and his Congress are dramatically outspending what the last Congress and president did. We do not care if it is a repubican or democrat doing it—- all of you STOP SPENDING OUR KIDS FUTURE..47% of americans today pay no taxes- but their children will have to pay their own share, their parents share, plus interest. Think 50% tax rates. No country can survive at that rate.

Posted by kendallini | Report as abusive
 

Sarah Palin has had many accomplishments. At least she is honest. All I see is unaccomplishments out of Washington. I see 500 campaign promises that were just lies. I see a president with an approval rating dropping like a rock. I see a democrat congress with a 21% approval rating. I see our President got awarded the Nobel Peace Prize. The article I read said it wss an EMBARRASSING JOKE! It does appear that we have a liberal panel. I thought this was based on accomplishments, but no, just hope. We all have hope. Maybe we can all get one.

Posted by Jerry | Report as abusive
 

These so called “experts” shouldn’t be so quick to look down their noses at Palin. Every other day I hear a story about how “experts” are surprised by this and surprised by that and how this and that was unexpected…. How many times do these “experts” have to get it wrong before they become irrelevant?

Posted by alix Frisch | Report as abusive
 

Folks, but is it ACTUALLY Sarah Palin writing, or is it a ghost writer for the party? Inquiring minds want to know…

 

Go Sarah:You are an inspiration to all of us. Run for President

Posted by Daddyboop | Report as abusive
 

As if the President is going to sign a bill he isn’t going to read. AND how in the world do you know if her read it or not.This is another example of MIS-information being flushed into the spin room.

Posted by tarynia pettit | Report as abusive
 

What is interesting is the cabal that follows any story on Palin. Even for lightning rods like Rush Limbaugh, Sean Hannity, etc. do not attract such loons. If you watch, for every pro-Palin post there will two or three around anti-Palin posts around it! This cabal is absolutely terrified that Palin will succeed (as well they should).Frankly, I am sure she is waiting for a call from the Nobel Commission herself. I hear today for three easy payments of $29.95 you too can get your own Nobel Prize too.

 

Thanks, but no thanks, Norm Ornstein. She contributes more than you know.

Posted by William P | Report as abusive
 

Norm Oranstien a screaming liberal who helped write the McCain Feingold legislation is hardly the elitist I want telling me whether or not Sarah Palin is qualified. Who makes him the arbitor of what financial direction our country needs. Surely not the American public who only knows this guy from his appearances on the Jon Stewart Show and Air America. He is about as conservative as Nancy Peolosi or John McCain for that matter.

Posted by nickel | Report as abusive
 

I find it interesting how Democrats have previously been called “un-American”. However, some Republicans are willing to damage the American economy by criticizing the strength of the US Dollar, with full knowledge that this is just simply not done. I don’t think anything more clearly shows that these people are in politics for personal gain, not interest in the well-being of their country.Mrs. Palin is a disgrace to our country in everything that she does. I’m not surprised that she has disgraced herself yet again.

Posted by smbogan | Report as abusive
 

Palin makes a true comment in passing, and the haters jump on her for no reason beyond making sure she stays beaten down. Good luck, guys. If not yet a candidate, she’s soon going to be the king maker. The rest of us listen to what she says (which is often quite insightful) and not to what you people say she’s said.@Eric H:Obama an A student? No transcripts have been released. This claim appears to be wishful thinking on your part. Since he’s an admitted slacker, A’s are quite unlikely.If you have any evidence, let’s see it.

Posted by KBK | Report as abusive
 

Who is Norm Orstein to acclaim that “there may be something to the price of gold and the dollar decline” from an unknown “conservative think tank” and his credits rank with a John McCain/Fiengold fiasco. Methinks someone who makes statements “she is not qualified to make statements” shows a pompous author with a biased attitude about someone he probably has never met.People like “Norm” are the faceless bureaucrats who seek to rob folks of their dignity, accomplishments,and individual thought about important issuesOf course it’s OK with “Norm” for a political hack to be running the CIA and an unknown Kenyan to be trashing our country. This guy and people like him are trojan horses who use elitism against those “who are not one of their own” and he is not qualified to speak for a party of the people. His McCain/Feingold act defies freedom of speech and individual thought. This guy is more Feingold than McCain. Palin is a clear thinking, honest, american pol. Hard to find these days and they can’t stand it.

Posted by robert m. | Report as abusive
 

Those who criticize Sarah Palin seem to expel the most hateful comments with absolutely no evidence to back up their hate-speech. I find those who criticize Sarah Palin to be very intellectually challenged.

Posted by Justin Niland | Report as abusive
 

Palin is as well quilfied as most so called experts. I truly believe this country would not be in the sad condition that now exsits if she were leader.As far as Obama being awarded the Nobel. Really, lets look at the awarders. To say they are left wing would nearly be a kindness. Very far out is much closer to their views. To much of the world, “Little creditability” fits nicely. Past awards prove that point rather well.To witness a great & powerful nation decline makes much of the world population very happy. In a very real sense Obama is there leader!!

Posted by Robert | Report as abusive
 

Americans need to realise that USD strength is not a macho competition. The country has spent the last 5 decades making products and selling them to themselves. Now the burgeoning middle class have 2 cars each, 3 refrigerators, 4 re-mortgages and 5 credit cards.The USA needs to become more competitive in the export market, and a weaker dollar will support this, allowing them to sell US made products abroad.Sarah Palin is known not to be the greatest international traveller, like the broader US populace, many of whom have never left the country… so it is ironic that she has a vested interest in a natural level of foreign exchange, considering she’s likely never bought a euro or a pound herself.

Posted by tomcog | Report as abusive
 

Sarah Palin is a common sense person, as the majority of Americans are. Drilling for our own oil would wipe out the deficet in no time. Pres Obama and Congress are out of touch. They don’t have a frugal bone in their bodies. Their policies will weaken America to the extent we will have no future clout on the world stage.

Posted by Barbara S Taylor | Report as abusive
 

Does anyone seriously think it possible that Palin is qualified to discuss most any complex issue, let alone US policy vis-a-vis the dollar? Palin is just an opportunist casting about for attention with simplistic phrases. She’s an unremarkable populist.

Posted by Stuart Barrowcliff | Report as abusive
 

What Sarah says is just common sense coupled with unblinking regard for telling it like it is. Let Sarah lead the fight for recovery with the courage and strength to truthfully address reality.

Posted by rhon | Report as abusive
 

With the job that Norm Ornstein and his friends have done, he isn’t very qualified to speak about Palin’s qualifications. Most state govenors are more qualified than those presently taking part in the debate. I think Norm’s prejudice is showing. How about it Norm? Is it that she is a woman, a republican, a conservative or just not “one of the good ole boys” that have driven us into this mess.

Posted by John Seibel | Report as abusive
 

The former governor of America’s largest state would improve acceptance of her credibility if she spoke first about the impact of rubles on the US economy.

Posted by Gnarled gnasher | Report as abusive
 

Palin’s appeal seems to be is her solutions are so simple. Just drill for some more oil and everything will be fine. Problem solved move on. An extremely naive solution to a US economy with unprecedented public and private debt.

Posted by Mike | Report as abusive
 

as for ms palin not being qualified – as compared to who? she is certainly much more qualified than obama, and more experienced – your views have been formed by others and you buy into them

 

Palin is correct in what she stated about our need for energy independence. Oil is becoming scarce and will soon cause a meltdown in the world’s economy on a scale that is unimaginable and will cause many to starve to death.Is she qualified? No.The real problem here is that our government (both parties) has been so busy helping their rich buddies for generations that no one has done what is necessary to get us off of our fossil fuel addiction. It is quite possible that the peak of world oil production is less than 20 years from now. There may not be enough time now to prepare for what is to come.

Posted by Brian - FL | Report as abusive
 

Australia has had the equivalent of Sarah Palin, simple, oportunistic,screetchy moron, and it took us two elections to convince the red-necks, that she had nothing to offer, only kept repeating, parrot-like what simple minded voters wanted to hear. Wander how long it will take to do the same with Ms.Palin, as she is actually much worse, and the mind boggles at the thought of “President Palin” so good luck!

Posted by Peter von Krusenstern | Report as abusive
 

All I can say in defense of Palin is that she reads lots of magazine like whatever is in front of her and whatever she can get a hold of so as to keep up-to-date with the major economical trends here and abroad–as she so eloquently put it during her interview with those liberal media types, the liking of Katie Couric. Let us not forget, she is someone with high level of foreign policy expertise because of Alaska close proximity to Russia. She can see Moscow from her backward, at least she used to as a governor of Alaska–probably not as up-to-date with her foreign policy matters because she no longer can see Russia from her backward.

 

not qualified in this area as in many others…wonder who she’s getting her viewpoints from?

Posted by suzette | Report as abusive
 

Sarah Palin is particularly unqualified to “snipe” from the sidelines. She would not even complete her term as Gov. For those who think she is simple, common sense and plain talking, her oversimplifying comments are somewhat reflective of the problem in America. We are particularly nieve and lack knowledge of the world we live in and still want to “go it alone” instead of working with our neighbors throughout the world. We probably are overdoing it when it comes to spending and deficits, but at least Obama is doing something!

Posted by Thomas | Report as abusive
 

Palin is not qualified to participate in economic discussions because she’s an idiot. Evidence of her lack of brain power can be found in the numerous interviews she’s given. I cant believe anyone takes her seriously.

Posted by Raoul | Report as abusive
 

Sarah Palin is far more qualified that the poser who is occupying the whitehouse.We would be in far better shape today with Sarah Palin’s articulate common sense approach as US policy rather than the sorry lack of leadership that is now in power.As far as Norm Ornstein, what an arrogant windbag. Hopefully he will eat his words in 2012.

Posted by Fred H | Report as abusive
 

Another 4 years of no new offshore drilling.Palins right on the mark again.Everyone who is quick to critisize her forgets her investments she made with Alaskas PDF fund made her state a few extra billion.Obama is so smart he thinks loaning a gov run Brazilian oil company cash so it can drill(offshore in Brazilian waters) is a way better idea.(intresting to note Soros has huge stock in that same company)Gee so your not only giving them the cash ,your giving them the jobs tax revenue,then buying the oil from them afterwards.Wow is Palin ever stupid for wanting to drill offshore in America.Who wants those jobs the trillions in revenues,the taxes,na buy Brazilian oil instead that makes more sense to Obama.No wonder the dollar is starting its slide,with these guys in charge.Good luck with this nobel peace prize winning president.I remember the great luck America had with the last president who also won it.Jimmy peanut Carter.To refreash your memory,22% intrest rates,12%(or was it 10) unemployment,10%(or was it higher)inflation.What a calamity that guy was.

Posted by David | Report as abusive
 

She is as qualitfied as most of the individuals that try to say she isn’t. Maybe a little listening and honest discussion would help solve problems. It seems most of the so called smart experts have not come even close to her success (Governor, Mayor, VP choice, author, mother, wife, etc. etc.etc.) in such a short lifetime. A lot of people like to try to throw mud by saying the person is stupid or not qualified………frequently they are the ones that fit the bill by way of their own overblown ego. (Consider the source —- is still a good rule)

Posted by nimrod | Report as abusive
 

Sarah Palin is what the left wing is afraid of. Straight, Christian, down to earth,likeable, and she can be in your face. She is not perfect and she will point that out, but she knows where to draw on wisdom. It comes from God “the Bible” and it is not to force on anyone religous beliefs but to carry on the torch our forefathers started by using Gods word to form our laws. Society and Obama has not reached that “pay grade”. I see her as the only real conservative that I would vote fore.

 

Thomas, learn how to spell. James R., learn English grammer. Peter von Krusenstern, why is it any of your business in Australia? Palin has the perfect right to say what she thinks as our constitution gives her. A lot of you folks who criticize her only make yourselves look foolish and biased. And, that is your right, too. However you might think twice next time, before you exercise that right.

 

Sarah Palin is as qualified to speak about the falling dollar and it’s implications as is Norm Ornstein a relatively unknown liberal political analysist or the any Reuter’s writer.She’s as least successfully managed billions of dollars in Alaskan funds in the best interest of it’s residents into a surplus that in part was given back to the taxpayers .Unlike Obama who has WASTED literally hundreds of billions without anything to show for it.Alaska is the only state that has enough reserve funds to last thru this economic downturn. More over it’s the only state, because of Palin’s fight to open up drilling, that is set to recover with least ammount of pain.

Posted by Shawn S | Report as abusive
 

This fracas about Palin’s qualification to comment on finacial matters is typical of political opponents who would attach the person rather than what the person says. If what Palin says is true, then whether it’s about finance or space technology does not matter.

Posted by Kweku Howard | Report as abusive
 

Not qualified, eh? Well, the folks were are supposed to believe are qualified keep telling us what’s expected to happen. Then things don’t go the expected way. So why do we believe them? What makes their guesses any better than any other thinking person’s? Saying Mrs. Palin isn’t qualified to provide reasonable analysis is just arrogance.

Posted by qr4j | Report as abusive
 

Not qualified?Not qualified to discuss the economy?We are all affected by the economy. We all have the right to discuss it. Are we all just supposed to ‘shut up’.Let her ideas stand on their own.What about, what she says?She says drilling and creating more of our own energy, will lower the trade deficit, increase jobs and bolster our security. Pretty simple stuff. But is it wrong? I don’t think so. T Boon Pickens spent millions of dollars last year saying something similar. Is he wrong?But the hate we see here, dismissing her ideas, where does that come from?Part is Alynski stuff. Personalize and attack the speaker regardless of the ideas.Attack her and her family legally and try to ruin her financially. These are the tactics of political thugs.And much of the rest seems to be the natural response of elites everywhere when their ideas are challenged. They are afraid and therefore they want to destroy.Have a nice day.

Posted by Robinsolana | Report as abusive
 

I’ll admit that Sarah Palin has accomplished a great deal to date – It’s not everyone that can become govenor. However, there’s a big difference between this and being qualified to influence policy on a national / international level. I consider myself a moderate and open to reasoned dialog from both the right and left. But did you watch some of the Palin interviews in her brief stint on the national stage? Honestly? Take a look at the Katie Couric interviews again and tell me that you still find her a credible, intelligent source of commentary on anything beyond her current sphere of experience…

Posted by Bryan | Report as abusive
 

Sarah Palin can say whatever she wants on her Facebook page, but it shouldn’t be quoted in a financial news source as being an expert’s commentary. She has no training in economics, was governor for only a brief period of time. She put herself in a unique “teflon” type of position of being able to criticize from the sidelines without being criticized by quitting her job as governor “for the good of the state”. If that doesn’t say it all, I don’t know what does. But it was one of the most transparent, cynical political moves I have seen in a long while. It is obvious she is jockeying for position to run for higher office, and God help us all if she gets anything higher than senator.

Posted by Diana Springfield | Report as abusive
 

Gold price on Jan 20, 2001 – $265/oz. Gold price on Mar 17, 2008 – $1030/oz. All this occurred under the Bush administration. Who killed the US Dollar? Clearly not the Obama administration. A little research is all you need to educate yourself. Why are the Palin pals so afraid of research? Answer: It will prove that Sarah is nothing but a media grubbing fool. Palin should stick to TV, perhaps she and Jerry Springer could put a show together. I think their fans are one and the same. No IQ above 85 allowed.

Posted by brainiac | Report as abusive
 

Give me a break. We live in a society were, youth violence is running rampid, and we sit with our children and eat popcorn while watch two people beat each other silly at Pro wrestling matches. (I am sure Scott loves a good wrestling match) After all it is good clean christian fun!!! Were Sex, with the exception of republicans, is the most vile and unforgiving act on earth. We christians have great priorities. For the record Scott, Lip service does not make a christian. Nor does your endorsment. And as far as God’s effect on our founding father’s wisdow, so to was their wisdom, from God Scott, when they wrote into the constitution that we need seperation of church and state. Do you think that is so Religous bigits can’t over throw the government.

Posted by Preacher Dick | Report as abusive
 

The writer’s warning–in this so-called reporting of what is essentially NOT a newsworthy subject–(that Palin’s Facebook ramblings significantly influence public opinion) ignores the hilarious fact that the single reason Palin’s agitprop comments are in the news at all is because the media is gung-ho on making every word she speaks (as mouthpiece for the GOP and their various energy/economic agendas) news. Woe to those of us who fail to see that the messengers involved here, from Palin to all the news outlets which religiously broadcast her GOP-fed rhetoric, are not reporting anything but rather continuing the 2000-2008 era of indoctrinating the sleeping public. Fear well, the media is keeping the Bush administration alive and on the offensive until 2012.

Posted by Angela Byron | Report as abusive
 

When she was Governor of Alaska, the state was receiving a financial windfall from oil severance taxes at a time of high prices and high utilization. There was a clamor from the Alaska political establishment, on both sides of the aisle, to blow the money on new government boondoggles.Gov. Palin knew that government programs can almost never be successfully abolished, and that such wastefulness would be unjustified when hard times returned. She refused to allow the government hogs to put their snouts in the trough, and instead used much of the money to build up the state’s rainy-day fund. The rest she returned directly to the citizens.It’s plain to me that she’s a smarter steward of the taxpayer’s money than 98% of the spendthrifts and morons who infest our government, beginning with President Porkulus himself. I fully expect the next three years to be a disaster for this country, and anticipate that she will beat Obama easily in 2012.

Posted by John Skookum | Report as abusive
 

Go Sarah, Why is the economy in the condition it’s in now? because of the so called economist that can’t think outside of the box and missed the warning signs or just compleatley disregarded them, let’s allow everyone some input and let’s entertain fresh ideas and maybe sometime in the future we can climb out of this hole and become strong as a nation again.

 

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