The Governor’s CLSA Speech — We Wish We Were There
The Wall Street Journal reported here http://online.wsj.com/article/SB125368057547633229.html#mod=WSJ_hpp_MIDDLTopStories, on its review of a recording of Mrs. Palin’s wide-ranging keynote address at the CLSA investors forum. From the description by the Journal, the Governor was true to her limited government, free market principles. For example, she pointed the finger at the Fed for the recent financial crisis. According to the Journal:
Mrs. Palin blamed the U.S. Federal Reserve’s low interest-rate policy of previous years for setting the stage for last year’s global financial crisis. She opposed appointing the Fed as the chief overseer of systemic risk in the U.S. financial system. “The words ‘fox’ and ‘henhouse’ come to mind. The Fed’s decisions have created the bubble,” she said.
There is indeed a perception that heavy-handed Federal interference pushed banks into higher risk lending practices which were at the core of the financial meltdown. She also proposed the elimination of the estate tax and capital gains tax and predicted this would reinvigorate the US economy. She stuck close to free trade principles and differed with the Administration regarding the recent tariff tiff between US and China. Though she also exposed the West’s self-delusion regarding a freer China:
She said greater political openness in China could help soothe tensions. “Many believed that with China liberalizing its economy, greater political freedom would follow, but that hasn’t happened,” she said. “The more open [China] is, the less we’ll be concerned about the military buildup and its intentions.”
All in all, the Governor appears to have given a solid address. Congratulations to her!