Ben Stein's 'harsh' economics lesson for Rick Perry

Ben Stein offers a rebuttal to Rick Perry&#039;s claim that Fed stimulus through monetary policy would be a potential act of &quot;treason.&quot; The truth, Stein says, is it&#039;s &quot;not anywhere near a treasono

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last updated 8 January 2015

The video: Business commentator and sometimes actor Ben Stein says he likes Texas Gov. Rick Perry (R), and agrees with him on most social issues. "But may I respectfully offer him a lesson in economics?" Stein asked Sunday morning on CBS. (Watch the video below.) Last week, Perry attacked Federal Reserve Chairman Ben Bernanke, suggesting that new stimulus from the Fed would be akin to treason. Perry was not only way out of line, Stein argued, but betrayed an appalling ignorance of monetary policy and made a "serious mistake." Increasing the money supply isn't "treason," as Perry suggested, but rather "an orthodox, classic move" to juice the economy. "The idea is to make money cheaper, so businesses will borrow, then invest." Perry has catapulted to the top of national polls of the GOP field, and might one day be president. But first, Stein said, "I hope he'll get some moderation in his speech, and some lessons in economics."

The reaction: "I've been a fan of Stein's for years," says Noel Sheppard at NewsBusters, but I think he's off base with his "harsh words" for Perry. Lots of investors agree with the Texas governor, and "if he needs some lessons in economics, so do all the people around the world buying gold and shorting the dollar." The truth is, nobody knows for sure how to fix the economy, says James Johnson at The Inquisitr. If they did, we'd have virtually no unemployment. But "I have to give it up to Ben Stein" for not "letting politicians like Rick Perry create soundbites that no one challenges regardless of how baseless they are." Judge for yourself: