The tiff began after economics reporter Sudeep Reddy criticized Palin's keynote speech at the Specialty Tools & Fasteners Distributors Association (STAFDA) trade show in Phoenix on Monday in a post on the Wall Street Journal's 'Real Time Economics' blog.
In her remarks, Palin blasted the Federal Reserve's decision to buy $600 billion in long-term U.S. Treasury bonds over the next eight months – a policy known as quantitative easing – in order to help jumpstart economic recovery. The move, Palin said, "deeply concern[s] her."
"Everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so. Pump priming would push them even higher. And it's not just groceries," Palin said in her remarks.
"Maybe it's time for Chairman Bernanke to cease and desist. We don't want temporary, artificial economic growth bought at the expense of permanently higher inflation which will erode the value of our incomes and our savings," Palin continued.
But in a post entitled, "Sarah Palin's QE2 Criticism Includes Inflation Hyperbole," Reddy took issue with Palin's analysis, saying, "Grocery prices haven't risen all that significantly, in fact. The consumer price index's measure of food and beverages for the first nine months of this year showed average annual inflation of less than 0.6%, the slowest pace on record (since the Labor Department started keeping this measure in 1968)."
Reddy's criticism prompted a harsh rebuttal from Palin in a Facebook post "Do Wall Street Journal Reporters Read the Wall Street Journal?
"Really?" Palin said in response to Reddy's dismissal of higher grocery prices. "That's odd, because just last Thursday, November 4, I read an article in Mr. Reddy's own Wall Street Journal titled "Food Sellers Grit Teeth, Raise Prices: Packagers and Supermarkets Pressured to Pass Along Rising Costs, Even as Consumers Pinch Pennies."
"The article noted that 'an inflationary tide is beginning to ripple through America's supermarkets and restaurants…Prices of staples including milk, beef, coffee, cocoa and sugar have risen sharply in recent months,'" Palin said in the post.
But in a second post on Tuesday, Reddy cited Labor and Commerce Department data that he said indicates "overall food price inflation has been historically low for the past year." Reddy said that while some commodities prices have increased, retailers have been reluctant to pass those costs on to customers due to "weak demand, high unemployment and thrifty shoppers."
Reddy pointed out that the sentence Palin quoted actually said, "An inflationary tide is beginning to ripple through America's supermarkets and restaurants, threatening to end the tamest year of food pricing in nearly two decades."
"It does indeed report that supermarkets and restaurants are facing cost pressures that could push their retail prices higher – but it hasn't happened yet on a large scale," Reddy said. "Critics of the Fed's quantitative easing policy are focused primarily on concerns about potential future inflation."
Not a level playing field here. The reporter has grey matter.
WAR OF WORDS BETWEEN PALIN and anybody?
I haven't read the article, nor will I read it. Your MISLEADING headline was just too much, even for me, to take the bait.
Palin is just a loser who QUIT her job... She has NO intgellence at all about the GOVERNMENT. She is a PIMP
for the SO-CALLED, bigoted, racist religious right. The whole family are only "out for the bucks".
Who does this woman not fight with?? Because the Tea Party had some success, I guess we are stuck with her outrageous outrages for year to come.
I wish Palin would stop arguing about things she knows nothing about. Since she knows nothing about anything, that means we'd get rid of her for good.
Your know what deeply concerns me half term? Why anyone gives a freakin' hoot about what you "think". It's completely beyond me. The twit bimbo probably thought that the QE2 is a ship. No, I digress she probably doesn't know about the ship either. She is now reading the WSJ? Thanks CNN for our daily dose of the queen of dumb and her lies.
Albert Einstein's and Stephen Hawkin's brains could be inserted into the empty space between her ears and she would stipp be STUPID AND AN IDIOT!!!
Quote to ther quitter . . . . . You don't fail when you lose. You fail when you QUIT!!!
BTW – what's up with your daughter's weight. She pregnant again? Is the unwed spawn going to hide after DWTS like she did the last time she had that first baby?
uh oh Sarah...don't you know the WSJ is owned by your boss Rupert Murdoch and is a conservative publication? This for once is not the "evil left wing media" Mrs. Palin loves to attack...but perhaps if she read more before shooting off her mouth she would know this.
She is good looking and good for ADs for Alaska but the economy is not her turf. During the last 10 months economists were talking about Deflation. Besdies, if she follows exactly what bernanke said that he quantitative easing is to be performed during the coming MONTHSSSS.
Normal uneducated Palin remark, same story different day.
So, she or her ghost FB writer, are actually reading, now. Good! Now it's time develop comprehension skills of what is being read.
God forbid that I should side with Sarah Palin, but Mr. Reddy, along with the folks who figure the inflation rate, should compare a basket of groceries bought today with the same basket bought last year and the year before. There is a big difference, some in the double digit range. And increases in petroleum products are coming, which will be a double whammy. Thank GOD I have a job and am not limited to Social Security.
The Wall St. Journal doesn't seem to understand. Palin and her brain-free followers don't want trivial things like FACTS getting in the way of their rhetoric and hate, and they don't like being called on it either – how dare they? After all, it is the MSM's fault that she doesn't know anything.
The transportation costs associate with goods has more to do with the increase in prices that what the FR is doing. REmeber what your groceries cost when cast was nearly $4 a gallon. They are inching up agian now too. I can wait to heat what the Twit tweets about then.
Correction: Remember what your groceries cost when GAS was nearly $4 a gallon.
Note to self: Proof better beore hitting "Post."
Everytime she opens her mouth she proves once again how dumb she is. Sarah, stay with your tea partiers, you're out of you league otherwise.
Just another example of Palin speaking before thinking and also giving out incorrect information to the people that think she's the best thing since chopped liver. I, personally, don't believe a thing she says...she's been proven to be wrong more times than she's been right. Good job to calling her out on her errors. Keep up the good work and maybe her followers will actually begin to get it.
Please somebody shove that mike down her throat so we never have to hear that snnoying screeching voice of hers! Tv and radio stations should give arning whenever they are going to have her "speak" so that we can mute whatever we are watching or listening to.
Gawd!!!!!!!!!! If that pitch gets any higher she will have dogs howling right along with her. Now that I think about it I rather listen to the dogs howling.
Go get em Sara, you've never been one to let the facts stop ya!
When did Sarah Palin ever let the facts get in the way of her opinions? This woman is the shining example of the decline of the US educational system. The elite can afford a first class education, everyone else is barely literate. Equating the rise in cost of a few groceries to the entire economic system is just plain stupid. Unfortunately the people that come out to listen to her have no critical thinking skills.
FYI: Democrats don't debate with Palin in the media, facebook, etc., ask Palin to debate you face to face. Palin is attempting to set her questions/answer agenda for a campaign debate and using media/facebook, etc. as her "cheat sheet" because she's already been caught writing in her hand. Example, attacking Fed Chairman Bernanke on "quantative"(math/science) economics which is clear she knows nothing about. If she wants to learn economics tell her to stop being lazy, go to school and get a degree like Bernanke and stop trying to "cheat" . Palin is too lazy to study like many Americans and she's teaching her kids the same way and her husband needs to "man up" and get a job or get a H.S. diploma.
Liar lies and gets called on it, throws hissy fit. Story at 11.
In fact, very few economists believe Bernanke's plan would result in rampant inflation. The game here is that inflation is already on its way and Jaberwocky Barbie wants people to place the blame where it would do her and her Teatard clowns the most good, rather than have an accurate understanding of why it is occurring. And of course, the media will report the he-said-she-said instead of actually informing anyone and showing that Jaberwocky Barbie is a lying POS out for political leverage, not the truth or the health and welfare of the public.
Sarah: Do your homework. If you indeed read the newsmagazines and newspapers as you claim, please note that they cite their facts, sources, articles, reports, tables...all things that can be verified independently. Please stop wasting Wasilla's time like this.
Does this moronic woman ever get tired of running her mouth and offering opinions on issues where she has little or no knowledge? She has a lot of nerve talking about the price of groceries, etc., when she charges $100,000 for a speech plus all the expensive perks that go along with it. I doubt if she ever goes into a grocery store and she doesn't comprehend anything because of her lifestyle and has everything handed to her.
Why argue with Palin? she is just another Parrot which repeats what the Master have just said!.If she can't cut in Geography " I can see Russia from my house" I bet the Economics subjects are far more complicated for her to comprehend!!
Palin can't even spell "quantitative easing ", let alone know what it is. But again, knowledge and facts have never stopped her from opining. And, since when did she learn how to read? Sarah, betcha can't spell QE2.