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."
Facts? FACTS? Don't bother Sarah with facts. "Facts" are just things that you make up to disagree with her brilliance like fossils and gravity.
Nothing this boob ever says is supported by facts... why should this media star worry about facts when her every gaseous escape is covered ad nauseum by the fawning press? Palin is nothing but LIES LIES LIES.
Maybe the headline should be "Palin Fails to Read Full Sentence, Gets Story Backwards." But of course that wouldn't surprise anyone.
600 billon,7,000 more from each one of us we can do that right,,and you dems think she's the dum one hahahaha
Come on now – surely you don't expect that the darling of the TP – nor any of their membership – would allow themselves to be influenced by the fact, do you?
Sarah Palin and facts in the same sentence !!
No where in this article does it state why her statements are incorrect. This sis just another lame Palin hit piece.
Palin vs. WSJ: The Bland leading the Bland
Come on now – surely you don't expect that the darling of the TP – nor any of their membership – would allow themselves to be influenced by the facts, do you?
Men take these stances all the time and do not get attacked-anything she says is attacked and you wonder why she fights back? She is more successful than most of the people posting and more educated. I am sure she is worth much more as well. Jealousy is showing its face her people. Go drink a latte and fix the tape on your glasses.
Well Palin isn't all wrong our supermarkets around her have gone up in prices. I guess this argument should be based on where you live.
The democrats throw us crumbs to keep us from revolting, while scimming millions off the top for themself. The republicans do not throw crumbs to poor people, they throw millions to themself. If the democrats stay in power, they keep us at bay. If the republicans take over, sooner or later, THERE WILL BE A REVOLT
There's a saying "If you throw a stone at the puddle,it will splash & you are going to get dirty"....who cares what Palin thinks and says
Sarah Palin doesn't care about facts because her speeches are aimed at a very specific audience, and that audience doesn't care about facts. Good thing too, because Palin doesn't really have the ability to study a topic with any depth and actualy understand it. Her talent is the uninformed rant.
Two things occur to me here. One is that the media tends to overdo these things. Having said that Palin or anybody else has to develop some sensitivity to that. The second thing though is that Palin is not strong in language(and careful with its nuances) or economics and this will develop into a real problem for her should she aspire to higher political aspirations. I certainly would not give her much support in a battle with Bernanke on economic issues.
Maybe the WSJ will go after her now. She is making enemies in the conservative world (WSJ is owned by Rupert Murdoch, who also owns Fox News, Sarah's employer). I predict the Republican party will Swift Boat her before the 2012 elections. Establishment Republicans can't stand her.
Yes..when sarah speaks, people listen...those people that really thinks every screech has some kind of logic and those of us who just think..go away, Sarah...go go please just go away. I wonder if John Mccain sleeps nights putting this piece of whatnot in the limelite,ugh,..SHAME ON YOU, MCCAIN
Palin doesn't want the Fed to do ANYTHING to help the economy, because that would mean the Obama admin could take credit for it; then it would be that much harder for her to win the Presidency. Little does she know that she doesn't stand a snowball's chance in hell of winning ANYTHING.
Chances she actually read that article before this spat over her baseless comments = zero. Chances a staffer looked it up for her instead of her actually reading it = 100 percent.
Hey now, don't start using FACTS with Sarah Palin; that's just not fair... or balanced... or...
CNN you'll just do about anything that's negative on Sarah Palin won't you. You're article's title has absolutely no credibility! Please just start reporting the news and quit slamming the Right!
Facts haven't stopped Palin yet! John McCain's legacy will be that he introduced this idiot to America.
What to expect from moose-eating trailer trash Palin other than trassh words? Her whole famil yis trashed out, the true image of what America's culture should not be. She is an idiot, but why are people even giving any cogniganze to her trash talks? Her speech is nothing better than a person speaking and living in an asylum. Can't even send her to asylum, all patients will flee!
I can't wait 'til she gets her own talk show and inserts her foot into her uneducated mouth on a daily basis
Sarah Palin relies on the fact that she can't get her fact straight! This is the only way she gets her daily "15 minutes" of fame! And as long as Americans give her attention, any kind of attention, she won't go away for good anytime soon.