As long as the extreme conservatives are calling the shots, I think it’s important to pay attention to the people they think are fantastic, but in reality, are dangerous. It only takes .5 seconds to watch the invisible hand of S&P see how dangerous the policy decisions coming from the GOP favorites are. This post from Matthew Yglesias details the moron Tim Pawlenty, a man Nobel-winning economist Paul Krugman calls “Palin in a suit“:
Separately, Pawlenty doesn’t seem to understand U.S.-China bilateral trade at all, which is a problem because that’s just about the most important bilateral economic relationship we have. He suggests that we could “deal with these unfair trade practices” except for the fact that we owe China too much money. “You ever told off your banker?” This would be an excellent point except that Chinese purchases of American debt are the main “unfair” trade practice of which China stands accused.
Here’s the video:
via Tim Pawlenty’s Extremely Weak Grasp Of Monetary Policy And International Finance | ThinkProgress.