Ron Paul has been granted chairmanship of the Domestic Monetary Policy Subcommittee

Story via Washington Post; a positive gloss on this from the Cato Institute; David Weigel’s round-up of reactions, including these choice words from someone readers of this blog are familiar with:

“Republicans stashed him in this job because they don’t want him making more important decisions,” said Megan McArdle, a prominent libertarian blogger and economics editor of the Atlantic. “He cares passionately about monetary policy, which most Republicans don’t care about. But when you look at his speeches, he doesn’t understand anything about monetary policy. He might actually understand it less than the average member of Congress. My personal opinion is that he wastes all of his time on the House Financial Services Committee ranting crazily.”

Most of you are aware that I don’t like Ron Paul. Even if not a bigot himself, he accepts support from some of the worst bigots in this country (“Angry White Man” in The New Republic discusses the Ron Paul newsletters, which have actively cultivated such support over decades. It is not available in full online). And then there’s the no small matter of his conspiracy theories about the Fed dominating a more serious discussion about finance and regulation. This is the guy who accused Bernake to his face of funding Saddam Hussein and causing Watergate. If that sounds nuts try watching it: it’s almost unwatchable.

The sooner Paulbots are gone from political life, the sooner America can actually achieve limited government, sound economic policy, and keep its commitments instead of ranting crazily, frustrated that the United States actually has to deal with the rest of Planet Earth.


  1. Ron Paul isn’t the slightest bit racist, and twenty years of public service and a huge youtube and literary library are ample proof, regardless of what a handful of statements in a decades running newsletter run by independent editorial staff and volunteers might have said.

    And his monetary policy may be one McArdle doesn’t like, but competition in ideas doesn’t mean ‘knowing nothing’ about a subject.

  2. i respect ron paul and his philosophy on monetary policy. I think you should actually study what his beliefs are before dismissing him as someone who knows nuthing.

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